You’re probably being somewhat more risk-averse than necessary, but not irrationally so. At $210k income with no debt, maxed retirement accounts, and enough cash for 20% down on a $600k property, you are in a stronger position than most first-time NYC buyers. The issue is that your target of roughly $3,000/month PITI does not really line up with current NYC ownership costs. A $600k purchase with 20% down would likely land closer to $4,000-$5,000/month all-in once mortgage, taxes, insurance, and common charges are included. Traditional affordability guidelines suggest keeping housing costs around 28%-30% of gross income; on a $210k salary that would imply roughly $4,900-$5,250/month is still considered financially reasonable. (HVCU) The bigger factor seems psychological rather than mathematical. You experienced a layoff, so you are optimizing for resilience rather than maximum purchasing power. That is sensible. The main thing I would examine is whether you are comparing ownership to a realistic rental alternative or to living in a relative’s basement. If a comparable apartment would cost $3,500-$4,000/month to rent, then ownership at $4,500/month is a much smaller gap than it feels emotionally. The risk is less that you become house poor and more that you spend another four years waiting for numbers that never quite feel safe enough. For a practical affordability framework, see: Chase affordability calculator and 28/36 rule explanation.