The story of The UK and America's mortgage crisis ended like this: The rich got richer and the poor will rent from them! College and university graduates are leaving with huge debts and bleak job prospects. Graduates in the U.S owe more than $1.2 trillion. The last thing many young people need is a mortgage on top of their outstanding student debt.
What economists call "household formation" has nose-dived. Young people, whether single or married can not afford to buy a property either side of the Atlantic!
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