<prompt> Human: A little background:I moved from SoCal to Denver in June to take a contract job with a large corporation. It was a big move, but the pay is more than I have made at any other job in my life, and I had been on unemployment for 6 months previous after being laid off from my job of 8 years during a restructuring. I sold our house in SD, and ended up with about 100K of cash after all was done. The house we are in contract with is in a very desirable area of town, and is a huge upgrade from our last home. Numbers:Credit Score: 791Current Monthly Income after taxes, insurance, etc.: 5500Home: 420000Mortgage: 2050monthCash on hand after downpayment: 22000Current obvious options: Buy the house Walk away If I buy: Who knows if I can afford it with the new job? Who knows if I will find a new job in the area?However, The market in this area is super hot, I should be able to sell it without issue I could rent it out, as the rental market here is even better than the buyingIf I walk away: I dont have the house I still have the same cost for renting minus upkeep, etc. My realtor said she thinks I may not be able to get another loan for 1-2 years due to walking away near close unverified.I have 1 week to make a decision...UPDATE:I sent the letter today backing out of the purchase. Everyone had wonderful advice, and I really appreciate the help. The only money I have lost is the appraisal.  <response>: If I buy: Who knows if I can afford it with the new job? Who knows if I will find a new job in the area?Based on just these two: DO NOT BUY. 