[usconservative]

It appears to me investment groups are buying homes and forcing up prices driving owners out of the market.

I can tell you for fact that's happening here in HELLINOIS.

I make over $200k/year and at 60 years old I'm effectively priced out of the small to mid-sized home market. Everything that's 1500SF, 3BR, 1.5ba ranch home is approaching $400k. It's ridiculous.

I'm making the decision to stay in the townhome I purchased just over 4 years ago for $220k that's actually LARGER than what I'm looking to buy. Physical issues are pushing me towards single level living which my townhome is not. I'm going to have to find a way to make this work until prices come down and interest rates go up so I can be a cash buyer again.

[ScottinVA]

In what part of Illinois do you live?

[alexander_busek]

I make over $200k/year and at 60 years old I'm effectively priced out of the small to mid-sized home market. Everything that's 1500SF, 3BR, 1.5ba ranch home is approaching $400k. It's ridiculous. I'm making the decision to stay in the townhome I purchased just over 4 years ago for $220k [...]

No, you're not!

If you have an annual salary of $200k and own your townhouse, you are "eminently lendable" and have all the resources you need to purchase a house for, say, half a million dollars.

If you insist upon paying cash (but why?!), you should still be considered to be a highly qualified customer.

Regards,