🟥 US Household Debt Hits New Record High.. 🇺🇸

• US household debt hit an all-time high of $17.94 trillion in the third quarter of 2024.

• Household debt rose by $147 billion in the last quarter and by $778 billion in the past 12 months.

• This increase was driven by mortgage and credit card debt, which hit new records of $12.98 trillion and $1.17 trillion, respectively.

• According to the Federal Reserve, younger and lower-income consumers have been hit the hardest.

• Americans are struggling to keep up with rising prices and are falling into debt.

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