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I dont even think it is that, the houses have become over inflated by EA etc and then on top of that you've got daft people find an extra 50k and paying that over asking. They have put themselves in this potential negative equity situation.
Like everything its only worth what someone is willing to pay for it but too many people dont realise that even though they paid X doesnt mean its worth the X they paid.
And last off too many people have think "forever house" nonsense in there head now, nothing really is forever.
konastab01
The knives out undercurrent in this thread for anyone who had the temerity to buy their first property after ~2016 is a bit unpleasant at times. An 'overdue' correction to the housing market would be exceptionally difficult for a lot of people who did nothing wrong other than not being old/well off enough to buy a house ten years earlier.