Mortgage Trends by Age Reveal if You’re Spending Too Much on Housing

Key Takeaways To test whether a home will be affordable, you can use the 28/36 rule. Another rule of thumb is not to take out a mortgage worth more than two or three times your household income. The typical (median) mortgage today is only affordable for couples—in just about every age group. A bigger yard. A real asset. A blank slate to make a place your own. Whatever your reason, buying a home is a big step—and it's crucial that it's not more than your budget can handle. There are a few ways to ...