I think the conversation drastically changes once you have kids. Double income no kids? By all means ditch the car and rent a small condo and throw the extra cash into travel/investments/etc. Otherwise:
1 kid = 2 BR condo / small inner city house and sedan is doable.
2 kids = see above
3 kids = minivan time. Also, the allure of a big house will pull you to the 'burbs, but there are other options available if you're flexible on age/size/features.
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