It’s hard to survive the 2023 housing market
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 December 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
While mortgage rates have been on the decline recently, this year has been, on average, the least affordable time to buy a home since the housing site Redfin started crunching the numbers 11 years ago. That’s on top of already sky high prices and limited housing inventory. Plus: a labor market in a healthy place, a strike at shipping company DHL and a beloved Korean street food.
Transcript
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| 0:00.0 | Hi, it's Sabrie Beneschoor with Marketplace. |
| 0:02.3 | Are you looking for a way to show off your love of Marketplace this winter? |
| 0:05.7 | Well, look no further. |
| 0:07.0 | We've got Marketplace hoodies, beanies, mugs, and new Marino wool socks. |
| 0:11.7 | Stay cozy this winter while making it clear that you |
| 0:14.7 | support public service journalism check out all of our thank you gifts and |
| 0:18.8 | make your year-end donation now at market.org. Donate. |
| 0:24.0 | People are getting jobs even as inflation comes down. |
| 0:28.0 | I'm David Brancaccio in New York. |
| 0:31.0 | There's news this morning the unemployment rate has fallen to |
| 0:34.7 | clicks to 3.7 percent. The data also show just under 200,000 more people were |
| 0:40.8 | on payrolls in November compared to October. |
| 0:43.4 | This is a stronger than expected labor market. |
| 0:46.0 | With these reports in hand, let's check in with Christopher Lowe, |
| 0:48.5 | chief economist at FHN Financial. |
| 0:50.9 | Not only did we get better than expected job growth, |
| 0:55.0 | we saw an unexpected drop in the unemployment rate of two-tenths, |
| 1:00.0 | and that drop in the unemployment rate came despite the fact that hundreds of thousands of people |
| 1:07.4 | entered the labor force this month. |
| 1:09.4 | So interesting, but this is consistent with an economy that's growing the right way. |
| 1:14.9 | It's not terribly inflationary and it suggests it's in a healthy place. |
| 1:19.8 | That's right. |
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