> GDP isn't a good metric to compare household debt to
It's a fantastic metric to compare aggregate debt to. It isn't the end of the story, which is why I also cited debt payments to disposable income.
American households are not, in aggregate, in a painful or even deteriorating position with respect to their debt. That doesn't mean many households, or even entire regions, e.g. West [1], aren't in pain.
Disposable income as an aggregate doesn't show a income-level class (my point). Unfortunately having up to date information on economic status given the income level is hard to get.
One reason is that in aggregate it doesn’t matter all that much: The differences between US means and medians for household financial stats are substantial but not overwhelming—and more importantly in this context, largely trend together.
It's a fantastic metric to compare aggregate debt to. It isn't the end of the story, which is why I also cited debt payments to disposable income.
American households are not, in aggregate, in a painful or even deteriorating position with respect to their debt. That doesn't mean many households, or even entire regions, e.g. West [1], aren't in pain.
[1] https://usafacts.org/articles/the-state-of-household-debt-in...