South Korea has its well-documented issues with household debt,... but it seems we aren't alone.
Citing data from Oxford Economics, the Bank for International Settlements and the IMF, the Wall Street Journal reports that Switzerland, Australia, Norway, Canada and South Korea are among the ten economies with the fastest-growing levels of household debt.
The report says the household debt-to-GDP ratio for some countries has risen five-to-ten percentage points over the past three years,... that's a pace comparable to the U.S. in the run up to the housing bubble a decade ago.
Conditions in countries like South Korea and Norway are even worse.
Citing data from Oxford Economics, the Bank for International Settlements and the IMF, the Wall Street Journal reports that Switzerland, Australia, Norway, Canada and South Korea are among the ten economies with the fastest-growing levels of household debt.
The report says the household debt-to-GDP ratio for some countries has risen five-to-ten percentage points over the past three years,... that's a pace comparable to the U.S. in the run up to the housing bubble a decade ago.
Conditions in countries like South Korea and Norway are even worse.
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