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November 8, 2023
NTD Business (Nov. 8): Americans Owe More Than $17 Trillion in Debt; Now Is Least Affordable Housing Market
NTD News
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Americans are piling up record credit card balances, and many are falling behind on those payments.
Credit card balances hit more than $1 trillion during the third quarter, leaping by a record $154 billion from the year before, according to the Federal Reserve Bank of New York's latest quarterly report on household debt and credit.
The year-over-year increase is the largest since the New York Fed started tracking that data in 1999.
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