re: In the market for a house...

[quote]I think buying on hopes of wage increase is very very risky. If you factor in wage increases you have to factor in unemployment and layoffs[/quote


Not if he and or his wife is in a technical profession that requires a BS, MS, or Doctorate to enter the work force. This is why I asked what is his profession. The OP indicated that they are first time home buyers, newlyweds, with no kids, making a combined income of $160K. Based on the information given in the OP I am under the assumption that they are "DINKS" in the early stages of their professional careers. In which case my advice would be to stretch their budget as much as they can AFFORD because will LIKELY see significant wage increases as their careers progress from entry level to Sr level or they get management opportunities.

From reading several of your posts over the past few weeks you are either a troll or have a terrible outlook on your economic situation. Just curious how old are you? What are you doing to improve your skill set so you can improve your situation? Quit blaming the government for your problems. Quit reading all of these "woe is me" articles about wage growth vs inflation, median income, house prices, etc. It's all noise. Improve your skill set, make yourself marketable, and take control of your destiny.

I am not trying to single you out as much trying to speak to everyone that seems to be wallowing in self pity right now about home ownership and interest rates.