Comment by qeternity

> This is a smart move.

> House prices must continue to rise, or the debt-tower collapses, and everyone ends up penniless.

It's not a smart move. Price cannot and do not trend in one direction forever. This is natural force to discover market clearing prices and thus efficient resource allocation. The only difference is how bad the pullbacks are.

Just ask any central bank which has lost a battle against the free markets (which is all of them). It's much more costly.