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The Unspeakable Podcast
What's Really Happening With The Housing Market? Melody Wright sees a coming crash.
Sep 23, 2024
Melody Wright, a housing market analyst and rising YouTube star who navigated the Great Financial Crisis, discusses the current housing affordability crisis. She reveals that while low inventory is a concern, many homes sit empty due to oversaturation in new construction. Melody highlights similarities between today's market and the 2008 crash, and critiques the media's failure to adequately cover these issues. She also shares practical advice for young buyers and uncovers surprising truths about housing market dynamics.
01:14:43
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Quick takeaways
- The housing market faces a severe affordability crisis, with median home prices far exceeding average income levels, affecting homeownership dreams.
- Institutional investors have distorted the housing market by inflating prices and outbidding individual buyers, creating a scarcity of affordable homes.
Deep dives
The Housing Affordability Crisis
The current housing market in the United States is marked by a significant disparity between high home prices and median income levels. With a median home price reaching approximately $426,000 and a median income averaging around $78,000, many individuals and families are finding it increasingly difficult to afford homeownership. This financial strain is compounded for younger generations who feel that the prospect of homeownership is slipping further out of reach. The discussion highlights the importance of addressing this affordability crisis as it directly impacts the American dream of owning a home.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode