Wow that's surprising given that new cars and houses are so much more pricey these days. I guess the average person is earning a lot more than in 2008.
There's a bifurcation, with some people (mostly homeowners who owned pre-2020) getting a giant handout from the government (record low interest rates, ability to refinance, etc - due to the FED buying mortgage backed securities en masse), and the rest of the people getting shafted.
My guess is that that post-financial crises the banks made it harder to give out loans which would decrease the amount of household debt over time as more households get declined on loans.