The Daily Should You Rent or Buy? The New Math.
302 snips
Dec 1, 2023 
David Leonhardt, a senior writer for The New York Times and author of "The Morning" newsletter, delves into the housing crisis facing millennials. He discusses soaring mortgage rates and challenges of homeownership in today's market. Leonhardt prompts listeners to rethink the traditional buy versus rent narrative, emphasizing financial burdens and the potential advantages of renting. He shares personal insights on the emotional facets of homeownership and how generational wealth is affected by current housing dynamics.
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Renting Is Okay
- Give up on the idea that you must buy a home.
- Don't feel bad about renting; it has an unfair stigma.
Why Housing Is Different
- Housing isn't a normal market; it adjusts slowly to interest rate hikes.
- Homeowners are often unwilling to sell below a certain price, preventing price drops.
Millennial Housing Challenges
- Millennials struggle with homeownership due to limited savings and lower incomes.
- They haven't had as much time to accumulate wealth as older generations.