The debt of Americans exceeded the peak level of crisis 2008 year

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The debt of American families exceeded the record level reached in 2008, which is an important milestone for recovery and shows that consumers are taking loans again.

But while the debt hasn't reached the levels of risk that hit the financial system nine years ago, there are still some signs of potential problems, notably high student loan debt and delinquency.

This edition writes USA Today.

The Federal Reserve Bank of New York said that the balance (difference between income and expense) of American households' debt increased in the first quarter by $ 149 billion, or 1,2%, to $ 12,73 trillion. That's slightly above the $ 12,68 trillion peak in 2008 and 14,1% higher than in 2013.

But the composition of this debt is very different from what was on the verge of the 2008 financial crisis of the year. Although mortgage loans still make up the majority of liabilities, they represent a much smaller share, and the jump was due to student debt and auto loans.

“The debt itself and the creditors look very different today,” said Donghoon Lee, a research fellow in New York.

In addition, family debt amounted to almost 100% of personal income in 2008, compared to 80% at present, which represents a much lower risk for individual solvency and the wider economy, said Mark Zandi, chief economist Moody's Analytics.

“The latest milestone is a good thing,” Zandi said. “People need loans to do what they want to do—improving their household, starting a business.”

In the first quarter, outstanding mortgage debt increased by $ 147 billion, while the number of mortgage loans increased by $ 491 billion.

Student loan debt rose by $ 34 billion to $ 1,34 trillion.

Auto loan debt has increased by $ 10 billion to $ 1,17 trillion and has grown steadily since the economic downturn amid low interest rates and dealer incentives. And credit card debt fell $ 15 billion to $ 764 billion.

Total debt last quarter was 4,8%, the lowest level since the start of the recession. But there were also some points of concern. 11% of student loan debt was at least 90 days late, a figure announced by the New York Federal Reserve Fund remained stubbornly high.

And the debt on car loans and credit cards was higher, and car loans, from 90-day overdue, rose to 7,5% from 7,1% in the first three months of the year.

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