Ken McElroy Show
The Housing Market Freeze: Who’s Buying and Why?
Jan 9, 2025
Explore the complexities of today's real estate market, including skyrocketing home prices and the challenges first-time buyers face. Delve into the impact of AI on traditional jobs and discover the shift towards vocational careers over college degrees. Learn about banks' strategies to manage commercial loan challenges and uncover promising real estate investment opportunities amid economic uncertainty. The conversation reveals the hidden costs of homeownership and the implications of regional disparities in construction and affordability.
55:18
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Quick takeaways
- Current high interest rates are significantly impacting homeownership affordability, pricing many potential buyers out of the market.
- The rise in home building permits and new construction offers hope for affordable housing amidst ongoing challenges in the housing sector.
Deep dives
Decline of Domestic Manufacturing
In 1980, 70% of clothing worn by Americans was produced domestically, while that number has plummeted to just 2% today. The primary reason for this shift is the cost advantage of manufacturing overseas, which has led many textile companies to relocate their operations outside the U.S. Despite this trend, a small number of companies, such as American Giant, have remained committed to American manufacturing. By investing in domestic production, these companies help create jobs in local factory towns, highlighting the importance of supporting brands that prioritize local manufacturing as consumer choices can influence overall economic trends.
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