If you look at that chart over a longer period, you see that household debt to income has been rising for quite a number of years—in fact, since the early 2000s—and so what took such a long time to build up is going to take a bit of time to wind down. You have to remember that the buildup is accompanied by the purchases of assets—housing, for the most part—and so there's another side of that balance sheet that households have, and the net worth numbers would show a slightly more reassuring story.
On April 23rd, 2018. See this statement in context.