But if it's a global problem... where are all these rich people coming from? Even if the richest 10% of the global population were going around buying three houses a piece, that would still leave 70% of the housing market left over for us plebs.
Its not rich people its middle class people with 500k mortgages that no one would take if rates were 5%. US rates have come back up, Europe is slowly started too but full impact isn't yet felt.
