I think the problem with forced emigration/negative equity/foreclosures/slashed disposable income is more due to the banks' ability to create debt ex-nihilo within the central bank system (very convenient for the banks as they get access to the asset, get interest paid prior to principle, and get bailed out by the state). The same is true re the cost of living in the UK - it is more a monetary issue (issuance of ex-nihilo debt within the property market) than purely a currency issue.

In my opinion.

Good comment about children and families above - the childless have no fucking idea what it is like.