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[quote=Anonymous]We live in a HCOL area where $1.6M barely gets you into the market if you want at least a 3/2, so plenty of people buy at that price point with 20% down and the rest in a mortgage at ~$300K HHI. I am guessing late 30s in Big Law makes at least that much, though I could be wrong. People at lower HHIs also often buy at that price point if they have enough equity in a home they're selling to bulk up the downpayment. A lot of it is about expectations of how much income you're spending on housing vs. other things. It is the reality in our area that most people spend the lion's share of their income on housing, so people just grin and bear it. They'd be spending it to rent too, so might as well be paying down a mortgage.[/quote]
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