***  2  BIS Review 12/2004  In contrast to the increase for homeowners, the rise in debt service ratios was steep for renters in the latter half of the 1990s. The rise for renters, as for homeowners, is concentrated in credit card lending and thus may reflect some of the same factors that have influenced homeowner debt service ratios.
27 Aaronson and others (2014). Also see Council of Economic Advisers (2016) and the studies cited therein. 28 Blau and Kahn (2016).