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by viking1066
1193 days ago
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It would make sense to correct for home ownership rate. With higher rates of home ownership, a higher debt is justified. For example USA and Germany seems to have about the same level of household debt, but USA has 65% home ownership rate, while Germany has only 51%. https://en.wikipedia.org/wiki/List_of_countries_by_home_owne... The other interesting thing is that South Europe in general has a longer history of financing public works like churches, than Northern Europe, but in terms of household debt, that relationship seems inverted. |
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