Is it enough, or just barely enough? I'm seeing a median home price of 300k per Zillow. In addition to coming up with the 15-60k needed to put a downpayment on the house, you are hit with $2,000 a month in mortgage/insurance.
This hardly sounds like a steal to me because it is exactly what I am paying in NY. I make $2200 post tax per month, which is bang on the median income in this area. Half of my money goes to rent, the other half to car/food/health insurance and so on.
Were I to lose my job or have kids, the situation would be completely unaffordable in a matter of months as opposed to years, which is the type of cushion the earlier generations had.
