That's 100% true. Although even with the "exotic" loans, said example family is stretched to the limit - instead of 2 grand they might be paying about 1200, but that payment goes up every year on the loan he was talking about.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus