Albuquerque, NM (KKOB) — While the state and Rio Rancho welcomed the news of Intel’s planned $3.5 billion dollar investment along with an extra 700 jobs this week, there could be a problematic side.
While Intel’s multi-billion dollar investment means plenty of jobs, it also comes with a big need for places to live. In the metro, homes stay on the market, less than a month . “This is going to mean a high demand on housing,” said Greggory Hull, the mayor of Rio Rancho.
The current housing market could make it difficult to find a home.
The Greater Albuquerque Association of Realtors says that in the current seller market, many homes are selling quickly and often have multiple offers. This means those moving to the area for Intel will have to act fast.