British Property Market

Having spent the last 5 years watch in the UK property market in wonder - hoping to get on the property ladder, and the last 6 months helping my mother buy a property after she received an offer on her house that was too good to refuse, I think it is time for first time buyers to go on strike. If we all collectively point blank refuse to buy any property in the next 12 months, then combined with the rising interest rates, some common sense might return to the market. If only the government hadn't chickened out on HIPs, it might not have taken 12 months. My impression is that everyone telling us that house prices are rising have a vested interest in that being true. It is the mortgage companies - who can't loose these days, the estate agents - who like the high prices because they get even high fees for hardly doing a thing, and existing property owners who are building up massive unsustainable debt based on a property price bubble. Come on - average property prices six times average earnings, when the historical average is four time is not sustainable.