Depends on your net worth. A lot of people earn $100k a year and are flat broke.
Depends where you live. My last rent in SoCal was $3400/mo for a decent townhome. Fortunately wifey and I do very well, but for many, paying over $40K/yr for housing would be prohibitive.
Now we are in the Central Valley, in a huge house, for much less, on even higher income. Definitely feel wealthier in this situation.
Ding, ding, ding - we have a thread winnah!