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Thread: This Is Where America's Most Debt-Burdened People Live - Map

  1. #1

    Default This Is Where America's Most Debt-Burdened People Live - Map

    https://www.zerohedge.com/news/2017-...ed-people-live


    https://www.zerohedge.com/sites/defa...229_debt11.jpg

    I think the comments are actually more interesting than the article itself. Not exactly useful, but more interesting...

    Americans have racked up almost $13 trillion in personal debt for things like mortgages, car notes and student loans. $13 trillion is such an enormous pile of money, it’s hard to imagine what that looks like across the country. So, HowMuch.net created a new map to figure out exactly what’s going on...

    Source: HowMuch.net (Link)

    GOBankingRates recently conducted a survey in which they asked Americans how much debt they had. This included things like a mortgage, credit card debt, student loans, car notes and medical bills—basically every major category of debt. They broke the respondents down by state to calculate an average total debt load, which we then mapped across the country. As one can see, people living in states colored dark red and pink have higher debt burdens (as much as $500k) compared to light and dark blue, where the debt load is less than $50k.

    Hawaiians have by far the highest debt, averaging $869,250. This makes sense considering the Aloha State’s location in the middle of the Pacific Ocean, and the fact that our numbers take into consideration mortgages. There’s only so much land someone can buy before demand outstrips supply and drives up price (the new land constantly created by volcanoes notwithstanding). People with the second highest debt burden live in Maryland ($284,851), but that’s almost four times as small as Hawaii. Further down the list, there are some obvious clusters of states, with five states surpassing $100k and an additional six between $50k-$100k. The rest all have lower debt levels.

    There really isn’t a clear pattern on the map: there are low-debt states sitting right next to high-debt states.

    The lowest debt-burdened people live in Washington, DC ($1,611), followed closely by Alaskans ($2,286). What could these places possibly have in common? The one exception can be found in the Deep South, where a cluster of blue and dark blue states all group together. Louisianans have the third lowest debt burden in the country, averaging only $6,140 per person. Other than that, personal debt levels swing wildly from state to state.

    Here’s the key insight. A few different factors explain the wide-ranging differences. For example, people living in New York City probably don’t own a car, and many still rent an apartment. Compare that to Texas and Oklahoma, where most people own a home in the suburbs from which they commute to work in vehicle they also own. Simply, put, lifestyle choices go a long way in determining debt levels. Not only that, there are good kinds of debt that build equity—like paying a mortgage—and add to overall net worth. Having very little debt is great if you consistently save money.

    Top 10 States Where People Have the Most Debt

    1. Hawaii: $869,250

    2. Maryland: $284,851

    3. Texas: $185,584

    4. Oklahoma: $174,839

    5. Indiana: $166,844

    6. Nevada: $165,740

    ...
    Full article on link.

    ---

    What both the article and comments fail to address is the constantly falling value of the US Dollar. Prices of everything go up up up but wages do not go up. In fact, since 2008, wages have actually gone down because of the types of jobs that replaced the middle class jobs that evaporated and went overseas. The only place that wages have kept up with inflation is for the top 1% but definitely not the bottom.

    Zippy ought to be along shortly to point at some pretty chart about how wonderful everything is. Yes, this map doesnt really show the average income for people in each state so there really isnt a point of reference.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintian an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    You are Ron Paul's Media!

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.



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  3. #2

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    So , ya got Hawaii at a million , Maryland at a quarter million and the rest at a mortgage or less ?

  4. #3

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    2016 Median household income in Indiana was 52K , US was 57K ,not much change since 2005
    Last edited by oyarde; 12-30-2017 at 04:58 PM.

  5. #4

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    Quote Originally Posted by oyarde View Post
    So , ya got Hawaii at a million , Maryland at a quarter million and the rest at a mortgage or less ?
    In most of Maryland, a quarter of a million is a pretty small mortgage. In the parts of the state where most of the people live, even small townhouses cost more than that.

    But from what I've seen, in Indiana on the other hand, that 166k is higher than most mortgages would be. I'm curious why Indiana's so debt-burdened compared to the rest of the country.

  6. #5

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    Quote Originally Posted by Superfluous Man View Post
    In most of Maryland, a quarter of a million is a pretty small mortgage. In the parts of the state where most of the people live, even small townhouses cost more than that.

    But from what I've seen, in Indiana on the other hand, that 166k is higher than most mortgages would be. I'm curious why Indiana's so debt-burdened compared to the rest of the country.
    I figure anything more than a mortgage is auto loans , student loans and credit debt . In Indiana mnfg jobs in the 30 , 40 , 50 K range are common . Two of those together with a mortgage and two car payments for a household and you can get to 165K without student loans pretty easy . I just sold a house and three acres last summer to a young couple for 200K
    Last edited by oyarde; 12-30-2017 at 06:08 PM.

  7. #6

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    Our debt could probably be solved if we sold off our reservations and casinos to the Chinese.

    Quiz: Test Your "Income" Tax IQ!


    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

  8. #7

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    Quote Originally Posted by Danke View Post
    Our debt could probably be solved if we sold off our reservations and casinos to the Chinese.
    Ya , you have problems up there , everyone owes for college except the immigrants .

  9. #8

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    OKlahoma seems high .
    Last edited by oyarde; 12-30-2017 at 06:12 PM.

  10. #9

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    Quote Originally Posted by Danke View Post
    Our debt could probably be solved if we sold off our reservations and casinos to the Chinese.
    Soon ,the Indians will have enough casino monies to fence in the twin cities and make the rest of the state a libertarian paradise by impounding the commies .






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