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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]My spouse makes $65k teaching. Good luck buying a house on that. We did buy based only on my income, which was in the 5 figures at the time, and I regret it. It's a very, very old duplex with mediocre schools in an exurb. The plan was to live there a few years and move when the day care bills were ending and our incomes were hopefully a bit higher. We weren't counting on the explosion in housing prices and interest rates, nor did we realize that our house would appreciate so much less than a SFH. We're pretty much stuck and don't even have the space for an addition. Anyway, in retrospect, stretching for housing instead of trying to "climb the ladder" would have been smarter. [/quote]
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