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Household debt rates in America are better than most of Western Europe and comparable to Germany [0].

FYI the Nordic states and Netherlands tend to have the highest household debt rates amongst European OECD states [0].

[0] - https://www.oecd.org/en/data/indicators/household-debt.html

they also have generous social protections that allow them to handle the associated risk.

easy to take on a lil more debt if you know you have healthcare and employment protections.

If so South Korea, Portugal, and Canada wouldn't have Nordic level household debt rates despite have significantly less permissive (and in SK's case functionally non-existent) social safety nets compared to Nordics.

Swedish 5y mortgage rates are at about 3.1%. US is at twice that.

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