'UNIQUE SOLUTION’: Connecticut mom moves family into hotel to due high rent prices

Published: Sep 01, 2024 Duration: 00:02:20 Category: News & Politics
Tags : fox real estate economy inflation Fox Business Fox Business Network fox business channel fbn us economy rentals The Big Money Show home prices mortgage rates Real Estate News rental properties brian brenberg home owners housing crisis inflation data inflation rates madison alworth rent prices renting renting vs buying suzanne hayes taylor riggs us inflation
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THAT REPORT. MADISON: ABSOLUTELY HEARTBREAKING. LET'S DO THIS FOR MORE ON THE GROWING HOUSING CRISIS I WANT TO BRING IN SUZANNE HAYES, A SINGLE MOTHER OF THREE FROM CONNECTICUT. YOU MOVED FROM A HOTEL, MOVED INTO A HOTEL BECAUSE RENTING WAS UNAFFORDABLE. THANKS FOR JOINING US. REALLY HARD TO IMAGINE LIVING IN A HOTEL IS CHEAPER THAN RENTING? WHAT LED YOU TO TURN TO A HOTEL FOR HOUSING? >> SO I REALLY THINK I GOT LUCKY FINDING A UNIQUE SOLUTION TO A PROBLEM MANY ARE GOING THROUGH AT THIS MOMENT. I WAS ASKED TO MOVE OUT FROM 30 DAYS NOTICE FROM THE HOUSE I HAD BEEN RENTING SIX YEARS. WHEN I LOOKED AT WHAT WAS OUT THERE THE OPPORTUNITY WAS LIMITED THERE ARE NOT A LOT OF PLACES TO RENT. THE ONES AVAILABLE THE RENT WAS CLOSE $1000 MORE A MONTH THAN I WAS ACCUSTOMED TO PAYING. WHEN PUSH CAME TO SHOVE I HAD TO BE CREATIVE. I PUSHED OUT TO HOTELS THAT OFFERED LONG-TERM RATES. MANY DID NOT. I FOUND A TWO BEDROOM APARTMENT THEY RENT FOR SHORT TERM STAYS FROM MONTH TO MONTH. IT TURNED OUT BEING MORE AFFORDABLE THAN ANY OF THE APARTMENT RENTALS THAT WERE AVAILABLE IN THE AREA. TAYLOR: WHAT THEN IS YOUR PLAN NEXT? >> SO I DON'T KNOW EXACTLY WHERE I'M GOING TO END UP. I'M LOOKING AND I'M PRAYING, FAITHFUL, HOPEFUL THE RIGHT THING WILL SOMEHOW POP UP INTO MY LAP. I'M FORTUNATE TO HAVE FAMILY THAT CAN HELP ME. I WILL HAVE SOMEWHERE TO GO. I'M KEEPING MY EYES GLUED TO ZILLOW AND THE OTHER SITES THAT KEEP ME POSTED WHAT IS OUT THERE AND HOPING SOMETHING POPS UP AT THE RIGHT TOWN. BRIAN: SUZANNE, CONNECTICUT IS RANKED IN THE FIRST STATE IN AMERICA TO RENT IN. I'M CURIOUS IF YOU EVER SAID TO YOURSELF, YOU KNOW WHAT, HOW ABOUT FLORIDA, HOW ABOUT TENNESSEE? HOW ABOUT SOMEPLACE WHERE IT IS A LITTLE BIT EASIER? >> I THINK YOU'RE READING MY MIND. I THOUGHT ABOUT MOVING TO FLORIDA OFTEN. HOWEVER I HAVE THREE CHILDREN. THEY'RE STILL IN SCHOOLS HERE. THE SCHOOLS ARE FANTASTIC. THEY'RE HAPPEN AS CAN BE. I AM HERE AS LONG THEY NEED TO BE FOR EDUCATION AND SOCIALIZATION. MAYBE DOWN THE LINE. BRIAN: OKAY. MADISON: SUZANNE, YOU SOUND LIKE AN INCREDIBLE MOM, MAKING MOST OF THE SITUATION. I'M GLAD YOU FOUND A SOLUTION THINKING OF YOU MAKING THAT NEXT

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