Californians have a serious problem with debt- Freedom Debt Relief has found that, according to data from the Bureau of Labor Statistics and the Bureau of Economic Analysis, residents of California have about 2.35 times more debt than they do income. The average per-resident debt of a California resident is about $65,740, and the average income is about $28,000. This discrepancy between income and debt has resulted in a report by FitSmallBusiness.com that ranks California as one of the least likely states to survive a recession.
So why do Californians hold so much debt? Housing is a major contribution- California holds the highest average home prices in the United States. The C…
Read the full article at: http://releasefact.com/2017/11/freedom-debt-relief-investigates-californias-rising-debt/