This is why housing affordability should be tied to income, rather than willingness to go into debt. As with education, once the banks can get a guarantee that they will be bailed out in case of trouble (explicit with education, implicit with housing) the race to the bottom commences. Prices go to the moon, everyone ends up in debt slavery

There is a reason the church was so hard on usury. I hope it rediscovers the issue: it is the most pressing social justice issue of our time, cutting across all non-elite identity classes.