We retired and wanted to downsize to a smaller condo but prices have gone crazy - are we stuck in our house?

A retired Reddit user finds himself unable to move due to soaring real estate prices. Planning to sell his larger home to buy a condo after his spouse retires, he discovers that condo prices are significantly higher than he anticipated, creating a gap of about $400K. With high mortgage rates and costs uncertain, he feels stuck and questions whether moving is viable. Seeking guidance, he learns the importance of assessing total costs of ownership and the potential financial burdens involved in such a transition.

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The OP feels stuck in his home and believes that it will never make financial sense to try to trade out of their current property.

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