Remember that there was some folk who don't focus/care about the actual house price and instead look to see if the monthly cost is manageable. It's crazy I know because effectivity they'll bepaying into a mortgage that they can't afford to completely pay off but nobody is in the mindset to completely pay off the houses with their crazy final prices. All they care about is the monthly costs. Once they get bored of the house they take their existing mortgage and move on to another property. This is how messed up the housing market is. |