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Just Released: Great Recession’s Impact Lingers in Hardest-Hit Regions

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Abstract

The New York Fed’s Center for Microeconomic Data today released our Quarterly Report on Household Debt and Credit for the fourth quarter of 2017. Along with this report, we have posted an update of state-level data on balances and delinquencies for 2017. Overall aggregate debt balances increased again, with growth in all types of balances except for home equity lines of credit. In our post on the first quarter of 2017 we reported that overall balances had surpassed their peak set in the third quarter of 2008—the result of a slow but steady climb from several years of sharp deleveraging during the Great Recession.

Suggested Citation

  • Andrew F. Haughwout & Donghoon Lee & Joelle Scally & Wilbert Van der Klaauw, 2018. "Just Released: Great Recession’s Impact Lingers in Hardest-Hit Regions," Liberty Street Economics 20180213, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:87241
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    Keywords

    household finance; CCP; mortgages;
    All these keywords.

    JEL classification:

    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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