Boris Chafwehe, Mattia Ricci, Daniel Stöhlker
The cost-of-living-crisis has been a major concern for households across the world. This column examines the impact of the crisis on household wealth across various demographic and income groups in six euro area countries, focusing on the role of households’ mortgage status. The findings indicate that working-age mortgage holders have experienced wealth gains despite higher interest payments, due to the reduction in the real value of their mortgage debt. The authors show that the relative gains recorded by mortgage-holders are a key factor in explaining differences in the effects of the crisis across demographic groups.
Πηγή: Voxeu