Journal Article
The When, What and Where of Consumer Debt: The View from Cook County
Abstract: Consumer debt grew rapidly in the years leading up to the Great Recession, and contracted sharply in its immediate aftermath. This credit cycle played out unevenly among households with different financial means and in different parts of the country. While much attention has been paid to mortgages, other debt categories, such as automobile and student, play an important role in household finances. Consequently, we analyze trends in both mortgage and non-mortgage debt across income groups during the period surrounding the Great Recession.
Keywords: debt; low income; Cook County (Ill.); poverty; mortgage;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Profitwise
Publication Date: 2016
Issue: 3
Pages: 6-11