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Issue note on Danish households' wealth

The aggregate debt of Danish households has increased considerably in recent decades and amounted to approximately 3 times disposable income in 2008. However, the value of households' assets is much higher and has increased by even more over the same period. Households' wealth (i.e., total assets less total debt) amounted to more than 3.5 times disposable income in 2008. Due to falling house and share prices, asset values have been declining in recent years, but in a longer-term perspective wealth is at a high level. Household wealth is also higher than in 2003 when the most recent upswing in the Danish economy took momentum.