I think, as a result, European citizens have much lower rates of individual debt. I’m also basing this on a friend who moved to the Netherlands. Bought a house for €400k, 10 years later it was worth $410k and he upgraded the kitchen for €10k. Basically no movement in a decade. Houses in the UK pretty much doubled in price during the same period. UK average salaries have barely changed in that period too. It’s getting all rather silly.