The Benefits of Long-term Homeownership and Intergenerational Wealth Creation

For many millennials, buying a home has become almost entirely out of reach. Average 30-year mortgage rates are hovering around 7 percent — the highest they’ve been since 2007 — largely because of the Federal Reserve’s efforts to tame inflation.

David Leonhardt, a senior writer for The New York Times, discusses whether it is time to change how we think about buying vs. renting.

Guest: David Leonhardt, a senior writer for The New York Times. He writes The Morning, The Times’s flagship daily newsletter, and also writes for Sunday Review.

Background reading: 

• Are you ready to buy a home? Should you rent? Take our quiz.
• From Opinion: Millennials are hitting middle age — and it doesn’t look like what we were promised.
• The New York Times’ review of David Leonhardt’s book “Ours Was the Shining Future.”

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.