I the problem is, people need somewhere to live, and will make it work somehow.
The agent who came round to value our flat said it would most likely be first time buyers sharing it. So we’ve gone from it being a batchelor pad 20 years ago, to probably exaclty the same price per person now, only it’s 3x more expensive and 3x people living in it.
“house building” seems to be catching up here though, they’ve converted a lot of empty office blocks into flats which should help, allong with new builds.
The problem is, new housing in the UK is the smallest in Europe. I view that as a symptom of impending doom as we’ve reached a point where people can barely afford a home, so what thy can aford is getting smaller and smaller as that’s what developers can supply for the budget people have. But we must be pushing against a limit of what prople will actualy live in and at that point prices will have to stop rising.