the question is when does inflation kick in and by how much will...

the question is when does inflation kick in and by how much will houses rise with an inflation rate of 5-7 %

interest rates at 8%+ because banks will pass the cost in full.

if prices go 10% higher then FHB will need a minimum of 50K to qualify for a loan without mortgage insurance + stamp duty costs. Say 70K

and if they have no deposit then they most likely won't qualify for a loan on a good interest rate

then taxes will rise

It's all to hard to predict, but the system will somehow engineer a way out of it to keep the bubble from popping