We owe $250K, pay $2K a month, and still have $100K in debt. Are we kidding ourselves by keeping the house?

Core Insights - Individual debt levels in the U.S. are rising, with 46% of the population holding credit card debt, 42.7 million with student loans, and 61.2% having mortgages, averaging around $300,000 across these debts [1] Financial Situation - Jerome and Alex owe $250,000 on their home, with monthly mortgage payments of $2,000, and have over $100,000 in additional debts including student loans, credit cards, car loans, and medical debt [2] - The couple's annual post-tax income is $70,000, but they struggle to manage their debt payments alongside the costs of raising their son, feeling behind on savings and financial emergencies [3] Potential Solutions - Jerome considers selling their home to move into a cheaper apartment, which could allow them to pay down debt, save for retirement, and fund their son's college expenses [4][7] - The couple's credit card debt stands at $20,000, with a combined $40,000 in student loans, $50,000 owed on cars, and $25,000 in medical debt, with a credit card APR of 28%, higher than the national average of 25% [6]