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New York (CNN Business) US households are now sitting on a record $14 trillion in mortgages, credit cards, student loans and other forms of debt.

Household debt has climbed about 25% from the post-recession low of $12.7 trillion.

Student loans climbed by 1.4% to $1.5 trillion, while credit card balances rose $13 billion during the third quarter.

Boockvar noted that household debt relative to income remains “way above” the levels of the 1980s and 1990s.

Default rates in black-majority zip codes are double those in white-majority zip codes, NY Fed economists found.