The idea of repaying borrowed money never occurs to people. The idea that interest rates might rise and cripple those who owe too much never occurs to people. That seems very short-sighted to me.

But... what if they're right?

Interest rates have been low for a decade. That's pretty unprecedented. What if they're going to stay low for another few decades? Maybe they're actually acting rationally... if they're right that this is going to continue for a long time.

This scares me, because I fear that we're just putting ourselves in a worse and worse position for when things get tighter. But what if it really is different this time? What if they never do get tighter?