Quote:
Originally Posted by b0son
And with so much spending fuelled by housing equity, the government just cant risk it.
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Why not? A large portion of the population has been locked out of being able to buy a house at all. That seems to be ok though, right? Protect the 'haves' at the expense of the 'have-nots'? House prices are increasing faster than people can earn acquire the difference in deposit over the same time period.
Meanwhile the government keeps smoothing the waters whenever they start to get turbulent. And while you acknowledge that the "government can't risk it", those with at-risk mortgages keep rubbing non-home-owners' noses in it, saying that they just need to work harder, stop buying new phones and eating avocados for breakfast.
Mind you... if pigs fly and the property market does actually explode and send people bankrupt... I'd be willing to bet that those same people with mortgages, the ones doing the nose rubbing, will be the first to complain about how the government needs to protect them from financial ruin. That they deserve financial breaks and grants to help them in their time of need.