it could be, but we are at the peak of the business cycle at the moment and it has started to flatten off.. the last trough was in 1993-95 when property prices plummeted after the 1989 boom - my house was almost 5x less than it is worth now back then
house prices are probably 30-40% over-valued - it makes me laugh when you see these 1st time buyer houses advertised "from only £185,000" and they're usually ****e things with wooden frames and paper thin walls.
to buy that you'd need a salary of about 60k-70k to be reasonably comfortable - how many FTBs get paid that much when the average salary is 14 grand? they are just encouraging people to get into ridiculous debts, taking out 40 year 100% mortgages so they can earn ridiculous amounts of interest and hopefully snatch the house back when they default.
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