Don ’ t miss the Next edition of Real Estate Investor Mag for Part 2
The Debt Mix
A concerning aspect of South Africa ’ s households ’ debt landscape in 2024 is the composition of new debt applications . Vehicle finance accounts for 23 % of debt , home loans for 26 %, but the most alarming is unsecured debt , which constitutes 50 % of total debt . Unsecured debt , without a collateral requirement , is a significant factor in financial distress . Many individuals prioritize paying off unsecured debts to avoid immediate repercussions , often neglecting secured debts like mortgages , which can lead to severe consequences such as home loss .
Don ’ t miss the Next edition of Real Estate Investor Mag for Part 2
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