Reply to HHI 200K - how much house can/should we afford

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You only live once why save like a collapse of the United states is on the horizon. Once this terrible recession is behind us hopefully America can go back to enjoying life and not have to save like a crazy person.[/quote]

Uh because the reality is the golden years are behind us? Very few companies offer pension plans anymore, nor do I trust the government to keep Social Security functioning until I'm old enough to benefit from it (I'm in my late 20s).

I don't want to be a fear mongerer, but you have to look out for yourself. Some people, like the government employees getting 30k/year pensions on the other thread and could retire at 55, were able to benefit from the "good ol' days." For lots of us, that's no longer an option. That's why being fiscally conservative, if you're lucky enough to be able to, is a good thing. No one is saying save save save and don't enjoy life, but just to consider the ramifications of an expensive mortgage.[/quote]
Could you please define "expensive mortgage"?
Is $4-4.5K housing expense out of $10-12K disposable income (HHI 200K, remember?) insane?
Thank you![/quote]

I'm sorry, but I can't answer that for you. A gross HHI of 200k tells me nothing about how much disposable income someone has or what their other expenses are - one of the many reasons why these "how much can I afford" threads are silly. No one can tell you how much you can afford. I was only responding to the posters who are criticizing the OP for being overly conservative, like that's a bad thing. You will never convince me that it is. But again, everyone is different.[/quote]

It is definitionally a bad thing to be "overly" conservative. That's what the word means.[/quote]

Those posters' words, not mine. I think the OP is being pretty reasonable about what he/she can afford, given the small snapshot shared with us. I think the general consensus on these threads should be if you're comfortable with it, you should go for it.  :) Who cares what strangers on the internet think?[/quote]

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