In 17Q1, household debt rose by $149 billion and now totals $12.73 trillion, surpassing the previous peak of $12.68 trillion set in 08Q3, 8.5 years ago. Mortgage debt currently equals $8.63 trillion or 68% of all household debt. In 08Q3, mortgages totaled $9.99 trillion or 78% of all debt. Today, student loans total $1.34 trillion, 11% of all debt, back then they were $610 billion or 5% of debt.
Elliot F. Eisenberg, Ph.D.