Now I know why we rent, and why we’ve been very long-time, bubble-sitting bears. 😉
Personally, I’d move to Kansas before paying 50% of our take-home pay on housing. IMHO, keeping housing costs low is the #1 way to keep yourself out of debt — especially in California.
We like to have a life outside of housing, and stay out of debt. The only way to do that with $100K income is to keep **total** housing expenses well under 35% of gross income (PITI, any HOAs & Mello-Roos, and repairs/maintenance). Preferably, it would be below 30%, and who knows what it should be if they continue to allow inflation to run like it is — which leaves even less money for housing.
BTW, I’ve noticed about 40% (or more) of the posters on Ben’s blog are female. It’s a myth that only men are able to see bubbles, and that females “need” to nest. Many of us had to convince our husbands to sell/rent.
