1) I&#x27;d hardly call them stretched.
2) I wouldn&#x27;t call it a &quot;weird aversion&quot;. Weimar Hyperinflation (and the consequences) is still in the public&#x27;s heads. Compared to other places I have lived people in Germany are indeed more reluctant to debt-finance things in general and &quot;save before buying&quot;. I think it&#x27;s a fairly healthy base attitude (but I&#x27;m probably biased being German). It&#x27;s less valuable currently with near 0% credits everywhere but as a base mindset it helps avoid the trap of not finding a way to generate the expected revenue streams eventually.