Credit fueled housing collapse, page-131

"Remember how they alway said, dont borrow more than 3 years wages."
Not a bad rule - but these days it is closer to 3 years combined household wages which given the quantity of dual income households is reasonable.

"When home loans hit normal ranges again around 7 - 10%"
What timeframe is that likely to occur - seems quite a way off yet!

As for the balling the only ones balling are the perennial housing bears