Hooray! A New York Fed report on Household Debt and Credit shows household debt hit an all-time high in the third quarter of 2017.

Mortgage balances, the largest component of household debt, which stood at $8.47 trillion as of September 30, saw a $52 billion uptick from the second quarter of 2017.

Balances on home equity lines of credit (HELOC) were declined slightly, and now stand at $448 billion.

Household Debt Composition

Image placeholder title

Loan Types

Image placeholder title

Mortgages by Credit Score

RECOMMENDED ARTICLES

Image placeholder title

Auto Loans by Credit Score

Image placeholder title

Deflationary Setup

With stagnant real wages, how precisely is this debt supposed to be paid back?

Here's a hint: It won't.

This increase in unpayable debt is a very deflationary setup.

Mike "Mish" Shedlock

Household Debt Still Below 2008 Peak

Household Debt Summary. Household debt for the first quarter of 2016 is up $136 billion. Mortgage debt, up $120 billion, accounts for most of the gain. Student loan debt, up $29 billion, accounts for most the rest. Total household debt still below 2008 peak

Deleveraging? Not Quite: Household Debt Quarterly Report

The Fed's household debt quarterly report shows no aggregate deleveraging although mortgage debt is below the 2008 peak.

Household Debt Climbs to Record High, Delinquencies Rise

The quarterly report on household debt shows another record high. Delinquencies are up strongly as well.

Auto Loans, Student Debt Lead Household Re-Leveraging

Mortgage debt remained essentially flat in 2015 but the brief period of household debt deleveraging ended in 2013.

Household Debt Up 18 Consecutive Quarters to a New Record, Card Stress Rising

Household debt is up 18 consecutive quarters to a new record high. Credit card stress is on the rise in most age groups.

Household Debt Hits Record High $13.29 Trillion Led by Mortgages, Student Loans

A New York Fed report shows household debt hit a new record high of $13.29 trillion in the second quarter.

Retail Apocalypse? Deflationary Collapse?

Through the third quarter, 6,752 locations were scheduled to shutter in the US according to the International Council of Shopping Centers. That's more than double the 2016 total and is close to surpassing the all-time high of 6,900 in 2008, during the depths of the financial crisis.

Debt Delinquency Trends: As Good as it Gets?

Household debts climbed by $226 billion to $12.6 trillion in the fourth quarter.

Very Deflationary Outcome Has Begun: Blame the Fed

The Fed blew three economic bubbles in succession. A deflationary bust has started.