American homebuyers battling elevated interest rates and high listing prices are confronting a far broader financial hurdle: a hidden “obstacle course” of property taxes, rising insurance premiums and local regulatory friction.

Beyond headline mortgage rates, rising monthly carrying costs in high-growth states are increasingly influencing where families can afford to settle, according to SERHANT. founder and real estate star Ryan Serhant.

“New York taught me that real estate is a function of price and rates. It is supply, and it is demand,” Serhant told Fox News Digital at his SoHo headquarters. “As we started expanding the company across the…

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