 | The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. (December 2013) |
Household debt is the combined debt of all people in a household, including consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.[1][2][3]
- ^ NYT-Paul Krugman-Block those Metaphors-December 2010
- ^ IMF-Report Extract Chapter 3 – April 2012
- ^ Mian, Atif and, Sufi, Amir (2014). House of Debt. University of Chicago. ISBN 978-0-226-08194-6.
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