So what does the average American with average credit do when their family requires 2 cars and a home in the current economy? I see you've got it figured out so please do tell.

Well, the median home price in my city is $529k. In my immediate area, in a less expensive neighborhood, I could get a smaller house for 400-425k. At current rates over 3x what mine is, it'd still be more expensive, considerably.

Even if we rented, I'd still be paying $2500 or more.

The cars are 2019 and 2017. Where you can get 2 new cars for 25k each (one of which that fits 6 people) is beyond me.

Having $3k CC debt is less than 1/2 the American average.

I'm not sure that's really an option either with current rates. Our $510k mortgage has a payment of $2500 including tax/insurance.

Even if we downsized to a $300k house at current rates (7%ish), the loan calculator says our payment would be somewhere in the ballpark of $2300. A $200 difference.

Even if it were $500/mo difference, it still doesn't seem worth giving up our property (which we love) for $500/mo considering we'd be getting into something worth $300-350k and getting of something worth $625k.

Probably not. The repairs are likely going to be in the $8-10k range. It needs to be re-surfaced because it is leaking, and I don't know what type of other larger issue that may cause in the future if I sit on it. Another $2k or so for the trees to be removed which are close to the pool plumbing.

Besides the house we have:

2 car loans ($50k combined)

CC Debt ($3k)

We also owe the IRS about $2k this year.

So around $55k total debt outside of the home loan.

Thank you!

Thanks.

Well, I'm 33 years old with 4 kids on a single income. A "beefy" emergency fund isn't really in the cards for the foreseeable future.