This is a standard template here, and numerous people from all parts of the society are doing it to get out of 8-5 jobs. That's the main reason, US property market is this high even after 2 years of pandemic.
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I think the prices have been somewhat held back here in houses, but the apartments are booming - I have read a lot from Australia on this however and it is getting insane there - it has to come down at some point.