Owning your own home

I currently feel like I may never be able to buy a place of my own, even if I leave London (which I plan to do as soon as personal and professional circumstances allow). It's depressing.

I am leaving London before long too, it is insanity - paying £15k a year into someone else's 'investment' or taking out a huge mortgage. I think we could buy a place a bit further out, but lost interest a while ago.

I am just an average Joe with a basic understanding of economics, but I can't see how anyone else thinks it is sustainable - I think there is a chance of a couple of things happening:

• buy-to-let people crying when the interest rates go up and they can't make any money or get their money back. Good.
  
• people panic buying now at silly prices being screwed when they can't get their money back in a few years, because there is no-one left who can afford to prop up the pyramid
  
  

I think the government is using housing to make the economy look good, and once the election is over, interest rates will be up and things will start going backwards again. Tell me if you think I am wrong though!