are we being cheated?

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when we here on the news that inflation is at an all time low of say 3% but house prices are rocketing from between 15% and 50% do you think that we are being cheated? cos my dad used to be an estate agent.. in the days i was a kid.. i remember you could buy a house with 3 and a half times your earnings and you could do it..now with 2 people working and getting a mortgage 5 and a half times your wages is too difficult..i am talking especially about the real estate prices in major cities? how do you think this measures up? cos i don't.. i think there is so much foreclosure going on now..but that doesn't reflect the housing market either..