Dudley says US households responding more cautiously to house price growth
New York Fed report finds housing debt has been relatively flat over past few years
Households in the US seem to be "much more cautious" in how they are responding to rising house prices now than in the run-up to the financial crisis, William Dudley has argued.
Speaking at the release of the Federal Reserve Bank of New York's latest Household Debt and Credit Report, on February 12, its president noted mortgage balances had "essentially stabilised".
As of December 31, 2015, total household indebtedness was $12.12 trillion. The largest component, at $8.74tn, was housing debt
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Lebanon’s depositors unlikely to see compensation, say analysts
Economists remain pessimistic, with one saying central bank should seek external help
EBA launches stricter EU-wide stress test for 2025
Banks face more scrutiny of credit risks following “overly optimistic projections” in past exercises
IMF commends Ethiopian central bank’s reforms
Institution says NBE’s measures helped country make progress in debt restructuring talks
Vietnam’s central bank orders takeovers of two lenders
SBV continues with plan to force stronger banks to take over weaker ones
BoE governor calls for greater global financial regulation
Bretton Woods institutions need to be proactive in an increasingly shock-prone world, Bailey says
Stress-test findings should be combined – BoE’s Benjamin
Bank’s director of financial stability strategy emphasises importance of “joining the dots”
Libyan central bank calls for prompt transfer of oil revenues
Bank cites growing demand for FX, as state oil company insists transfers have been regular
Lending conditions risk re-run of 2008 crisis, says FDIC chair
Gruenberg says proliferation of non-banks is adding to financial stability risks