'End the Eviction Moratorium in AZ Immediately or Face Dire Economic Consequences', Warns Top Real Estate Agent

SCOTTSDALE, ARIZ. (May 10, 2021)- End the eviction moratorium in Arizona immediately. That's what real estate agents and housing experts are calling for, loudly sounding the alarm on the impending housing crisis that is drowning veterans, minorities, women and first-time homeowners out of the Valley's housing market. 

"Everyone wants to talk about how the housing market is on fire in Arizona right now and I see what's happening through a completely different lense," said Jason Mitchell, Founder and CEO of Jason Mitchell Real Estate. 

"It's true that the market is hot and homes are selling at astronomical prices as soon as they hit the market - many of them being scooped up instantly by cash buyers and investors with deep pockets who are willing to repeatedly bid on homes, driving prices through the roof and completely out of reach for veterans, minorities, women and first-time homeowners," he said. 

It's a trend that is concerning for Mitchell, a long-time Valley real estate agent and broker who operates 54 real estate offices in 18 cities and employs over 250 people. The company has completed over 700 sales so far this year and is on track to produce over $2B in sales revenue in 2021. 

"The issue we are facing is inventory and when there is limited inventory, there are fewer houses on the market and buyers are coming to Arizona from all over the country willing to to pay a premium for what little properties we do have available here," he said. "The problem is the eviction moratory that is holding up thousands of homes that should be back into the market pool, easing pricing and availability for would-be buyers that should be making the shift into home ownership," he said.

Mitchell says that the eviction moratory is not just a housing market issue but also an economy issue. "As a broker, I feel very strongly that now is the time to sound the alarm about the long-term effects of market manipulation that's being caused by the unnatural lack of housing product in the market. Unless we start seeing homes start re-entering the market, it is going to be a rough road ahead for the economy and making the dream of home ownership even less likely for buys already at a disadvantage," he says. 

"As agents, we are strongly asking the Governor to look at the long term impact of the eviction moratorium which has now been in place for over a year, Mitchell said. "Sadly, there are those that have taken complete advantage of this loophole and not paid their mortgage for a year. Those people should no longer have the privilege of home ownership," Mitchell said. 

Mitchell says that in addition to ending the eviction moratorium, there is more the government can do to help underprivileged buyers achieve the dream of home ownership. 

"Right now there is zero incentive for a seller to sell a home to someone who would be using an FHA loan to purchase a home, and those people don't even have a shot when it comes to competing with cash buyers and investors willing to battle it out for a property, often driving the price up 20% or more," he said. 

"Tax incentives to home sellers who sell their homes to buyers with FHA loans is one way to even the playing field, limit price inflation and create a win-win situation that restores the healths of the market and the economy," Mitchell said.

According to Mitchell, there are numerous solutions for the current and impending crises we are facing, and it begins with ending the Arizona eviction moratory immediately.

For more information about Jason Mitchell Real Estate visit www.mitchellgroupaz.com. To schedule an interview with Jason Mitchell contact The Brand Consortium Public Relations.