[petsfed]

>I think people are over-extending themselves.

I mean, yes and no. It is true that people are overextending themselves, but there are not a lot of alternatives. To whit: the median home price to median household income ratio is the highest its been since the census started keeping track in 1947 [0]. Its worse than 2008, and like the article says, there are a lot of guardrails in place to prevent the wildly irresponsible borrowing that created that mess.

0. https://www.longtermtrends.net/home-price-median-annual-inco...

[petsfed]

I think a potentially illuminating visualization would be to calculate what home sale percentile corresponds to a responsible use of the median household income (and vice versa) over the last 70 years, but that sounds like a really finicky calculation, so maybe not today.