Prospective homebuyers are cheering on declining mortgage rates — the rate on a 30-year fixed has fallen in the last week to the lowest reading since 2023. However, the lingering issue of home insurance is casting a dark cloud over the housing market for excited buyers.
Content creator, podcaster, and "In This Economy?" author Kyla Scanlon joins Madison Mills on Market Domination Overtime to highlight the increasing price tag for home insurance. Scanlon outlines "a perfect storm for home insurance" as costs rise, especially in states like California and Florida where extreme weather and climate events ravage communities.
For those purchasing homes in the attempt to live the American Dream, Scanlon says it is instead turning into the "American Nightmare."
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