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US households owe record amount, topping pre-recession peak

  • Posted May 17
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US households owe record amount, topping pre-recession peak
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U.S. household debt reached a record high in the first quarter of 2017, topping the previous 2008 record before the economy plunged into recession. While borrowing has increased over the last three years, how people borrow has changed since the recession. The bulk of household debt comes from student and auto loans whereas mortgages and credit card debt remain at pre-recession levels.

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