Fair point. There is still a crazy amount of demand though. Look at the huge amount of houses being rented as HMOs now.
I posted it some time back, but we really need to get aggressive with exponential taxation on additional homes. Outright banning foreign investment in residential property would be a start as many other countries do.
Must say I really wouldn't want to be at square one right now, I've worked my nuts off to the point of exhaustion and have a few months left on my mortgage now. It's meant years of no new car, very few treats in the way of new gadgets, no proper holidays etc etc. It's been pretty miserable but I'll be glad to be mortgage-free.