Was a reason provided for the potential loss of houses.If it...

Was a reason provided for the potential loss of houses.

If it relates to interest rates, and the RBA is already seeing a slow down, then depending on what the RBA thinks the housing situation will have on the economy, it will reduce interest rates to make affordability a little easier.

The problem is that the persons loosing their homes is not to do with the housing bubble or interests but the overcommitments that many of these individuals have had with credit cards and the interest free terms etc that major retailers offerred.

Most of these arrangements are through GE money. And many dont read the fine print. While interest free only as long as you pay before the period that the interest free term is for. pay the day after, the whole interst 'free' balance is charged interest from day one at some 20 plus %. so with a $20000 balance (to buy the all important plasma tv etc) with those 1000 days interest free, a person not making the payment on time will effectively owe another $15,000 or $35000 with a an interest rate of 2% a month interest is close to $700 a month.

So to blame housing is not always the reason, it is people who dont have the intellect or self control to restrict their consumer spending who cant afford to borrow that will end up loosing everything. At least they have the plasma to comfort them.