Comment: Risks in housing finance

Personal debt levels in the UK and USA are at record highs, while savings rates have fallen to record lows. As concerns grow over the risks posed to financial stability and economic performance, central banks and regulators are having to consider how their policies contributed to the current situation.


UK Credit Action statistics for September show personal debt stands at £1.11 trillion, up 10.7% over the past year. The savings rate in the USA fell to -0.6% in July, the

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