The government put pressure on the banking industry to scrap Interest only mortgages. And home owners only, let property investors continue wih the punt but make actual home owners accountable to there debt and force them to make inroads into it. It will sort out the men from the boys and force those on the fringe of affordability to make a clearer decision about whether or not they can really afford to be entering the housing market. It will reduce personal debt, slow the speculation and steady this housing price boom.
Just a lazy sunday thought.
I can only see long term benefits for all concerned.
