The US housing market has become increasingly unaffordable for many homeowners, leading to financial strain and difficult decisions. A growing number of Americans are finding it hard to pay their home insurance premiums, repair their properties, or manage mortgage payments due to rising interest rates.
Some homeowners have resorted to borrowing money from credit cards or taking out smaller loans to cover expenses. Others have made significant sacrifices, such as reducing living space by letting part of the house become uninhabitable.
Despite these measures, many are considering selling their homes to alleviate financial pressure. The high cost of homeownership is leaving some without a viable alternative and forcing them to reevaluate their housing choices. As the situation continues to worsen, it remains to be seen how this will affect the broader US economy and the nation’s housing market.
Source: https://www.theguardian.com/money/2025/jan/29/us-homeowners-tell-us-how-you-are-coping-with-the-rising-costs-of-owning-your-home