A federal inquiry into mortgage finance may recommend borrowers be required to put up a deposit of 20 per cent.

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Discussions would focus on discovering the extent of the problem, the role of mortgage brokers and whether fierce competition between the banks was eroding prudent lending practices, Mr Baird told ABC Radio.

Such a rule might change the housing landscape so that houses are sold for what people can afford instead of what people can get.

I'd love to see some statistics on the number of first homes purchased and the percentage of deposit.

But not to worry, it'll never happen.