House­hold Debt Is Up, And So Is Op­ti­mism

Honolulu Star-Advertiser - - BUSINESS -

Amer­i­cans have now bor­rowed more money than they did at the height of the credit bub­ble in 2008, just as the global fi­nan­cial sys­tem be­gan to fall apart. To­tal house­hold debt had reached a new peak — $12.7 tril­lion — in the first three months of the year, ac­cord­ing to the Fed­eral Re­serve Bank of New York. The debt level shows that many Amer­i­cans who strug­gled dur­ing the re­ces­sion have suf­fi­ciently re­paired their credit to qual­ify for loans. It also speaks to grow­ing op­ti­mism among lenders about eco­nomic growth.

DON IPOCK FOR THE NEW YORK TIMES

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