How homeownership got so out of reach
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 20 August 2024
⏱️ 28 minutes
🧾️ Download transcript
Summary
The gap between median household income and median income for homebuyers in the U.S. has been growing, putting housing affordability in its “worst spot” in the last 40 years, an economist told us. In this episode: How homeownership got so out of reach. Plus, a tax deduction business owners love expires in 2025, community colleges that are more training ground than stepping stone, and the debate over open-source AI.
Transcript
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| 0:37.0 | 22. |
| 0:39.0 | You know how delivery services are always talking about how hard that last mile is? |
| 0:45.0 | That, but for interest rates. |
| 0:50.0 | From American public media. This is Tuesday, today the 20th of August. |
| 1:07.0 | Good as always to have you along, everybody. |
| 1:09.4 | The speechifying continues in Chicago tonight. |
| 1:13.0 | Our eyes, though, remain firmly fixed on Jackson Hole come Friday and what Fed Chair |
| 1:18.3 | J Powell is going to say. |
| 1:21.2 | Something about data, almost certainly, and the labor market and how the central bank is making |
| 1:26.9 | progress toward its 2% inflation goal. |
| 1:30.2 | All y'all know his list of particulars as well as I do. |
| 1:33.0 | What is not entirely clear though is what more the Fed's going to be able to do to get that economy to 2% |
| 1:40.6 | because as Powell himself and others have said on this program and elsewhere, |
| 1:45.0 | this last percentage point or so is going to be the hard part. |
| 1:50.0 | How hard and why is it so hard? |
| 1:53.0 | Marketplace's Kristin Schwab starts us off. |
| 1:56.0 | To understand what the Fed is up against in the coming months, year, however long it takes, |
| 2:01.0 | it's helpful to understand why the Fed will start cutting rates |
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