[quote=temeculaguy]Need a little more info. What did you pay? What did people pay two years ago?
Hate to say it but for the umpteenth time, escrow is not the time to ask advice, it’s almost too late. Most of the opinions will be that you caught a falling knife and that will only make you nervous.
More importantly, did you make a downpayment and take out a fixed rate loan that you can easily afford on just your income when your babymaking begins and your wife stops working. If that part is o.k., no sense in crying over spilled money, just enjoy it.[/quote]
Temeculaguy hit the nail on the head. I’ve seen too many of my friends (late 20’s) get starry eyed and buy a $500k home with their combined $125k income, then freak out when they realize that raising kids requires either a) one of them staying home or b) forking out $1,000-1,500/mo for full time day care (neither of which did they calculate in their debt/income ratio).
Thankfully, I’m starting to see a trend away from keeping up with the Jones’s. Good riddance.
