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Mortgage debt balloons amid rising home prices

Mortgage debt has ballooned by 80% over the past 20 years, resulting in an unprecedented level of household debt among Americans.

That’s according to a new study from debt collection agency The Kaplan Group that examines debt across many types of loans and U.S. states. While mortgage debt accounts for 74% of all household debt, student and auto loans each make up 11%, and credit cards comprise 7%.

“The most striking finding is the substantial increase in total household debt, which has grown by 81.5% over the past two decades,” Dean Kaplan, CEO of Kaplan Group, told HousingWire. “This significant details ⇒

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