Home prices could fall, but is it a bubble?
The Indicator from Planet Money
NPR
4.7 • 9.2K Ratings
🗓️ 2 June 2022
⏱️ 10 minutes
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| 0:00.0 | NPR. |
| 0:03.4 | Are we in a housing bubble? |
| 0:14.6 | Are we in a housing bubble? |
| 0:16.2 | Are we in a housing bubble? |
| 0:17.6 | It is a big question on the minds of a lot of people, right? |
| 0:20.4 | Because whether you've been trying to buy a house or you just bought one, home prices have |
| 0:24.8 | been going bananas, up more than 30% in just the past couple years. |
| 0:29.7 | And in some places, the run-up is even more dramatic. |
| 0:32.2 | If you factor in mortgage rates in some places, it's gotten twice as expensive to buy basically |
| 0:36.8 | the same house in two years. |
| 0:39.1 | Yeah. |
| 0:40.1 | This is a historically fast increase. |
| 0:43.0 | And naturally, people are starting to wonder, is the housing market growing so fast that |
| 0:47.8 | this pricing bubble we seem to be in will eventually burst? |
| 0:52.5 | And home values will crash. |
| 0:54.5 | And it's not unreasonable to actually get worried about this, right? |
| 0:59.4 | Because last time around, the housing bubble burst in the late 2000s. |
| 1:03.0 | And the result was millions of people lost their homes to foreclosure, millions more lost |
| 1:07.4 | their jobs, declared bankruptcy. |
| 1:09.6 | The entire country went into the great recession. |
| 1:13.6 | This is the indicator from planet money. |
| 1:15.2 | I'm Chris Arnold. |
... |
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