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Plain English with Derek Thompson
"The Weirdest Housing Market in Recent History"
Jul 12, 2024
Mike Simonsen, the data-driven mind behind Altos Research, and Lance Lambert, co-founder of the insightful Residential Club newsletter, dive into the perplexing U.S. housing market. They explore why prices remain sky-high despite plummeting demand and debate the eerie 'locking effect' of low mortgage rates stemming from existing homeowners. The duo analyzes regional discrepancies, the effects of rising interest rates, and the growing influence of individual investors, unpacking a market that seems both bizarre and unpredictable.
55:26
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Quick takeaways
- US housing market defies traditional expectations by soaring prices despite rising interest rates.
- Limited inventory and affordability issues stem from homeowners staying put due to favorable rates.
Deep dives
Overview of the House of Dragons Season 2 Podcast Episode
The podcast discusses the return of House of the Dragons Season 2, featuring a plethora of Dragonriders leading conversations weekly, including Talk the Thrones on Sundays with Chris Ryan, Joanna Robinson, and others, Turney's reactions by the Midnight Boys on Mondays, House of Ar and Deep Dives on Tuesdays, and Raven gatherings for trial by content on Thursdays. Video episodes are available on Spotify and Ringiverse YouTube channel, with podcast episodes on various platforms. The episode delves into the unique challenges of the US housing market, highlighting the unexpected market behavior despite rising interest rates, where home prices continue to soar without a decline, creating affordability issues and inventory constraints.
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