The Kobeissi Letter on X: The debt-to-income ratio for all homebuyers in the US just hit 40% for the first time in history. Even in the 2008 financial crisis, this ratio peaked at ~39%. This comes as total household debt just hit a record $17.1 trillion and credit card debt crossed $1 trillion for the first time ever. Consumers are borrowing at a record pace all while savings are declining and rates are rising. What’s
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