This was driven by a housing bubble , which encouraged Americans to take on larger mortgages and use home equity lines of credit to fuel consumption .
U.S. household debt rose from approximately 65 % GDP in Q1 2000 to 95 % by Q1 2008 .
This was driven by a housing bubble , which encouraged U.S. to take on larger mortgages and use home equity lines of credit to fuel consumption .
U.S. household debt rose from approximately 65 % GDP in Q1 2000 to 95 % by Q1 2008 .