Re: They toooock ewre joohbs!!!
How would low wages increase house prices? There is a housing shortage, demand exceeds supply, people are paying as much as they can to get into a tight market - increase the amount of money they have and the price will instantly jump to compensate.
Increase wages by 10x and wake up in the morning to find house prices up by 20x in anticipation.
Combined with stupidly low interest rates and a belief you can't lose in property (based on seeing current bubble) people are driving house prices to insane levels by borrowing as much as the bank will let them. Here in Australia 80s interest rates were in the teens (of percent)... that would fix prices pretty quickly (but home owners don't want to lower prices... and they vote).
Biting the hand that feeds IT
