It also doesn’t help consumers in the market to buy a home that home prices have doubled over the last decade, according to Insurify and the Case-Shiller U.S. National Home Price Index. This happened alongside the increasing frequency and severity of natural catastrophes, which drags on the economy (and ultimately consumers) is a myriad of ways.
Those who are feeling especially squeezed by their local housing market may be looking to relocate, Insurify reports. The slideshow above illustrates 10 states where Insurify indicates the increase in home costs — including insurance — have prompted residents to consider moving.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.