Let’s say you’re a doctor/engineer/lawyer on a good wicket what would you have done in the last 10 years to invest your money? Bank interest? Lousy <1% rates for a long time Shares? Volatile to put all your life savings into it Housing? Decent returns, tax advantages, generally safe, rental income to help pay off the investment loan

Honestly I get the frustration but if you look at it through that lens the smartest option over the last 10/20/30 years was to invest in housing given all the conditions here. Maybe there’s a line that gets crossed when someone has 10+ properties but if they want to risk leveraging themselves and their debt into building a house of cards that’s a risk that they will bear themselves (maybe some of those house portfolios are starting to fall with rising interest rates)

It’s all well and good to hope people earning a good wage will be altruistic but at the end of the day we will live in a capitalist society and people will use the tools on offer to generate wealth for themselves and their family