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Household debt in Great Britain 2008-10. Household debt is the combined debt of all people in a household, including consumer debt and mortgage loans.A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012.
Consumer Leverage Ratio in the US. The consumer leverage ratio is the ratio of total household debt to disposable personal income. [1] In the United States these are reported, respectively, by the Federal Reserve and the Bureau of Economic Analysis of the US Department of Commerce.
It is sponsored by the United States Federal Reserve Board in cooperation with the U.S. Treasury Department. Since 1992, data have been collected by the National Opinion Research Center at the University of Chicago, located in Chicago, Illinois. Data from the survey are widely used, from analysis at the Federal Reserve and other branches of ...
Debt also leads to a lower credit score and may have effects on mental health. The amount of debt outstanding versus the consumer's disposable income is expressed as the consumer leverage ratio. On a monthly basis, this debt ratio is advised to be no more than 20 percent of an individual's take-home pay. [2]
Different debt markets have somewhat different conventions in terminology and calculations for income-related metrics. For example, in mortgage lending in the United States, a debt-to-income ratio typically includes the cost of mortgage payments as well as insurance and property tax, divided by a consumer's monthly income. A "front-end ratio ...
USA household debt as a percentage of annual disposable personal income was 127% at the end of 2007, versus 77% in 1990. [ 67 ] U.S. home mortgage debt relative to gross domestic product (GDP) increased from an average of 46% during the 1990s to 73% during 2008, reaching $10.5 trillion.
Countries by household debt, loans and debt securities as % of GDP 1980 to 2022 [1]; Country 2022 2021 2018 2017 2016 2015 2010 2005 2000 1995 1990
The distribution of household incomes in the United States became more unequal during the post-2008 economic recovery. [29] Income inequality in the United States grew from 2005 to 2012 in more than two thirds of metropolitan areas. [30] Median household wealth fell 35% in the US, from $106,591 to $68,839 between 2005 and 2011. [31]