I've been playing the guitar for about 6-7 months now.
i practice usually between 1-1 1/2 hours a day (sometimes i can't though cause i got hw). i practice my scales buy playing up and down them, playing with hammer-ons and pull-offs, and note/string skipping type exersizes usually the whole practice time, along with some chord changes.
im just wondering, if i continue like this, will it sort of magically fall into place in about a year or a year in a half? i really love practicing and i also just really want to play what i want easily and quickly.
it will take a while until you develop muscle memory. There is no time limit on being able to play fast, some people can do that quicker than others, some take longer for their technique to build up. Keep practicing, the speed will come eventually.
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This is terrible advice. Even worse than the useless dry, sarcastic comment I made.

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I'm too old for the Jim Morrison look now. When I was gigging I had a fine arse.
You learn to play quick after the 13th full moon rises after you start playing, you must draw a circle and place your guitar in the middle of it with candles lit around you chanting.

If you fail to do so on that night, you are destined to play to the crickets..
"[Bleach] is mostly water, and we are mostly water, therefore we are bleach"

I feel we should go to...

Purple Alert
Q: how long will it take before I can play fast?

A: anywhere between two days from now and four life times from now based on your ability to learn the way you practice and the amount of effort you put into it.

so its great to see you put X amount of time into practicing, but how do you practice?

what is the fastest song you can play? how long did it take you to learn that?
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Some pieces are only meant to be played by people with six fingers on their fretting hand. Sorry.
It depends entirely on how much your are willing to pay me.
I read Emerson on the can. A foolish consistency is the hobgoblin of little minds...true...but a consistent reading of Emerson has its uses nevertheless.
I know its not what you want to hear but I agree there's no way to say how long its going to take until you can play as fast as you want.

I do think that you will progress quickly if you keep up the practice schedule you have now. As long as your practice is focused and you're always thinking about improving (rather than mindlessly drilling through the exercises) you'll get better quicker than most. Keep it up!