Let's stay in our rabbit warren and wait for some house prices to decrease!
it's okay we'll figure something out
Oh no! We can't afford these new prices.
I agree. I know that we are hesitant, but we must make a decision soon.
These houses aren't too bad. Some are actually in our price range.
They decide to stay in the house they are in now while house prices take time to collapse. Hopefully in a few years after they decrease a little bit, they find a good home that is affordable and fits their needs.
we took too long!
We lost the house!
Unfortunately, house prices did not collapse like they had hoped. Instead, they have raised by 10% and they could've gotten a new house for half the price four years ago. They decide to look at some houses.
I'm glad we got this new house! We're doing much better!
After looking at five houses, they need a while to think about their choices to ensure they make the right one.
How did this happen?!
After discussing what they want to do over breakfast and dinner, they realize that it's too late and they lost the house because it was sold already for 10% above the asking price
They finally caught up and found a house and made an aggressive bid on a house, with almost no money down.
They now owe more on the house than it is worth. This happened because their down payment has been wiped out. They can make their payments, but the mortgage rate will reset.