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The Hidden Costs of Homeownership Are Skyrocketing

Posted on AllSides April 11th, 2024
From The Center
Housing and Homelessness, Homeowners Insurance, Property Taxes

Darren Gondry has owned his four-bedroom home near a golf course in Louisville, Ky., since 2004. He and his wife, Lori Gondry, paid off their primary mortgage in 2021. 

That hasn’t stopped other bills associated with homeownership from piling up. Their home insurance costs have risen 63% in two years. Their property taxes, utility costs and homeowners’ association fees have risen in recent years, too. 

“I was so sticker-shocked,” Gondry said of the mounting home-cost increases. “I fear they’re here to stay.”

Homeownership affordability fell to its lowest level since...

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