Why do people who bought their house before the housing bubble say they can’t afford to buy a new house? /u/somethingreddity No such thing as stupid questions

I forgot the term they use, but couldn’t they sell and make a large profit and be able to afford another house? Or is it because of property values and interest that they can’t? I’d think someone making a decent profit off their house could set it to the side and still afford a new house, right? What am I missing? I’m sure it’s obvious I don’t own a home (yet).

I forgot the term they use, but couldn’t they sell and make a large profit and be able to afford another house? Or is it because of property values and interest that they can’t? I’d think someone making a decent profit off their house could set it to the side and still afford a new house, right? What am I missing? I’m sure it’s obvious I don’t own a home (yet).