this is no different now !!!!!!!!!! sorry to be optimistic but frankly its true – the masses will be out with their cheque books in a year or two!!!!!!!!
You really dont get it.
Let me try to explain… Quite simply, banks are not and will not be lending in the way they were previously, not for 10 years at least. It might have slipped your attention, but the entire worlds banking system nearly collapsed because of the housing bubble and the irresponsible lending that pumped the bubble. New regulations are being drafted that will actually prevent banks from overleveraging their customers with debt. The result being, people cant borrow 10x salary, they cant release equity from their first home, they cant get 110% mortgages and they now cant afford 200k+ for 2 bedroom apartments (which exist in the hundreds of thousands) in Spain.
In this game of musical chairs, those without a chair when the music stopped turned out to be the winners, because property prices are going to fall dramatically, like it or not…