All those 3 points are irrelevant as long as the person can make the mortgage payment. Don't forget, mortgage rates are at record lows meaning it's never been cheaper for a 1st time owner to buy. The banks are literally screaming for people to take their money, for just as long as they have a paying job.
What mistake are you implying that the central banks have done? Oh you mean they should do nothing and let the ship sink?
Please show me data that we are heading for 'hyperinflation' - i'm sick of this claim with unfounded evidence. The QE during the 2008 GFC had resulted in no negligible rise in inflation whatsoever! The amount of deflation from COVID would of amounted to record levels never seen before if the central banks did nothing. Back in April we saw the oil price collapse - is that not deflation? It would be if the gov'ts and central banks did nothing; making it a permanent state.
One thing certain, if the asset prices of houses collapse, so will the banks fall ; meaning, central banks can not afford to let that happen. Likewise with the stock market.
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