Elly

In the first place, the interest absorption scheme was started so as to attract buyers.Then as more people come into the scene, the properties start to hot up.  Flippers start to join in at this stage because they observe that it is the uptrend; why not? it's easy money for holding just a few weeks or a couple of months. Then the scene becomes chaotic! The government will say something or change some rules to control the situation.  Some will be caught unaware!  
Buyers lock in a high price for the new house, then when it's TOP, say 2 yrs later, they can't sell their 1st house at their desired price, so there is a price gap which they understimate,  hence face some financial problems.
Unless you are rich, if not, why want to overstretch ourselves? Always buy something within one's  budget, no need to compare who has a bigger house. And definitely don't fall victim to whatever interest schemes out there.