My wife and I have $750,000 in savings and earn over $144,000 a year. Can we afford to spend $5,000 per month on housing?

Dear MarketWatch,

Financial advisers recommend spending no more than 30% of take-home pay on housing. I have always lived by this rule and now have $750,000 in cash savings. But now I need to make a big move. Is there ever exceptions to this that make good sense?

My wife and I just found out that we are pregnant with our second child. We want to move closer to be with family for childcare support because our oldest is still 22 months old and can’t be put in daycare for medical reasons.

We…