The typical family that receives a USDA home loan earns between $30,000 and $60,000 a year, according to the National Low Income Housing Coalition.
“People who want to be homeowners aren’t able to do so,” said Sarah Mickelson, senior public policy director at the Coalition. “You could see sellers move on to other home buyers.”
The stalemate in Washington, one of the longest in history, is throwing a wrench into some people’s plans to buy a house, according to real estate experts. So far, nearly 40,000 mortgages could be caught up in the shutdown, according to online real estate firm Zillow.
More than 20 percent of realtors said they had either a current or prospective client impacted by the shutdown, according to a recent survey by the National Association of Realtors, which included responses from more than 2,000 members. “The shutdown is causing tangible harm to potential buyers, the real estate market and economic growth,” said Lawrence Yun, chief economist at the National Association of Realtors.