Inflation is forcing consumers and businesses to find ways to deal with rising prices, but organizations that provide services at little to no cost face a significant challenge.Habitat for Humanity builds and rehabilitates affordable homes for families in need. As materials get more expensive, Merrill McKewen, executive director of Habitat for Humanity Mississippi Capital Area, said they need more funding from both corporate sponsors and the community to handle inflation as a nonprofit.McKewen said, in the past, buying homes to rehabilitate has been a way for the organization to be more cost-effective. But today’s market is not saving them as much as it used to.”The real estate market is eating us alive. It is tough out there,” he said. “There’s some predatory companies coming in and buying up inventory. Paying enormous prices and outbidding us on little houses that are falling apart.” McKewen said Habitat has other goals to possibly offset the inflation for their homeowners, including a new solar-powered and energy-efficient home project with Atmos Energy. According to Habitat for Humanity, homeowners are not affected by the increased interest rates because they offer them with a 30-year, zero-interest mortgage.
Inflation is forcing consumers and businesses to find ways to deal with rising prices, but organizations that provide services at little to no cost face a significant challenge.
Habitat for Humanity builds and rehabilitates affordable homes for families in need. As materials get more expensive, Merrill McKewen, executive director of Habitat for Humanity Mississippi Capital Area, said they need more funding from both corporate sponsors and the community to handle inflation as a nonprofit.
McKewen said, in the past, buying homes to rehabilitate has been a way for the organization to be more cost-effective. But today’s market is not saving them as much as it used to.
“The real estate market is eating us alive. It is tough out there,” he said. “There’s some predatory companies coming in and buying up inventory. Paying enormous prices and outbidding us on little houses that are falling apart.”
McKewen said Habitat has other goals to possibly offset the inflation for their homeowners, including a new solar-powered and energy-efficient home project with Atmos Energy.
According to Habitat for Humanity, homeowners are not affected by the increased interest rates because they offer them with a 30-year, zero-interest mortgage.
