Do you believe in the 28% rule?

When I started this thread in 2017, 28.7% of my gross income went towards my mortgage. The lenders and financial experts would have me believe that was ok, given the 28/36 rule. A maximum of 28% of gross income towards mortgage they say. Here’s the thing. Reaching the max on that rule means you have barely anything left, if you like spending cash like I do. Sure if you spend 28% on the house and have a tight budget and budget properly then you’ll be alright. But if you spend 28% and don’t budget you’re guaranteed paycheck to paycheck living. Enjoy that shit if that’s your plan. Live it up.

I decided that didn’t work for me and downsized. Now, 17.8% of my gross income goes towards mortgage+HOA. Now I have plenty leftover for fun shit.