I was thinking about the story (below) of the Spanish man and his housing purchase. The family income was €1700 per month or €20,400 per year.  There purchase was 253,000 or 12X their annual income.

I remember buying our first home and being uncomfortable with the ‘conventional’ thinking that you could afford a house that was up to 3X your annual income.

12X? That banker should be put in jail.