The growing reason people can't afford to own a home

Sat, 04/20/2024 - 05:07

Homeownership is becoming less attainable because of high mortgage rates and insurance costs.
The climate crisis is triggering insurance price hikes, as insurers anticipate more damage payouts.
Some Americans are opting for rentals or to relocate due to the high costs of owning a home.

Aspiring homeowners might be out of luck this year — and high mortgage rates are only part of the problem.