While housing prices may continue to rise, it's possible they can also fall. Past history demonstrates that the law of gravity doesn't hold the housing market exempt. Interest rates, regional economies, unforeseen soil contamination, nearby real estate development, even weather conditions can adversely affect the value of homes. Gone are the days when the average person can count on working for a company for 25 years then retiring with a pension and gold watch. Look at the company, the industry, the economy and the region.
Many young couples purchase a home as the first step to starting a family.
Stretching the limits of your qualifying range often means that both spousal salaries are needed to meet the demands of an increased mortgage payment. This is true not only at the time of the purchase, but for years to come. So, there you have it. Specifically, your ability to tolerate risk. As always, seeking the advice of a financial advisor before making any real estate purchase is a wise move.