Homebuyers Going Old School

This article from Yahoo Finance just shows the sad effects of living beyond your means. It discusses how some homeowners were spending half their monthly income on housing, but now must cut back to the old adage of spending 30% of your income on housing.

http://finance.yahoo.com/loans/article/106785/With-Eyes-Bigger-Than-Their-Wallets-Homebuyers-Are-Forced-to-Revisit-Old-Rules