I'm pretty much in the same boat as you, I'm hoping the prices do drop, as Denver says. I am an 2nd yr apprentice earning shit money, and buying a house won't be a reality till I'm fully qualified (or hopefully earlier). Knowing that I can't do anything right now really sucks, watching the prices rise every day... if prices stay as they are now, my g/f and I should be ok when we go to buy, if they drop (and interest rates don't rise) then we will be even better, BUT if they rise, at the rate they are, then we can't save for a deposit as quick as the prices are going up, + repayments would be more. And then there's the fact your paying 300+ for a POS, wouldn't really feel all that satisfying...
So I hope Denver's senario works out, prices drop, not the _8OO5TED_/caminperth senario, I havn't really got a clue what will happen, I just have a feeling they will just keep on rising forever though...(hopefully at least slows down soon)
did any of that make sense?