I was saying that your situation is an example of why our system is nuts. Why? For one, because you say that you won’t be able to increase your downpayment much over the next few years, so that means you have little future savings available to pay for housing. Since you also don’t have the current price of what you want to buy in cash, my conclusion is that you cannot afford to buy a house for that price. You don’t have the money now, nor do you have the saving power necessary to pay for it in the near future. Yet you consider it normal and rational to buy it anyway. You probably are not unusual. That this kind of behavior is normal in our society is, to me, nuts.
Now, there is a second reason why your situation shows that our system is nuts. You earn a good income, and hopefully have some (small) saving power, so you can afford a modestly priced home. That a modestly priced home is one that few middle class professionals would want to live in is also nuts. It’s the radical overpricing of housing problem. The causes are many, but the vast river of govt money going into measures designed to support sky-high home prices certainly doesn’t help. Without that river, you could actually afford a decent home at a decent price. Yet we all pretend that the complicated and expensive system we’ve constructed to keep home prices sky-high is rational. That too is nuts.
