My neighbors had their 3 child earlier this year, and they are now looking to move in the spring as they need more space. I got an update this week about some of the houses they have been looking at. They are at least $300k. For reference, they paid $150K for their current house in 2018 (the power of online property records). In this same conversation, it was mentioned that they were 2 days late on one of their 2 car payments, and they have pushed out a needed home repair of $800 because they don't have the money right now. I was thinking in my head "You can't afford the lifestyle you have right now, but you're looking at a house that's twice as much and interest rates are much higher than when you bought". It does not add up to me.
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