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
So you have all of that contributing to pressure on the 10-year Treasury yield.
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And with that, mortgage rates have really just kind of shot down.
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It's true.
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Home prices have really kind of risen a lot over the last few years, and affordability has become an issue.
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It's been an issue for the last decade, but especially now, after all the home price appreciation we've seen,
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By one analysis that we looked at, pretty much almost three quarters of people who earn an average wage would find home ownership unaffordable based on the counties they live in.
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And that's definitely a big obstacle.
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This is sort of a long running trend here, which is what contributes to the unaffordability of housing.
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But
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The kind of more expensive coastal areas are where you're seeing things become particularly unaffordable.
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Places like Los Angeles, San Diego, Orange County, Miami, also Phoenix.
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Whereas the places that are still kind of more affordable are more in the Midwest, places that haven't experienced as rapid growth.
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Places like Detroit, Cleveland, Houston is still affordable based on this measure.
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Yeah, absolutely.
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I mean, I think that's sort of one of the biggest challenges to the economy broadly, but also to the housing market, which is just that home prices have increased way faster than wages, which makes it just increasingly unaffordable for someone to buy.
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You just don't earn as much money to keep up with the rising home prices.
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It depends.
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It could be good for the banks because banks and also non-bank mortgage lenders have really struggled a lot as you've seen rates rise and mortgage origination volume kind of fell off.
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So it's going to be a bit of a reprieve for some of these folks who are in the business of making mortgages.
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That said, falling rates is not always a good thing for banks generally.
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Showing 1081–1100 of 1,467 · page 55 of 74
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