House prices and apartment rents have risen significantly recently, but per capita personal income has risen faster over the past 25 years.
Per capita auto debt rose 8.3 percent in the second quarter on a year-over-year basis, while total consumer debt rose only 1.6 percent.
Significant deleveraging, coupled with increases in other forms of debt, has caused mortgage debt to make up a smaller portion of households’ total debt.
Despite major stock indexes hitting record highs, stock mutual funds have seen net outflows for many months.
Since the financial crisis, households nationally have sharply reduced their debt while Eighth District households have largely stayed the same.