No real estate, equity debt … Debt growth rate in 2030, # 1 this year

Citizens seeking real estate in Seongbuk-gu, Seoul (Photo = Yonhap News)

[이데일리 김보겸 기자] This year, the number of new debtors in 2030 is increasing rapidly. The average loan amount also increased by almost 20% this year, showing the highest rate of increase among the age groups. Income is not increasing, but property prices are skyrocketing, and it appears to be the result of a ‘debt investment’ frenzy of buying a home using all possible means to buy a house by mobilizing all possible means and investing in debt stocks . .

According to the Bank of Korea’s Household Debt Database (DB) on the 26th, the proportion of new borrowers (borrowers) aged 30 and under as of the third quarter of this year was 58.4%. About six out of ten new debts this year are in their 20s and 30s. This proportion has been increasing each year from 49.5% in 2017.

On the other hand, the proportion of new borrowers in their 40s was 14.9% this year, down from 2017 (19.4%). Those of 50 (16.9% → 13.8%) and those of 60 (14.2% → 12.9%) also decreased.

The number of new borrowers represented 6.7% of total borrowers, lower than last year (7.1%), but the amount of debt of new borrowers was 3.7%, higher than last year (3.3%). This is because the average loan amount of new borrowers this year was 4.584 million won, an increase from last year (39.9 million won).

New borrower debt in 2030 also increased. New borrowers age 30 and younger this year accounted for 55.3% of the total, up from last year (52.4%). The rest of the age groups decreased at the same time.

The debt growth rate of new borrowers age 30 and under outpaced all other age groups. In the third quarter of this year, their average debt holding amount was 43.5 million won, which was lower than other age groups. But last year, the average debt of new borrowers aged 30 and under (36.32 million won) increased by almost 20%. This is higher than those in their 40s (53.93 million won, an increase of 16.9%), their 50s (46.77 million won, an increase of 14.4%) and those over 60 years old. (4.61 million won, an increase of 12.9%).

The BOK analyzed that the rate of increase in debt among young people in 2030 has increased considerably.