Mortgage Debt Has Risen as a Percent of Household Income, Particularly after the Tax Reform Act of 1986

Year	Mortgage Debt to Total Household Debt (percent)
1970	0.628017644
1971	0.622286282
1972	0.62152846
1973	0.615040599
1974	0.619574406
1975	0.627553367
1976	0.633447464
1977	0.638668447
1978	0.642719496
1979	0.649072664
1980	0.664999429
1981	0.663533176
1982	0.655342199
1983	0.645883293
1984	0.64070643
1985	0.636348468
1986	0.649405863
1987	0.663081708
1988	0.67438364
1989	0.681999658
1990	0.696132013
1991	0.708553368
1992	0.716420717
1993	0.71372139
1994	0.700289647
1995	0.68591558
1996	0.682676467
1997	0.684825093
1998	0.685962456
1999	0.692136548
2000	0.688545395
2001	0.693819192
2002	0.70852583
2003	0.722872033
Source: Federal Reserve Flow of Funds.