The banks are protected from this crap, we will just end up bankrupt with our house and belongings sold then have debt we have to pay off at the end of the day to even own anything ever again. The people who don't manage to pay it off will just get bailed out by the banks insurance that we pay on our mortgages. The bank is protected and investors will just buy up the profitable market with continued property price growth unless we finally start cutting them off from the market.
The banks are protected from this crap, we will just end up bankrupt with our house and belongings sold then have debt we have to pay off at the end of the day to even own anything ever again. The people who don't manage to pay it off will just get bailed out by the banks insurance that we pay on our mortgages. The bank is protected and investors will just buy up the profitable market with continued property price growth unless we finally start cutting them off from the market.
Yeah. That’s a fair take. The mortgage insurance companies have liabilities that are very highly correlated.
Boomers will probably be fine. Their super will take a hit.
People who bought houses in the last 10 years. Gen y. Will be screwed.