The Monitor's View Are mortgage buyers smarter after housing collapse?

A global survey of 15-year-olds show the US still has far to go to prepare the next generation to grasp complex financial products such as mortgages. To prevent another crisis like the one in 2008, young Americans need financial literacy.



A global survey of 15-year-olds released Wednesday should serve as an eye-opener on how much young Americans have learned – or not learned – from the 2008-09 financial crisis about how to handle money matters such as buying a mortgage.