One of my friend's friends works in banking and told me a shocking story. Back around when unemployment in our area was really high, they would routinely get 3 -4 people come into the bank each day to try and re-negotiate terms on their mortgage and other loans.
It was very common to see people with $200000 to $400000 in consumer debt (not including mortgage)!
I would have a hard time trying to spend that much money on non real estate stuff. Maybe a lot of that is compounding interest. Either way, we were shocked at the numbers. Considering I stress out and tired with owing $100000 or so in mortgages.
A lot of those people did end up losing their homes, declaring bankruptcy or negotiating a consumer proposal. The average age of those folks were in their high 30's to mid 40's.