Hi!
Noch etwas Nachtlektüre gefällig?
<font size="4">Record Leverage in Household Balance Sheets</font>
December 10, 2001
On Friday, the Fed released its flow-of-funds data for the third quarter. As shown in Chart 1, households' liabilities relative to their assets hit a post-World War II high of 17.0% in the third quarter.
What wasn't the same can be seen in Chart 3. That"all else" was the behavior of household asset values. In 1999 and early 2000, assets were shooting up in price. So, even though household borrowing was increasing, asset values were increasing even faster, thus bringing down the liabilities-to-asset ratio. But when the stock market turned down after the first quarter of 2001, capital losses worked in tandem with increasing debt to raise the liabilities-to-assets ratio for households. And, so far in 2001, capital losses continue as the pace of borrowing has moved up, hence taking the debt-to-assets ratio to a record high.
Quelle
schöne Grüsse + gute Nacht
Cosa
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