No

No it's not fair. Many of the people with houses now were lucky enough to buy earlier on when prices were low anyway. It's just bad luck. They will pick up again. The cycle shifts so other people can have a chance to cash in and get in the market also instead of it being eternally high.

It's absurd. I get people have lost their jobs and aren't working BUT.....

Surely people should have been smarter and put money aside to have an emergency fund to cover situations like this. It's recommended by almost every financial advice expert to have a good emergency fund of 3 to 6 months of expenses. (Including a buffer in mortgage/rent payments)

People should live and make financial decisions that are within their means and really shouldn't become all doom and gloom the moment it goes slightly pear shaped.

For far too long people have lived off debt and credit and always borrowed the maximum they can without even thinking about what could go wrong.

People also need to make sure they also have adequate insurances too like Home and Contents. Income Protection, Life and TPD insurances. Trauma insurance always has value too.

People have a desire to keep up with the Joneses and have the lifestyle they WANT and not so much what they can afford. It's all about appearances and social media likes.

This whole COVID pandemic has shown how much people don't care about their finances and live on the edge week to week and in a lot of cases it's those own fault they find themselves struggling.

It's people mismanagement of their own finances that have got them into strife and this includes people buying houses they can't afford.

I say let the market crash and see what happens maybe it's the jolt people need to actually take full responsibility for their poor decisions over the last decade or more.

House prices are ridiculous but it's because people are deciding to pay massive prices for them.

I'm sure I'll get hammered for this comment but the reality is the truth is hard and often a bitter pill to swallow.