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Reply to "Why do people buy houses on the basis of 2 salaries instead of 1?"
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[quote=Anonymous]1) Because we live in a HCOL area 2) we were young when we bought our home - our joint income at the time was less than my spouse earns independently now, seven years later. We actually did factor in wanting flexibility for one spouse to stay at home, so we didn’t stretch our budget too much. We also haven’t moved into a larger home despite our HHI doubling since moving here. The cash flow gives us flexibility for travel, private school for kids, or I might leave my job at some point in the near future. But main reasons for spending a decent amount on our house when we bought were that housing costs are high in our area and we were young and pretty sure our incomes would increase over time, making our housing costs a lower share of our HHI. [/quote]
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