Today's Homeowners Worry About Rising Payments

WASHINGTON (June 27, 2006) – One out of three Americans worries that rising monthly payments – especially property taxes and energy costs – will force them to sell their home and buy a less expensive one, according to the fourth annual National Housing Opportunity Pulse, a survey released today by the National Association of Realtors®.

The survey also found that, by a 2-to-1 margin, Americans believe that high monthly payments rather than high down payments are the greatest obstacle to buying a home. Rising property taxes are the leading concern associated with owning a home (34 percent), followed by increasing electrical, fuel and other energy costs (28 percent). Only 14 percent said rising mortgage interest rates would keep them from becoming homeowners.

“It’s clear America is facing a crisis in housing opportunities with nearly two-thirds of families concerned about being able to find a home they both like and can afford,” said Thomas M. Stevens, 2006 NAR president from Vienna, Va., and senior vice president of NRT Inc. “Many families are struggling to meet the high cost of homeownership, and increasingly those costs are property taxes and energy utilities.”

Read more at http://tinyurl.com/m4chq

Source: National Association of Realtors

Here in our Bradenton - Sarasota, Florida market housing affordability is a big issue. Homeowners are enjoying record appreciation rates, but first-time buyers are finding it difficult to afford a home.