A few weeks ago there was an article in the AFR outlining how lending standards were being lowered in order to encourage borrowing i.e. we're back to the heady days of 95 or 97% mortgages, capitalisation of the mortgage indemnity fee, and so on. Now, call me odd, but this article just set the alarm bells clanging for me.
And I think it would too for anyone who was in possession of at least one brain-cell: "Come on folks, it's time to leverage yourselves to the eyeballs just as the housing market crash is beginning to gather pace." Isn't this just downright immoral?
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