Regulators crack down on home loans

The federal government has given the green light to regulators looking to crack down on high debt home loans.

Yellow Brick Road Home Loans Executive Chairman Mark Bouris told Sky News Australia he does not want this to open the door for the wealthy to buy up all the real estate available.

“And put all the people who are not so wealthy, who are aspirational, and put them in a difficult position,” he said.

“People want to own a house, they want to build a portfolio.

“They want to have in investment property, they want to have a holiday house.”