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
A lot of people got raises because there's been a historic labor shortage that is giving workers more power to demand raises.
And, you know, some people have decided that they've just kind of made peace with higher interest rates as well, thinking that, you know, I might be paying double the rate that I would have paid a year ago, but at least I'm buying a home.
The payment is locked in for years to come.
I'm not going to have to deal with a rent increase.
I'm building equity.
I get tax benefits from buying a house.
There are all sorts of benefits to homeownership that are causing certain people to look past the extra burdens of higher rates and higher costs.
which in some ways kind of bolsters you against inflation, even if you are sort of dealing with the effects of it during your purchase.
We've seen a little bit of a narrowing in the most recent month of data that the median mortgage payment fell a little bit in July.
This is according to data from the Mortgage Bankers Association, which is a trade group that they track payments from mortgage application data because people are either buying smaller homes.
We had interest rates dip a little bit over the summer.
But if you do get sort of a settling down of home prices, which home price growth has slowed a lot in the last few months, if mortgage rates moderate or fall a little bit, you know, you can get sort of an easing of the affordability challenges that we've seen recently.
That said, I think few people are expecting interest rates to fall back to where they were a year ago anytime soon.
But there is sort of a relative easing of the affordability issue going on.
Thanks for having me.
You're seeing it in parents helping children buy houses.
You're seeing it where money is going to philanthropy.
And you're seeing it in new business formation.
Well, what we've seen over the last few decades is that a lot of factors have sort of collided to put just an extraordinary amount of wealth in the hands of people who are over 70, sort of the oldest generations of Americans.
And that 27% of wealth that they have, that people over 70 have, is up from about 20% 30 years ago.
Showing 381–400 of 1,467 · page 20 of 74
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