Episode 54: It's been difficult for first-time homebuyers to find affordable housing

Home prices have been rising making it more difficult for first-time homebuyers to enter the market.First time homebuyer age average went up to 36. Some reports are even saying 41.So when rates go higher, younger families can't afford to get into these higher-priced homes. There's demand, but not at higher rates. The Fed wants to crush inflation in housing components is a big part of it. New listings are decreasing in America.There's only 620,000 listings. The weekly listing data that Altus Research released shows that we are entering this year with a low supply.If the Fed is going to keep rates higher for longer, it doesn't mean that houses are going to be built.Housing has been in pretty much a full-blown recession.#housing #homeprices #housingsupply #housingrecession #affordablehousing #homebuyers