Core Insights - The 27-year-old Canadian is facing a financial decision between paying off debt and saving for a house, with CA$1,500 in savings, CA$11,000 in credit card debt at 12% APR, and a CA$4,000 car loan at 7.99% APR [1][3] Debt Management - Reddit users strongly advised prioritizing debt repayment, particularly the high-interest credit card debt, to avoid accumulating more interest [2][3] - The credit card debt has a significantly higher APR compared to the auto loan, making it more critical to pay off first to minimize interest accumulation [3] Financial Strategy - Commenters suggested that the individual should not start saving for a house until the debt is managed, as the 12% interest on the credit card debt exceeds average market growth [4] - Reducing expenses and potentially taking on a side gig were recommended as strategies to accelerate debt repayment [4][5] Side Income Opportunities - The individual is already engaged in freelancing, earning an additional CA$1,000 per month, which can aid in paying off debt [5] - Side gigs can be temporary solutions until the debt is cleared, with some individuals transitioning them into full-time work [6] Future Home Purchase - After clearing the credit card and auto loan debts, the individual will still need time to save for a home, especially considering the typical requirement of a 20% down payment [7]

Mortgage Market - The time to make an offer on a home might be now, considering the latest mortgage rates [1]

Financial Anxiety - A millennial planned and saved diligently to purchase her first home, yet experiences intense financial anxiety [1] Homeownership - The report highlights the paradox of achieving a significant financial goal like homeownership while still facing financial anxiety [1]

Financial Anxiety - A millennial planned and saved diligently to purchase her first home [1] - Despite achieving this financial goal, the individual experiences intense financial anxiety [1] Homeownership - The report focuses on the emotional and psychological aspects of homeownership, specifically financial anxiety [1]

Market Trends & Challenges - Skyrocketing home insurance costs are making buying harder [1] - Increased insurance costs disproportionately affect first-time buyers [1] Financial Impact - Rising insurance costs are making home buying more expensive for everyone [1]

Skyrocketing home insurance costs are making buying harder and more expensive for everyone, especially first-time buyers. https://t.co/oU7lzIPfJJ https://t.co/oU7lzIPfJJ ...

Market Trends & Challenges - Skyrocketing home insurance costs are making buying harder and more expensive [1] - The increased insurance costs particularly impact first-time buyers [1]

Home buyers are paying millions to experience the “fairy tale” of Forest Hills. We went to the New York City neighborhood to check it out.Read more: https://t.co/ocETYJQAYJ https://t.co/PQqIw9lG4w ...

Housing Market Trends - Gen Z is finding resourceful ways to buy homes despite high interest rates and housing prices [1]

Buying a home in America's largest metros would require more than 30% of the median income. https://t.co/x1gjjAvTAV ...