Yep it has to crash, or wages need to rise substantially to bring things back into reality.
My bet is on the former.
If the average wage cannot buy the average house then either wages are too low or house prices are too high.
Bye Bye all those people who have overcommitted, and those that bought on 3% down.
In 2 years time there will be a swag of properties at reasonable prices.
Keep your powder dry until then
next to crash will be housing, page-2
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