House prices will fall meaning lots of people in negative equaity. Possibly lots of repoesesions also as many people have took out massive loans & 2nd mortgages based on what the value of there property was in an era of econmic growth.
For buyers it's just as bad as mortgages are harder to get and inflation makes harder to save for a deposit.
We could end up with 20% unemployment like back in the 80s and massive social decay, while those who profit from economic downturns (speculaters) will make a fortune.
Next come the government brings in tough economic polices and it all reaches boiling point and leads to scenes like this :-
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