Charlottesville, VA (CVILLE RIGHT NOW) – Quinton Beckham, broker and owner of KW Alliance, joined Cville Right Now Live to discuss the widening divide in the housing market and its impact on financial stability.

During the conversation, Beckham emphasized how rising rent prices, up 26% since 2020, have outpaced wages, which grew only 25.7%, barely keeping pace with inflation at 21%. “What you could buy for a dollar in 2020 now costs $1.21,” Beckham explained, highlighting the financial strain renters face.

He compared the struggle to climbing an icy hill, saying, “It’s a solid sheet of ice … I’m trying to carry the trash can not fall, and I would take step forwards, and I just kept sliding back and I kept coming close to falling… this is your life right now.” For Beckham, the solution lies in homeownership, which he urged listeners to view not just as an investment but as a critical step toward financial security.

While acknowledging challenges like high mortgage rates, Beckham argued that homeownership offers long-term stability. “Yes, mortgage rates are at 7%, but in four years, your payment could be lower as rates stabilize. Rent, on the other hand, just keeps climbing,” he said.

Listen to the full conversation here: