Posted 3/3/2024, 4:42:00 PM
Housing Market Leaves Family's Dream Home Plans in Ruins
- Sold home in 2021 for $296,600, wanted to use proceeds to build dream home but rising rates/prices made it unaffordable
- Now living with parents and saving every dollar, but still can't afford a large enough home for blended family
- Sold home going into foreclosure, but now out of price range
- Went from achieving American dream of homeownership to having it slip away due to market conditions
- Advice is to view this as a chapter, save aggressively, hope rates fall so can buy again, and compromise on size/type of next home