Homebuyers in America face challenges due to high demand, limited inventory, and rising interest rates, leading to record home prices. Existing homeowners are often "locked in" with low-interest mortgages, complicating relocation. Property taxes, which have increased significantly due to rising home values, add to the financial burden. While some states have implemented assessment limits to protect homeowners, disparities in property tax rates exist across the U.S., with the Northeast and Midwest generally having the highest rates.
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