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Aug 18, 2019

[Answer] What type of consumer debt is the largest in the United States?

Step 1 : Introduction to the question "What type of consumer debt is the largest in the United States?"



...1. Student loan 2. Credit card 3. Mortgage 4. Auto loan




Step 2 : Answer to the question "What type of consumer debt is the largest in the United States?"



Mortgage - While student loan debt might be making the rounds on the news as of late, at $1.49 trillion owed, it ranks “only” second in most consumer debt in the United States. In actuality, at a whopping $9.24 trillion owed, mortgage debt remains the highest consumer debt in the country. If you were to break this number down per average household, then the average American household would owe $185,591 on their mortgage. Though that number sounds high, when you take into account that the median home listing price in the U.S. is nearly $226,800 and continuing to rise, owning a home might be the best investment you will ever make with your own or someone else’s borrowed money.:


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4 comments:

  1. Hasty decisions have to be avoided while applying for these loans, as many of the lenders might offer you variable options. VSLoans There is no denying that the installment loans for bad credit borrowers offer quick financial assistance.

    ReplyDelete
  2. The loan or advance on a credit card is not a "term loan" as with most signature loans. 2600loan.com loans These lenders offer personalized loans to the borrower depending on their financial situation and state of living.

    ReplyDelete
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    1. Thats great! Why can't we connect and discuss the same. Please shoot a email to try3steps@gmail.com

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      Try3Steps Team

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