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Today, Explained

Buy a house? In this economy?

Today, Explained

Vox

Daily News, Politics, News

4.49.5K Ratings

🗓️ 28 March 2024

⏱️ 28 minutes

🧾️ Download transcript

Summary

Home affordability hasn’t been this bad in decades. Wall Street Journal housing reporter Nicole Friedman explains the economic forces shaping the market. And Dave Ramsey, the popular, controversial finance guy, says this time isn’t that different. This episode was produced by Amanda Lewellyn, edited by Jolie Myers, fact-checked by Kim Eggleston and Laura Bullard, engineered by David Herman, and hosted by Noel King. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Listen, I'm 24 and I still live at home. Like, what? For sure. Are you kidding me? My man and

0:07.6

I we attempted to move out. Yeah, that'll be $1,600 for a studio apartment, not including real estate, not

0:13.5

last fall, the National Association of Realtors released data showing that housing affordability

0:18.6

had fallen to its lowest point since the 1980s, reasons of economy comma American.

0:25.1

There just aren't a lot of home sales going on and there's really kind of a

0:30.2

standoff right now between buyers and sellers. That standoff leads to another kind of a standoff right now between buyers and sellers.

0:33.2

That standoff leads to another kind of standoff.

0:35.8

It's always fine being 40-something years old

0:38.0

and having to live with your parents again.

0:40.1

And I know it's all my fault. Sir, I don't know your life, but today on today explained it might not be your fault.

0:48.0

Our housing reality bites, the American dream is in your childhood bedroom, coming up how we got here, and some provocative advice on how to deal.

0:57.0

Okay. Okay, mint, mint, mint, mint, okay. You wouldn't pay $15 for a cold brew, and you never

1:10.4

spent $250 to see a movie.

1:12.8

So why are you paying so much for your cell phone plan?

1:15.6

Mint Mobile offers premium wireless plans for $15 a month.

1:19.1

That's a-

1:19.3

Hey Jimmy, honey, do you want pasta? Hey mom, I'm recording right now.

1:25.0

Cut your wireless bill to $15 a month at Mint Mobile.com

1:30.0

slash explained.

1:31.0

Upfront payment of $45 required equivalent to $15 a month.

1:34.6

Additional taxes fees and restrictions apply.

1:36.6

C Mint Mobile for details.

...

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