you hit the nail mate what can I add... the 70s was such an inflation catch up that interest rates could not put a lid on it
the 80s saw the banks cashing in on the asset boom, lending a poor soul twice what he asked, in the certain knowledge that prices could only increase to cover them
the late 90s was the period which followed a stagnation of price which had lasted 5-6 years in places and saw the introduction of the unscrupulous lending to which you refer
that particular boom has now halted, so now it is time for the unscrupulous lender to cash in on interest rates 2-4% higher than when the loan was issued it is a careful and artful science which will guide us through this period as the billions are raked in from the previously romantic and unsuspecting
interest rates will be consistently adjusted up and down with one thing in mind...to maximise the scam
banks have gotten very good legal advice and their contracts are a viscious insult to the collective intelligence which tolerates variable interest contracts at all
