How many times have you heard this conversation: "10 years ago we bought a place in ...(insert previously run-down now trendy area) for 200 grand, but now it's doubled in value. There is no way we could afford to live in this area if we hadn't been so fortunate."
You of course didn't buy in this area, weren't so fortunate, and now couldn't afford to buy there if you wanted to. This type of showing off is a bit annoying, but more importantly it is incredibly boring. There is of course a solution. With house prices now on a downward slide, wait until interest rates go up and home-owners are struggling to meet mortgage payments, at the point they are chucked out on to the street go over and tell them how you are fortunate that you rent your flat because there is no way you would be able to pay a mortgage.
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