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Plain English with Derek Thompson

What's Going on With the U.S. Housing Market?

Plain English with Derek Thompson

The Ringer

News, News Commentary

4.72.1K Ratings

🗓️ 24 May 2022

⏱️ 52 minutes

🧾️ Download transcript

Summary

It's our first Curiosity Corner podcast! We asked you to tell us what questions you wanted us to answer, and a lot of you had the same thought on your mind: housing. In this podcast, we answer: What's going on with the U.S. housing market? Is this a bubble? Is it bursting? Why are homes in America so expensive? Why are we so bad at building houses? Why is there so much homelessness in America's richest cities? The Atlantic's Jerusalem Demsas comes on the show to share her theories with Derek, and Derek explains why he thinks every important question about the U.S. housing market has the same fundamental answer: inventory, inventory, inventory. Keep sending your questions at PlainEnglish@Spotify.com. Host: Derek Thompson Guest: Jerusalem Demsas Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

What's up guys Rachel Lindsay here and I am teaming up with your favorite

0:04.0

Ringer podcasters to deliver the bravo drama and news that you've been craving on morally corrupt.

0:10.0

It's the show about all things bravo from the housewives to summer house and everything in between.

0:17.0

We'll be mentioning it all every week check it out on Spotify and the Ringer.com.

0:23.0

Today's episode is about the US housing market.

0:33.0

This is our first curiosity corner episode.

0:37.0

Curiosity corner is this new thing that we're doing on plain English where we ask for your curiosity,

0:42.0

your questions, your anxieties, and then we try to answer those questions on the podcast.

0:46.0

And it seems like in the first few batches a lot of you had the exact same curiosity question anxiety, namely housing.

0:54.0

So in this podcast we answer all of your housing curiosities.

0:57.0

What's going on with the US real estate market? Is this a bubble? Is it bursting?

1:02.0

Why are homes in America so expensive? Why are we so bad at building houses in the first place?

1:06.0

And why is there so much homelessness in America's richest and dare I say most liberal cities?

1:14.0

The Atlantic's Jerusalem Demsys is today's guest. She is probably the sharpest and most entertaining housing writer that I know.

1:22.0

And she answers all these questions and more getting into the deep roots of why America sucks so much at building not only houses,

1:29.0

but also building highways, building green energy projects, building basic infrastructure.

1:34.0

But first a couple of points about the US housing market today to ground our discussion.

1:40.0

First, the US housing market is there's no other way to put this. It's been really, really crazy.

1:46.0

Like if you've tried to buy a house or apartment condo in the past few years, you have dealt with so much shit.

1:54.0

You've probably tried and failed to buy several different properties. You've probably discovered that approximately 100 people put in offers for every new home that is listed.

2:04.0

You've probably tried to offer like 20-30% of her listing and lost to somebody who went 60% over all cash.

2:11.0

And this is all because in the last year, just about every housing statistic you can imagine sets some kind of weird ass record.

...

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