France, social portrait2013 Edition
France, Social Portrait is for everyone who would like to learn more about French society.
The length of loans is increasing among the young
Between 2005 and 2011, household debt increased greatly, mainly due to the increase in housing loans. The proportion of indebted households remained stable: one household out of two had a consumer or housing loan, representing around 14 million households in 2011. Linked to the rise in property prices, the average amount outstanding on housing loans grew by 58% between 2005 and 2011. However, the weight of monthly repayments for households remained stable over this period. The increase has therefore been financed by a lengthening of the life of the loan, especially among first-time buyers. Consumer debt allows less well-off households to offset low incomes and improve living conditions; however, households with only consumer debt hold back in their consumption expenditure more than the others. In 2011, 40% of them stated that they could not take a week's holiday over the previous twelve months, compared to 28% among other households.