Consumers were able to assume an increasing amount of household debt during the 2000s because:

Question

Quizplus · Accepted Answer

Low interest rates made borrowing easier and more affordable, which incentivized consumers to take on more debt. Real wages did not increase dramatically during the 2000s and interest rates were not so high that people found it easy to save their extra income. The U.S government did not make it easier for people to declare bankruptcy during this time period.

Consumers Were Able to Assume an Increasing Amount of Household