Entirely predictable. You have people paying mortgage payments using their credit cards, people lending money with no proof of income or collatoral, people borrowing money to get the deposit on an investment property and then borrowing the rest of the money and then using their nonexistant collatoral on that house to buy more and more properties, it produces a bubble effect. That major investment houses have been sucked into it is astounding. Sound economic management and appropriate regulations would have stopped all this from getting out of hand.
Entirely predictable. You have people paying mortgage payments using their credit cards, people lending money with no proof of income or collatoral, people borrowing money to get the deposit on an investment property and then borrowing the rest of the money and then using their nonexistant collatoral on that house to buy more and more properties, it produces a bubble effect. That major investment houses have been sucked into it is astounding. Sound economic management and appropriate regulations would have stopped all this from getting out of hand.