Which state has the highest mortgage debt?

If you live in this state, your mortgage debt is probably more than $20,000 higher than homeowners in other parts of the country

Which state has the highest mortgage debt?
The 50th state tops the list of the most indebted when it comes to mortgage, according to the Hawaii Tribune Herald.

A new report from Hawaii’s Department of Business, Economic Development and Tourism revealed that the state’s mortgage debt per capita was at $51,770 in 2015 compared with the national average of $31,330.

In 2005, Hawaii ranked had the sixth-highest mortgage debt at $39,870 per capita, and ranked third in 2010 with $53,690 per capita.

With mortgages as the heaviest debt burden for residents in Hawaii, one of the main factors pushing the state to the top of the mortgage-debt list was housing costs surpassing income levels.

In 2015, the Aloha State’s debt-to-income ratio was 1.76 – higher than the national average of 1.3.
Meanwhile, household debt has surpassed the 2008 recession peak in the first quarter of the year, according to the Federal Reserve Bank of New York.

Household debt has increased for the 11th straight quarter, reaching $12.73 trillion in Q1 2017 and surpassing the $12.68 trillion Q3 2008 peak during the recession.


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