A new rule of thumb for mortgages - 2004-03-07
First-time home buyers 30 years ago were often told to stretch their time as far as they possibly could to buy a house.
What's more, buyers can't count on a real estate agent, mortgage loan officer, friends and family or an Internet calculator to know what they can really afford. That's a decision they have to make themselves after reviewing finances, future obligations, goals and their gut instincts.
Read the full story at Los Angeles Times 
