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Housing market drives rental shortage

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TUCSON (KVOA) - The pandemic has driven up the demand for many goods. The housing industry is one sector that has been through the roof. While it is a seller's market, it is putting renters at a disadvantage.

That's what happened to DJ Alex Smith, or DJ L3XX.

His landlord is selling the house that Smith rents, and he has to be out by the end of the month. He has two kids, a roommate and a large go. He said it has been tough to find a place.

"I'd really like to find what I am looking for but in this town, right now, I think I found five or six that are in my price range," Smith said.

Realtor John Malozsak, with Suburban Real Estate Group said a couple of factors are at play.

"It's a combination of the low-interest rates and the low inventory. It's driving the prices up," Malozsak said. "And so, when we are talking values we're talking a net gain of about 30 percent in the last couple of years on these homes. So some of these homes [have] been stagnant for quite some time, and now they're seeing that gain."

Malozsak deals with a lot of property in Sahuarita. He said there are currently no rentals in Rancho Sahuarita, a planned community of 7000 homes. He said there are only about 11 for sale.

Shelle Jackson

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