The Wealth of the 1%: How Much Debt Could it Erase?

With the top 1% of earners in the United States bringing home an average of $16.4 million annually, how many mortgages or student loans could the average "one percenter" erase?

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Average Household Mortgage Debt

• At the end of the second quarter of 2012, Americans had $13,216,356,000,000 in outstanding mortgage debt.
• 2011 population estimate: 311,591,917
• Homeownership rate: 66.6%
• Average household mortgage debt: $149,981

Average Student Loan Debt

• Class of 2011: average student loan debt: $26,000

Doing the Math

• At $26,000 each, the top 1%'s average income could pay off the student loans of 631 people.
• At $149,981 each, the top 1%'s average income could pay off 109.34 mortgages.

This infographic was provided exclusively by Total Bankruptcy.