[munksbeer]

>The share of income spent on housing has also remained remarkably stable. Though prices have ballooned, interest drops considerably, so monthly payments as share of income haven't changed that much.

That is not a good thing for new buyers. It is fantastic for people who bought when prices were cheap and rates higher, because now they have a low mortgage and low rates (refinance). But new buyers must now find higher deposits and have no real hope of every paying their property off early because any over-payments make only small dents in the high prices.