Did you get your downpaiment from your parents? How are you planing to afford the mortage payments + fees+utilities? I am just curious. Agree there with Kronik. Prices need to come down another 20% before they return to inflation adjusted values. Ugly wooden shacks that people buy here in North east are not houses their a fuking boxes with breathing holes. My wife and I make a pretty significant income. Without revealing an exact number, I'll say that both of us make more than six figures. The down payment is a combination of money we had saved up prior to getting married, wedding gifts, and money we saved up after getting married. Based on our calculations, we can pay our mortgage payments, credit cards, cars, student loans, utilities, insurance, etc. and still have enough left over every month to put a few grand away. Eventually we plan on having kids and my wife may stop working for a while or may work part time. By that time, I should be making even more money and we should have enough stashed away to weather the storm.