Historically people were not loaded up with record high debts.
Historically we did not rely on china.
Prices have had its run, if it continues to run higher it is most likely pushed up by those who fear of missing out "FOMO". Those are the ones that get sucked in and think about getting in before they miss out but at what price? at sky rocket price with huge debts?
Personally I would rather miss out on this and sit in the safety of cash then enter at sky rocket prices which is not going to be sustainable.