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partially, but the people have to live somewhere, if not buying they need to rent and there's not enough rental stock either as seen by the high rents. same problem, same root cause.

i cant recall the exact number, but its between 8-9% of the country is "developed". and that included anything and anything non-argricultral: roads, airports, old industrial sites, parks!, in additional the obvious houses. it follows that if we increased the size of every town and city by ~10%...

stop being a knob about it. your premise has been completely shot down by two separate sets of data, and then there's Uncle S' comment about mortgage take up. of course low interest rates are a factor in fueling price increase, just as Russian buying in Kensington or Chinese buying flats off...