Total household debt first peaked in 08Q3 at $12.68 trillion, 85.5% of GDP. $9.99 trillion was housing debt, $2.69 trillion non-housing debt. Household debt then declined steadily, bottoming in 13Q2 at $11.15 trillion, or 67% of GDP; $8.38 was housing debt and $2.77 non-housing debt. Household debt has since steadily risen and is a record $13.29 trillion, 65.1% of GDP. $9.43 is housing debt, less than in 08Q3; $3.86 non-housing.
Elliot F. Eisenberg, Ph.D.