Yes, people do borrow money, but they usually borrow from banks or from building societies. This form of borrowing is known as mortgage. If the borrower fails to maintain repayments, the company can take the building from them.
The property chain is that the houseowner wants to sell his house and buy a larger one. The buyer for this house must either have enough cash in his possession or the possibility of getting a mortgage. If he fails to get this money, then he withdraws, and the whole process has to start again. That means that each houseowner has to readvertise his house and look for a new buyer.
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