Next up, we have a question from David M. He says,

I'm rethinking 20% down for my next home when 20% won't be enough to bring down the monthly

payment to 25% of my gross income. Prices in New Jersey are gross and moving up means

needing a bigger down payment for it to make the math work. This is interesting to me because we

always say, oh, at least 20% down, 20% down in your second home. But I think that he's right.

Can you expound on what that looks like if you're depending on where you're living?

Yeah, this is kind of dangerous territory. David, because what you're saying is,

I want to move to my next home and if I put 20% down, it's going to put me in a not ideal situation

because my monthly housing costs are going to exceed 25% of my gross income. And we would argue,

if that's the situation and circumstance that you're walking into, you perhaps are buying

more house than you can afford right now. And I'm going to make another assumption here, David,

that if you're buying your second home, I'm going to argue that now you're probably a number of

years into your career. You probably bought your first home somewhere earlier on and now you're

thinking about upgrading and moving to the next one. So maybe your career trajectory is a little

more stable, is a little more established because, you know, we've had people before say, hey,

you know, I'm a young attorney, young doctor, you know, whatever the field. And I think my income

is going to blow up. So right now and I buy this house, I'm going to be at 30%. But when I get my

next pay raise, I know it's going to bring me down. I think it's okay. You can stretch that a little

bit. But if you're in a place where you know your income is going to kind of stay in the same

place and you know that you're not going to have these large income increases, I think you've got

to figure out how do I do everything in my power to get that housing cost below 25% and in your

situation, it sounds like that's probably going to require putting more than 20% down to make sure

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