Reply to What is it like to be “house poor”?

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Reply to "What is it like to be “house poor”?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]No eating out. No vacations. No activities for your kids. No splurges. No new clothes. No going to the movies. No replacing things that get broken that aren't necessities. No upgrading phones. No streaming services.
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This is how I grew up.  Nice house.  Nothing else.  It also means extreme stress in every recession or downturn.  Even as a kid, I constantly worried that we'd end up homeless because there was no padding.  It was our really nice house or, if my dad lost his job, our car.[/quote]
OP said it would be tight for a year or so. I agree with you if it’s for several years, but I’d happily forego a year or two of vacations and extras to trade off for a house. Especially now that we’re home so much. [/quote]
It really depends how tight and why they expect it to get better.  When my parents bought they thought it would be tight temporarily, but then expected promotions and raises didnt come through.  Then there were some unexpected but necessary home and car repairs.  Then there was a drop in home values so selling wasn't an option.  Add in some minor health issues that caused some medical bills, and things got really tight.  They never dug themselves out of the decision to buy that house.[/quote]

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