I truly wonder how the Millenial generation might disrupt this idiocy and would welcome suggestions here. So far I have thought of the possible solutions:
1. A boycott on new purchases, which would tank the market as, being a pyramid scheme (or something akin to this) it depends on new money flowing in at the base. But I see no way for a boycott to be organized - and would not want to destroy the asset wealth of those caught in ownership who would see their primary asset tank in value. 2. There is beautiful and cheap housing stock in many parts of Britain that have fallen into decline. In particular south coast towns are an example. I wonder if these areas could (a) be rejuvenated, and (b) millenials could escape housing debt traps, if they had some sort of way of signaling to each other that many like-minded people would move there. Maybe high property prices in the SE benefit from a network effect (I live in London because people like me live in London) - but new networks could be established if people signaled their commitment to new networks.
I would be very interested to hear other ideas.