I think that it is inevitable that interest rate shock (at the very least) is in our future. How far the prices will drop when that happens is speculative but it could be pretty grim. However I am not sure when we will see that shock. It could indeed be very 80’s like. So if you can reconcile that event then you are okay. Agreed with you on the higher taxes statement as well.
The real question is how long our creditors will continue to put up with our debt. I used to think (many years ago) that it would not be long. Now I am more convinced that will be several more years.
As far as finding a place, sounds like you found one that has been better then every single place you have seen. That definitely makes it harder to pass up. Sounds like a tough call scaredy.