I don’t know what the right thing to do is. I can tell you that this is more than a strict financial issue in some ways. My wife is a doctor. We have a bunch of kids. We have kind fo struggled along raising them and figuring out what our priorities are, lifestyle-wise, etc. I can tell you that for us, renting is the best mental deal. Without children, there really is nopoint to having so much house, in my opinion. Our house now is still tiny–and most of our kids end up sleeping on our floor by the end of the night after wandering in. we often joke we could live ina one room house. that’s a bit of an exaggeration, but really, you guys could be happy in many different places. To me, doctoring is hard, hard work, and you may want to take a break from it t one point, like my wife…just cause you can “make” the payments doesn’t mean that you want to work like a dog every month for the remainder of your existence here on earth. There is a lot to be said for living way wya way below your means, incluing your house payment, simply because of the freedome it affords you psychologically. You don’t feel like you are completely tied to your current situaiton in such an endless way. now this may not apply to you. there are plenty of doctors and lawyers who work work work and never look back. But I wouldn’t be surprised if the medical biz doesn’t wear you down after a while. particularly if you have childre, you will probably want to slow down. there is no reaon you couldn’t be extremely happy in a house that goes for 1.5 times your salaries, or even less…this is justa thought. I dont relaly know what this house “means” to you–whether the house itself is like some downpayment ona future happy family life. but the work the hassle, and worst of all, at leats for me, the financial uncertainty of what’s coming up aroun the bend, well, i just sleep better not being invovled in the real estate market lately and in the near future. i would like to buya place,if the paymetns feel right, and the situaiton feels just right. i know a grinding comute would NEVER feel right to me, at least. My opnion, based on what ir ea dhere,is to dump the place, even if you ahd to take a small loss. just my sense,basedon very limited info. dont know if this has any value at all for you,a nd I dont mean it in any kinds of mean way.
