Well said Justis. This hang up with wages/mortgage ratios is exactly that - a Keen hang up which many can not get past. The reality is that more are chasing fewer better located homes/land.
Additionally I challenge the critics to go and build a house and see the added costs and requirements that keep piling up. Until this bureaucratic buildup stops the prices will keep climbing. Councils and all levels of govt are making it a nightmare with regulations/costs as are the utilities.
The world , real world is very different to the economic treatise spewed out here. If it factored in what is happening out there it may be of relevance but what we get here is theory out of touch with practice.
