Bottom Half Of Households: Ten Years To Recover
by UPFINA
Article of the Week from UPFINA
Heading into this recession, consumers were in relatively good shape on a historical basis. They were in dramatically better shape than they were at the end of the last expansion because that was the peak of the long term debt cycle. It’s tough to have as much leverage as there was at the peak of the housing bubble because mortgage debt is by far the biggest liability on the consumer’s balance sheet.
Source: http://econintersect.com/pages/analysis/analysis.php?post=202004300401
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