An article in the Wall Street Journal in 2019 noted that "Total household debt has been on the rise since mid-2013. It rose by 1.4% from the first quarter to $13.86 trillion, the 20th consecutive quarter of increase."
Source: Harrier Torrey, "U.S. Mortgage Debt Hits Record, Eclipsing 2008 Peak," Wall Street Journal, August 13, 2019.
Why do households typically borrow money?
A. Households typically borrow money when interest rates are high-the higher the interest rate, the greater the reward.
B. Households typically borrow money because they enjoy the risks that come with buying and spending.
C. Households typically borrow money just because they want to.
D. Households typically borrow money to fund the purchase of consumer durables like houses and cars.