I think you are right about homeowners. I have recently sold my house taken the equity out and am at this point in time renting a lovely apartment. I did not want to be in a position where I was at the bankers mercy. I have friends who are on interest only mortgages and spend like there is no tomorrow and another friend who has 11 buy to let's.He has taken all of the equity out of them. He said as soon as interest rates rise he will let all 11 properties go. This cannot be good for the banks or for normal people or house prices..... Something has to give.
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