For generations, owning a home was the centerpiece of the American Dream. A home meant stability, security, and a path toward building real wealth. Today, that dream is being hollowed out from the inside, and millions of families are discovering the nightmare lurking beneath their mortgage payment.
A new analysis from Zillow and Thumbtack just dropped a bombshell. The “hidden costs” of homeownership have surged to $15,979 every year, on top of the mortgage. That means Americans are lighting $1,325 on fire every single month before they even touch their principal and interest payment.
Maintenance alone eats up $10,946 annually. Property taxes pull out another $3,030. Insurance costs — the once predictable part of owning a home — now drain $2,003 a year.
And while these expenses shoot upward, household income barely moves. The report shows these hidden costs jumped 4.7 percent in one year, while incomes crawled forward 3.8 percent. Families are getting squeezed tighter each month.
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