Strict rules on mortgage lending could be loosened to allow more people to borrow for a home, as regulators respond to a call to boost the economy.
In a newly-published letter, the UK's financial regulator the Financial Conduct Authority (FCA) says it will investigate ways to simplify rules brought in following the 2008 financial crisis.
They have learned nothing at all from the 2008 crash.
"There will be no return to boom and bust!" (Gordon Brown)
We must deal with reality or it will deal with us.
Words fail me. This is so obviously going to stoke house prices even higher, and condemn millions to a Lifetime of unpayable debt, followed by a financial crash which will destroy the savings of the more financially conservative.
In my humble opinion the problem with house prices in particular and the economy in general is that interest rates are too low.
People borrow too much and either spend too much on imported goods or buy a house that is too expensive. Mass immigration both legal and illegal does not help things. You also take money away from retirement savings and investment.
What's that one about insanity being to do the same thing over and over and expect a different outcome?
I would love to have been a fly on the wall when the 'economic experts" were kicking this gem around!
Overconfidence, not just expert overconfidence but general overconfidence,
is one of the most common illusions we experience. Stan Robinson
I'm no Economist, but feel that we've been here before and it didn't end well....
However, we're also in massive housing crisis....
Millions living with their parents well into their prime years, as they can't afford mortgages...
Millions living in private rented properties paying exorbitant rents for poor quality properties...
Many people just waiting for their parents to drop dead or downsize...
Massive numbers in insecure accommodation and many homeless...
Increase in population - legal and illegal immigration...
Hardly any social housing has been built for years....
