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Ken McElroy Show

A Grim Warning to Home Buyers (It's Getting Worse) - Live Stream Replay

Jun 25, 2024
Real estate experts Ken and Danille McElroy discuss the challenges in the current housing market, including skyrocketing prices and supply-demand crisis. They explore the impacts of rising home prices, interest rates, and inflation on buyers. The conversation also delves into the complexities of investing in multifamily real estate and contrasts the current market with the 2008 crisis.
38:15
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Episode guests

Ken McElroy
Danille McElroy

Podcast summary created with Snipd AI

Quick takeaways

  • US home prices have hit record highs, making it challenging for families to qualify for mortgages.
  • Speculation suggests the Federal Reserve may need to lower interest rates to address the supply-demand imbalance in the housing market and stimulate the economy.

Deep dives

Impact of High Home Prices

Home prices in the US have hit record highs, with the cost of homes climbing for the 11th consecutive month in May, up 5.8% from the previous year, reaching an average of $419,300. This surge in prices has led to an all-time low in housing affordability, making it challenging for families to qualify for mortgages without significant funds upfront, highlighting the strain on potential homebuyers.

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