Overview

How Much House Can I Realistically Afford? By Eric Lawrence Frazier, MBA In an age where housing prices soar beyond reach for most working families, How Much House Can I Realistically Afford? Delivers a sobering yet empowering message: the dream of homeownership isn't dead-it's just changed. Eric L. Frazier, MBA, draws from decades of experience as a mortgage advisor, real estate broker, and financial educator to replace outdated rules of thumb with a modern roadmap for buying smart, building equity, and protecting financial stability in today's volatile economy. Purpose of the Book This book confronts the myths that have trapped millions of Americans-like the ""20% down"" rule and the ""28/36"" affordability formula-and redefines what realistic homeownership means in 2025. It's designed to help first-time buyers, families, and investors: Understand their true buying power and debt-to-income ratio in a high-cost economy Evaluate whether buying, renting, or waiting is the smartest financial move Identify creative paths to ownership, including down payment assistance, co-buying, and house hacking Prepare for hidden costs that derail most buyers-insurance, taxes, maintenance, and opportunity costs Key Insights Old rules no longer apply: Incomes have stagnated while home prices have multiplied 5-8× faster. The ""affordable home"" formula must be rewritten. Affordability is local: A $500K home in Dallas isn't the same as a $500K home in San Francisco. Frazier introduces ""Regional Multipliers"" to correct national myths. Wealth, not walls: Homeownership is a means to wealth, not the definition of it. Frazier helps readers think strategically-own when it adds value, rent when it preserves capital. Mindset matters: The book reframes ownership as stewardship-reminding readers that buying a home is not about ego or image but about purpose, preparedness, and long-term peace of mind. Target Audience First-time and next-time homebuyers Renters weighing the cost-benefit of ownership Financial coaches, housing counselors, and educators Lenders, agents, and policymakers seeking to understand the new affordability crisis Eric Lawrence Frazier, MBA, is a mortgage advisor, real estate broker, and President & CEO of The Power Is Now Media. He has educated thousands through television, radio, and digital media about homeownership, credit, and financial literacy. His message blends economic insight with moral conviction: ""The power is now-in your mind, your math, and your management.""

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9781949722239

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