Happy Households
11/26/2013 | | Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Graphsandlaughs, MLS, Multiple listing service, Public speaking economist, bitcoin, consensus, debt levels, econ70, economist on TV, economist on radio, eisenberg and economics, file-sharing, funniest economist, funny housing economist, graphsandlaughs and eisenberg, household deleveraging, households, housing sales, mortgage banking, politics and economics
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.