Believe it or not, the information uncovered by real estate experts gets even worse. Clever also discovered that 82% of new homeowners struggle with regret. They ultimately feel that reaching the milestone of owning a home didn’t make them happier.
Of course, the warning signs were there all along. Many of today’s newest homebuyers ended up accepting mortgages with interest rates higher than they planned for. In the absence of financial stability, this can easily put a strain on anyone’s wallet.
Americans’ finances aren’t likely to change anytime soon
As everyday folks struggle to keep up with their mortgages, the costs of living aren’t going down. Though with the retail and restaurant industries significantly cutting back on staffers and operations, more folks seeing the income they rely upon gradually disappear.
In order for new homebuyers to keep up with mortgages and reap their benefits of ownership, they need financial security. Unfortunately, the rise of inflation directly impacts interest rates, creating a vicious cycle for Americans who are barely getting by.
