'Making Money' panelists Amy Nixon and Melody Wright discuss affordability in the housing market.

A telling new analysis of rising home maintenance costs from the real estate listing service Zillow, in conjunction with Thumbtack, which tracks the cost of local services, should remind those promoting the virtues of homeownership that it’s key for new buyers to be prepared and capable owners. At the same time, the findings tell yet another story of how the cost of government in "blue" coastal cities pushes homeownership out of reach — even for those who are otherwise well-prepared.

The Zillow-Thumbtack report should be required reading for those aspiring to homeownership — or for elected officials who would use policy to enable it. The 50-year mortgage being suggested by some in the Trump administration might reduce monthly payments by stretching them out, but it would not help with the fact that, per Zillow and Thumbtack, "insurance, maintenance and property taxes can cost the average homeowner $15,679 annually." Those costs are rising 4.7%, faster than both inflation and household incomes, which increased 3.8%.

Such hidden — or at least underemphasized — costs show that a lack of savings or financial wherewithal can mean ownership won’t be sustained, even for those who have the down payment to qualify. This is one of the most important lessons of the 2008 financial crisis, when federal policies encouraged "affordable housing mandates" for subprime buyers through regulation of the mortgage-purchasing giants

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