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Homeowners Take On More Debt Than Renters

September 08, 2002|Inman News Features

Homeowners are more likely to rack up large amounts of unsecured debt than renters due to the burden of fixed expenses, according to a recent index that examines debt trends.

Average unsecured debt such as credit card and student loan debt for homeowners decreased from $19,377 in 1998 to $17,782 in 2002, according to the index. The lowest point for the period was at $17,062 in 2001. The average unsecured debt for renters decreased from $13,414 in 1998 to $12,648 in 2002, according to the Amerix quarterly index, an analysis of consumers who call Amerix-serviced credit counseling agencies for debt management help.

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