That's probably true Massey ,they were cheap then ( in hindsight ),but no normal person thought they could afford them partly because of interest rates. You also have a very powerful changing dynamic in the major cities that didn't exist then .Most people work near the city now . The ex slum areas are where people want to live . The family home is becoming a bit of a relic . There is so much more attractiveness for young people in the inner ,trendy if you like ,areas . They're earning the money to afford it ,they're buying a lifestyle. The makeup of families is changing . Less kids means more money ,same sex couples means a lot more money and extra demand
It's far too simple to say it's less affordable now, because a lot of people can actually afford it.
The only thing that would slow it dramatically is if there is a major downturn and jobs become scarce . Even then ,it will get going again at some point .
I understand everything you're saying ,there's logic to it ,but I think you're seeing the trees and not the forest ,something that has prevented me making a lot of money in property over the years
