Don Harris commented on housing affordability 2020-02-14 13:53:22 -0500Too much demand for the available houses on the market. Apartments seem to be dominating the new construction market and rent rates are high. We are experiencing a true “seller’s market”. Mortgage rates are etremely low and people want to buy. Good houses only last a day or two on the market.
Housing affordability is a critical issue in North Carolina. As in other states, the supply of new homes is falling far behind demand. The North Carolina Homeowners Alliance has made housing affordability a priority issue for 2020.
Creating more housing supply will require both state and local solutions. The North Carolina Homeowners Alliance is partnering with local REALTOR® associations to provide helpful data and facilitate community conversations.
Solutions could include:
- Changes to zoning that allow for more supply of all types of housing
- Funding at both the local and state level for affordable housing
- Tax incentives that encourage home ownership
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