Household debt just surpassed the record level reached during the 2008 financial crisis, but mortgage debt down

Steve Liesman | CNBC

The New York Federal Reserve reports that household debt across the nation has hit a dubious milestone in the first quarter: It surpassed the peak debt level of 2008 at $12.7 trillion.

Household debt — including mortgages, auto and student loans, and credit cards — rose $149 billion compared with the last quarter of 2016, with nearly all the gain coming from mortgages.

Reaching the peak raises questions about whether the backdrop exists again for another financial meltdown. But the data show the current structure of debt is substantially different from 2008.

Continued:

household-debt-just-surpassed-record-level-reached-during-2008-financial-crisis-but-mortgage-debt-down

Share this!

May 18, 2017

Additional Articles

Breaking News: Arizona Governor’s Regulatory Review Council passes ADAWS rules allowing Pinal County and much of the west valley to develop!

(Disclosure: Rose Law Group represents landowners advocating for Alternative path to Designation of Assured Water Supply.) The Governor’s Regulatory Review Council today approved the Alternative

Does a new administration mean the end of no-fault divorce laws? ‘Unlikely,’ says Rose Law Group family law attorney Ashley Hutton

By Samantha Putterman | PolitiFact Within hours of President-elect Donald Trump winning the 2024 election, women took to social media with a warning: If you’re

Is the worst of the downturn in home sales over?

By Melissa Dittmann Tracey | REALTOR Mag The real estate market may be showing signs of a shift following two years of falling home sales. National Association of REALTORS® Chief Economist Lawrence Yun believes the latest

Get Involved

Write a letter to the editor

Write a guest opinion

Submit news

Stay Informed

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Recent Articles

Prosecutors say sentencing in Trump hush money case can be postponed

By NBC News New York prosecutors told the judge who presided over Donald Trump’s hush money trial Tuesday that his sentencing should be postponed while the

Maricopa County Supervisor, Board Vice Chair, and Rose Law Group partner Thomas Galvin speaks with 3TV about his proposal to speed up vote counting in Arizona

By Mitchell Koch | AZ Family The frustration with Arizona’s drawn-out elections process is well-known, and one official is hoping to change that. On Monday, Maricopa

Shruti Gurudanti, Rose Law Group partner and director of corporate transactions, weighs in on what Spirit’s bankruptcy portends for similar airlines

“Spirit Airlines’ bankruptcy highlights growing challenges and diminishing confidence in the viability of the low-cost airline business model.” -Shruti Gurudanti, Rose Law Group partner and

Supervisor Galvin Proposes Election Reforms, Calls for 24-Hour Results

Phoenix, AZ— Maricopa County Supervisor Thomas Galvin of District 2 announced today a series of election administration reforms that will expedite the tabulation of ballots with the goal

China sets boundaries for Trump with 4 ‘red lines’

By Business Insider It’s another two months before US President-elect Donald Trump takes office, but China is already setting boundaries between the two countries. On

Rose Law Group Founder and President Jordan Rose on what to expect from other Valley cities after Phoenix balks at loosening casitas design standards further

By Mark Carlisle | YourValley A state bill earlier this year loosened some regulations the city of Phoenix had in place for casitas. One member of

M	T	W	T	F	S	S
1	2	3	4	5	6	7
8	9	10	11	12	13	14
15	16	17	18	19	20	21
22	23	24	25	26	27	28
29	30	31

Household debt just surpassed the record level reached during the 2008 financial crisis, but mortgage debt down

Additional Articles

Breaking News: Arizona Governor’s Regulatory Review Council passes ADAWS rules allowing Pinal County and much of the west valley to develop!

Does a new administration mean the end of no-fault divorce laws? ‘Unlikely,’ says Rose Law Group family law attorney Ashley Hutton

Is the worst of the downturn in home sales over?

News Categories

Get Involved

Stay Informed

Recent Articles

Prosecutors say sentencing in Trump hush money case can be postponed

Maricopa County Supervisor, Board Vice Chair, and Rose Law Group partner Thomas Galvin speaks with 3TV about his proposal to speed up vote counting in Arizona

Shruti Gurudanti, Rose Law Group partner and director of corporate transactions, weighs in on what Spirit’s bankruptcy portends for similar airlines

Supervisor Galvin Proposes Election Reforms, Calls for 24-Hour Results

China sets boundaries for Trump with 4 ‘red lines’

Rose Law Group Founder and President Jordan Rose on what to expect from other Valley cities after Phoenix balks at loosening casitas design standards further

Post Calendar

Household debt just surpassed the record level reached during the 2008 financial crisis, but mortgage debt down

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!