"I know you are saying that this time properties are way too expensive but that is exactly what was said every other time."
average properties 6-8 times the average salary/wage
Historical rate is around 3 times
The only "other time" this ratio has blown out is towards the end of property booms, when it has taken, as the case of the 1990s around 10years of price stagnation to return to the normal ration
And
average property prices are currently sitting 30% ABOVE the inflation adjust 80 year growth trend line
Over priced on the basis of historical growth
Over priced on the basis of historical affordabilty
A boom in prices already experienced that has been brought to an end by the drying up of easy money, and previous poor lending practices.
As for interest rates dropping
LOL
real inflation out of control
higher wage demands already being made as people are struggling to meet living costs, wage demands that are further fueling inflation
and you think with all this people are also going to be able to pay more than they are already paying for over inflated property without causing further wage demands, further inflation increase, and increasing NOT falling interest rates
