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Plain English with Derek Thompson

Why It’s So Hard to Buy a House Right Now—and Why It Might Get Better Soon

Plain English with Derek Thompson

The Ringer

News Commentary, News

4.81.8K Ratings

🗓️ 8 December 2023

⏱️ 46 minutes

🧾️ Download transcript

Summary

Today, we’re examining the U.S. housing market, starting with a specific question: Should you look to rent or buy your next home? By some metrics, this is the worst time to buy a house in 40 years. Housing prices are near record highs, especially compared to local rents. For many young people, the dream of homeownership might seem completely impossible right now, thanks to huge national demand colliding with short supply, especially in high-income areas. Meanwhile, high mortgage interest rates have failed to reduce home prices, as owners are rate locked into their old mortgages. When will this sorry state of affairs turn around? Mark Zandi, the chief economist of Moody’s Analytics and host of the Inside Economics podcast, joins the show to answer our questions. If you have questions, observations, or ideas for future episodes, email us at [email protected]. Host: Derek Thompson Guest: Mark Zandi Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

What's up everybody? It's Austin Rivers from Off Guard and I've got some exciting news.

0:04.8

Off Guard hosted by me and my guy Pasha Gigi is officially moving to our own

0:08.8

podcast feed. We are now dropping two shows every week. Me and Pasha go way back and talk so much hoops already

0:15.2

that we figured it was time to fire up the mics and let you in on these conversations.

0:19.2

Every week, Pasha and myself will hit on the biggest stories happening around the league.

0:23.0

Tapp into the show twice a week on our new off-guard feed on Spotify or wherever you get your

0:27.9

podcast.

0:28.9

You could hit the slopes without an instructor.

0:35.0

Or you could have a go at cutting your own hair.

0:38.0

Heck, why not? You should rewire the house.

0:41.0

At 80s, you're a master, we think there are times when things are better left to the experts,

0:46.0

things like vehicle maintenance and getting yours through the winter.

0:49.1

Pick up a set of Michelin cross-clim at two tires and drive with confidence whatever the weather

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0:56.7

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for 899 a month it's on prime geographic restrictions and

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teasencies apply 18 plus

1:21.1

today is a deep dive into the US housing market which begins with a very specific question.

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