Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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Appearances
And this is according to a Redfin analysis.
It's really one indicator of just how much the actual housing market has slowed, that people who have agreements in place to buy houses are pulling out.
Because last year, you know, there was such a frenzy of buying that basically never happened.
So we've spoke with a number of people who were sort of at this fork in the road deciding whether to buy or rent.
And the folks that we spoke with decided to rent.
So we had people that were in contract to buy a house but had to pull out.
And then instead of looking for a new house, they decided to rent, just sort of waiting for the market to calm down a bit.
We spoke to another family that was moving from Colorado to Arizona, and they sold the house that they owned in Colorado and had to decide what to do when they got to Arizona.
But the housing market was prohibitive enough that they decided to rent, at least for the moment, hoping that, again, that they could sort of wait things out and buy a house when the market was more favorable for them.
What's really interesting about speaking with people who are going through this at the moment is that a lot of them really had all of their decks in a row.
They were ready to buy, they had the money in place to buy, but instead decided to rent.
So it wasn't as if they all of a sudden couldn't afford to buy, but it was that they were looking at the market, looking at what they had and what they were able to buy, and they decided, no, let's just stick with renting for the moment.
the family that moved to Arizona, one thing that they were looking at is that they sold a home for one price, but given the higher interest rates and the higher interest costs as a result, the actual home that they could afford was a less expensive home.
So they were still able to buy, but they were able to buy less with their money because of the extra interest costs.
And that kind of calculation is what prompted them to stick with renting for the moment.
Right.
It's important to note that it's not as if the entire housing market has shut down.
People are still buying.
And, you know, people are still in a pretty good position to buy.
A lot of folks built up savings during the pandemic.
Showing 361–380 of 1,467 · page 19 of 74
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