Wednesday, March 6, 2013
Consumer Debt Rises for Young Adults
According to the Wall Street journal A typical young U.S. householddefined as one led by someone under age 35had $15,000 in total debt in 2010, down from $18,000 in 2001 and the lowest since 1995, according to a recent Pew Research Center report and government data. Total debt includes mortgage loans, credit cards, auto lending, student loans and other consumer borrowing. In addition, fewer young adults carried credit card balances, and 22 percent did not have any debt at all in 2010the most since government tracking began in 1983.