Summarise the main features of households with financial and mortgage debt by age given in Tables 1a
Question:
Summarise the main features of households with financial and mortgage debt by age given in Tables 1a and 1b below and comment on differences between and within age groups over time.
Table1a Households with financial debt by age of household reference person (HRP)1,2,3 | |||||||||
Great Britain, July 2006 to June 2016 (Total million) | |||||||||
July 2006-June 2008 | July 2008-June 2010 | July 2010-June 2012 | July 2012-June 2014 | July 2014-June 2016 | |||||
18 to 34 | 26,000 | 25,000 | 28,000 | 29,000 | 29,000 | ||||
35 to 44 | 25,000 | 27,000 | 26,000 | 22,000 | 27,000 | ||||
45 to 54 | 20,000 | 25,000 | 29,000 | 29,000 | 32,000 | ||||
55 to 64 | 12,000 | 13,000 | 16,000 | 15,000 | 21,000 | ||||
65 to 74 | 4,000 | 4,000 | 4,000 | 5,000 | 6,000 | ||||
75 and older | 1,000 | 1,000 | 1,000 | 2,000 | 2,000 | ||||
All | 88,000 | 95,000 | 105,000 | 101,000 | 117,000 | ||||
Table1b Households with mortgage debt by age of household reference person (HRP)1,2,3 | |||||||||
Great Britain, July 2006 to June 2016 (Total million) | |||||||||
July 2006-June 2008 | July 2008-June 2010 | July 2010-June 2012 | July 2012-June 2014 | July 2014-June 2016 | |||||
18 to 34 | 255,000 | 246,000 | 226,000 | 225,000 | 214,000 | ||||
35 to 44 | 371,000 | 367,000 | 361,000 | 364,000 | 379,000 | ||||
45 to 54 | 225,000 | 249,000 | 297,000 | 306,000 | 332,000 | ||||
55 to 64 | 86,000 | 93,000 | 101,000 | 116,000 | 138,000 | ||||
65 to 74 | 17,000 | 19,000 | 21,000 | 36,000 | 44,000 | ||||
75 and older | 9,000 | 7,000 | 5,000 | 8,000 | 10,000 | ||||
All | 961,000 | 980,000 | 1,012,000 | 1,056,000 | 1,116,000 | ||||
Source: Wealth and Assets Survey (2018)
Expert Answer:
Answer The main features of households with financial and mortgage debt by age as shown in Tables 1a and 1b can be summarized as follows Financial Deb... View the full answer
