“There are now more auto loans than mortgages in the U.S., but most of them are going to older Americans, according to New York Fed data. Borrowing for vehicles reached $814 billion in the second quarter, an increase of $20 billion from the previous quarter. The 2.5% jump was bigger than any other loan category in the quarter. The recovery has come faster for older Americans. The only group originating more loans than before the recession are people over 50, likely a result of aging Baby Boomers. But 18 to 29 year olds haven’t seen much of a recovery. Meanwhile, student loan borrowing is up 82% from prerecession levels.”
http://blogs.wsj.com/economics/2013/08/14/more-car-loans-than-mortgages-in-u-s/
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