Todays youth have lived without the economy resetting itself, its safe to say a lot of us have lived through these times of boom and bust.
What kept the UK economy gong was the ever increasing rises in house prices. One of the Tories greatest fears are that the house prices will fall through the floor.
This is very close to happening, a downwards blip in the economy, people lose their jobs and their houses go into negative equity, and they cannot afford the mortgage repayments. There is a whole generation who have had low mortgage repayments, and a huge amount of debt backed by their house value.
The looming disaster will only benefit the people with a few million in their accounts, not the people struggling to keep their heads above water – even with 3 jobs. The house values will plummet and not recover for a few decades…so many semi detached houses especially in London worth a million? Nope..that is unsustainable.