Consumer Debt Hits $15.6 Trillion in 2021… This is a MAJOR Record Breaker...
This is a $333 Billion increase in debt year over year since 2021. That is the largest Q4 increase since 2007.
Debt has gone crazy...
Let's look at Year over Year (2021 v 2022)
Mortgage debt is up $890 Billion ($11 Trillion balance)...
New Originations is up $4.5 Trillion)...
Credit Card debt is up $52 Billion...
Auto Loans debt is up $90 Billion...
Student Loan (very modest uptick) of $20 Billion...
Inflation is also through the roof...
In March we are predicting a 1.25% increase in rates tied to the prime rate, which is dictated by the FED (Jerome Powell)...
So what does this mean for home purchases in 2022 - are millennials going to get completely left out or are they going to find another vehicle to ultimately help them enjoy the “luxury” of homeownership?
Timestamps:
0:00 - Intro
1:19 - Mortgage Debt
2:13 - Student Loan Debt
2:26 - Credit Card Debt
2:31 - Auto Debt
2:46 - Record Inflation
6:07 - High Inflation with High Consumer Debt
6:56 - How To Benefit From Inflation
8:46 - Wrap Up
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