I thought that was the whole point? Why are they now squealing?

From The Daily Mail:

Three quarters of home buyers are concerned about mortgage rates, fearing it would take only a small hike to send them over the edge, a new report shows.

The research by consumer watchdog Which? shows one in seven cash-strapped buyers are already struggling to make their repayments. But despite their problems only a third of people affected are approaching their lenders for help.

Options available to those with difficulties include moving from a repayment to interest-only mortgage, taking a payment holiday or allowing them to switch to a different deal...

Now, perhaps I've missed something, but isn't the whole point of Home-Owner-Ism to encourage people to borrow as much as humanly possible and beyond to keep the bankers rich and the illusion of wealth (rising house prices) going?

And if some valuer is prepared to sign off on the fact that the potential selling price of your house has gone up, isn't the correct procedure to remortgage with a bigger loan to "unlock some of the cash tied up in bricks and mortar"?

So I really don't see what the fuss is about. The whole point of Home-Owner-Ism is for every generation to enslave the next generation with even bigger debts, or failing that, for people who ought to know better to enslave themselves, so that wealth cascades UP the generations, from young to old, from productive economy to monopolists etc.

If you ask me, the system has worked a treat. Keeping people close to the verge of bankruptcy used to be something to be celebrated - that way they have to keep their noses to the grindstone - so I appear to have missed that memo as well.

See also The 830,000 homeowners stuck in a negative equity trap