Hi there, Interesting thread. I am one of those that bid on a property and offered in the end a lot above asking price. I know there are other places and I could have bought a bigger house elsewhere or the same type of property for much less, but I simply did not want it. I am in love with ED, I am happy here and this is just a choice. Nobody is taking advantage, it is just market driven, I have decided to go for it , knowing the market might go down, the mortgage up etc. But if I am taking on board all these risks, is simply because the value of living here is to me higher than the latter. Of course not all of us give the same importance to where we live but if, like me, you think location has a big impact on a (happy) life, then - assuming you can afford it - all makes sense.