I think this is the 80's all over again. I recall the mentality 'you have got to get yourself into debt to get ahead.' Plus, there was this equity mate recently in your own home for materialistic things when you already had an unpaid high mortgage.
There is going to be mortgagee selling of holiday homes for starters that may lose 50% of their price in some areas. Of course many more equity mate battlers will be losing their homes and some professionals. The other thing is the divorce rate and the implication that has on finances.
House prices will 'increase' by 40% - not a typographical error?
