Household debt climbed to $12.58 trillion by the end of 2016, nearly breaking 2008’s record high, the article stated. In fact, if it continues at this rate, household debt could break the high of $12.68 trillion sometime in 2017.
Household debt to hit new record in 2017
Household debt climbed to $12.58 trillion by the end of 2016, nearly breaking 2008’s record high, the article stated. In fact, if it continues at this rate, household debt could break the high of $12.68 trillion sometime in 2017… Read more at Housingwire.com
The Federal Reserve Bank of New York reported last week that US household debt reached a new all-time high in the 1Q of this year. The new report also included some troubling internal metrics, not only on the overall household debt levels but also with regard to the level of delinquencies. I’ll give you the details below.
Household Debt Hits New Record High, Stocks Stumble
The New York Fed reported that US household debt and credit hit a new all-time high in the 1Q, despite the fact that the economy continues to recover (albeit slowly), the unemployment rate continues to fall and business investment has increased. The Fed reported that household debt climbed to a record $12.73 trillion at the end of the 1Q, up $149 billion from the 4Q of last year. Gains in mortgage debt, auto debt and student loan debt were all cited as reasons for the… Read more at Valuewalk.com
U.S. Household Debt: A New, Alarming Milestone
U.S. debt is on the rise and could reach a milestone level sometime in 2017. Student debt has risen for 18 consecutive years, and subprime loans are a growing worry in another sector… Watch here