If wages were keeping up with the housing inflation, or there was some massive influx of foreign cash snapping up properties, yeah I would agree with you.
But when a bum can get a 500k loan? Well, there’s your problem!
I’m actually scared at this point. This is not only the biggest asset bubble in world history, it’s far and away the largest fraud as well. Over a trillion dollars of shaky loans have been repacked and are floating around the global market.
So, investors around the world aren’t playing anymore. For better or worse, the lipstick is off the pig!
