Shopping For Houses

I recently decided to stay in Boston indefinitely, and the result of that decision is that I've decided to buy a house in Boston.

I found a place I really like and I've put in an offer, but the really surprising thing to me was that the bank pre-approved me for a loan up to 700,000US. That is CRAZY. I can't believe it. It's no wonder the US banking system is in such turmoil with numbers like that, and I could never possibly hope to pay off a loan like that on my income.