re: Anyone else probably stuck in their current house forever?

Depends on how far out you would need to move for a cheaper house.

If you can move further out into the country where land isn't scarce, you could get a lower price to offset the higher interest rate.

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getting stuck with low rates and huge equity gains is a wonderful problem.

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Correct. As someone in the market, I'm shaking my head at some of these replies. What a wonderful problem to have.

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Kinda feel like right now.

I got a fairly significant raise in 2021, plus the equity that I have in my house (12 years) had us primed to upgrade to something with land, but now with interests rates, our buying power got hit so hard.

We like our house and its certainly nice enough and big enough to continue raising our family for the rest of our lives, but we were looking to get out of the city.

Just doesn't seem feasible right now.

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We want to move in 2 years. Our current house is 2.375%. We have over 60% equity in it though and we want to downsize for our next house. We'll be empty nesters.

My hope is that we can still buy what we are looking for, put a substantial downpayment down and pay it off in 10-15 years. I think that's still feasible for us with 6-7% rates.

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I still say you should size the equity for the minimum you can still easily afford the payment. The goal should be to have the biggest loan possible for as long as possible.

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If we move in 2 years I'll be 47. My wife is 4 years older than me. We don't want to carry a mortgage into retirement.

Our current plan is to go from a 4/2.5 BR that's 2500 sq ft down to something more along the lines of 3/2 1700 sq ft. Hopefully we can pay the bulk of it from selling this house.

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Just to keep expenses low. Our lifestyle will most likely be pretty reasonable in retirement. It would be nice to no longer have our largest bill though. We've been homeowners for 18 years now.

I think it's an attainable goal for us to be done paying mortgages by my late 50s/early 60s even if we move one more time.

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I understand the impulse, but as an investor, it just kills me that it's dead money.

Because the house appreciated, you should have the equity to be able to buy something better along with money you make from working.

The undercurrent of this thread is that the housing market is structurally screwed up going forward. It’s not a healthy market when there is such a meaningful portion of the marketplace that won’t participate in commerce because of the rate on a long term asset.

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The undercurrent of this thread is that the housing market is structurally screwed up going forward. It’s not a healthy market when there is such a meaningful portion of the marketplace that won’t participate in commerce because of the rate on a long term asset.

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Eh, more like some are fixated on their current situation and apparently never had to buy homes with mortgage rates at 8 to 10%. I do feel sorry for 1st time buyers, more about current SFR valuations than rates. My wife and I are retired and have 62 months left @ 1.625% on a 7/30 ARM with a cap of 5.75%, been in this house in Santa Fe for less than 3 years and put down ~ 55% at time of purchase . Met with our realtor for lunch Monday and he said we could likely sell for $280k over what we paid for it ($60k was due to improvements), and fortunately Santa Fe county has it valued significantly below that and we pay ~ $4,200 in annual property taxes. We are still years from SSI, etc and won't be surprised if we don't move again within 5 years.

Texans never speak about how distorted their property tax rates are compared to many "southern" states and lack of flexibility for retirees in that respect.