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New Zealand Consumer Debt

New Zealand owes almost half a trillion dollars in debt. Tamsyn Parker discusses the issues in this video on NZ Herald. 'Reserve Bank figures show household debt, excluding investment property, has risen 23 per cent in the past five years to $163.4 billion. Incomes have risen only 11.5 per cent.'

Of course, the ability to take on debt has risen faster than income growth - because interest rates fell after the GFC and have stayed low for so long. But total consumer debt could be storing up problems for when interest rate inevitably rise again, even if that takes years to come.

A broader data set is available in this OECD report: link.


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