Finland also grapple with growing household debtsSunday, 22 January 2012
• The Finns have just over 85,000 in home loans on average
Finland’s household bets is growing exponentially - increased more than the amount of disposable income in 2010, reports the Statistic Finland in its latest data release.
The largest increase has to do with increasing housing loans, particularly loans for first home.
Loan-taking rose by nearly 5 percent, while revenue grew by nearly 4 percent.
Loan-taking has nonetheless grown at a slower pace in recent years compared with 2005 when the debt burden increased by as much as 15 percent. 1.5 million Finnish households were indebted in 2010 for a total sum of nearly one hundred billion euros.
Most in debt were people between the ages of 35 - 44-year-olds. Their households had debts of more than EUR 85 000 on average. 60 percent of 40-year-olds’ households had home loans. Every fourth indebted families also had children and were three times more in debt than they had as disposable income in the year.
By Scancomark.se Team
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