Credit card debt is soaring, especially in these cities (thehill.com)

submitted 4 months ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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Using data from the Census Bureau, TransUnion and the Federal Reserve, the study’s authors looked at inflation-adjusted household debt in the country’s largest 181 cities found Santa Clarita, California to have the highest average household credit card debt ($21,836), followed by Chula Vista, CA ($20,920), New York, NY ($19,207), Fontana, CA ($18,843) and Rancho Cucamonga, CA ($18,549).

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[-] shakcked@lemm.ee 8 points 4 months ago

There has to be some factor other than sheer population driving NY's total cc debt. 63 Billion is an insane number.

[-] protist@mander.xyz 6 points 4 months ago* (last edited 4 months ago)

Nope, the $63 billion figure is just sheer population, given that the average household debt is laid out right there at the top. It should be noted New York also has a very high per capita income compared to most other large cities, and this Wallethub "study" doesn't adjust for purchasing power parity

this post was submitted on 23 Jun 2024

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