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

Plain English with Derek Thompson

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 [e-mail].

Host: Derek Thompson

Guest: Mark Zandi

Producer: Devon Manze

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