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Podcast: The Mike Hosking Breakfast
Episode: Mike's Minute: We need to understand debt better
Description: There is a growing idea in economic circles in America that young people might never own anything. It's based on the recent news that a new car average price cracked $50,000 for the first time. It was added to by Trump's idea that we have 50-year mortgages. In the US, 30 years is pretty standard, and they have the fixed interest rate that lasts decades. Here it's completely different. But all of it is based on the thinking that more and more people can't afford stuff and, if they can, they will...