I don't know about the US but the next move in the UK is to deregulate lending criteria. Allowing more people to borrow 5-6x income with tiny deposits.
People have always over extended themselves here to buy property.
They should tighten rather than deregulate. Tightening would result in lower prices as well.
If a 20yr mortgage suddenly became the only option, prices would decline in a big way. Of course, things might go the other way with 40yr mortgages etc
If a 20yr mortgage suddenly became the only option, prices would decline in a big way. Of course, things might go the other way with 40yr mortgages etc