I am in the rather unenviable position of being a 'first-time home buyer', and for those of you who haven't been one for some time, let me tell you that now is not a good time to be looking for one's first house. A year or so ago, I was rubbing my hands with glee at the prospect of falling property prices meaning that I could finally purchase a decent sized place and begin having a family.
However that price drop never materialised - what transpired was that nobody wanted to sell their houses, which meant a smaller and smaller pool of properties to choose from, keeping prices up through scarcity and leaving only overpriced tat. It's shocking what absolute dross is out there for comical prices. The thing is, I could definately afford to move into a house tomorrow - I just don't want to move into a tiny council estate shoebox with no garden. There's currently no way that we could afford to move into a house anywhere near as luxurious as the one we're renting. And let's not forget that I am already in the lucky situation of having a pretty decent salary compared to many my age - I dread to think what it's like for teachers and others like them.
I wonder how long this constipated market is going to continue for? Will there ever be a proper correction or is it just going to keep on going up and up?