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Do Europeans not go into debt (tens to perhaps hundreds of thousands of €s) to purchase a home, for example?


Can't speak for Europe overall, but in Germany it's highly uncommon to buy a home until you've either finished studying and have a proper job, or in the case of vocational training, having worked a few years. We seem to be pretty averse to debt in general, so for most people "buying a home" is the only acceptable thing to take on a large debt, and even you're probably already 30-40. Of course this is a little different if you live where housing is really cheap, but good luck getting an apartment or a house for under 500k-1m € in a big city.


Perhaps less so for education, medical care, a car, etc.




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