> there are a huge number of people who have thrown absolutely everything into owning a home I don't know what the situation is like in the UK, but here in Aus

> there are a huge number of people who have thrown absolutely everything into owning a home I don't know what the situation is like in the UK, but here in Austria banks are really really eager to give people as much money as they'll take. Getting a mortage that runs 30 years? Sure thing! Why not make it 35 years? 60% of your paycheck goes into mortage? Why not? You have less than 10% of the required amount in cash? Who cares! The people who are buying homes right now are getting into massive debt, with variable interest rates. If interest rates rise, a lot of home owners won't be able to pay their mortages anymore, and they won't be able to sell because the only reason people can afford these crazy mortages is because the interest rates are so low. It looks like a bubble to me, and the only thing that's redeeming to me is that everyone has an interest in keeping the bubble going.