Think It’s Expensive to Buy a Home? Try Owning One.

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 18 April 2024

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s not just the cost of buying a home that’s going up. It’s also the hidden costs — like taxes, maintenance and insurance — that are going through the roof. WSJ’s Nicole Friedman explains why these prices are rising so fast, and what it means for the housing market. Further Listening: -'It's on Fire': Why the Housing Market Is Booming Further Reading: -The Hidden Costs of Homeownership Are Skyrocketing -Home Buyers Are Ready to Buy. But Sellers Aren’t Selling. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello, this is Cameron.
0:07.0	This is Cameron.
0:10.0	Hey Cameron is Ryan Knutson from the Wall Street Journal.
0:13.0	Hey Ryan, how are you?
0:14.0	You have to forgive me. I've got a bit of laryngitis at the moment.
0:18.0	Well, that seems to be going on down here too, so I forgive you.
0:23.4	Thanks yeah it's not great when you host a podcast for a living but yeah.
0:28.6	Yesterday I spoke to Cameron Ford. He's 35 years old and he lives in Anderson, South Carolina, with his wife and three young kids.
0:40.0	I wanted to talk to him about being a homeowner.
0:44.0	Our home is really kind of our dream home.
0:46.6	It's got a nice big yard and it's pretty close to our work
0:50.8	and it's fit us perfectly for what we were looking for.
0:55.0	Did you feel like you'd like made it like you'd sort of like achieve the American
0:59.4	dream? I would definitely say that we were happy with what we got and we ended up with and it felt good.
1:07.0	When it comes to the housing market, Cameron is one of the lucky ones.
1:12.0	In 2021, when he bought the house house he was able to get a really
1:15.5	low interest rate on his mortgage, less than 3%. Today interest rates are hovering around 7%.
1:23.0	I also bought a condo in early 2022,
1:31.0	just before interest rates started going up the feeling that I had was like
1:38.0	running like you know you're trying to run to get into the house and the garage door is closing and you just like slide underneath
1:44.8	it right as the door closes behind you like that's how I feel as somebody who bought a place a couple
1:50.6	years ago. Yeah and then you grab your Indiana Jones hat at the last second.
	...

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