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But given that the financial crash was partly caused by a housing bubble in the first place, and that we desperately need to rebalance our economy towards being a high-tech one that's less reliant on debt, is it the best use of the windfall?
The report said that poorer families were increasingly reliant on debt to make ends meet.
The FCA said slow wage rises meant that people could become more reliant on debt.
Secondly, Osborne has failed in his other big aim, to make the economy less reliant on debt and more reliant on manufacturing and exports.
Lord Turner, the former head of the Financial Services Authority, said the latest OBR forecasts were a warning signal of how the economy was still reliant on debt, even though the Government's deficit is set to be eradicated over the coming years.
BUT Theodore R. Bigman, a managing director of Morgan Stanley who also manages its real estate mutual funds, said that those highly leveraged investors would probably be replaced by more traditional buyers who were less reliant on debt, like pension funds and foreign investors.
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Those actions are part of what economists call rebalancing -- a reorientation of the world economy to be less reliant on debt-financed spending by North American and Western European consumers.
But in the short term, at least, Europe's woes have complicated the American desire for a global economy that is more "balanced" -- that is, less reliant on debt-financed consumer spending in the United States.
Britain's economic recovery remains too reliant on debt-fuelled consumer spending, a leading UK business organisation has warned, as it downgraded its growth forecasts in the face of a manufacturing slowdown.
This is potentially troubling, given that many would argue that the flaw in Britain's economy in the boom years before the crash and Great Recession of 2008 was that it was too reliant on debt-fuelled consumer spending.
The problem here is an economy that's become vastly over-reliant on debt and vastly over-protective of bankers.
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