When will the housing crisis end? | Tar Heels Together

When will the housing crisis end?

 When will the housing crisis end?

Housing prices in the Triangle have risen 20% on average in the last 18 months. A recent poll found that an estimated 400,000 households in North Carolina have no confidence that they can pay the next month’s rent. (Adobe stock images)

Madeline Pace, The Well, Friday, September 17th, 2021

Housing prices in the Triangle rose to unprecedented levels during the height of the pandemic as families fled major cities, offices initiated teleworking, children began learning from home and homeowners wanted more space. The result was a 20% increase in the average price of a home in the Triangle and outrageous bidding wars for homes, including some properties buyers had never seen in person. At the other end of the spectrum, low-income families unable to pay their mortgages and rent were left with little recourse when the National Eviction Moratorium ended on Aug. 26.

The Well spoke with Roberto G. Quercia, the Trudier Harris Distinguished Professor in the city and regional planning department in the College of Arts & Sciences, about when the housing boom will end, if we should brace for another recession and what the end of the eviction moratorium means for North Carolina families.

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