Debt is not a bad thing... So long as it is responsible debt.
At $30K a year you know you can't afford that $270K house but you borrow anyway. That's irresponsible debt.
As a bank, you know theguy doesn't make much money but your willing to give him a break... So you require no downpayment and offer attractive rates. Knowing full well that the mortgage payment alone is worth over 80% of the monthly income... That's irresponsible lending.
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