In the U.S., total debt is $17.57 trillion, averaging $58,215.12 per household. The country ranks 10th globally in loan-to-income ratio at 112.21%. Other nations have higher ratios, with average debt ranging from $43,987.51 to $124,785.99 and loan-to-income ratios from 119.50% to 143.75%.
Household debt is a significant issue worldwide, with nations like the U.S. facing high debt-to-income ratios. The average American household owes $53,430.77, outweighing the net yearly salary of $45,433.20. This trend is mirrored in other countries, with varying levels of debt and loan-to-income ratios.
Read more at Yahoo Finance: Think the US Is Bad? People in These 9 Countries Have Way More Debt