Over the same period, the wage at the 10th percentile, near the bottom of the wage distribution, rose just 4 percent, while the wage at the 90th percentile, close to the top of the distribution, rose 34 percent.
However, the development of a speculative bubble and its subsequent shattering happened also due to the reckless financial behaviour of households, including the most vulnerable ones who contracted mortgages they should not have subscribed to, considering their financial circumstances.