Yeah, I really don't understand anyone who's neither over 50 (and considering downsizing after the kids have left home) nor an owner of multiple houses considering rising house prices to be a good thing.
Even if you do already own a place (or have a mortgage on one), it just makes the next move more expensive. Yet the papers over here regularly crow about increasing property values like it's a good thing.
Still, I suspect we haven't yet reached London levels, where the median house price is more than six times the median household income. (try comparing that to the 3x multiplier most banks would rightly balk at).
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Date: 2007-01-08 01:35 am (UTC)Even if you do already own a place (or have a mortgage on one), it just makes the next move more expensive. Yet the papers over here regularly crow about increasing property values like it's a good thing.
Still, I suspect we haven't yet reached London levels, where the median house price is more than six times the median household income. (try comparing that to the 3x multiplier most banks would rightly balk at).