Your children's friends, bragging about the house they bought, may not be bragging when they either loose there jobs or their jobs are threatened, interest rats increase (another handful of worms), property values around them shrink. Then inflation starts to spiral which changes the whole dynamics.
My advice to would be first time home owners is to get as much deposit together, buy, then burrow in for the long term.
Gone are the days of buy and sell.
Things around us are changing little by little and only if you know what you're looking for will you see. Things can now change very quickly.
It looks to me that we're on the cusp of a horror stretch. You can't deleverage fast enough.
