Research finding summaries
In the United States, delinquent credit lines as a share of both total consumer, auto loan, and credit card debt steadily grew over the last two and half years. Over the same period, residential-mortgage delinquencies rapidly declined, essentially returning to their pre-2007 levels. These divergent trends point to the relative financial security of upper-income and the increasing fragility of lower-income households prior to the pandemic. How are working families in America getting by in the midst of a capitalist crisis unlike any other?