Reply to Americans locked into lower mortgage rates have been increasingly unwilling to sell their homes.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]I don’t understand the mindset of living in a house you don’t want anymore just because you got a good deal on it. [/b] Eventually housing prices will have to come down because as has been pointed out here, higher interest rates puts many houses out of reach for a lot of potential homebuyers.  And of course renting is still an option.[/quote]

Really? We can’t afford anything better.  What’s so hard to understand?  And honestly my parents became house poor when they upgraded to a bigger house, so that experience has stayed with me somewhat.[/quote]

Well we moved out of the area and rent something we like now 🤷🏻‍♀️. You always have options.[/quote]

How does that make sense?[/quote]

It makes sense because you are not actually obligated to own a house.  You are not obligated to live forever in a certain area.  If you are deeply unhappy with your home but cannot afford anything better in your area, don’t resign yourself to keeping it forever just because you like your GD mortgage rate!

You can always move!  Or rent!  Or both!!

Or just stay and be miserable, if that’s what floats your boat.[/quote]

You’re paying a big premium for the flexibility of renting.

And, you’re still paying the high cost of financing.  Just not directly.[/quote]

Most people who buy end up moving anyway, getting killed on transaction fees and not making enough on appreciation to make up for it.  [/quote]

+1. Making your current house work better for your family often makes more sense. [/quote]

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