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Household Debt Drops But Struggles Rise | Charleston News
Household debt just took a rare dip—down $13 billion to $18.8 trillion—the first decline in six years and the first since 2016. But don’t celebrate yet: analysts warn this could signal a slowing economy, as reduced spending leads to lower borrowing. Mortgage balances fell, but mostly due to reporting quirks—not actual payoffs. Meanwhile, credit card debt surged $21 billion and auto loans jumped $28 billion. Student loans saw a small drop. Delinquencies are climbing on mortgages and auto loans, and financial counseling demand is at an all-time high. With prices soaring and incomes stagnant…
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