Household Debt Soared By $1 Trillion, Highest Jump Since 2007
Household debt in the U.S. increased by $1 trillion, the highest annual growth since 2007, showing that Americans were much more in debt in 2021. Mortgage debt saw a significant increase while rising car prices drove the numbers higher. Q4 2021 hedge fund letters, conferences and more Household Debt Shots UpAs informed by CNN, the $1 trillion household debt jump in 2021 was the biggest in a year since 2007, while Q4 was also the largest quarterly increase since the same year as it grew by $333 billion. The report by the Federal Reserve Bank of New York also establishes that mortgage debt and c...