Historically,household debt in the U.S.:

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Household debt in the U.S. had been rising steadily since the Great Depression until the early 2000s, when it accelerated. This increase was largely due to the liberalization of financial and lending practices, as well as the widespread use of credit cards and home equity loans. However, this trend came to a halt during the Great Recession in 2008, when many households were left with significant amounts of debt and declining home values.

Historically,household Debt in the U.S