imagine the carnage when rates go up, page-104

Well I can imagine the carnage for renters. Remember the residential building industry is sewn up with a few developers drip feeding new estates. The supply will not increase due to rising rates. Rates are coming down because there is too much saving. This includes investors reducing leverage. History shows that rate rises don't cause carnage in the property market they may cause a short blip and flush out the way over extended which is in fact a good thing and then on we go, up again.