Lyric discussion by Burton8219 

Cover art for Step lyrics by Vampire Weekend

The song is about Ezra finally being able to settle down after not being able to do so when the girl referenced in this song was ready to. They were dating and she was ready to be a serious couple and Ezra wasn't ready to do this. He wasn't ready to do this, but now he is, but this girl is unavailable to him now ("Maybe she's gone, and I can't resurrect her"). He missed his shot.

The song is a plea to the girl to take him back since he's now ready to give her what she wanted... The chorus is most telling of this for me, at least.

"Gloves are off, the wisdom teeth are out": He's done fighting her requests for him to grow up and settle down with her... He's gotten smarter and realized the mistake he made.

"I'm stronger now, I'm ready for the house Such a modest mouse I can't do it alone, I can't do it alone": Same thinking... He's grown up and he's ready to be your typical American couple (house, kids, etc.). He's realized how he was stupid for not giving her what she needed at the time and it has really humbled him (and possibly fucked him up relationship-wise). He now shares the same feelings that this girl had... He wants the house and the car, but he obviously needs someone to reciprocate in order to do this.

Just some thoughts... Knowing Ezra, it could be something totally different.

My Interpretation

I believe "I'm stronger now, I'm ready for the house" is a reference to the debut album "Ready for the House" by outsider / avant artist Jandek who was also a recluse, until recently in 2004 when he began playing live - 26 years after he self-released that album.

'The wisdom teeth are out' could be a reference to acknowledging he was wrong and doesn't know everything after all.

Your analysis fits in with his reference to Jandek coming out of hiding or becoming ready for something.