Family Finances

household budgetHousehold liabilities peaked in Q3/08 at $14.3 trillion. They then declined, bottoming at $13.3 trillion in Q3/12. They have steadily risen since and are now $14.2 trillion. As a percentage of GDP, household liabilities peaked at 98.2% of GDP in Q2/09 and have steadily fallen and are now just 79.5% of GDP. Better yet, household net worth is now at a record $86.8 trillion. Household balance sheets are looking good.

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