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Life Kit

Rational Advice For A Chaotic Housing Market

Life Kit

NPR

Business, Kids & Family, Health & Fitness, Education, Self-improvement

4.54.9K Ratings

🗓️ 25 May 2021

⏱️ 12 minutes

🧾️ Download transcript

Summary

Home prices have shot up in the last year. But with so many people eager to buy, the competition is stiff. If you're in the market to buy a home, this episode offers some advice for how to navigate this seemingly impossible market.

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Transcript

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0:00.0

This is NPR's life kit. I'm Michelle Martin.

0:03.8

Buying a home is a big part of the American dream, but that dream feels harder than ever to achieve right now

0:09.6

There is a record shortage of homes for sale and with so many people eager to buy bidding wars are breaking out

0:16.0

That set prices to record highs the average home in America now sells for more than

0:22.0

$340,000 so if you're still in the market to buy a home

0:26.0

How do you navigate the seemingly impossible market with me now as Chris Arnold and PR correspondent and frequent life kit host

0:33.1

Hi Chris. Hey, Michelle

0:34.9

So set up the problem for us just how hard is it to buy a home right now and by that

0:39.8

I mean, you know the whole deal single family home townhouse condo no difference. Yeah, so journalists like to exaggerate sometimes

0:47.8

To make things sound bigger than they are, but in a lot of ways it really is

0:52.5

Harder than ever before to buy a house and we just got the latest monthly report from the National Association of Realtors

1:01.5

And it's saying that there's a record one year price gain in homes

1:06.4

19% in a single year that is just off the charts and

1:10.6

I talked to one couple their first time home buyers in the Boston area

1:14.0

Rebecca Amitrano and Dan Johnson you imagine your life in this house you put in an offer and then two days later

1:22.4

It doesn't get accepted and it's to meet for me. It's like very emotionally crushing

1:29.0

So I meditate a lot

1:31.1

Practicing non attachment not to sound like

1:34.1

Holier than now or whatever and these guys that the couple actually knows quite a bit about attachment and emotions because they're both

1:40.8

Psychologists so you think well who better to manage this very frustrating housing market

1:45.7

But they're getting pretty frustrated too

1:48.0

They keep going to open houses and they've been doing it for months and they were just getting out bid

...

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