Rising Household Debt: What It Means for Growth and Stability
By Nico Valckx
October 3, 2017
Versions عربي (Arabic), 中文 (Chinese), Español (Spanish), Français (French), 日本語, (Japanese), Русский (Russian)
Household debt, including mortgage debt, has been on the rise since the global financial crisis (photo: Louoates/iStock).
Debt greases the wheels of the economy. It allows individuals to make big investments today–like buying a house or going to college – by pledging some of their future earnings.
That’s all fine in theory. But as the global financial crisis showed, rapid growth in household debt – especially mortgages – can be dangerous. […]