Is the Housing Market About to Implode?

Inside the Hive

Vanity Fair

News

4.2 • 1.5K Ratings

🗓️ 14 September 2018

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

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Summary

A decade ago this week, America officially entered the worst financial collapse since The Great Depression. Now, as Donald Trump rolls back regulations meant to protect consumers, some fear that we are about to see another housing collapse? Spencer Rascoff, the CEO of Zillow, joins Nick to discuss this and everything housing-related, from the future of the industry to how most poor and middle class Americans have been priced out of buying a home. Then Nick and Jon Kelly discuss this week in Trumpland, and how the White House is in a feverish state of tumult after the release of the Bob Woodward book, "Fear." Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Shuttle Hey Summer, Summer, can you say welcome to inside the hive?
0:05.0	Welcome, inside the hive.
0:08.0	I am your host?
0:10.0	I am your host Dodgers. No, Nick Bilton.
0:14.0	Nick Bilton in the Dodgers games.
0:17.0	Yeah, Nick Bilton in the Dodgers game.
0:21.0	That was my three-year-old son who insisted on helping me do the
0:25.2	introduction to the podcast this week even though he has no idea what a
0:28.2	podcast is or even an introduction for that matter actually but he is pretty freaking cute he also has no
0:35.8	idea what this week's show is all about because he wouldn't be able to understand
0:40.2	we're going to be talking about the housing market and if you remember a decade ago
0:44.4	this week we were smack in the middle of one of the worst financial problems since
0:48.5	the Great Depression as a result of faulty loans banks being able to do whatever they wanted, the housing market
0:54.8	had collapsed and the American banking system was on the brink of total failure.
0:59.8	It was really, really, really chaotic back then.
1:02.3	I was working in the New York Times Newsroom at the
1:04.3	time in the business section and I remember the looks on some of the editor's faces
1:08.7	as we watched these banking systems that had been around for decades just falling apart.
1:14.0	Well, after this all happened, of course, there were regulations put in place to try to stop it from happening again.
1:20.0	And then, of course, Trump came into power, wanted to help his buddies out in the banking system,
1:24.8	and all those rules and regulations were taken away, including the Dodd-Frank regulation, which Trump said was
1:30.4	crippling and crushing banks.
	...

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