US mortgage balance hits record high November 18 8:02
It can be seen that the US mortgage balance has increased to a record high of 1019 trillion yen in Japanese yen, suggesting that housing purchases are progressing against the backdrop of economic expansion and low interest rates.
According to statistics compiled by the US New York Fed this month, the balance of mortgages from July to September was $ 9,440 billion (1019 in Japanese yen), 3.2% higher than the same period of the previous year. Trillion yen).
This is a record high, surpassing the $ 2.9 trillion recorded in 2008 just before the so-called Lehman shock.
In the United States, it is common to buy a house a few times in a lifetime, and the economic expansion has continued to increase asset value, making it easier to borrow money at low interest rates, and purchasing housing. I can see.
On the other hand, there are numbers that you care about.
It is a “student loan” that borrows funds for attending universities and graduate schools. According to the same statistics, the balance is 1.5 trillion dollars (about 162 trillion yen in Japanese yen), but the growth rate is 3.9%, which is higher than mortgage loans It has become.
Student loans have a heavy burden of repayment even after graduation, and experts have pointed out that they can no longer afford to make new loans.
For this reason, in the long term, it has become a concern for the US economy as there may be fewer people buying new homes.
Expert: “If future consumption is sluggish”
In this regard, Tetsuo Ishihara Macrostrategist of Mizuho Securities in the United States said, “It may be the result of the inflow of foreign funds due to the moderate expansion of the US economy and global monetary easing, which has pushed up housing prices.”
In addition, Mr. Ishihara said that the number of students who could not get a satisfactory job even with a high academic background was increasing, and, `` In the past, young people bought a house first, married and moved to a big house and finally downsized There was a trend of once again in the house, but for example, the ratio of living with parents has become the highest ever since it is not possible to get a job with a degree, which will add weight to the housing market I think. "
Mr. Ishihara said, “Since we have a student loan, we can't borrow a mortgage, and we ca n’t borrow it because our income is not stable. I think that future consumption will be sluggish, "he said, and pointed out that the increase in student loans could affect future consumption, a pillar of the US economy.
Obama also struggled with student loans
The increase in “student loans”, which is a heavy burden of repayment even after graduation, is one of the social problems in the United States.
In the United States, there are many people who go on to graduate school even with a student loan in order to get a higher income. Even when using the public system, the interest rate is 5% to 7% per year. It is expensive and will be repaid for a long time after graduation.
Former President Obama also enrolled in Columbia University Law School, which required a tuition fee of more than 5 million yen in the first year alone, and made a student loan. It is clear that it was 44 years old just before being elected.
Obama said in a later talk, “It was really hard to get paid even if I got married.”
Currently, the balance of student loans is JPY 162 trillion in Japanese yen, but it is showing high growth every year. In 2010, it was the second largest after mortgages, excluding credit card loans.
In addition to the problem that mortgages cannot be made due to the heavy burden of student loans, it is pointed out that if the examination is made too loose, it will lead to an increase in loans with low creditworthiness that caused the financial crisis.