U.S. families’ debt burdens have settled down to their lowest level in over a decade, putting the economy on a stronger footing relative to global rivals going into 2015, the Wall Street Journal reported today. With home values rising, Americans are beginning to borrow more, a development that could help lift spending and juice the U.S. economy. Total U.S. household debt, when measured as a share of disposable income, has fallen from a peak of 135 percent in late 2007 to 108 percent this year through September, according to a Federal Reserve report yesterday. That’s the lowest sustained level since early 2003 and far below levels among households in Britain, Canada and Japan.
