The rising price of a house you own means very little if everything is going up - plus throw in inflation, interest rate, and taxes. If you move now, you are going to pay more unless you significantly downsize.
I think downsizing was always part of the original calculus.
The advice I’ve always heard was get a starter house, once you’ve got enough invested and more income upgrade, eventually downgrading to a bungalow which helps pay for your end of life.
However, bungalows are going for way more than other house types because of all the simultaneous demand.
