Homeowners Struggle Under Higher ‘Phantom Costs’

From utility bills to insurance premiums, homeownership expenses have increased sharply over the past few years.

A sign in front of a home for sale in San Francisco on May 11, 2023. Justin Sullivan / Getty Images

Many Americans are now regretting buying a home as they struggle to afford unexpected expenses.

U.S. households have grappled with painful financial issues in the real estate market for the past few years, from surging home prices to rising interest rates. At the same time, chronic inflation has made other aspects of homeownership more expensive, creating what industry experts say are “phantom costs.”