“The challenges to real estate buyers and sellers right now are probably the greatest ever,” real estate powerhouse Dolly Lenz told Fox News Digital. “It’s a struggle for every buyer and a struggle for every seller… they really have to look and say: What am I doing? Do I struggle to stay where I am and just wait this out? Do I struggle to buy?”
“Which struggle am I willing to take on? And every family has to sit down at the dining room table and decide that,” she continued. “It is a struggle and people really are suffering. So it’s not a good time for real estate overall.”
Recent data from mortgage buyer Freddie Mac indicated the U.S. homebuyer’s monthly costs have surged nearly 20% compared to one year ago. Lenz’ daughter and managing director of the brokerage painted the current housing landscape as “a tale of two cities,” joining the warning calls around a sticky real estate market with people who are “plagued” with high prices.
U.S. HOUSING AFFORDABILITY AT AN ALL-TIME LOW
“We’re still doing deals because [clients] have cash. And like they say, cash is king,” Jenny Lenz also told Fox News Digital. “But other than the very, very high-end, we are seeing people who are pretty skittish. And again, the first time homebuyer is suffering the most.”
