> If you have to save 5-10 years for the deposit, you can't afford the house in a meaningful sense In the UK, people are already having to save for 8-10 years

> If you have to save 5-10 years for the deposit, you can't afford the house in a meaningful sense In the UK, people are already having to save for 8-10 years for their deposits. The difference is that for a £470k house, a couple on an average salary will have to save more each month (by aggressively cutting expenses). It may not be acceptable in some countries to wait for so long, and many people may find the lifestyle sacrifices not worth it. Even for those prepared to go through with it, > "It is literally possible for them to risk their finances with a huge loan on a mortgage they will struggle to pay if anything goes wrong" is not really the same thing. That is not what I said or even implied. The monthly mortgage repayments a 5-bedroom house will most likely be cheaper than rent on even a smaller house, so the couple should be able to still build up an emergency reserve. The hardest part is getting the deposit together, which takes sustained discipline over a long period of time living below their means while everyone else is living it up, and can still be disrupted by life events (job loss, family needs, etc.). Only some working-class people earn wages that are high enough to do this. But once they have the house, not having to pay rent anymore will actually increase their disposable income, not even considering possibility of renting out the house if they face financial difficulties.