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Dismal News on Rising Homeowner Costs

October 9th, 2008 at 09:05 pm

In case you were in any kind of denial, here's an excerpt from a story on Market Watch.

"All major categories of homeowner expenses increased faster than incomes between 1996 and 2006, the center reported in "Stretched Thin: The Impact of Rising Housing Expenses on America's Owners and Renters."

"While mortgage payments increased 46% during those 10 years, utilities increased 43%, property taxes increased 66% and property insurance increased 83%, according to the study. But homeowner incomes increased just about 36%.

Here's the full story.

Kudos to all those who remain in the no-heat contest. No one else has written to tell me they turned on the heat, so we're all still in this together.

Fortunately for us in the Northeast, we're expecting mild temps in the low 70s for the rest of the week. And with all the terrible economic news (the Dow dropped again today like a lead weight), I'm looking at this no-heat challenge as more and more a necessity, not just entertainment.

On top of that, Accuweatheris forecasting the coldest winter in the Northeast in five years. So hang onto your mittens!



6 Responses to “Dismal News on Rising Homeowner Costs”

  1. monkeymama Says:

    Our costs haven't risen hardly at all (the ones mentioned). I guess it depends on a lot of factors.

    Don't be jealous though, healthcare is wiping us out! & I do figure the rest will be inevitable.

    My house has settled around 80 degrees; no heat.

  2. HouseHopeful Says:

    I'm still without heat. In fact, the temps increased a bit here, which made things MUCH easier Smile I hope to not turn it on til at least November.

  3. LuckyRobin Says:

    Guess I'm really glad we bought our house in 1998 then and have only six years left to go on our mortgage. We've had temps below freezing all week here at night so we are using the wood stove, but the wood was free and the propane is off, so not doing too badly on that score now. Wasn't here when you started your contest and did have to use propane a couple of days in September anyway.

  4. dmontngrey Says:

    Just loving these new windows here so far! Even on mornings where the temps have been in the 40s, it has been high 60s in the bedroom! You know I'll cave first for animals/plants before I get cold. Ah well, still a while I hope.

  5. Ima saver Says:

    No heat for me yet either. Just wearing a sweater to stay warm.

  6. princessperky Says:

    Still with my window open here....

    I do prefer some things about living down south. Smile
    I did however pack a sweater for camping this weekend.

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