of people having to bundle back into their original family houses because they defaulted.
And just think how in Australia, the bank of mum and dad put a lot of the money in for the deposits. This means that they lose it in the default and, the kids won't inherit it later either. Big impact.
That's true and they've lost the asset in an asset class that only seems to be appreciating in value over the space of a mortgage bond. It's a lose lose all around, even the banks don't really do well out of this scenario.