My uncle had invested heavily during the boom years and also borrowed against property. When markets collapsed, he kept waiting for a quick recovery while interest continued building. Eventually, he sold his flat and closed his small business.
He, my aunt and their two children moved into our house for nearly two years. I was young and did not understand the numbers, but I remember adults whispering at night. That experience is why I still get uncomfortable when someone says leverage is harmless if the company is good.