The U.S. Housing Market Has Homeowners Stuck

EPISODE OVERVIEW
With interest rates and mortgage rates high, homeowners have been reluctant to sell. What will it take to turn the U.S. housing market around? Wharton professor Lu Liu discusses what policy changes may be needed to break mortgage lock-in, which is restricting real estate inventory.
PODCAST OVERVIEW
Every day, business scholars answer pressing questions in their research - but what do their insights mean for you? In this podcast, Wharton faculty dive into what inspired their studies and how their findings resonate with the world today. Learn how research insights translate into knowledge you can use, with host Dan Loney.
Learn more at whr.tn/rippleeffect.
#mortgage #realestate #househunting #housingmarket #homeowners
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[@pwu8194]

When people put their home up for sale, they have to find another home to live in. They are just changing homes. It doesn't increase supply, because they give one and take one. The supply line isn't lowering the price enough to make homes affordable. In 1990s you only need to earn 25% of the price of your home to buy one. Today homes are so expensive, it's not just 4x your salary. Even in McAllen where average income is low, homes are costing $500K, which also means $12,500 annual property tax, when income is about $50,000.

[@BroVll888]

I need to lower the interest rates back to what it was or at least close to that's what they need to do to stop all this madness