Reply to How much to expect to spend on a new house?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

If you have two incomes in stable job fields you should be fine and this is reflected in the DC market, that is why prices are high for houses. In places with high unemployment you can definitely afford a house on 1 income because housing prices are much lower to reflect that aspect. Her book probably isn't geared to the DC area.[/quote]

I think this is missing the point, to an extent. Losing your job is only one of many "unexpected" things that happens in life. You might want to work forever, but you also might:
-need to take care of an aging or ill parent
-have a special needs child
-have a child experience significant illness or injury (for example - I had a neighbor growing up whose child fell backwards off a swing one day - the head injury from this random accident rendered him intellectually disabled, requiring full time care into adulthood)
-experience an illness or injury yourself
-your spouse becomes ill - maybe you have disability insurance for your spouse, but probably doesn't cover your need to take time off work to care for him/her
-change your mind in 10 years

Those are just a few things that come to mind, but none of these things are impacted by how stable your job is and how much you love it.[/quote]

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