The Housing Crisis is DEVASTATING America

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The Affordable Housing Crisis Is Out of Control
Half of US homeowners and renters reported regularly struggling to make their housing payments, according to a recent Redfin survey.
22% of participants skipped meals just to afford housing, 17.9% resorted to borrowing money from friends and family, while 15.6% of people delayed or skipped medical treatments. The cost of living over the past couple years is hurting Americans, and housing is a big factor in this equation.
The cost of getting a mortgage has skyrocketed, with rates being higher over the past year. And in some markets, rental rates are even worse.
Estimates vary depending on the source, but millions of housing units are needed across the United States. Low inventory combined with high interest rates have created an absolute disaster. This problem has been years, if not decades, in the making.
We know that homeowners who purchased or refinanced their homes during the pandemic era are locked into historical low interest rates, with little motivation to sell. It’s predicted that more than 90% of American homeowners are locked into rates below 6%.
And for those hoping to buy a home, interest rates are putting a massive damper on purchasing power.
Builders have never fully recovered since getting burned during the Great Recession. Plus, it costs more to build today. From increased pricing of lumber, labor, and interest rates, it’s risky for builders to push out a substantial amount of inventory.
We know that the problems with higher interest rates are a short-term hurdle, but the lack of inventory has been brewing for years now. This can’t be fixed overnight. There’s not a clear-cut solution to solving the affordable housing crisis.
Smart real estate investors find a way to profit despite what’s going on in the market – and we know that the affordable housing crisis is an opportunity to contribute housing to those who need a place to rent until buying becomes more likely. Because there are more people looking to rent, there’s a potential for long-term, stable income.
But if you want to make a smart investment, that starts with buying right. In the midst of an affordable housing crisis—with high interest rates and low supply, it can be hard to find a property that checks all of your boxes.
Our new construction properties at Morris Invest can help you reach your goals. Because we buy and build in bulk, we’re able to pass down savings to our investors. And our properties are located in the best growth markets in the US. If you’re interested in learning more, head over to https://morrisinvest.com to schedule a free 30-minute call with my team.
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