CANFIELD, Ohio – In this excerpt from The Business Journal Roundtable Series featuring housing and mortgages, panelists discussed how rising property values, taxes and insurance costs are reshaping home purchases in the Mahoning Valley.
Lenders and real estate professionals said buyers are increasingly constrained by higher monthly payments driven by taxes, homeowners insurance, HOA fees and maintenance costs, not just interest rates. Several noted growing difficulty securing or renewing insurance, particularly for older roofs and condominiums, adding another hurdle to affordability.
The discussion emphasized the need for better consumer education on the full cost of homeownership, especially for first-time buyers.
Watch the full discussion HERE.
Read the full transcript HERE.