For sure. The problem being the people who believed the hype and bought into the forever rising housing market and the forever rising markets may well be financially and personally damaged so much it will affect the rest of their lives. In Australia if you cant pay a housing loan then the banks will foreclose and you will still pay the remainder for as long as it takes. The banks do not forgive these loans as they do in the US. This is how it works. Then the next generation comes along and the banks and government do it all over again and the younger people will be conned into getting involved again and again and no one wants to listen to voices older who have been through the ringer most of these young people just blow of older peoples experience as being old and stupid.
