iOS app Android app
Clicking Follow Back will add user to your friends list and may allow access to your Social News timeline..

HuffPost Social News

Badges:
Your Badges and the Badge Module will be removed from your profile

nucool24's Comments

View Comments:   Sort:
10 Things Americans Can Learn From Amsterdammers

10 Things Americans Can Learn From Amsterdammers

Commented Oct 6, 2012 at 13:33:12 in Travel

“Luke, unfortunately "mortgage choices" and "consumption choices" are intrinsically linked in general and in the Netherlands in particular. Because, at least until very recently, all mortgage debt was fully tax deductable in Holland, nobody in their right mind would run up a large amount of credit-card debt: mortgage debt was much cheaper, with often negative real interest rates. Not surprisingly, many Dutch households took out second and third "top up" mortgages to liquidate part of their housing wealth and use the cash for consumption purposes (boats, cars, holidays). Contrary to what the author of the article would like us to believe, the Dutch are no different from Americans or other people in their approach to consumption and debt: they just respond to financial incentives like everybody else. As a result of the tax deductability, mortgage debt grew extremely fast over the 1995-2007 period, fuelling a consumption boom, and boosting GDP growth, but also leaving the Dutch with the highest private debt to GDP ratio in the world.”

lukebrambles on Oct 6, 2012 at 15:22:35

“I freely admit I knew none of this, thanks for fixing that :)”
10 Things Americans Can Learn From Amsterdammers

10 Things Americans Can Learn From Amsterdammers

Commented Oct 5, 2012 at 03:20:44 in Travel

“Unfortunately the first point is completely besides the truth, the Dutch are one of the most indebted people in the world:

http://online.wsj.com/article/SB10001424052970203752604576640662346325544.html

lukebrambles on Oct 6, 2012 at 11:44:54

“That would be down to mortgage choices, The point the author was trying to make is about differing consumption levels, which you may have missed.”