Pockets of risk in the Belgian mortgage market: Evidence from the Household Finance and Consumption Survey (HFCS)

This paper complements macroeconomic indicators for macroprudential policy with information from microeconomic survey data from the Household Finance and Consumption Survey (HFCS), to identify pockets of risk in the Belgian mortgage market. It takes into account distributional aspects of debt and assets, with a special focus on the coverage of households' mortgage debt by (liquid) financial assets. It identifies the share of outstanding mortgage debt that is possibly at risk, and the parts of the population most affected, on the basis of income and assets-related debt indicators. The first fin... Mehr ...