Older households are also more likely than before to have an investment property with a mortgage and it has become more common to have a mortgage at the time of retirement. 7 / 14  BIS central bankers' speeches  We also look at the share of households with a debt-to-income ratio above specific thresholds.
In 2002, around 12 per cent of households had debt that was over three times their income (Graph 8). By 2014, this figure had increased to 20 per cent of households. There has also been an increase, although not as pronounced, in the share of households with even higher debt-toincome ratios.