Quote from morganist:
I don't think I know anyone who only pays $1,000 a month rent or mortgate. In the UK housing is more than half your income even if you earn £50,000 plus. It is just ridiculus.
For a grand a month you have a pretty good selection of apartments in the burbs. Nice layouts, new appliances, carpet, crime free, good schools, and a choice of demographic, young people, young people with kids, seniors.
Two people with crap jobs can have some "stuff" newer cars, Iphones, cable.
Once you step up from rent to mortgage, the choices are limited. The mort interest deduction mitgates some of the expense but you're screwed on repairs, etc. it costs money to mow a lawn.