Originally posted by FUNKED1
Doesn't Japan have negative interest rates? In that case you could consider debts to be as investments. 
LOL if only.................
Actually its the disposable income side of the calculation that tips it IMO.
In the UK we calculate it after such things as Mortgages are deducted........so our massive mortgages have a sort of "double whammy" on the calculation particularly when you look at typical house prices across the nations.
I am surprised that France and Germany average out almost equal to the US. The US is usually considered to have much higher disposable income than any european nation. Although disposable in come is usually expressed as a % of earnings which would not be the case for this calculation.
House mortgages have an overbearing influence on these figures............. in the UK a 3 bedroomed "condo" with garage parking (we call it a semi detached) is about $200,000 depending upon the locality. This will have been typically purchased by some one who has been granted a mortgage = to 3.5(max) x their (3 x combined for a couple) salary over a period of 25 years.
If you work that out then you will see that on an average UK salary of $25 > $30K per annum then a couple earning a combined $55K per year will take home approx $42K leaving $3.5K per month for all utilities and local taxes plus a mortgage with monthly payments of + $1.5K for the mortgage alone. Leaving a disposbale joint income of around $500 to $750 per month at best after utilities,local taxes,essential transport, basic food and clothing is deducted.
Compare this to main land europe and you will see that the house plays a much lesser role in attriting disposable income.
Where in fact taxes are (generally) higher but house loan burden is lower and often granted by the government.
