bearishbull
Registered User
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Can you clarify where these figures come from please?bearishbull said:personal debt levels are at around 120billion and is growing as 29% per annum!
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thats 200k for every man woman and child! average couple with two kids would owe 800k!
the figures are hypothetical projections of debt in a decades time if it continues growing at near to current rate.ClubMan said:Can you clarify where these figures come from please?
According to the Central Bank (see Finfacts summary) private sector credit is c. €268Bn while housholds account for "just" 46% of this or €123Bn. According to the [broken link removed] there are around €1.3M private housholds in the state (2002 figures) which means that the average houshold debt should be nearer €100K by my calculations. Not peanuts but perhaps not quite the picture of doom and gloom that some people might paint?
bearishbull said:the figures are hypothetical projections of debt in a decades time if it continues growing at near to current rate.
no im applying the growth in non business private sector debt to the current levels of that debt for next ten years, has nothing to do directly with house price inflation.its for illustrative purposes,obviously(hopefully) the growth will slow back to eu average which is around one third of our debt growth rate.ClubMan said:But you are applying projected house price inflation to all credit, not just mortgage credit - that does not make sense.
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