The Importance of Supply in Home Prices

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Both the US and the UK have shortages that have driven up home prices. The irony is that we are in an era of rising interest rates, which theoretically should dampen demand for homes. Redfin put out a recent study that said for a typical home, prices have only declined about 1.6%.

EY’s global chief executive Carmine Di Sibio says he is planning to retire next year, and the FT’s Joshua Franklin explains the impact of JPMorgan settling a lawsuit over its 15-year relationship with Jeffrey Epstein. Plus, in the fourth and final part of our housing series, we look at what the government can do to bring down prices.

Mentioned in this podcast:

EY chief Carmine Di Sibio to retire after failure of split plan

JPMorgan to pay up to $290mn to settle Epstein accusers’ lawsuit

The Fed’s waiting game: is the US economy finally starting to crack?

How stubborn inflation has undermined the UK housing market

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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