I havnt loged on for a few days, came back and saw this stupid thread..
seriously, $7K is less than 2%, and $14K is less than 4% of a house these days.
regardless, back to the original point, if house prices go up then the cost of the mortgage is beyond Net salary. why do prop bulls constantly ignore this MASSIVE brick wall.
you want to talk up any idea that it will make the housing market boom, but you constantly ignore the most important factor of them all is peoples salary restricts people in what they can afford.
This is noting more than a up ranting property thread, I would love to know how many of thes propertys "bulls" have housing on the market trying really hard to sell.
I cant wait to see this forum in 18 months especially if property is passing through 30% decline from its recent high. which means a $400K house is about $280K even then it would still need to fall a little bit more to come back to reality and fit in with the rest of the world.
