214 [S4E08]: The State of the Housing Market with Real Estate Broker Tracee Lutes

The affordability of housing in Bloomington, or rather, its increasing unaffordability, has been an issue for more than a decade. Indiana University has grown its enrollment without growing even its first-year-student housing stock, per a recent story in the Herald-Times. Interest rates have been relatively high, and only now are starting to come down; supply has been low; in this area, new housing that's not student-oriented apartment complexes have been difficult to build. But so much of that type of housing has opened as of this school year that the market may be cooling off. 

On all this we get the perspective of a long-time professional in the local real-estate market. Tracee Lutes is a Broker Owner at Remax/Acclaimed Properties of Bloomington and Bedford. We get into the state of the market, as well as the challenges of developing single-family housing locally. And we discuss the Bloomington Housing Authority and the Summit Hill Community Land Trust, both of whose boards she serves on.