It’s crazy to buy now. Why buy now? What sort of downpayment will you make on this McMansion? If you and your wife are making $200K per year or more, then by all means buy!
It’s the women who drive the irrational housing market as they convince their husbands to buy a nest at all possible costs or otherwise you’ll be priced out forever!
Before buying a nest, I would wait for an egg to hatch. That’s the bottom line in my household. No eggs, no house.