When you consider that housing was already overpriced and the "not sufficiently employed rate" will be horrendous probably in the 30% + bracket it is not a bright picture for the investors who are over geared as the banks will have to foreclose
There will be pressure on the banks to go soft on owner occupiers but that will not cover those who have simply borrowed too much and paid too high a price
Good for some but disaster for others unfortunatly
