As Americans grapple with average monthly payments of $500 for student loans and $740 for new cars, resulting in the average American spending a staggering $1,240 each month just to finance a car and manage student debt, with delinquency rates expected to keep climbing.
Meanwhile, the median homebuyer is spending $2,900 on monthly home payments.
A house, car and student loans will cost you an average of $4,140/month.
~80% of post-tax household income is going to these 3 items.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) October 21, 2023
SMALL BANK 🏦
CREDIT CARD 💳
DELINQUENCY
NEW RECORD 👇 pic.twitter.com/kaDz4tJx70— Win Smart, CFA (@WinfieldSmart) October 9, 2023