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HOUSEHOLD DEBT - Coggle Diagram
HOUSEHOLD DEBT
SOCIAL CONTEXT
WELFARE RETRENCHMENT
SOCIAL NORMS
: :
ECONOMIC CONTEXT
FINANCIALISATION
EASY CREDIT ACCESS
MORTGAGE BOOMS
RISING ASSET PRICES
WAGE STAGNATION
CONSEQUENCES
WEALTH INEQUALITY (ASSET OWNERS VS RENTERS
VULNERABLE HOUSEHOLD (LOW INCOME,SINGLE PARENTS AND MINORITIES)
FINANCIAL INSTABILITY (2008 CREDIT CRISIS)
INTERGENERATIONAL INEQUALITY
REDUCED SOCIAL MOBILITY
POLITICAL CONTEXT
POLICY & DEREGULATION
ENCOURAGEMENT OF HOME OWNERSHIP
LOW INTEREST RATES
POLITICAL SUPPORT FOR THE FINANCIAL SECTOR