What salary do I need to buy a house? I struggled with that question in my 20s and it probably kept me renting a year or so longer than I really needed to be. Then again, considering the housing crisis of 2007-2008, renting a year or so longer was a small price to pay to avoid potentially making the biggest financial mistake of my life.
One of the reasons for that financial crisis was not enough people asking that question. A second reason was banks being dishonest about the answer. For the record, I think buying a house is a good idea and it’s worth it. But you have to be sane about it to keep from getting into trouble.