Happy Households
11/26/2013 | | bitcoin, consensus, debt levels, econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, file-sharing, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, household deleveraging, households, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist
In a sign that household deleveraging may be over, outstanding household debt grew by $127 billion in Q3 and now stands at $11.28 trillion. While down 11% from the peak of $12.7 trillion set in 2008, after essentially 20 straight quarters of deleveraging, this is great news. Mortgage debt rose by $56 billion, credit card debt by $4 billion, auto loans by $31 billion and student loans by $33 billion.