that's why we aren't in the poo Jason
MOST people DO buy what they can afford, hence the LOW foreclosure rates.
and people on "average" salaries don't buy homes worth $1m with $800k mortgages
because they can't...and most average people don't have $200k cash deposits either.
I'd be happy to see any evidence that a bank will do this...but it just doesn't happen.
The whole argument is fictional.
