housing to devalue 40 to 60 percent, page-104

zen_machine
"unscrupulous lending"

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

whew

cheers