^^That's great, Sword Guy^^, but if you live where housing is more expensive, you just don't have those kind of options. [Dicey waves to ysette9.]
*Sidebar Rant Alert*
Not harshing on you specifically, SG, but comments like this frustrate the shit out of me. When I was starting out, despite having a year's salary in the bank, I could afford nothing in the city where my job was, so I bought a rental in the cheaper place where I grew up. It still cost 3.5x my salary. Eight years later, my income had increased, and I found a deal on a tiny condo that was a short sale during a market dip, so I bought it, moved in, and sold the rental for a very small profit. The tiny condo cost roughly half my take home pay, but I made it work. Four years later, I needed more space, so I sold it for more than double what I paid and bought something that cost about 5-6x my salary. It was bigger, so I had space for a roommate and I made it work once again.
When DH and I got married, we each had our own homes and were happily planning on living in one and renting the other. Until his dad died, and we realized his mom had ALZ. Our houses were two story with no downstairs bedrooms. I retired, we sold both houses and bought a suitable house on a short sale. Here's the kicker: the new house cost 10x DH's salary. Fortunately, our houses had appreciated so much that we were able to buy the new house with no mortgage.
The point is that if you're frugal (i.e. mustachian), and you want to own property, you can still figure out a way, even in a HCOLA. You may have to "overspend", but you can do it. It's just a lot harder than it is in cheaper places with a plethora of affordable options.
/End sidebar rant