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High home prices & interest rates contribute to tough market for first-time homebuyers https://www.tucsonsentinel.com/local/report/102323_first_time_homebuyers/high-home-prices-interest-rates-contribute-tough-market-first-time-homebuyers/
High home sales prices and mortgage interest rates are squeezing out first-time Arizona home buyers from entering the market, especially as incomes have not kept up, and there’s no relief anticipated until possibly sometime next year.
#Tucson #Arizona
@TucsonSentinel In my neighborhood, everyone is staying put except for the one that died. Prices high around $400K for a starter home. Everything else costs more so why sell? Especially as predatory investors are always trying to buy properties and turn them into rentals and charging astronomical prices to rent. Some neighbors that lived in apartments had to move as their landlords increased prices beyond what they could afford. Need a six figure income to live in the Phoenix metropolitan area.