Non-Housing Debt

"If he makes anybody rich, let him make himself rich...so he can pay off his school loans."
--Carl Fox (Wall Street)

Consumers have been taking on more non-housing debt over the past decade. It now comprises about 30% of household debt (mortgage-related debt comprises the remaining majority).

While car loan debt burden has been on the rise, student loans are the primary contributor to the increase. Their share of consumer debt has more than tripled since 2003.

Credit card debt, on the other hand, as declined slightly as a fraction of total consumer debt.