I posted this on another thread, but it shouldn’t be a comment. This was a BBC program from 2003 that showed the rampant fraud occurring in the UK housing market. Liar loans - or self cert mortgages.
Basically - people lied about earning more than they earn and in a feedback loop - because prices are set by the highest bidder at the margin, prices skyrocketed.
When the financial crises happened, no one went to jail, and as we know since then - all sorts of props have been introduced this to keep prices high and inflate them further.
But this in a nutshell is why you all have been screwed. Watch it, please. And then campaign for the removal of all props (help to buy, ridiculous earning multiples etc etc) that are screwing you further.
Pt 1:
Pt 2:
Pt 3: