Borrowing money has decreased sharply in America. When Americans notice that the unemployment rate rises, they borrow less and save more, because job security is an important factor when talking about financial security in the future. Another reason for this apparent decline is that many households have to restore their financial situation after the crisis. A final reason for the drop in credit is that banks react slowly to the fact that many debts won’t be paid back.
Marieke Verbeke
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