Ariz. Real Estate Broker: Homeownership Is ‘Mathematically Out of Reach for Lots and Lots of People’

MILLER One economic indicator ░░░░░░░░ could hit home in ░░░░░░░░ presidential election the high ░░░░░░░░ of buying that first ░░░░░░░░ and living the American ░░░░░░░░ This may feel almost ░░░░░░░░ in key battleground states ░░░░░░░░ Arizona where would be ░░░░░░░░ face housing shortages and ░░░░░░░░ interest rates Ed O ░░░░░░░░ spoke with some first ░░░░░░░░ buyers in the Phoenix ░░░░░░░░ Clip starts O KEEFE ░░░░░░░░ over This election year ░░░░░░░░ key battleground states the ░░░░░░░░ to a first home ░░░░░░░░ feel further out of ░░░░░░░░ UNKNOWN MALE 1 Most ░░░░░░░░ people are pushed out ░░░░░░░░ buying UNKNOWN FEMALE 1 ░░░░░░░░ housing whether you re ░░░░░░░░ everything s increasing UNKNOWN ░░░░░░░░ 2 Oh it s ░░░░░░░░ right now At this ░░░░░░░░ we are saying that ░░░░░░░░ re probably not going ░░░░░░░░ be able to move ░░░░░░░░ KEEFE voice over The ░░░░░░░░ market up almost everywhere ░░░░░░░░ especially hot in Arizona ░░░░░░░░ KEEFE Finish this sentence ░░░░░░░░ me The cost of ░░░░░░░░ is CLAIBORN is too ░░░░░░░░ right now No question ░░░░░░░░ that O KEEFE voice ░░░░░░░░ And Nathan Claiborn isn ░░░░░░░░ looking to buy a ░░░░░░░░ He sells them as ░░░░░░░░ realtor in the Phoenix ░░░░░░░░ CLAIBORN Affordability is certainly ░░░░░░░░ issue here Your police ░░░░░░░░ teachers your firefighters they ░░░░░░░░ t afford this house ░░░░░░░░ KEEFE voice over Or ░░░░░░░░ one he showed us ░░░░░░░░ three bedrooms CLAIBORN All ░░░░░░░░ flooring all the fixtures ░░░░░░░░ new O KEEFE voice ░░░░░░░░ listed for over a ░░░░░░░░ million dollars O KEEFE ░░░░░░░░ might have been 20 ░░░░░░░░ 40 years ago a ░░░░░░░░ home CLAIBORN Yeah O ░░░░░░░░ Now this is the ░░░░░░░░ goal CLAIBORN This is ░░░░░░░░ move up home absolutely ░░░░░░░░ KEEFE voice over In ░░░░░░░░ Claiborn says because a ░░░░░░░░ of buyers are moving ░░░░░░░░ from out of state ░░░░░░░░ only 2 of Arizonans ░░░░░░░░ housing here is very ░░░░░░░░ while 42 tell a ░░░░░░░░ CBS News poll it ░░░░░░░░ very unaffordable like those ░░░░░░░░ met at Goodwood Tavern ░░░░░░░░ Scottsdale SNYDER You guys ░░░░░░░░ okay over here O ░░░░░░░░ voice over Joshua Snyder ░░░░░░░░ the bar He s ░░░░░░░░ and is closing tomorrow ░░░░░░░░ the first home he ░░░░░░░░ owned O KEEFE Did ░░░░░░░░ get everything you were ░░░░░░░░ for SNYDER I think ░░░░░░░░ did O KEEFE voice ░░░░░░░░ But it took years ░░░░░░░░ looking as prices kept ░░░░░░░░ up SNYDER I feel ░░░░░░░░ it jumped 40 30 ░░░░░░░░ in three years O ░░░░░░░░ voice over Our poll ░░░░░░░░ 88 of Arizonans say ░░░░░░░░ a home is harder ░░░░░░░░ it was for their ░░░░░░░░ NEWKIRK When my parents ░░░░░░░░ my age they owned ░░░░░░░░ home and had been ░░░░░░░░ a couple of years ░░░░░░░░ KEEFE voice over Lauren ░░░░░░░░ s parents helped her ░░░░░░░░ for a down payment ░░░░░░░░ I think we re ░░░░░░░░ our fourth or fifth ░░░░░░░░ O KEEFE And you ░░░░░░░░ come up short each ░░░░░░░░ GRAFT Yes TUTTLE So ░░░░░░░░ O KEEFE voice over ░░░░░░░░ Ryland Tuttle and Kelsey ░░░░░░░░ moved in with family ░░░░░░░░ save O KEEFE Is ░░░░░░░░ easier or harder to ░░░░░░░░ a home now than ░░░░░░░░ it was four years ░░░░░░░░ GRAFT Harder TUTTLE Definitely ░░░░░░░░ O KEEFE voice over ░░░░░░░░ Claiborn agrees O KEEFE ░░░░░░░░ does seem increasingly like ░░░░░░░░ s out of reach ░░░░░░░░ a lot of people ░░░░░░░░ Yeah It doesn t ░░░░░░░░ seem out of reach ░░░░░░░░ is mathematically out of ░░░░░░░░ for lots and lots ░░░░░░░░ people Clip ends KEEFE ░░░░░░░░ on the campaign trail ░░░░░░░░ Biden former President Donald ░░░░░░░░ they hear these concerns ░░░░░░░░ ve been talking about ░░░░░░░░ about the price and ░░░░░░░░ supply of housing And ░░░░░░░░ every one of those ░░░░░░░░ we spoke to in ░░░░░░░░ says they haven t ░░░░░░░░ up their mind come ░░░░░░░░ But the issue of ░░░░░░░░ how much it costs ░░░░░░░░ there s supply will ░░░░░░░░ a big factor in ░░░░░░░░ they ultimately vote for ░░░░░░░░ perhaps not surprising they ░░░░░░░░ t made up their ░░░░░░░░ After all they live ░░░░░░░░ a battleground state BURLESON ░░░░░░░░ re right about that ░░░░░░░░ of mind for everyone ░░░░░░░░ the country Ed thank ░░░░░░░░