One in three Americans is worried that rising monthly payments, especially for 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 survey sponsored by the National Association of Realtors.By a 2-to-1 margin, the survey also found that high monthly payments, rather than high downpayments, are the greatest obstacle to buying a home. Rising property taxes were cited by 34% of those surveyed as their leading concern, compared with 28% who cited energy costs and only 14% who cited rising mortgage rates, the NAR reported. "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 NAR president Thomas M. Stevens. "Many families are struggling to meet the high cost of homeownership, and increasingly those costs are property taxes and energy utilities." The NAR can be found online at http://www.realtor.org.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry