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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (30278)	4/28/2005 3:55:26 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

When you're carrying staggering debts, relative to your income, as consumers in the US and UK do its difficult to make big percentage increases in your debt load. You amaze yourself with the fact that personal debt has grown over the past 28 years at an 8% rate in the US while it has grown at a 12% rate in Australia. Typical Monetarist piffle. I'll amaze you further with the insight that each consumer's debt in America is four times larger than it is in Australia. Likewise mortgage debt over the past 28 years has grown at an 8% rate in the US and at a 10% rate in Australia off of a lower base. Now that you realize any change in small numbers results in a large percentage change, you'll be less amazed next time you run into this aspect of math. .