you can compare UK to Australia because it is a country, with people, who work for a living. and buy house's and cars like we do, who also borrow money, at interest.
in the UK, they have lower itnerest rates, and more people squished into the same land area, yes i was in the UK in May this year and was staying with a work mate in chertsey.
the simple fact is warnie, for 100 years in all countrys including ours housing has always just been a few times more expensive than anual wages.. its just the past 10 years where it has blown out from the norm and doubled in value against what it has been for as long back as you can really look..
there is no reason for it? so why like all other trends is it not going to cycle back down?
like I said warnie, if you think housing will go up and become 1:8 or 1:10 ratio, as that is your assumtion housing will always increase in value, how will people be able to buy a house when a) the mortgage will cost more than their salary, and B) there is no reason for it to be that high.
there is more chance that housing will return back to its norms from the past 100 years, then it will hold its current over inflated value, or climb... if you disagree then explain how?
