A category of person who should have a pretty good look at if the mortgage ceiling has had any effect is the brokers. These are a bit involved in the trade in houses. Almost 60% of these have in a survey now said that the roof has had an impact.
What the brokers have seen
Is that the more weak groups in society in terms of finance have made it harder to get a loan of the size they want.
Another effect that has become commonplace is that they now settle the last 15% of the loan, which must not be a mortgage loan through their parents. These take out a loan with their house as cover where the money goes to the kids’ new house.
Quite logically, even the mediation period has become longer in houses and it has become more common to look for cheaper accommodation.
What I think
Myself, I probably continue my attitude that it is a good idea with a mortgage loan. In my opinion it is not a right to buy a nice house that you can not really afford. Paying such a house with only borrowed money is not good if the house later, for example, would lose value.
Saw, for example, a documentary a day ago about the 1929 stock market crash in the United States. The fact that there were so many problems for many was largely due to the fact that people had bought shares on the margin. Which means they had borrowed money to be able to buy shares they were sure would go up. It could even be that 90% of the cost of the share was borrowed from the broker. Then, when everything went bad and the loans were to be paid, there was no money to pay when the shares had crashed.
It is a similar situation that I want to avoid here in the country and then a mortgage loan is a good idea in my eyes. We do not want a situation directly like the one in the US in 2008 that largely triggered the recent crisis. It is, as I said, not a right to buy an expensive house. However, it is a right to buy a house that you can afford and that is what I think this roof is trying to do. Then whether the ceiling is at a perfect level or not I have a little difficulty in pronouncing.