I was in a similar boat as you only we chose to move. So move to Sacramento! Move to a saner city…just kidding.
I would say, buy what you can afford and stay there. IMHO, The idea of moving up is a bad one. because by the time you have some earned equity, you have more expenses, more of a need to save for retirement, or a kid’s college tuition. At the very least I would find some cheaper digs for the next couple of years (~1200/month) while the housing market is so incredibly volatile and save save save. You would be surprised how much cheaper rent has become if you just look around a good bit.
