Americans' debt problems are flashing a warning not seen since the Great Recession — SkimNews
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- Families behind on loan payments rose to nearly 20% at the end of 2025, up from about 12% in the prior 2022 survey — a 67% jump and the worst reading since the 2010 aftermath of the Great Recession, per the Fed's Survey of Consumer Finances.
- Severe delinquencies also accelerated: the share of families two months or more behind on payments climbed from 5% to more than 8% over three years.
- High debt-burden households — those spending more than 40% of income on payments — surged to 8.6%, up from 6.5% in 2022 and the highest level since 2013.
- Wealth gains flowed to the top: the highest-income group's median net worth jumped 31%, while inflation-adjusted average net worth rose 7% to $1.24 million; median net worth rose only 2% to $215,900.
- Income gains were uneven: real median family income rose 7% but average income fell 6%, with incomes for ages 35–44 plunging 25% while those 75 and older saw strong gains.
- Racial and education gaps persisted: Black non-Hispanic, Asian, and top-distribution families all saw both median and mean income fall, and college-degree holders held nearly three times the median net worth of those with only some college.
- Lower-income families lost ground even as higher-income families gained: bottom-quartile median net worth declined 6% while average net worth fell 4%.
Why it matters: The K-shaped divergence is hard to miss: roughly 1 in 5 American families are now behind on debt (up 67% in three years) while the top income group's median net worth surged 31%. With 8.6% of households now dedicating over 40% of income to debt service — the highest share since 2013 — the financial strain falls hardest on lower- and middle-income households and on families ages 35–44, whose incomes fell 25%.
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