For generations, owning a home has been the cornerstone of the American dream. But for millions of homeowners, that dream is increasingly becoming a source of sleepless nights, financial stress and mounting anxiety.
A new study has found that one in four homeowners say the pressures of owning a home is having a major negative impact on their quality of life, as rising repair bills, soaring insurance costs and economic uncertainty leave families feeling trapped.
According to Hippo Insurance’s inaugural Homeowner Anxiety Report, 25 percent of homeowners say homeownership-related stress has a highly negative or extremely negative impact on their lives.
Nearly one in five homeowners say their house is now their single biggest source of stress – on par with concerns about careers and relationships.
The burden appears to be hitting younger Americans particularly hard.
More than three-quarters of Gen Z and millennial homeowners – 76 percent – say homeownership anxiety is affecting their wellbeing, compared with 51 percent of Gen X and baby boomers.
The findings paint a stark picture of a housing market where many buyers are struggling to cope with the realities of ownership after finally achieving what was once considered a major life milestone.
The report’s findings have struck a chord with homeowners online, where many describe feeling overwhelmed by a seemingly endless stream of repairs and unexpected costs.