I think because the number of people with a mortgage is smaller than those without one, the average skews lower. Mortgages are the first loan they mention at 1800+ a month.
They should include average rent per month to get a better picture of how much people are earning just to spend immediately.
I really wish that journalists would learn how to write a headline. “Typical” can mean either mean or median, either for the whole population or just for the population that would reasonably take on debt (similar to how unemployment is counted). [or sometimes mode] but I think they’re saying average.
That’s nothing if you have a mortgage, a car and student loans. I thought it was much more than that.
I think because the number of people with a mortgage is smaller than those without one, the average skews lower. Mortgages are the first loan they mention at 1800+ a month.
They should include average rent per month to get a better picture of how much people are earning just to spend immediately.
True. But I know a lot of people that have paid off their house and or car. This is an average.
I really wish that journalists would learn how to write a headline. “Typical” can mean either mean or median, either for the whole population or just for the population that would reasonably take on debt (similar to how unemployment is counted). [or sometimes mode] but I think they’re saying average.
Well they definitely aren’t going to start writing about the “mean American’s” debt 😉
Hooray for being above average at something!