[quote name='javeryh']I'm not saying how much I actually make but you'd be surprised how little that is living in the NYC metropolitan area with a stay at home wife and 2 kids. To put it in perspective, I paid a 1/2 million for my house and the entire footprint is 25'x25' without a finished basement (impossible due to 6' ceiling) on 0.14 acres of land. That was 3 years ago and the neighbors down the street just sold the essentially same house over the summer for $650k. It's just out of control.
I actually don't know what we can and can't afford because my wife takes care of all the finances - according to her we are about 3 video game purchases away from the poor house though. I'm also a giant cheap ass who hates spending money on just about anything that isn't related to video games, music or TV.
In other news, I am eyeing up the 50" Panasonic 1080p plasma - It's under $2,000 right now and I think $1,500 is the magic number - I'm aiming for a 2009 purchase.[/QUOTE]
I have no idea how much you make either (and don't want to know) but you did respond with "Starting salaries for first years are $145,000 plus bonus" to another lawyer, so I thought you'd be somewhere around that if not more

.
But I understand - although 500K sounds dirt cheap to me for a house in NYC. I figured they'd all be 1 mil+. Try buying a house like that ANYWHERE in the Bay Area. You'll get a shack with no plumbing if you are lucky. I have friends that bought a fixer-upper for 850K. Part of the reason I moved to where I am in semi-rural Oregon (from Tucson where housing was also getting expensive) is that we could get a fairly large house with a fairly large yard (though still not much more than yours - like .2 acres or something but that is plenty big!). And still, where I am, nice houses are in the 400K-500K range with many significantly over that (secured mine for about 325K in 2003 - part of the reason I'm a CAG is that the mortgage takes half the paycheck).
I'll probably get a nice 1080p HDTV about when you are. Then maybe I can buy a PS3 too

. I have an extra room set aside as a kick-ass gaming/movie room though now it is chock full of kids toys and used as general storage. I'm too much of a cheap-ass to get any furniture or anything for it to make it look truly nice. Another problem is, we only have 3 very small bedrooms in addition to ours and a 4th kid on the way. Either 2 share the large extra room or two bunk up in a small room.

k
pacifickarma - Yeah, that's what I'm talking about. That's scraping by in most of Northern CA (unless you are somewhere like Chico or Yuba City :lol

.