This epitomises the lunacy of not facing up to reality. I out of 8 are over a million. Get it/ those homes are out there/ have been bought/occupied/ it has happened and there are buyers paying it otherwise it would not happen.
Forget PEs or affordability , its going up because it is sustainable, continues to be and as it rises will remain sustainable for those who are able to afford it. Were it not the case they would not keep going up.
Your placing PEs on real estate is a wrong assumption. Demand drives real estate as it keeps rising.
Sustainability is huge. Many of us have multiple props, fully paid, incomes to match and easily affordable.
You see , a basic principle of common sense is we can afford therefore it is sustainable. If it is sustainable for 1 out of 8 of us and we are debt free and have the income it remains sustainable. For the rest of the 8 its another story.
