Global household leverage, house prices, and consumption

Reuven Glick and Kevin Lansing

FRBSF Economic Letter, 2010, issue jan11

Abstract: Household leverage in the United States and many industrial countries increased dramatically in the decade prior to 2007. Countries with the largest increases in household leverage tended to experience the fastest rises in house prices over the same period. These same countries tended to experience the biggest declines in household consumption once house prices started falling.

Keywords: Housing - Prices; Financial leverage; Consumer behavior; Consumption (Economics); Households - Economic aspects (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (37)

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