Real Madrid has the budget but they ran out of their main options, Mbappe mainly and Haaland also.
You are right. Real Madrid already failed to sign their main targets, Mbappe & Haaland. Man City signed Haaland because Haaland's father ever played as a Man City player, City got an advantage of his father's history. While Mbappe decided to stay because Mbappe wants to play more in France and was interested in the big money offered by PSG management. Honestly, Real Madrid is very unlucky, they failed because of personal reasons that influenced those players' decisions. The latest news, Real Madrid wants to sign Lewandowski from Bayern. This may be the final target and probably fails also because Bayern doesn't want to lose their main striker. Too bad transfer season for Real madrid...
Real Madrid already have a striker that is very good,scoring goals on regular basis for them,except they are looking for a more younger striker,that will have a future with the club,but I can say that Karim Benzema is very good,and he has no intention of leaving the club despite other club wanting his services.Haaland chose Mancity because he feels there are so many players that can give him assists,and make him score more goals.