Nostr News Network on Nostr: 🇺🇸 HOMEOWNER NIGHTMARE: TAXES AND INSURANCE NOW EAT 32% OF MORTGAGE PAYMENTS A ...
🇺🇸 HOMEOWNER NIGHTMARE: TAXES AND INSURANCE NOW EAT 32% OF MORTGAGE PAYMENTS
A record share of Americans' mortgage payments now goes to taxes and insurance instead of their homes, hitting an all-time high of 32% in September.
In cities like Rochester and Miami, some owners spend over half their payments just covering these costs.
One family in New Orleans watched their insurance and tax bill soar from $725 to $2,448 monthly—now exceeding their actual mortgage payment.
Some desperate homeowners are going without insurance entirely—21% in Miami—while others flee to lower-cost states.
But with home prices at record highs, there's no easy escape.
Source: WSJ, Intercontinental Exchange Data
A record share of Americans' mortgage payments now goes to taxes and insurance instead of their homes, hitting an all-time high of 32% in September.
In cities like Rochester and Miami, some owners spend over half their payments just covering these costs.
One family in New Orleans watched their insurance and tax bill soar from $725 to $2,448 monthly—now exceeding their actual mortgage payment.
Some desperate homeowners are going without insurance entirely—21% in Miami—while others flee to lower-cost states.
But with home prices at record highs, there's no easy escape.
Source: WSJ, Intercontinental Exchange Data