Household Deleveraging: Almost Over?


Below I give you two related (and therefore similar) measures of household leverage: Household Debt Service Payments and Household Financial Obligations, each as a Percent of Disposable Personal Income:

hhld debt svc and fin obs

Each has hit a record or near-record low for the maximum observable period (regrettably only 33 or so years).

The question must be asked: Is the era of consumer deleveraging, which began just prior to the start of the recession, at an end?


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