Buying a home may not be the best option now, but don't give up forever. Renting shouldn't have a stigma. Housing prices are stubbornly high due to slow market adjustments and homeowners' reluctance to sell for less than their investment.
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:
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.