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Originally Posted by Graham
IMO that wouldn't be such a bad thing, because it's about the only thing that is going to stop the housing market going even further out of control to the extent that we see another 80's style crash.
Too many people are already lying on Self-Certificated mortgage applications, saying they're earning as much as two or three times their real income, to get a mortgage, but if interest rates go up by another percent or two, they're going to find themselves in severe problems trying to repay their loans.
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Absolutely! It cannot be allowed to go on.