<prompt> Human: We have combined savings of about 40,000 and 8,000 in brokerage accounts. My spouse and I mid to late 20s together make around 120,000 annually. We are currently renting for 1,600 a month and have total monthly expenses averaging between 3,500 and 4000. We only have one debt - a car with 23K remaining, with 400 a month.We were thinking about buying a house in the 250K-350K range with similar monthly payments. Is it a good idea to buy a house now? Or should we wait for another year risking higher interest rates in the near future?  <response>: Or should we wait for another year risking higher interest rates in the near future?It isnt a huge exaggeration to say that millions of people being told that is what caused the 2008 crash.My stock advice is to say that youre ready to buy a house when you have no high-interest debt and can put down 20 deposit and still have six months of expenses left in your emergency fund after closing costs. 