[hinckley buzzard]

You put your finger on one measure of how serious this problem is becoming--the percentage of mortgages that require more than 50% of income to make payments. This too is at an all-time high.

With such low interest rates, imprudent borrowers get themselves in way too deep, and together with other ballooning installment debt, lose control of their finances.

While there are banks and finance companies which will approve crazy loans, no one ever yet forced a customer to borrow too much money.

[spunkets]

"no one ever yet forced a customer to borrow too much money."

The govm't does. Retired people that don't have enough to pay property taxes have to borrow, or lose what they rent from the govm't. WI is generous, they offer 18% interest to retired folks in the jam of not having enough cash to stay in their house.