[ntkachov]

I can put some perspective on this. We got priced out of the market in Feb. According to the bank, we can't get a mortgage where the overall cost of the payments on all our debt can't exceed 41% of our pre-tax income. Given that our student loans eat about 20% of our pre-tax income, that means we only have 20% of our income left for housing. Rising interest rates means that more of our house payment goes to interest which means less of it is left for principal, so we cannot afford the same home we could last Oct. The tax incentives used to mean that we could deduct a good chunk of our housing costs from our taxes and use some of that money to live, bringing it inline with what we would pay for rent. However, that changed and made renting easier on us financially.

High student loan payments and high mortgage rates means that the only thing left to give is the price of the home. Or the bank can be cool with us leveraging ourselves to 50+% income.

[jakelarkin]

if youre paying 20% of your income to student loans, buying a house isnt exactly the best play. Student loan interest is a scam. Dig deep and pay that jam off as quickly as a you can.

[wyclif]

Best advice in this thread, IMO.

[ajmurmann]

With a tight budget like that, imagine you had bought the house and then the tax code changes and now the math doesn't work anymore.

[scarface74]

Why would you want to? Is a house really worth it?