True to a degree. I certainly agree on the we've ignored it bit, however without those who "overstretch", there is no growth. What is affordable one day quite easily becomes unaffordable the next because of the actions of a relative few. It's always been pay cheque to pay cheque for many people, quite possibly the majority and whilst I agree that some take on too much, I'd say that they generally do so because they project that they can afford that debt. The rising cost of living is what tips that balance, but as you say, people have ignored it and it has always been that way.
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