Russell Howard nails it here. However, housing is just one part of a very unsettling picture that seems to be emerging.
Houses may be difficult to buy now, but the road ahead is looking bleak. There has been little incentive to save for so long that few of us have any money to fall back on; many of us are dependent on apps and “gig economy” work to pay the bills and what little housing there is is being rented back to us by people who have all of the money; are immune from the economic rollercoaster and are not worried about having a roof over their head.
The prospect of limited housing; compressed wages and mountains of debt make me fear for the future.