The Household Balance Sheet
Consumer debt as a share of income, which has risen sharply since 1992, has reached a historic peak. This development - together with a more gradual rise in the ratio of mortgage debt to income - has increased concerns that debt - burdened consumers might soon retrench and hinder the expansion.
Suggested citation: “The Household Balance Sheet,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-04, pp. 10, 04.01.1996.