>I'd tend to lean toward CC debt I think I would lean toward household mortgage. The reason is simple. With a quick (and admittedly superficial) search, the av

>I'd tend to lean toward CC debt I think I would lean toward household mortgage. The reason is simple. With a quick (and admittedly superficial) search, the average minimum credit card payment was $110, while the average monthly mortgage or rent payment was $2100. Despite the fact that many people don't have mortgages, they still need a place to live, and you can't decouple rent and home prices. Which is particularly pernicious for renters because their home costs are not fixed. Add to it that many people use their home equity as a revolving credit line and I don't think the costs are as fixed as one might first assume. I think an underlying issue is that people have an optimism bias in terms of budgeting. They live riiiiight up to their level of income. I think the stat goes back at least a decade, but something like 65% of Americans cannot afford an unforeseen $500 emergency. Some of this is attributable to wage stagnation, but I also think much of it is due to another type of inflation: lifestyle inflation.