Clarify
A multiple of 7 to 9 of whose income?
Yours mine or Jamie Packers?
The real estate market in each country is different.
You can't compare the Australian market with that in Thailand or Japan.
Different legislation different cutural mindset,different economic circumstances
The Spanish prefer to rent and spend their money on lifestyle.
Australians want their 1/4 acre block.
Whose wrong...whose right?
In the UK you dont buy a property you buy a lease on property in many cases.
Some properties are freehold some are leasehold.
The price reflects this