How does this work? Are people just routinely evicted when the rate goes up and they can't afford the payment anymore, or is there some reason this doesn't happ

How does this work? Are people just routinely evicted when the rate goes up and they can't afford the payment anymore, or is there some reason this doesn't happen? From my US perspective, I would rather rent forever than risk such a loan, so I suppose there must be something else at play which makes your approach less awful than it would be if we did that here.