Norges Bank: co-op loans less salient
A Norges Bank paper published on Wednesday says that salience may have a significant effect on homeowner's borrowing behaviour in favour of less salient but more costly loans.
Johan Almenberg and Artashes Karapetyan, the paper's authors, conduct a consumer survey that looks at apartment owners self-reported awareness of personal and co-op loans in Sweden. The survey results showed most participants were well informed about their personal mortgage but completely ignorant about the debt held by
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