Image Source: Pixabay
 

The total debt balance of US consumers is approaching $19T. The largest debt composition is from mortgages, representing 70% of total debt. We can see that from 2008 till 2013, consumer debt went down. From 2013 till 2020, the debt went slightly up and it seems it took a sharp turn upward since then. 
 

Source: New York Fed Consumer Credit Panel/Equifax
This graph was produced by Lucas Juery, CFA, CFP^Ⓡ and is not intended to provide financial advice.
 

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