The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: nextrade! who wrote (7068)	11/26/2002 7:54:19 AM
From: nextrade!	Read Replies (1) of 306849

Ouch ! Message 18274410 11/25/02 People with financial problems increased their debts by 61 percent last year and have more than $52,000 in credit card debt on average, according to a new study by the national financial counseling center Myvesta. The debts of the organization's average client skyrocketed from $162,847 last year to $262,825 this year, including mortgages, car loans, credit card bills and other debts. Myvesta's typical client pays $1,039 a month in credit card bills, $1,440 on a mortgage and $719 on a car loan. "People assume it's the credit cards that get people in trouble," said Myvesta President Steve Rhode. "We're seeing more and more people push their finances to the edge with bigger mortgages and other types of debt than ever before."

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