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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][quote=Anonymous]iwe purchased based on one and sure am glad we did! my spouse was a victim of dodge and since we have based our entire lives around one salary we have a huge safety net and a very manageable mortgage. spouse has since found a job but many of his laid off colleagues haven’t and are stressed to the max because their entire home lives had been structured around 2 government incomes they assumed would be there forever. [/quote] That is exactly why we have tried to base our lifestyle off of one income. For the 6 years before we had kids, it allowed us to pay off all our student loans (almost 80K 35 years ago), save 10% for a downpayment and get to the 20% within 2 years to remove PMI and build a 9-12 month EF all before having kids. It allowed me to be a SAHP when first kid arrived without too much concern for finances. Basically it gives you choices and lets you live with much less stress. [/quote]
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