Redfin's Chief Economist Daryl Fairweather talks through what is causing rent spikes across the country, how this will impact domestic migration -- and what should be done about the housing crisis that is now impacting the upper middle class.

“Before, I think, it was something that the middle class could kind of ignore; it wasn't their problem that there wasn't affordable housing for lower-income people,” she says. "But now, middle-class people can't buy a home because they're being competed against by people coming with all-cash offers, multiple offers on a home selling for $50K above asking. It's just getting so intense that I think people are starting to understand the severity of the problem.”

Read more Bisnow coverage of the housing crisis:

'The Pandemic And Rent Inflation Are Pushing People Into Potentially Dangerous Living Situations'

https://www.bisnow.com/national/news/multifamily/forced-cohabitation-skyrocketing-rents-pandemic-unsafe-111723

'The Moratorium Is Over, But 'Eviction Blockades,' Exhausted Relief Have Landlords At Wit's End'

https://www.bisnow.com/new-york/news/multifamily/eviction-moratorium--111744