Currently living in Australia, I couldn't agree more.
Buying a house in some parts of the world is totally crazy at the moment and like most things, the market will correct and give us a way better opportunity to become a homeowner.
For those interested, this article describes quite well the state of the housing market in Australia, and I'm sure many other cities in the world.
https://medium.com/@matt_11659/matt-barrie-australias-economy-is-a-house-of-cards-6877adb3fb2f