IMO, If the home buyers were to think more about the three bedroom, one bathroom dwelling UNTIL they can afford something bigger, more people would be housed by now.
Trying to compete with next door with more bedrpooms, more bathrooms, more vehicles for weekend getaways etc has these people chasing their tails.
Credit cards to pay for other credit cards, living beyond their means, and Yes, I blame the Banks for throwing credit cards and Housing loans at people that cannot afford them.
Stay at home, save your dollars and only buy when you can afford it.
And YES, THIS IS FINANCIAL ADVICE
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