Notwithstanding increases in mortgage defaults noted by the government and the S&P/Equifax Credit Index, the overall debt load that individuals hold is getting in line with the 25-year average, according to David Blitzer, who chairs Standard and Poor's index committee.
Blitzer based his analysis on Federal Reserve Bank data that lists show how much of disposable income goes to debt service, property taxes, auto leases or financing, homeowners insurance and rent.The result is a debt-to-disposable-income ratio.
Surprising, Blitzer said, was that renters' ratio is higher than that for homeowners.
