Time will tell if the doom sayers are right but I don't think they will be or it won't be anywhere near as bad as they expect. Either way in 20 to 30 years it will be a another blip in history, and the owners will still own the asset whatever it happens to be valued at.
And loaning on two incomes is perfectly acceptable. When any organisation whether it is a family group or a company the only thing that needs to be considered is their capacity to pay the loan based on their income.
