But this is not a problem with low interest rates. This is a problem with the financial regulator not making sure that banks don't lend to people who can only afford the loan because of interest rates that a blind deaf-mute could have told you that the ECB would eventually raise.

This is not the issue. Low mortgage interest rate does not improve the ability to buy houses. And asset price inflation is not a "sub-prime" issue. Low interest rate just capitalises rental value into higher price (price = rent/interest). The absolute interest payment stays the same despite the interest rate in monopoly markets like housing. Just the amount of debt increases and along with that naturally higher amortisation costs. Then we have a economic disaster.