Housing burdens

A BIG variation exists in the burden of mortgage debt across Europe, according to a report by Morgan Stanley. Switzerland has the biggest mortgage book relative to its GDP. Britain and Denmark, where house prices have risen rapidly in the past decade, have seen their stock of home loans rise sharply.

Economist.com - Sep 20th 2007

Indeed, mortgage debt is higher in these countries than in America. Ireland’s burden is lower but has doubled since 2002. Debt ratios in France and Germany are around half the level of Britain, reflecting lower rates of home ownership - full article