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I never understand this. Young people can be better off...if they are willing to get loans at exorbitant interest rates? Isn't that even more difficult for the average person?
If wages are going to remain mostly static, on a long enough timeline nobody can buy a property regardless of the interest cost of the loan.
House prices dropping 25% benefits everyone medium to long term, and 6%+ interest rates won't last forever (I hope).
Howard
I never understand this. Young people can be better off...if they are willing to get loans at exorbitant interest rates? Isn't that even more difficult for the average person? I imagine it's much more common today for someone to be paying an affordable mortgage on an overpriced house than an overpriced mortgage on a decently priced house.