Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Pennsylvania > Pittsburgh
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-30-2010, 08:02 AM
 
Location: The canyon (with my pistols and knife)
14,200 posts, read 22,841,492 times
Reputation: 17463

Advertisements

Pittsburghers owe an average of $763 per month in mortgage, car and credit card payments, below the national average of $903.

They didn't specify whether this was a comparison of all metro areas or just major metro areas, and I know that there are other forms of personal debt, but this still sounds impressive nonetheless.
Reply With Quote Quick reply to this message

 
Old 11-30-2010, 08:34 AM
 
Location: Philly
10,227 posts, read 16,875,480 times
Reputation: 2973
would a large elderly "age in place" population reduce the avg mortgage calculation?
Reply With Quote Quick reply to this message
 
Old 11-30-2010, 09:13 AM
 
Location: Pittsburgh area
9,912 posts, read 24,726,157 times
Reputation: 5166
I would think so. They must be included in all the averages, as are people with paid-off cars and people who can't get credit and thus have zero credit bills.

I also wonder how they're treating renters. I have a suspicion that they're counting renters at zero mortgage cost, which would be weird, but how else can the averages be so low? The overall percentage of people living in owned housing with no mortgage is going to be small compared to owned housing overall, even here. I don't think they could get the averages that low if they simply excluded renters from the calculation.

I think they just took all people and all credit card, auto loan/lease and mortgage payments and run an average. Not meaningful really. The people with no mortgage still have a significant housing cost that appears to not be reflected in this average.
Reply With Quote Quick reply to this message
 
Old 11-30-2010, 09:37 AM
 
Location: Macao
16,260 posts, read 43,321,449 times
Reputation: 10261
Quote:
Originally Posted by Gnutella View Post
Pittsburghers owe an average of $763 per month in mortgage, car and credit card payments, below the national average of $903.

They didn't specify whether this was a comparison of all metro areas or just major metro areas, and I know that there are other forms of personal debt, but this still sounds impressive nonetheless.
That national average of $903 surprises me. Seems like it would be higher. I mean, if Pittsburgh is $763, it seems the national average would be much higher than $903 in that case.
Reply With Quote Quick reply to this message
 
Old 11-30-2010, 04:53 PM
 
Location: Foot of the Rockies
90,296 posts, read 121,098,318 times
Reputation: 35920
Pittsburgh's debt isn't extremely lower, either. It is 84% of the national average. BTW, if you look at this closely, they're saying per capita, meaning a couple has twice that debt in their household. At that point, the numbers make more sense. Maybe they aren't including leased cars, either.
Reply With Quote Quick reply to this message
 
Old 11-30-2010, 06:40 PM
 
Location: Pittsburgh area
9,912 posts, read 24,726,157 times
Reputation: 5166
Well...yeah, okay, maybe the couple thing is right, but there are a number of single households that should push that average higher. Well, of course here, that's probably not true and would help account for why it's so low here. The study expressly includes leased cars BTW, if you click on through to the Experian release.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Pennsylvania > Pittsburgh
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top