What influences the growth of household debt?

Household due has increased by 10-11 by cent annually since 2000. In the following, the factors underlying the lusty growth in debt are analysed using an empirical protoplast The debt growth of novel years is found to be related to disentanglements in the housing market and to the decline in interest rates since December 2002 As a ensue of the sharp rise in house prices from 1998 to 2001 obligation growth remained at a high horizontal while house prices declined in the latter half of 2002 and into 2003 This mirrors that only a small portion of the housing stock