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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Perhaps there's some promise there. voice-verified
That said, if you have a house that was selling for $5,000 or $10,000 and it's doubled, it still might be too low in value for a traditional lender to come in and make a loan on it. voice-verified
So it's sort of case by case what's happening here, but there could be some promise. voice-verified
You have sort of a double-edged sword when you think about it. voice-verified
The rising home values in some neighborhoods, some community advocates say, actually sort of bring up the cost of homes enough that it's valuable to invest in them. voice-verified
So you draw in new investors because they can invest in homes with less of a risk that they will lose money on it. voice-verified
But on the flip side, there are questions about whether this locks some people out of homeownership if prices are rising and people who could afford homes before can't now. voice-verified
And then there's also questions about whether this will last. voice-verified
You know, you also had homes rising at the low end of the market prior to the last financial crisis. voice-verified
And there's concerns sort of across the housing market about whether all the price appreciation that we've seen will reverse or sort of where it goes from here. voice-verified
So this part of the housing market, in some ways, is kind of at the whims of the rest of the market as well, where it's been pretty crazy and no one really knows where it's going. voice-verified
So you hear all sorts of stories these days about people buying vacation homes sight unseen, about, you know, dozens of offers on a single house, you know, houses going into contract like a couple days after they hit the market.
Thanks for having me.
I think this really speaks to the kind of K-shaped nature of the recovery is the way many economists describe it, that you have sort of two separate diverging groups of people in terms of how they're faring in this economy.
And there really are a lot of people that kept their jobs, often white-collar jobs.
They saved money by working.
not having to commute or not going out to eat and stuff like that, and really have a lot of savings that they're now looking to plow into whatever they can.
You've seen people buying up stocks, but you've also seen people using that extra money to buy vacation homes.
Definitely, definitely.
All indications are that the tight supply that we have in the housing market is really widespread across the country.
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