A few people in the thread regarding how old people were when they bought their first house has a few confessions regarding dodgy financial practices by some a few years back in order for them to be able to buy. They have been extremely lucky so far by the looks of it, but look at the huge amount of financial shenanigans by the Government that have supported the housing market, directly, indirectly or coincidently so far:
Help to buy
Funding for lending
Bank bailouts
Special liquidity scheme
Quantitative easing
Rate cut from 5.75% to 0.5%, nearly 1/12th of what they were - a huge drop
Probably a lot more than I've put here
A lot of areas have only just about recovered in price from the 2008-9 crash, save a few places like London and the S.E. What can be realistically done from here on by the Government, without it having even more dire consequences for the "real" economy outside of buying and selling houses to one another?
I'm rather scared to be honest, I read the other day that 80% of net mortgage lending was Buy to let borrowing. Given the massive tax changes coming over the next few years, this sector looks like it will pretty much collapse.
Maybe finally the UK will have its real property crash?