HomeFairfax General ForumArrest/Ticket SearchWiki newPictures/VideosChatArticlesLinksAbout
Off-Topic :  Fairfax Underground fairfax underground logo
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
U.S. household debt hits record high of $14.15 trillion
Posted by: WOWWWWWWWWW ()
Date: February 15, 2020 01:56PM

Total U.S. household debt reached a record $14.15 trillion at the end of the year after increasing by $193 billion, or 1.4%, in the fourth quarter of 2019, according to the Fed’s Quarterly Report on Household Debt and Credit.

The report, based on “a nationally representative sample of individual- and household-level debt and credit records drawn from anonymized Equifax credit data,” noted that total household debt is now nominally $1.5 trillion higher than the pre-recession peak of $12.68 trillion in the third quarter of 2008.

The rise in household debt, led by mortgage balances, marked the 22nd consecutive quarterly increase. Housing balances rose $120 billion from Q3 to December 31, 2019, ending the year at $9.56 trillion.

Read more: How to manage debt

Non-housing balances increased by $79 billion in the fourth quarter to hit a record $4.20 trillion. The Q4 increases included $16 billion in auto loans, $46 billion in credit card balances, and $10 billion in student loans.

Options: ReplyQuote


Your Name: 
Your Email (Optional): 
Subject: 
Attach a file
  • No file can be larger than 75 MB
  • All files together cannot be larger than 300 MB
  • 30 more file(s) can be attached to this message
Spam prevention:
Please, enter the code that you see below in the input field. This is for blocking bots that try to post this form automatically.
 **     **  ********    *******   **      **  **        
 **     **  **     **  **     **  **  **  **  **    **  
 **     **  **     **  **         **  **  **  **    **  
 **     **  ********   ********   **  **  **  **    **  
 **     **  **     **  **     **  **  **  **  ********* 
 **     **  **     **  **     **  **  **  **        **  
  *******   ********    *******    ***  ***         **  
This forum powered by Phorum.