Housing in the NE isn't amazing, but it's dramatically better than the bay area. You need to make 225+ (300 realistically) in the bay area to be a home owner, and even then you're living in a marginal area with a lot of compromises
At this point in the housing market, buying makes no sense. I wish people would stop pushing the "American dream" of NEEDING to own a home. Homeownership is not a necessity, it is a luxury.
This American dream philosophy has caused very unfair policies where people who make $60k qualify for housing assistance and can buy houses for 0 down because the govt pays for some of their down payment[0].
If I can't enjoy the luxury of owning a home, why do my tax dollars pay for that luxury for those who earn less? I'm not anti socialism at all, either. I'm just stating that home ownership is a luxury in this day and age. Pay for people to live somewhere, yes. Provide them with mental health care, yes. I don't mind my tax dollars being used for those necessities. Helping with home ownership? In a market that already has fierce competition and low inventory? It's ridiculous.
[0] https://abc7.com/amp/california-housing-finance-agency-down-...
Also, the higher the pay, the rarer the source of income, and so lower probability of replacing your income if you lose your job. That means you might want to put down more than 20% to ensure your monthly mortgage payment is still possible even if your income drops by 30% to 50%. Such as if the wife has pregnancy complications and cannot work, etc.