I guess there is, and always was an appetite to buy whatever the risk.
I remember arranging my then very insubstantial mortgage, I was still wary, nervous, u sure, tried to factor in a safety net etc etc. I remember saying to the lady at the building society...'how on earth do people take on mortgages 4, 6 times more than what I'm paying ?'
Her actual words were...'they just gulp and sign...and hope for the best
Those worrying costs at first diminish...assuming everything stays pretty much the same..
Pay ridiculous rental costs or plunge into buying your own....neither is without its uncertainty. Long term everyone knows buying is the right thing to do...its just a gamble you have to take.