Not only that, but also consider the fact that you are paying 1.4M for a house that was likely built in the 60s, is not up to date at all, and has a perpetual tax liability of at least 15-18k per year (further raises in taxes are much more likely than not). The mortgage would also not be sustainable if one earner lost their job (or if the high-earner lost theirs), and remember that this high mortgage payment needs to be paid every month for 360 months. All of these are solid arguments against buying even if you did have the down payment.