[quote=moneymaker]Maybe those are maximum amounts, I’ve always heard 5 times income. If it was 5 times take home then I would agree, but I for one don’t feel comfortable spending 5 times gross income on a house. Not sure how many people first starting out realistically have the 20% down.[/quote]

When I was young the multiplier was three. The house that I grew up in was worth less than my dad made in a year. It just wasn’t such a big deal – and nobody knew the square footage of each others homes.