Middle-Class Home Buyers Have Few Options and Little Hope in the US, Realtor Says: 'We Have a Big Problem'
Monique Edwards from NC Living Realty in North Carolina posted a video of a crowd hoping to see a property on her Facebook page in an effort to highlight what she called "a big problem." "We need middle-income housing," she told Inside Edition Digital.
As anyone currently looking for a home knows, the housing market is insanely competitive.
"OK, everyone, so I am here showing my client a home," she said in the clip showing crowds of people gathered to view a home. "And I just want you to take a look at all of the people who are lined up to see this property."
The three-bedroom, three-bath home was listed at a modest $260,000. That made a lot of people very interested.
Edwards told Inside Edition Digital that she took the video as a means to educate clients about the fact that homes just cost too much.
"It can be very jarring for people," she explained. "We have a big problem. We need middle-income housing."
She also stressed that qualifying for a home isn't enough. Sometimes, people have to go into their retirement funds, get loans from family, and some even pull out from their 401Ks to secure a property.
"People are so desperate for a home, you know, under a particular price point because people don't make as much money," Edwards said. "But there's just a lot of people out here; this is absolutely insane."
The home Edwards was speaking to is also rare, as inventory is low in the so-called "Research Triangle" area of North Carolina where three prestigious schools, Duke University, UNC-Chapel Hill, The University of North Carolina and many technology companies, are situated.
"So when we say that there is a housing crisis." Edwards noted, "We really, really mean it. It's absolutely insane. The line goes all the way in the back."
She said that the luxury market is not as cut-throat. But for everybody in the middle, there's not much inventory from which to choose.
Edwards said that the market has been competitive since about 2018 or 2019, but it's now the worst it's been since she became an agent seven years ago.
And she doesn't see it calming down any time soon.
As for the particular home highlighted, it was under contract within two days of when it was put on the market.
So for those who missed out, the search continues.
"If you were in the luxury market, you could purchase a half-million-dollar home or higher," Edwards notes. "And if you're homeless, you have federal monies and incentives and state and local incentives to put a roof over your head.
"But what about everybody in the middle, and that's what I wanted everybody to see. And when you are in the middle, there really isn't any sanctity," she continued. "There's not much to help you."
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