Renters and homeowners alike feel the strain of high housing costs, a recent survey said. (iStock)
Renters and homeowners have had to make difficult decisions due to high housing costs, according to a recent Nationwide survey.
Rising housing costs are why 20% of renters and 8% of homeowners reported they had to relocate and move into smaller spaces. Moreover, one in five (21%) respondents said they have withdrawn money or are considering withdrawing money from their retirement savings to cover housing costs. Additionally, 40% of homeowners have delayed critical property repairs because of high costs or because they needed to use the money for other financial priorities.
Home and apartment costs continue to rise, and remain the leading cause of inflation. Homebuyers are dealing with mortgage rates that have hovered near 7% for the 30-year, while home prices have increased by…
