CNN Early Start June 4, 2024 09:53:00
Think it indicates a fair amount of financial stress. >> and just to put a fine point on it, how do we compare this to what we all experienced in 2008? >> can't compare it. this is no comparison. in 2008/09, delinquency rates were much hirgher, and it was across all forms of household debt, not just cards and consumer finance. but it was auto loans and of course mortgages was the real big problem. that is the biggest chunk of household debt is the mortgages that they owe. and at that time enormous increase in defaults and foreclosures. that is not happening this go around. >> and even accordin...