Homeownership has become increasingly burdensome due to rising property taxes, insurance premiums, and maintenance costs. Homebuyers struggle with managing expenses despite homes appreciating in value. A majority of homeowners feel financially stressed, with significant concerns about rising costs. Generational differences impact stress levels, with millennials more affected by mortgage pressures while baby boomers face challenges from maintenance costs. A considerable number of homeowners indicate that housing costs outpace their income growth, leading to delays in other financial priorities, underscoring the financial stress linked to homeownership.
The financial realities of homeownership have shifted dramatically as rising property taxes, insurance, and maintenance costs strain homebuyer budgets, making it more difficult to manage finances.
More than half of homeowners (54.5%) report feeling moderately to extremely financially stressed, largely due to rising homeownership costs which are now their top financial concern.
Generational divides affect stress levels; millennials are significantly more affected by mortgage payments as a top source of stress compared to older generations.
A large share of homeowners (79.5%) believe housing costs are rising faster than their incomes, delaying their ability to prioritize other financial goals.
Collection
[
|
...
]