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How to fix the housing market
Sep 5, 2024
Aiden Reiter, an expert in economic strategies, discusses the pressing issues in the US housing market. The conversation dives into the alarming rise in home prices and stagnant supply, reflecting on the affordability crisis faced by many Americans. Proposals from political figures like Vice President Harris and former President Trump are scrutinized for their feasibility. The talk also covers challenges posed by local zoning laws and the slow pace of new construction, while offering insights into the complexities of the Turkish equity market and yield curve dynamics.
23:06
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Quick takeaways
- The American housing market struggles with high prices due to insufficient supply, exacerbated by rising interest rates and stagnant construction rates.
- Proposals from politicians to increase housing supply face challenges from complex local zoning laws, requiring federal initiatives to be strategically aligned with local regulations.
Deep dives
The Housing Market Crisis
The current state of the American housing market is characterized by a severe shortage of homes, leading to skyrocketing prices that have reached historical highs. Data indicates that despite rising prices, homebuilders have failed to increase supply, largely due to a prolonged dearth in home construction over the last several years. Compounding this issue, high interest rates have discouraged builders from initiating new projects, causing a significant gap between housing permits and actual starts. As a result, affordability has drastically decreased, with the Atlanta Fed reporting that housing costs are now more burdensome relative to median income than ever before.
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