The New York Federal Reserve: Household Debt and Credit Report

Recently, I posted this article, “Americans: The Increasing Debt Balance”. It referenced the findings from the New York Federal Reserve’s report. Here is an excerpt directly from the New York Fed’s report:

“Household Debt Continues to Rise; Mortgage Originations Hit 14-Year HighThe CMD’s latest Quarterly Report on Household Debt and Credit reveals that total household debt increased by $193 billion, or 1.4 percent, to reach $14.15 trillion in the fourth quarter of 2019. This marks the twenty-second consecutive quarterly increase, with total household debt now $1.5 trillion higher, in nominal terms, than the pre-recession peak of $12.68 trillion, set in the third quarter of 2008. Mortgage originations rose by $224 billion, or 42 percent, in the fourth quarter of 2019 to reach $752 billion, the highest volume seen since the fourth quarter of 2005.”

The one of findings that makes for a strong concern is the number of mortgage originations. It’s difficult to take that figure and draw conclusions regarding the real estate market, but this number does create the need to take a sharp eye at the real estate market.
The overall household debt rising, in my opinion, shows that many households are attempting to maintain a standard of living in this hyper consumption Inflationary based economy.

Read the New York Fed’s report here: https://www.newyorkfed.org/microeconomics/hhdc

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