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The good news is that perhaps housing supply has an inside chance of keeping up with demand, which may help to cool the overheating property market.
Carney has stressed that he does not think interest rates should rise simply in order to tame the housing market: instead, he sees the Bank's new Financial Policy Committee as the first line of defence against overheating property prices.
A more plausible explanation is that Dr Mahathir is using his diatribes against speculators to divert attention from economic problems at home, such as a soaring current-account deficit and an overheating property market.As for the proposed remedy, this displays an alarming ignorance of the workings of international financial markets.
One of the Bank's regulatory bodies, the Financial Policy Committee, is charged with looking out for signs of an overheating property market.
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Cuts in defence spending hit it harder than anywhere else in California; the overheated property sector froze; more than 57,000 jobs disappeared.
Keen to cool overheating residential-property markets, the central government has restricted purchases of multiple homes, demanded larger down-payments and curtailed opportunities for speculators to "flip", or quickly sell on, properties.
All of these social groups will point out that the recession was caused in part by greedy developers who overheated the property market and hence the entire economy thanks also to loans from their chums in the main Irish banks.
Help-to-buy, a subsidised loans scheme to help people buy a home, seems to be stirring up a housing market that already looked quite frothy.Indeed, some now worry that the economy may be overheating, or that property prices at least are growing unsustainable.
The Chancellor was asked about the prospect of the UK property market overheating.
In the final quarter of last year officials clamped down on lending, especially on property, to avoid overheating.
That led to fears of overheating in loans for residential property.Paying with plasticVisa agreed to pay retailers $2 billion to settle a suit over charges.
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