Business
Easy credit will fan the flames of housing boom, critics warn – Sydney Morning Herald
Consumer groups and some economists have warned a government plan to axe responsible lending rules could add more fuel to the housing boom.
Consumer groups and some leading economists have warned a government plan to axe responsible lending rules could add fuel to the housing boom by easing credit while prices are already surging due to ultra-low interest rates.
In a move that is supported by banks but opposed by consumer advocates and the federal opposition, the government is planning changes that would mean banks are no longer subject to responsible lending obligations.
As the housing market heats up, critics say rolling back responsible…
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