A city councilman in Newark, California, quit his role after being 'priced out' of buying a home in the city and he lamented the struggle that working people face to afford purchasing property in the area amid expensive mortgages.In a Facebook post, Mike Bucci said he decided to resign and move from Newark because he could not afford to buy a home there.'We're just the next people in a long line of folks who have been priced out of town.
4 million, a staggering 15 percent rise from a year ago. The high prices, along with mortgage rates hovering around 7 percent, have made it a challenge to afford to buy a home in the area.'The Newark housing market is most competitive,' the real estate platform said. 'Homes in Newark receive 8 offers on average and sell in around 8 days.'Redfin added: 'Most homes get multiple offers, often with waived contingencies.