Information released today from the Office of National Statistics has revealed that the property debt crisis in Great Britain is worsening, as is the financial debt situation in general. Using evidence from the Wealth and Assets survey, the self-reported burden of property debt was investigated, highlighting the financial crisis Brits currently face. Property debt is recorded as the total outstanding value of the mortgage on a household’s main residence and additional properties. Total household property debt was estimated to have increased from 980 billion in 2008-2010 to a hefty 1 trillion in 2010-2012. Financial debt sat at around 104 billion […]