Hello and welcome. It is Eric Erikson here. It is my show and I'm delighted to have you with me.

I hope the weather is beautiful where you are. The phone number is 877-97-9-7-3-7-4-25 should you wish to be a part of this program.

There is a problem in the United States of America. This is actually

a real problem and it has long-term consequences for society. There's a housing shortage. I'm not

talking about affordable housing for the poor, subsidized housing.

I am talking specifically about starter homes for people who want to buy them.

People who buy homes early tend to have higher net worth later in life because they have so much home equity,

they have more flexibility in what to do with it.

So if you buy a house in your 20s, you're more likely than not going to have about

$300,000 to $400,000 more in net worth than someone who buys a house in their late 30s

who's going to have more net worth than someone who buys a house in their late 30s who's going to have more net worth

than someone who buys their first house in their 40s.

But people can't buy new starter homes.

They can't buy old starter homes.

They can't buy a house.

When my wife and I got married, we were somewhat fortunate.

Her grandmother had died and left her a small amount of money, and it was small

enough to put down a down payment on a $100,000 house.

We actually bought the house for about, I want to say we bought it for $100,000 house. We actually bought the house for about,

I want to say we bought it for $110,000.

It's about 2,800 square feet,

had a half acre yard.

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