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Households owe record amount, topping pre-recession peak

The Federal Reserve Bank of New York said Wednesday that household debt, which also includes home equity lines of credit, stood at $12.73 trillion in the first quarter. That's above the $12.68 trillion outstanding in the fall of 2008, the previous record. The figure isn't adjusted for inflation or population size. Even with debt levels back to record heights, analysts note that household borrowing appears more sustainable now than it did nearly a decade ago.
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