Tightening lending standards will get you more affordability than lowering interest rates, though I think in the coming bust both will help. Less people able to borrow means less potential buyers. If your friends have good credit that will be the determining factor in improving affordability as lending institutions will be taking less if any risks. There is a whole passle of things that go along with a bubble bursting that will help some people and hurt others. I honestly can’t think of a scenario that justifies purchasing at this point, unless you are staring in a re-make of brewsters millions and you literally have money burning a hole in your pocket.
