Household wealth in the US is rising, according to Société Générale Private Banking (SGPB). “As wealth has increased on the back of rising housing and equities prices, US households have been more inclined to consume [which is known as a positive wealth effect],” says Xavier Denis, economist at SGPB in Paris.
Equity release schemes have meant that “households used their assets as collateral to get refinanced and increase their consumption even more,” says Denis. “Between 2000 and 2007, US househo
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