>> The government tightened the lending rules so regular first home buyers and owner-occupiers can't get such a big loan anymore. Agree, but don't single out f

>> The government tightened the lending rules so regular first home buyers and owner-occupiers can't get such a big loan anymore. Agree, but don't single out first time buyers. Easy money is what causes the prices to rise regardless of who is buying. In the US lower interest rates lead to tons of ads for refinancing, and some people refi AND take out some cash to spend. Home prices vary inversely to interest rates.