new buyers left behind in mortgage rush, page-18

Thanks Scotty ,

You have raised a good point .

Yes , you can rent a better property than you can afford to buy , no argument there .

But here's the thing . Because people want everything now rather than wait , they are helping to create the problem .

Rather than sacrifice a bit in order to save up a decent deposit , buy a house and pay it off , they would rather spend their money and live it up .

" I don't want to be a millionaire , I just want to live like one ".

It seems to me that people want to live beyond their means . Renting a house that you can't afford to buy is a classic example .

Now that's what I call an unsustainable situation .