Thursday, November 10, 2016

Household debt in America

The number of confirmed downsizers in America may be statistically small, but what is certain is the huge amount of household debt among those still living in large houses, either by choice or necessity (such as inability to sell their home and move).

The figures are alarming:

- Average consumer debt was recently estimated at 97,000 dollars per household, a mix of mortgage repayments, credit card expenditure and repayment of other loans

- A quarter of owners surveyed whose property includes a two-car garage admitted they could not park their car(s) due to the amount of surplus possessions already stored in the garage

- While one in ten large house-owners rent additional external storage lockers (the subjet of numerous French TV programmes) to store their surplus possessions

- Many confess that they do not even enter some of the rooms in their large homes.

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