Morning Brew Daily Americans $17 Trillion in Debt, Free TVs... Kinda & Martha's Still Got It
May 16, 2023
The hosts reunite to tackle the staggering $17 trillion in consumer debt and explore mortgage refinancing benefits. They discuss a revolutionary free smart TV that requires viewers to endure constant ads—is it worth it? With streaming fatigue on the rise, ad-supported platforms are stealing the spotlight from subscription services. The IRS is testing a free digital tax filing system, prompting debates about the future of tax preparation. Plus, Martha Stewart graces the cover of Sports Illustrated at 81, proving she’s still got it!
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Record US Household Debt
- Americans hold a record-breaking $17 trillion in household debt, a new high in Q1 2023.
- Credit card debt remained flat, defying the usual post-holiday decline and signaling potential financial stress.
Refinancing Impact
- Pandemic refinancing locked in lower mortgage rates for many, offering long-term financial relief.
- This positive impact may offset some current consumer debt concerns.
Rising Auto Loan Delinquencies
- Auto loan delinquencies are rising among under-40 borrowers due to increasing vehicle costs.
- The average new car price is $48,000, impacting affordability for many.