Why Buying a House May Not be Affordable Any Time Soon
The Brian Lehrer Show
WNYC
4.6 • 1.5K Ratings
🗓️ 8 December 2023
⏱️ 31 minutes
🧾️ Download transcript
Summary
Mortgage rates are high, and housing supply is low, which means buying a home is particularly unaffordable right now. Annie Lowrey, staff writer at The Atlantic and the author of Give People Money: How a Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World (Crown, 2018), explains why this is, and why it may not get better any time soon.
→"It Will Never Be a Good Time to Buy a House: Maybe in 2030?" (The Atlantic, Nov. 26, 2023)
Transcript
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| 0:00.0 | It's the Brian Larra Show on WNYC. |
| 0:13.2 | Good morning again everyone. |
| 0:14.8 | With us now, Annie Lowry, who writes about money and politics for the Atlantic. |
| 0:19.2 | And she wrote the 2018 book, Give People Money, |
| 0:22.4 | how a Universal Basic Income would End Poverty, Revolutionize |
| 0:26.1 | Work, and Remake the World. |
| 0:28.4 | Well based on an Atlantic article she wrote last week, maybe she should write a new book called Give People Home Ownership. |
| 0:35.1 | The article is called It Will Never Be a Good Time to Buy a House, well maybe in 2030. |
| 0:40.6 | And this isn't just about New York and San Francisco and places like those. |
| 0:44.0 | This is a national take and no it is not primarily about the recent rise in mortgage interest rates. |
| 0:50.0 | We'll also touch on some other recent Annie Larry articles as she just keeps |
| 0:54.5 | provoking us to think more deeply about money and politics kinds of things with |
| 0:59.0 | articles like her newest one called inflation is your fault and recent ones like maybe don't drive into |
| 1:06.5 | Manhattan is single parenthood the problem if you're worried about the climate move your money and the new meaning of tattoos. |
| 1:15.7 | Annie, always good to have you, even though our main hook today is your housing Dumloupe article. |
| 1:20.7 | Welcome back to WNYC anyway. |
| 1:23.0 | Thank you for having me for more bad news. |
| 1:27.0 | Yeah, well let's first establish that you say |
| 1:30.0 | unaffordable home buying prices are not just in the big cities like New York in San Francisco right now. |
| 1:34.6 | How national a problem are you describing here? |
| 1:38.6 | There are certainly places where homes are still affordable for middle-income families. |
| 1:45.0 | They're absolutely places. |
... |
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