Homeowners can’t afford to move with higher mortgage rates 

"I want 4-5 bedrooms with a finished basement" And I want 12-15 bedrooms and with a Pacific ocean view"......... but Im pretty thats not gonna happen cuz I cant afford it!!! Live within your means people!!! Geeeees!

“4-5 bedrooms” is when I stopped caring about anything these people had to say and why I don’t feel sorry for so many people who bought way more house than they ever needed and now realize they don’t need all that space and can’t afford it. Americans are having less babies than ever yet everybody wants big homes? It’s all backwards.

They're the lucky ones... they own a home already.

Wait. Want bigger nicer house. But can’t afford extra $500 per month ? Don’t think they could afford that home with their current mortgage rate.

It's not just mortgage rates....the selling prices of houses are insane. I'm not sure why people are paying 50-100k over what the house is actually worth. Seems like a dumb move, you'll never recoup that money. I am a first time home-buyer and I've had to stay with my parents because that is happening to every house in my area, it's insane. I see 1100 sq ft ranch homes go for close to 300k.

They are keeping up with the Joneses. I really don't see it necessary for them to upgrade. They have a home at a good rate.

With all due respect, if this couple couldn’t afford the house they have with a higher interest rate, than moving up to a much larger property is “pie in the sky” at best! These folks should be HAPPY higher interest rates are here as it appears to be keeping them from doing something stupid! Sometimes it’s better to be lucky than good…….😂

Buying a house has sucked since 2019 and it’s only gotten worse. What’s normal about home prices increasing by 40% over 48 months?

First world problems "my mortgage payment and interest rate are so low; it is keeping us from having more bedrooms." And they frame it like it's a sad story and how it represents the struggles of Americans.

Why they need 5 bedroom and a basement? 😂 I don’t get it

Why need and I quote "need" 4 to 5 bedrooms???? Thats insane. You have a perfectly good home

Not moving anywhere for the next 30 years😅! I locked in at 2.8%

As I watch from the side line thinking. How lucky they are to have a house. 😐. Right when I had just enough funds houses and interest both shot up. Now I got to save more but guess what. Rent a lot went up 😑. FML.

Headline: "Homeowners can't afford to move with higher mortgage rates". Oh bulls--t NBC. The mortgage rates we have right now are on par with the ones that we had in the 1990s and are still better than the ones from the 1980's. What's changed is that our real estate market back then didn't look like the late stages of a Monopoly game. Force some of these corporate behemoth landlords to unload some of their single family homes, and give incentives for developers to start building tracts of PRACTICAL starter homes instead of these 3000 sq ft monstrosities, and mandate that only owner occupants can own them for the first decade they exist.

It’s not the rate. It’s the cost of the home. Home prices are way to much. Bigger home, ha! We all what we can’t have.

why such a big home just do their kids can live in luxury and never move out

They already have a home what about the millions of first time homebuyers who can’t earn equity and can’t start their life they have a baby I can’t do that in an apartment

Thankful for my home. I ain’t going nowhere 🤘🏿

4-5 bedrooms for 3 people? American greed thats all. Can't have pity for those type of people. Also, there seems to be no shortage of homes in Texas. Perfect for first time home buyers. Only thing is, the interest rates, so then you're back where you started.

You want all that space, but you don’t need it.

why need a 4br? and buy when u cannot afford. I dunno why americans have this kind of big house mentality? they got lucky having that low rate,

The counter to high interest rates is supposed to be lower sale prices. Even a double digit rate is affordable if the home is only 2 or 3 times your annual income. So much for supply and demand.

Greed at on all levels of society. Unsatisfied homeowners selling for unnecessary reasons is the reason for the shortage. Nevermind that they are buying a lesser quality, overpriced home at that.! Foolish.

Why are people still buying? Crazy world we’re in

Rates need to stay at least 7% for at least 5 years or more. Only then will home prices really start to go down to balance out the high rates.

They are already homeowners in this economy and they just want upgrade.. want not need. FFS, 3 bedroom 1 bath house not cutting it for family of 3.

Ok so they wanna buy a bigger house with more bedrooms then family members I’ll be looking for the follow up story how there house poor and will blame everyone but themselves 🤦🏻‍♂️

Everyone is underwater on their overpriced car loans as well when the prices were high.

Its not rates its the selling price thats stopping people from buying.

I bought my house @4.50 back in 2019 I need to move I want to moved because of my neighbor but I'm stuck the intrest rate the way it at I can't afford another house I am so miserable every time I go home from work.

What, they are stuck. Im not, my family we have a 4 bedroom/3bath/plus game room we added with oversized garage. Our rates are still at 2.99%. They have a nice place.

What high interest rate, I bought my first home in 1990 at 8.5% and that was considered low

Don’t do it. Be frugal

When current home owners start losing their jobs. You can no longer make your mortgage payment no matter what interest-rate you purchase it at. Everyone also has two automobile payments at $1500 a month each plus insurance. higher electric bill payments. Higher fuel costs for your two automobiles. Higher groceries for all of your family. Reality comes quickly from all directions.

