#718 - Nothing to buy, nothing to rent: Some Americans are stuck in housing limbo

When Rebecca DiLorenzo’s landlord of 14 months informed her that he would be raising the rent by $300 a month on the apartment in East Greenwich, Rhode Island, she shares with her fiancé, Kyle, she started to look around for a place to buy. 

“Our mindset last spring was, ‘We’re getting married, we need to buy a house’ and for a while we were going to open houses every weekend, but the market was just getting crazier and crazier,” she said.

After getting outbid on four houses — by as much as $50,000 — DiLorenzo knew they needed a Plan B. “We didn’t want to stay in our rental because it would have cost almost double what a mortgage would have been, but we also didn’t want to buy a house we really couldn’t afford,” she said.

Priced out of both the sales and rental market, the soon-to-be newlyweds are now living with family until things settle down.

Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.

https://news.yahoo.com/americans-are-stuck-in-housing-limbo-173106061.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAH0mi_gI-hBOEFzjci2RomTKANPdv1dTUjKrmLD3PbaRdxi1vAmUbhhocSvxbM4iqi7idNt7JrijX5AhGMvc_1ruwI1-8PKdQlERW7DYQ9YmxVFtxljyTejBOdXgwBZTDOl90EjXhmW2Rt8wzP5bDn_kMXux7Yk5imwZjm1VUVrK

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