Update: we haven't bought a house. I guess we will if we find one we really like. But I'm not in any hurry.
It seems to me that house prices are likely to carry on falling overall and I'm not sure I want to buy somewhere that will lose value. It seems like house prices have fallen around 25% from peak prices, but it seems as thought the debt-to-income ratio is still much higher than in previous decades and so has a way to go before we're back on track. And really it might be a while before we begin to get our way out of the sludge that is the credit crunch.
Anyhow, for now, we continue to live in our shared house with fellow housemates. Which is okay I guess.
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