The Clark Howard Podcast
12.23.24 2025 Home Price Projections / The Average 401(k) Balance
Dec 23, 2024
The hosts delve into predictions for home prices in 2025, discussing how factors like mortgage rates and income will impact affordability. They explore secure payment options, particularly focusing on virtual card numbers and rental car toll management. The conversation shifts to the sobering statistics of average 401(k) balances, emphasizing the need for better retirement planning. Personal anecdotes highlight credit building strategies for teenagers and essential safety tips for homeowners with pools.
35:33
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Quick takeaways
- Home buyers are facing inflated prices and higher mortgage rates, but gradual income increases may enhance affordability over time.
- Many approaching retirement have insufficient 401(k) savings, highlighting the need for proactive financial planning and investment strategies.
Deep dives
Effect of Economic Factors on Home Prices
Current economic conditions have created a challenging environment for home buyers, with rising prices and higher mortgage rates impacting affordability. Buyers today face significantly inflated home prices compared to earlier years when both prices and rates were more favorable. However, as incomes gradually increase, housing may become more affordable relative to these income gains, even though prices are unlikely to decrease significantly in the near term. Inventory levels are rising, leading to some stagnation or slight declines in home prices in various regions, indicating a normalization in the real estate market.
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