I would never say never to either increases of mortgage interest rates to 8.5% and/or the return of a 10x rent multiplier for housing. Just as this high entered previously uncharted territory, I think this backlash also has the potential to go where no backlash has gone before.
Depending on the losses suffered in the secondary market, I cannot rule out a standard 10% mortgage interest rate and 20% downpayment requirements at some point in the next few years.
