4  BIS Review 129/2008  In addition, the propensity to lend normally follows a cyclical pattern. The quality of credit is generally better in an upturn than in a downturn. During the period under consideration, this contributed to the emergence of asset price bubbles.
This would imply mortgages would grow fast and likely to cross `40 trillion by 2020; ii. Another segment that will provide huge opportunities will be the financing of affordable housing for growing “low” & “middle” class;  iii. Rapid accumulation of wealth in rich households will drive wealth management to 10X size;  iv.