The Julia La Roche Show
#252 Melody Wright: The U.S. Housing Market Is In A Massive Bubble
Apr 29, 2025
Melody Wright, a writer and technologist with expertise in the housing market, dives deep into the current U.S. housing bubble. She debunks the myth of inventory shortage and reveals that March home sales dipped below 2008 levels amid population growth. Melody discusses Wall Street's influence, the surge of short-term rentals like Airbnb, and the ongoing effects of the 2008 crisis on today's market. With insights from her extensive road trip across America, she hopes to shed light on the struggles of millennial homebuyers seeking affordability.
29:27
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Quick takeaways
- The U.S. housing market is experiencing a critical bubble, with home sales plummeting below 2008 levels despite population growth.
- Challenging the 'inventory shortage' myth reveals hidden listings that could lead to a potential decline in housing prices.
Deep dives
Current State of the Housing Market
The housing market faces a critical situation characterized by unprecedented unaffordability, which has reached levels not seen since the 1960s. Home sales figures are alarming; March sales were lower than those recorded in 2008 during the global financial crisis, despite a significant population increase since then. Various factors have contributed to these conditions, including rampant speculation as many investors purchased properties during the COVID boom, driven by the false belief that remote work trends would sustain elevated prices. Consequently, the market is entrenched in a bubble, with an oversupply of housing and decreasing demand leading to a harmful cycle for potential homebuyers.
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