Millions of Americans Struggling with Housing Affordability, Study Reveals

A new study by the Harvard Joint Center for Housing Studies reveals that over 18 million Americans are struggling with housing costs beyond their means. Factors such as climbing property taxes, rising home insurance rates, and high mortgage rates are making home ownership increasingly unattainable for many, including first-time buyers like Stella Bermema and current homeowners like Anthony Fumo. The housing market challenges are particularly pronounced in regions like Tampa Bay, Florida, and the Northeast, where individuals are feeling the financial strain of owning a home. With the cost of owning a home hitting a new record and mortgage rates remaining high, the dream of home ownership is becoming more elusive for many Americans.