Top Ten Cities With the Most reputation Card Debt Per Household - Do You Live There?

###Top Ten Cities With the Most reputation Card Debt Per Household - Do You Live There?### Advertisements

A new discover by Experian, one of the nation's three major reputation reporting agencies, shows despite an increase in wide savings by Americans, there are definite geographic areas where unsecured debt (credit cards and medical bills) continues to rise. While some of the numbers can assuredly be tied to increased unemployment and foreclosures, some areas with seemingly "normal" economic stats continue to increase debt.
 
Most people will agree that the days of plunking down plastic for nonessentials like flat screen Tvs for the bathroom is gone. This economic urgency has been a wake up call, albeit too late for some, that we have to find a way to live within our means. The good news is America is recovery at a rate not seen since the middle of the last century. The bad news, for our consumer economy, is Americans aren't spending.
 
And that's the conundrum for our current exertion to revive the American economy. On the one hand, fear tells us to save because nothing is truly get any more. On the other hand, taking consumer dollars out of the economy  dropping interrogate increases the losses for manufacturers who in turn have to lay more people off. Many look to the government as the "consumer" of last choice, hoping federal dollars will fill the gap where hidden dollars used to dominate.
 
Meanwhile, in any areas, unsecured debt expressed as a ration of household earnings continues to rise as consumers turn to their reputation cards to pay for essentials like food and utility bills.
 
Listed below are the top ten spenders. 
Miami, Fl with an average debt equilibrium per household of 97 or 22.6% of the average each year household income.  Tampa, Fl someone else city hit with real estate collapse has an average debt of 85 or 17.1% of house income. Los Angeles, Ca with a debt load of 15 or 16.8% of the house earnings for a year. Florida is represented by four cities in the top five together with Jacksonville with 97 or 16.4% of household income. Orlando, home of Disney World and a article number of foreclosures takes the number five slot with 33 or 16.1% of house income. Riverside, Ca. who started a land rush in the 90s with relative cheap housing that created an army of commuters willing to drive 2 hours in Los Angeles, now sit with vacant and abandoned homes and a remaining people with an average 58 reputation card debt. San Diego, Ca is someone else victim of the housing downturn and has an average debt of 93 or 16% of house income. San Antonio, Tx closely follows San Diego with 98 in debt which is an approximately same 15.95% of income. Las Vegas, Nv is no surprise with a housing crash and a 8% drop in tourism in the first quarter. Debt per house equals 28 or 15.4% of income. Sacramento brings up the tail of the top ten with debt averaging 13 or 15.2 of income. What's surprising is cities with relatively low cost of living and unemployment like Austin which is number 11, continue to see a belief on reputation cards to survive. Other towns that are included in the top 20 are Charlotte, Indianapolis and Cleveland.
 
We find ourselves in a situation not unlike the farmers in the Midwest in the late 19th century. Their qoute was simply that there wasn't enough currency (we were on a gold approved then and every dollar was backed by a dollar's worth of gold) to buy the seed and finance the process of growing crops. They got creative in their efforts to resolve their cash shortage and we are going to have to do the same.
 
Without consumer dollars in the marketplace, associates are going to fail because they have no sales and banks will be hesitant to loan. Somehow we have to inject cash back into the system. Is Uncle Sam the answer? He assuredly isn't going to buy plasma Tvs but maybe the job creation programs will originate enough belief that Americans will save a bit less and spend a bit more.

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