I propose to start this task by looking at the world economy and asking the question - which regions are increasing their share of output, and which regions are finding that their share is falling? I will use a long-running International Monetary Fund (IMF) data base for the comparisons, the results of which are shown in Tables 1 and 2.
There is a clear tendency for countries where more of the housing stock is owned by households to have a higher household debt-to income-ratio. Graph 2  Potential vulnerabilities This high level of household debt relative to income raises two potential vulnerabilities.