Rental prices uptick, homebuyer calling it a housing crisis

DELMARVA – The price of rentals is up.

Realtors are calling it a housing crisis. Home buyer Dave Schmidt says this impacts both apartment rentals and home rentals. He feels a lot of residents have the “Not In My Backyard” attitude toward affordable housing. Which he says has a domino effect, impacting businesses and people who need homes.

Schmidt believes it’s going to be a long time before we see housing prices go down, for two reasons. “I think we’re already there, and I think its going to continue to get worse because of how stagnant wages are and what people make on Delmarva versus the average cost of the houses has gone up significantly,” says Dave Schmidt with Delmarva Dave.

Schmidt says fixing the housing crisis starts with local government. Adding cities and towns need to incentivize people to spend their money and build a home.