1 in 2 households is in debt and spends 17% of monthly income to pay

1 in 2 households is in debt and spends 17% of monthly income to pay

This survey provides information on the composition of household assets and debts, as well as on their sociodemographic characteristics. Among other data, it is revealed that of the 36.6 million households in Mexico, 56.9% of them have some type of debt, that is, 20.9 million households.

How do Mexicans get into debt?

Of these, 11.6% have a mortgage debt, while 53.8% have non-mortgage liabilities that are distributed in products such as credit cards, payroll or personal loans and other types of leverage.

Regarding mortgage debt, 14.3% of this is for the acquisition of the main home and 6.8% for the financing of other properties (second home, land, premises, offices, etc.).

In total, Mexican households have debts that amount to 1.6 trillion pesos, with the main home being the one that has the greatest weight, with 38.7% of the total.

Inegi points out that, with respect to non-mortgage debt, by type, 60.2% of the country’s households have credit card debt, 18.8% in payroll or personal credit, 11.6% in vehicle credit and 47% have debt in other credits such as savings account, third party loans, pawn shop, educational loan, among others.

The weight of debt in the income of Mexicans

According to the survey, with data from 2019, household debt represents 17% of monthly cash income, 10% of annual current income and 6% of total assets.

However, for households that have mortgage debt, it represents, on average, 50% of the total value of the main home. In addition, the service of this type of debt, that is, the monthly payments to settle it, represents 15% of the current monthly income of households.

cookie : true, xfbml : true, version : 'v8.0' });

FB.AppEvents.logPageView();

};

(function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));



Source link

Leave a Reply

Previous Story

Police note creates confusion about sale of alcohol in the middle of voting day

Next Story

Government denounces coup attempt promoted by UNES and Pachakutik

Latest from Mexico