DAYTON, OH (WDTN) — Forecasts from the National Association of Realtors show that housing prices are up 15% from one year ago, and have steadily risen since the second quarter of 2020.
These statistics are worrisome for people like Toni Morgan, assistant director of Housing for YWCA. “In Ohio, it looks like 1 in 9 houses are spending most of their income on their housing cost.”
Elizabeth Cooper, a realtor for Home Experts Realty, said the housing market is causing many people to panic while searching for a place to live. “People are coming in and getting wild rents right now because of the limited availability of options available.”
Cooper said she’s also seeing some clients offering extra money to secure a home purchase. “People are going up against so much competition that they’re sometimes overpaying.”
If people can’t offer extra money or even find a place, she also said many people are roughing it and moving in with friends or family until they can find a place.
Morgan said the housing market spike is also causing concern for domestic violence increases.
“A couple facing financial hardship has three times the risk of experiencing domestic violence,” said Cooper.
For people who can’t pay rent, Morgan also worries they could return to negative and even violent situations. “Victims may have left their abuser but if they’re evicted from their unit because they can’t afford it, they may go back to their abuser.”
Ohio’s eviction moratorium ends July 31, and Morgan said the YWCA is expecting an increase in people needing shelter.
For people currently in need of housing assistance, click here for more on the YWCA and its availability.