Why would you want to buy a cheap house for? if all house prices double all the time with no chance of a market correction ever, why would you not just buy the biggest most expensive house the bank will let you so you can make the most amount of money.
Then when the house starts going up and the rents, the mortgage will be easy to pay as it pays itself out, then with all the equity you then get, you can buy even more house's.. and get richer faster.
Its like, if somone is selling you a place in a pyramid scheme, if you only buy 1 ticket you only make 8x your money, but if you buy 2 tickets you will make 16x !
