Homeowners who had assumed their properties would become valuable assets and provide security described their homes as “money pits” and “financial burdens”, and said they felt stuck in homes they could barely or no longer afford, with insurance, taxes, utilities and maintenance now often costing more than people’s mortgages.

Bubble. And it will get worse with climate change: https://www.nature.com/articles/s43247-023-01173-x

There’s a term that’s going to get popular: “uninsurable”.

“I bought this house 19 years ago for $220,000,” she said. “If I’m lucky, I can sell it for $300,000.” Local house prices, she said, had not gone up by very much in all this time, in part because local property taxes were prohibitively expensive.

Classic hypocrisy. Complaining about how much houses costs when you want to buy, and then complaining about how little houses costs when you want to sell.