Topic: Household Debt

1 chapters across the catalog

Dr. Kirk Elliott reports that US household debt has reached a record $17.8 trillion, with significant increases in credit card and auto loan delinquencies. He identifies the commercial real estate sector as the next major economic "linchpin," citing a $393 million loss on a single Manhattan building sale by UBS. Elliott predicts that $1.2 trillion in maturing commercial debt over the next 24 months will lead to widespread bank failures before the 2024 election.