RALEIGH – People wanting to buy homes face a shortage of selections for several years to come, warns the top exec with the North Carolina Budget & Tax Center. Making matters worse, incomes are not keeping pace with soaring prices.
“The reality is that housing prices in our state are growing far faster than income,” Alexandra Forter Sirota, the executive director of the North Carolina Budget & Tax Center said during the virtual Fair Housing Community Conference on Friday. “Stagnant wages are making it harder to buy a home,” said Sirota. “There’s a shortage of homes to buy.”
According to Sirota, there’s a significant gap between available housing and what’s needed for North Carolina’s growing population.
“There’s a gap of about 900,000 housing units that North Carolina communities would need to have in order to meet our growing need for homes in our state by 2030,” said Sirota.
The Fair Housing Community Conference, in its 19th year, is organized by the City of Raleigh with partnership from the Raleigh Fair Housing Hearing Board and the Fair Housing Project of Legal Aid of North Carolina.