The total level of household debt has grown, but - the ratio of debt to personal income, and - the ratio of debt to GDP has decreased steadily and signif

The total level of household debt has grown, but - the ratio of debt to personal income, and - the ratio of debt to GDP has decreased steadily and significantly since the financial crisis. These ratios are now the lowest since 2002. Households owe more, but they are also making more money and creating more value.