The place next door just got rebuilt as a fourplex, each unit of which is going for 1.6 million dollars. The mortgage would be $8k/month. I and my partner have no kids, no car, and both have solid incomes in union jobs. Our current rent is a hair under $1k/mo because we've been in this place awhile.
That mortgage plus taxes, utilities, would still be almost all our income. It's ridiculous.