I'd say the house they are in is just fine. Stick with that puppy, even if it's a bit tight. Maybe they could add-on a bedroom or something ? Or, heck. Buy my house !!!! I'm the one who is stuck, but I'm a Happy Camper. Refi'd into a 10-year loan at 1.875% in June-2021. I now have just under 8 years left, and yeah, payments are high but manageable. I'm downsizing since all the kids are out of college. Buy my house ! It's ~ $725k and in "Warner Ranch" in South Tempe (suburb of Phoenix). I'd LOVE to take what would be $525k in equity and purchase a smaller home for cash, with a tad 'o cash leftover. My long-term GF is in pretty much the same position with her house. Our plan is to sell both and buy a joint home. We'd each have a couple hundred $k leftover. Loving it re: two separate homes during the price run-up.

I have the same interest & the same mixed feelings.

Remodel or add on.

Been wanting to refinance my house for a lower mortgage than what i pay which is close to $1400 but until these interest rates lower ill stick with my $1400 a month 😂

People keep blaming higher mortgage rates but they could also LOWER the asking price for homes as well.

This whole situation is creating a major wealth disparity in the US. American dream is dead. Fed kept on buying the mortgage securities though it was not required. Builders kept on maintaining the inventory low. Banks and lenders provided free money at a fixed low interest rate for 30 years. All the home owners are happy with their mortgage rates and are not Willing to sell their homes. Who is responsible for this situation? You can’t blame the builders because they do business for profits, you can’t blame the home owners because they just used the opportunity provided to them. Banks are some what to blame, in this country, they do operate for profits but they do have responsibility for the public and strengthen the country, they are lets say 25% responsible. The major culprit was fed who kept on buying the mortgage backed securities though not needed. Fed was so irresponsible. Government was and is as usual useless, blind, and sleepy. Absolutely no one to save the new buyers and no one to resolve this problem. This problem was unnecessarily created by the fed, lenders, and home builders.

4 to 5 bedrooms for a family of three? If they want a large family someday and can afford to move up in house, yeah OK, but they don't need it now. My dad grew up in a house with three bedrooms and ONE bathroom for five children and two parents. They made it work.

At least they have a house. There are families with more kids than them living in apartments. But they want 4 to 5 bedrooms with a finished basement? Lol okay.

When my parents bought our home we stayed there from when I was in 1st grade through the middle of my Senior year when I moved out. My mom lived there until she died there, in my old bedroom. When we moved into that house it was a 3 bed one bath. We added 2 bedrooms and a bath as our family grew. We didn't move to a bigger house, we were settled, we had history in that house. friends in schools/church. The problem today is how people see a house as an investment not as a HOME. So they are constantly trying to keep up with the Jones's on TV. All those giant 2 story wannabe McMansions built butt to butt in a culdsac of look alike boxes with no fenced yards or privacy. All because of Home Improvement and Extreme Home Makeover shows. I bought my first home in my 40's, for cash. I'm nevermoving at almost 70 I'' be in the same house, in Hawaii until I die here. I'd NEVER move. Unless the lava comes, and I have a spare house on wheels I built in the garage just in case. It could be because we had 8 kids and built onto our house as a kid I learn all my building skills BEFORE I was in HS. Woodshop in Jr.HS was remedial. Moral of the story? Live within your means, SAVE, don't loan to own. Save, don't borrow. Borrowing is a suckers game, loan sharks work in banks too. USURY % is a jewish invention to hold back the Goy. I use no credit, I have no debt, no mortage, no bills. So I speak from experience. Think about building a house. I built my first one when I was 19, by myself.

Wait.. I saw 1 toddler. Where is the family for the 4-5 bedroom? Don’t tell me this is Americanism.. we are a sad case. Let me start the video over, must have missed something. Brb.

A higher Mortgage Rate is OK but Higher prices dollars 200 more than 3 years ago are the key problem because with a higher rate, I can refinance later

BS! 3% requires $4.22 per thousand on a 30 year fixed rate. The problem isn't a 3% increase in mortgage rates it is the artificial inflated value, that's a dream come true for builders, landlords and Realtors, all basing their earnings from the market values. Purchases by corporate buyers have also inflated values, raising rents increases the value of a home as an investment. There lies the problem. Solution; stop paying inflated values, if you must have more room, consider an addition with a home equity loan or refinance a much smaller principle amount.

We call it as renewed investments on backchain of right resources' exploration. As the Asset resale needs to find its place out of Asset Bubbles. This would give right impetus for reindustrialization and restructuring of American Economy. The Industry would spread across all of States more or less from Coast to Coast because of availability of Human Capital.

They can just build more rooms at their house, its cheaper and looks like they have the space. Also my "Starter home" has 5bdr because we knew we would have kids, and i need an office. totally worth it to anticipate your needs.

OUR HOME BURNT DOWN TWO YEARS AGO AND WE INHERITED AN OLDER HOUSE AND I HAVE BEEN FIXING IT UP AND SPENT ABOUT TWENTY THOUSAND DOLLARS ON IT SOFAR.BUT THANK GOD IT IS PAID OFF. 🎉IF PEOPLE COULD BUY OLDER HOUSE AND REPAIR THEM AND SAVE A LOT OF MONEY.

Cry me a river. I pay 1500 on RENT.

What is this story that has been run re-run, re-re-run, it's like there is no news nowadays

buying a home with out the cash todo so only a fool would do that

Dag.

Kid looking at $400K houses... fml

People want to much 😅

Lol you cant aford to move 😢 Even illegal immigrants are moving

This means either prices are going to continue their downward trends MORE intensely, or there's going to be hundred of thousands unemployed realtors. Many with college loan repayments starting back up in October. Deal with it.

Live within your means. Add a room, like we did. They need to stay and save.

thanks biden

buy a sail boat

we need to send more money to ukraine