Inland Empire residents are seeing higher home prices, and the renters are feeling the pressure.
Henry Reyna, who rents in Upland, said it’s been nearly impossible to afford to buy a home.
“I haven’t been able to do it,” he said. “Just saving money, paying my rent for one thing month to month, and then trying to save money to put a down payment, I found it really hard, and then then the prices that are out there for what I can afford, what I’m eligible for to buy a home.”
Another renter, Erica Taylor, noted that her commute from her rental home in Rancho Cucamonga to her work in West Covina would likely get worse if she found a home to buy.
“It would mean driving me further away two hours from where I work, and even then, I think the prices are still far too high,” she said.
It doesn’t help that California has been seeing record highs for home prices, which Oscar Wei, deputy chief economist of the California Association of Realtors, said is due to a lack of availability.
“With solid demand but not enough supply — we have been having a supply shortage for quite a while now — but not having enough supply, it actually pushed up home prices across the state,” Wei said.
When will this trend ease for those looking to buy a home?
“Starting maybe in about June or July, that number will probably start leveling off a bit. It may actually stay at a similar level for a little longer,” Wei said.