Yeah I agree that if they raise rates then it has a chance of crashing the housing markets. I just cant see them meaningfully raising rates to say 4 or 5% (base rate) because it would increase the interest on the governments debts around the world. For instance, if America raised rates to 5% they would be paying something like one trillion per year in interest on their debts. They only take in about three trillion. The uk would be in a similar position as would Europe. Very interesting times and you are correct, everyone should be getting ready should they start increasing them.