Want to hear something scary? My fiance and I together owe over $120,000 in school loan debt, and we haven't even come close to entering the collapsing housing market yet.

So if we were to buy a house here in Massachusetts, where it's unlikely we'd find even a fixer-upper for less than $200,000 any reasonable distance from our jobs, we're likely looking at over $300,000 in debt to start our lives together. Together, we bring in about $83,000 a year (which sounds like so much to me), so we'd owe over 3.5 times what we make in a year. That's not to mention any credit card or auto debt. No wonder we're scared to buy a house, even though we're pitching money down the toilet in rent. And children? Forget it. Can't afford them.

Read more on the FRINGE BLOG.