The answer might surprise you:

Questions:

• Which type of lending saw the biggest drop during the Great Recession which began in 2008-09? What do you think led to this downturn?
• Which form of lending saw the biggest increase during the Great Recession?  How much did it increase? Why do you think it rose so much?
• What is the chart measuring on the Y axis?
• A friend says the following about the chart: “People are now borrowing more overall in 2017, then they did in 2008.” Do you agree or disagree with her on this statement?

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.