Consumer Debt Alert: Americans Under Financial Pressure

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Q3 2024 Debt Snapshot

• Total Consumer Debt: $17.94T (▲ $147B)

• Delinquency Rate: 3.5% (▲ from 3.2%)

• Disposable Income Ratio: 82%

Key Debt Increases

1. Mortgages: ▲ $75B

2. Credit Cards: ▲ $24B

3. Auto Loans: ▲ $18B

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Mixed Signals Positive Indicators:

• Bankruptcies: Declining

• Foreclosures: Decreasing

• Debt-to-Income: Below pre-pandemic level (86%)

Concerns:

• Inflation: 2.6% (October)

• Rising delinquencies

• Record debt levels

Fed Research Perspective "Relative to income, balances are actually lower than they were before the pandemic"

• New York Fed researchers note debt remains manageable

• Q3 shows moderating delinquency rates

• Total disposable income: $21.80T

Monitor our updates for evolving consumer debt trends and economic indicators.