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Homeownership costs jumped 26% since start of pandemic: Bankrate

The average cost of homeownership has increased by 26% over the past four years to more than $18,000 annually, according to Bankrate’s newly released Hidden Costs of Homeownership study. 

The increase reflects rising home prices, which went up 40% since the beginning of the COVID-19 pandemic, mainly due to a lack of inventory, according to the study.

It’s also due to growing property taxes and homeowners insurance premiums as providers exited states where risks are elevated.

“Homeownership is an important wealth-builder for many Americans, but it ain’t details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com