One Nation Under Debt

Christian Weller () and Derek Douglas

Challenge, 2007, vol. 50, issue 1, 54-75

Abstract: Four out of five Americans believe consumer debt is a problem. But some observers argue that the debt burden largely reflects the rise in housing prices. Christian Weller and Derek Douglas take a closer look at trends in borrowing by individuals. They argue that borrowing has been driven by higher costs, not investment in housing. People are worried for a good reason.

Date: 2007
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DOI: 10.2753/0577-5132500106

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