Attention has been lavished on the recent rise in consumer debt levels, and in fact, household debt of all types has increased rapidly throughout the 1990s. For example, mortgage debt has grown more than 50% since the beginning of the decade (to $3.75 trillion by the first quarter of 1996), while revolving credit has increased a whopping 127% (to $456 billion by September).
Suggested citation: “Consumer Debt,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-12, pp. 17, 12.01.1996.