People are 'giving up' on homebuying: Kinloch Partners CEO

June 27, 2024

Housing affordability is weighing on potential buyers as home prices continue to rise, the Case-Shiller National Home Price Index shows. As hopes of home ownership slip away for some, Kinloch Partners co-founder and CEO Bruce McNeilage joins Market Domination to discuss the alternative build-to-rent market.

McNeilage explains that people are giving up, and may not enter the market until rates move down to 5.5%. He adds that to his company is receiving "more and more" lease applicants with each home vacancy, but that the industry "98% leased."

"People are going to have to rent longer than they think," McNeilage tells Yahoo Finance.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This article was written by Gabriel Roy

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