Is the Housing Market Worse Than 2008? Ken Debates with Melony Wright
Ken McElroy Show
Ken McElroy
4.7 • 712 Ratings
🗓️ 19 February 2026
⏱️ 48 minutes
🧾️ Download transcript
Summary
The housing market is broken, but is a crash actually coming? Ken and Danielle McElroy talk with housing analyst Melody Wright to debate affordability, credit risk, 2008 comparisons, and what the data is really telling us about where prices are headed.
Follow Melody on X at @m3_melody or on Substack at https://m3melody.substack.com
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Today's guest is someone you might have heard of. Her name is Ms. Melody Wright, and she is very well-versed in the housing space. |
| 0:09.6 | And her and Ken have different opinions in what's going to happen in the next few years in housing. |
| 0:14.2 | And they had a great debate that we're going to pop right into. |
| 0:17.5 | So I'm going to be the moderator here between Ken and Melody because, you know, |
| 0:23.0 | while you guys agree on some things, you also disagree on some things with the housing market. |
| 0:27.8 | And I think it'd be really interesting to get two very intelligent people's opinion and |
| 0:32.7 | let the audience kind of learn and decide for themselves. So I wanted to start with affordability being a core |
| 0:40.7 | issue on whether prices crash or stabilize. So Ken, do you believe that affordability right now |
| 0:49.0 | is an issue for the average home buyer? Huge, huge problem. Yeah, both obviously on the mortgage |
| 0:53.9 | side and on the, you know, if you own a home, you know, huge problem. Yeah, both obviously on the mortgage side and on the, |
| 0:55.2 | you know, if you own a home, you know, all the costs to own that home, property tax insurance, |
| 1:00.5 | you know, utilities, those kinds of things. So yes, affordability is a big deal, |
| 1:05.0 | really on their own community as well. And then Melodya, how do you feel about affordability |
| 1:10.3 | currently and how that's playing into |
| 1:12.0 | everything? Yeah, I think that is the deal. And that's why we've had such a frozen housing |
| 1:17.8 | market, you know, with the worst sales since 1995 on the existing home side. We've increased |
| 1:23.5 | population by 20%. There's something wrong, obviously, in the housing market. And I think |
| 1:29.1 | is that, you know, really your first time homebuyers have been priced out by investors and they can't |
| 1:34.2 | afford, you know, to move to to form households. So yes, huge problem. So Melody, would you, |
| 1:41.4 | do you think that this market is fundamentally different than 2008 or do you think that this market is fundamentally different than 2008? |
| 1:45.8 | Or do you think that this is a similar market to 2008? |
| 1:49.4 | I think there are differences and similarities. |
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