Beloit city officials, Realtors face down a shortfall in affordable housing

Source: Beloit Daily News

BELOIT—Beloit area Realtors say they’re seeing a housing market so tight that working class homebuyers are scouting out homes with construction dumpsters outside. The aim: to make offers before the properties are listed for sale.

Whether that’s savvy or desperate, it’s a sign of the shortfall in the local market for housing in the $175,000 to $200,000 range. That’s what local economic development and housing leaders say is now the going rate for working class Beloit families who seek affordable housing.

That’s one anecdote that came out of a local housing summit led by the city of Beloit and local Realtors on Wednesday. Beloit area Realtor Mike Marquette underscored the drum-tight market with some hyperlocal stats.

To read more, please click here>>