I used to post there too Poppet45. I still read the news links every day. The economics discussions can be interesting sometimes with useful links to interetsing places.
It gives me no joy to agree with you on your analysis of the market which is why I have not said anything on this thread.
Truth is that people are finding it difficult to sell houses because people lower down the chain and especially first time buyers are finding it very tough to get a mortgage big enough to come close to meeting 2007 peak prices.
Banks are not lending anything like the salary ultiples they once did, they are demanding more deposit and they are demanding more conservative valuations on properties they lend against. On top of that there are few jobs available and more job losess coming.
It all adds up to lower prices. No matter how many people want to buy a hosue there simply is no longer as much money (earned or borrowed) to do it with.