Nata, you are a different generation, to a point. That size mortgage was a lot back then and a lot of folk were spending on tick and got burned. Many over borrowed but it never received the attention it does today with the mass media. Remember the spate of suicides in the late 80's and early 90's that did even rate a mention. When in the mortgage business then was mortified at the mass of people deeply in negative equity territory and how over time this righted itself thank goodness.
Today the dynamic in this country is that it is not as easy as it use to be but is still achievable for many with a bit of effort. Incomes do seem to be a lot higher especially for the young.
