re: Bad idea to buy a new house right now?

quote:

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I mean we can make our current house work well for another 5 or so years, but as the kids get older, we’d like a little more room. The house we are looking at checks all our long term boxes.

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Wait.

Prices are starting to come down and interest rates are going up. Since you can stick it out for a few more years, do so.

The Fed still has at least another .5 in increases left this year and have mentioned another .5 is likely next year. Housing prices are likely to continue dropping at least until next year.

Once the Fed has inflation under some sort of control, they'll likely revisit lowering rates to spur economic activity (if it's needed). Hold out for that (so, at the soonest it MIGHT be late 2023 but probably slightly more likely in 2024, depending on the economy of course).