Homebuyers Have More Leverage. So Why Is Buying Still So Hard?

In this episode of the Real Estate Update Podcast, host Paul Centopani speaks with Vivek Sah, Director of the Burns School of Real Estate and Construction Management at the University of Denver, about why homebuyers may have more negotiating leverage even as buying a home remains increasingly difficult. Vivek explains how higher mortgage rates, rising labor and material costs, land prices, property taxes, insurance, and other expenses have contributed to today’s housing affordability challenges.The conversation also looks at the mismatch between the homes many buyers can afford and the homes being built. Vivek explains why much of the available new construction is concentrated at higher price points, while demand remains strongest for more affordable homes. He also discusses why some buyers are turning to new construction because of builder incentives and mortgage rate buydowns, as well as how rising housing costs are contributing to delayed homeownership, greater demand for single-family rentals, and more multigenerational living arrangements.Vivek also shares his perspective on how first-time homebuyers can prepare financially for homeownership and why he still sees owning a home as an important long-term wealth-building tool for buyers who expect to remain in one place for several years. He discusses budgeting, reducing discretionary expenses, building equity over time, and how home equity can provide financial flexibility later in life.Subscribe for more mortgage news, housing news, homebuyer tips, and real estate market updates.Comment below: What has been the biggest challenge for you in today’s housing market: home prices, mortgage rates, monthly costs, or finding the right property?Connect with Mortgage Research Network:YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@MortgageResearchNetwork⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/mortgageresearchnetwork/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/mtgresearchnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MortgageResearch.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connected With Vivek Sah:LinkedIn: ⁠https://www.linkedin.com/in/vivek-sah-phd-9b756714/⁠First Time Homebuyer Cheat Sheet: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4w8CiVM⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Homebuyer Calculators: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4n0hDPv⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect With a Lender: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/426Gyaw------0:00 – Intro0:27 – Is It Really a Buyer’s Market?2:02 – Why Housing Affordability Got So Difficult5:27 – Where Have the Starter Homes Gone?7:34 – How Buyers Are Adapting11:13 – Builders Respond to Multigenerational Living12:07 – Is the American Dream Changing?14:23 – How Buyers Can Improve Affordability16:54 – Advice for First-Time Homebuyers20:19 – Outro------#HousingMarket #Homebuying #FirstTimeHomebuyer