Industry News

Real estate taxes, energy costs worry potential homeowners

Survey shows housing affordability, healthcare costs are also top issues

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Rising property taxes and energy costs are among the leading worries associated with home ownership, according to an annual survey conducted by the National Association of Realtors trade group's Housing Opportunity Program. About 34 percent of respondents stated that property taxes are a top worry, while 28 percent said they were most troubled by energy costs and 14 percent cited rising mortgage interest rates as a leading concern. The Housing Opportunity Program, created in 2002, has a mission to promote rental and home-ownership opportunities for consumers. By a 2-to-1 margin, respondents said they believe that high monthly payments, rather than high down payments, are "the greatest obstacle to buying a home," according to an association announcement about the survey. About 82 percent of respondents said high energy costs are one of their top three concerns, 53 percent cited lack of affordable healthcare and 42 percent cited lack of affordable housing in their community. About one-...