As the stock market soars to new heights, new data shows that U.S. household debt has reached a record high. U.S. Household Debt: The HighlightsOverall: The $13 trillion of household debt is $280 billion above its 2008 third quarter peak, and 16.2% above the 2013 second quarter trough. The New York Fed estimates that 23 million consumers hold subprime auto loans, which are based on a credit score below 620. Given its current relative size as a consumer loan segment, delinquent subprime auto loans from auto finance companies do not, on an absolute basis, meaningfully impact the overall economy. However, the subprime auto market is important to monitor at least in the near-term as one economic barometer.

Source: Forbes November 15, 2017 00:00 UTC