I don’t believe all 1st time buyer have to be house poor when they first started. I know people who bought their first house, around 1600 sq-ft in Mira Mesa, around 1996 for $125k. They were able to pay for everything and have 4 kids on 1 income. Now, after they refi, their mortgage is only around 700-800/month. I think if you wait, that time will come again. I don’t know when that is, but like all cycles, good time to buy will come if you’re patient enough to wait.
