Jon Sibok wants his family to have a home of their own someday, but achieving that goal feels like an uphill battle. Despite their combined income of $110,000, the couple struggles to find a house within their budget in Colorado. The median home price in Commerce City is about $537,000, far exceeding their ideal limit of $400,000, which has left them feeling financially constrained. Rising living costs only add to their challenges in saving for a down payment.
'With the cost of living in Colorado, it's been difficult to make significant progress,' Sibok said, adding, 'I don't want to put myself in a difficult financial situation. I have a stable job and income, but it wouldn't be enough to cover the mortgage.' He indicated that the tight housing market means it may take several years before they feel ready for homeownership due to soaring prices and high mortgage rates.
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