Looking at the debt-to-savings ratio in this country, as well as the retirement savings stats I posted earlier in this thread, it’s clear that most people are not leaning toward making frugal choices in life.

These stats seem to infer that many prefer living beyond their means, and they may be able to float their preferred lifestyle during their working years, but they may find their overspending strategy does not work out well later in life.

That’s why I have to agree that low interest rates, lack of building, and high employment rates are still the most decisive factors fueling the continuing housing boom, vs. other reasons for the rise in prices.

It will be interesting to see what happens if/when any of these elements noticeably fluctuate.