When a nursing sister with 20 years experience can only afford to buy on the Manor you have to wonder if things have got an itsy bit out of control.
Yes I know money is cheap etc etc and all the other arguements but as soon as the herd mentality to "get on the ladder" settles there has to be a sense of the Emporers New clothes.
If not then how much does a "starter home" (a term I hate) have to reach before it is completely unaffordable?
Not much I reckon, people I know who are buying them are mortgaging scary multiples, interest only at that, and taking on loans from parents.
And all cos every fat badly dressed woman and her posh well dressed chum on the telly are telling them to.
And if the first rung of the ladder becomes totally unaffordable then everything else falls down around it.
I dont think we are heading for a crash.
Well actually I did 2 years ago but it never happened.
A period of stagnation, as is going on in London for the last 2 years, is probably whats going to happen here.
But of course that doesnt legislate for greedy people selling and the fantastic moral values of the local agents