This is partly why lax lending standards did so much damage. Anyone spending 2/3 of a single net income on a mortgage is one minor life event away from being completely screwed, so much so that banks wouldn't even offer you that much rope until a few years ago (when they could sell it off with a bogus rating). Now it's going to be a long and reluctant price adjustment back to what the majority even here can realistically afford. In the meantime, I rent within my means as a single (about a mile away from that house), so the wage difference for being here is huge for me.