New York Fed: Californias have most debt per capita

New York Fed: Californians have highest debt per capita

December 30th, 2011, 11:00 am ? ? posted by Jan Norman, small-business columnist

Californians have more debt per capita of any other state, according to a report by the New York Federal Reserve.

Source: New York Federal Reserve

BusinessInsider.com called our attention to this chart and provides links to other charts in the New York Fed report dated November 2011 and based on third quarter data.

In order of debt per capita are:

1. California
2. New Jersey
3. Nevada
4. Arizona
5. New York
6. Illinois
7. National Average
8. Florida
9. Pennsylvania
10. Michigan
11. Ohio
12. Texas

Most of the consumer debt in California and the other state charted is real estate related, either mortgage or a home equity loan. But Californians also owe a lot for auto loans, student loans and credit cards.

Source: New York Federal Reserve

According to the New York Fed, Americans are still up to their eyeballs in debt, down from their hairlines: Aggregate consumer debt? stood at fell approximately $60 billion to $11.7 trillion in the third quarter, down $60 billion or 0.6% from the revised second quarter.

Click here to see all the charts that the New York Federal Reserve produced about state, consumer and student debt.

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Source: http://jan.ocregister.com/2011/12/30/new-york-fed-californians-have-highest-debt-per-capita/76848/

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