Generally, the European housing “market” isn’t quite as mental as the UK and the USA. So that’s one thing. Also I’m not sure if I’m still correct but credit references agencies (Experian, Equifax, Transunion etc) are mainly a US and UK thing. Isn’t Europe still more a case of “speak to the bank manager for a loan / credit card” kind of setup?
Discussion
You’re right
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.