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Marketplace All-in-One

Let’s do the numbers on buying versus renting

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 16 December 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

New data from the real estate firm CBRE shows that the average monthly mortgage payment for those buying a home today is about 75% higher than in 2019. Nationally, new monthly mortgage payments are now about 35% more than renting. We’ll hear more. But first: A clash is shaping up over whether California can set strict vehicle emissions and efficiency standards. Plus, who’s ahead in the AI arms race — Microsoft? Google? Meta?

Transcript

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0:00.0

An era where renting is more often a better deal than buying a home.

0:06.4

I'm David Brancaccio. First, a clash is shaping up over whether California can set strict vehicle emissions and efficiency standards.

0:14.4

The federal EPA is part of this, and now the U.S. Supreme Court.

0:17.8

Justices have agreed to consider whether the oil industry can directly challenge vehicle emissions rules, even though they're not automakers.

0:25.4

Marketplace's Nova Safo is here with more, Nova.

0:28.3

Well, David, we're very likely heading for a clash because California wants to set even tougher vehicle emission standards than what Donald Trump objected to during his first term in office.

0:37.3

This time around,

0:38.1

it would be a ban on the sale of all new gasoline engine vehicles in the state starting in 2035,

0:43.3

new cars, not ones still on the road. California needs a waiver from federal rules to set this

0:48.2

tougher standard. There are multiple reports now that the Biden administration is about to grant

0:52.1

that waiver. And what happens in California,

0:54.7

of course, is crucial because it's the biggest car market in the country. It has huge sway

0:59.2

over the auto industry. But the president elected said he would reverse this if the Biden people

1:05.5

send it through, right? Well, he has certainly suggested as much in a social media post,

1:10.3

and he's emphasized boosting

1:11.9

oil and gas production when he was running for office and getting rid of electric vehicle

1:16.1

incentives. Now, during Trump's first term, he did revoke California's waiver. The state

1:20.9

mounted a legal challenge left unresolved because the Biden administration reversed Trump's

1:25.8

decisions. Now we could be headed, David, for a repeat of that legal fight.

1:30.7

And now the U.S. Supreme Court is saying it will have a voice in this?

1:34.4

Right. Justice says they will hear oral arguments over whether the oil and gas industry can challenge California's current EPA waiver. California gets these on a regular basis.

1:42.9

The Supreme Court hearing could be over a technical question regarding standing, and depending on how it rules, it gets these on a regular basis. The Supreme Court hearing could be over a

...

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