Greg Ip

speaker

528 appearances 8 recordings 1 series first heard Jan 2018 last heard Sep 2024

Greg Ip’s voice in public audio — every appearance, attributed to the second.

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For most of us, buying a house is a place to live.

It's increasingly also a place to work.

Maybe it's a place to homeschool your children, a place to do your gym classes.

If you are looking at a home as an investment, a place to build up your wealth, this is not a great time to buy a house.

Since the pandemic, we've had a structural increase in demand and a structural shortage of supply.

A lot of people have been prompted by the pandemic to want to move.

They've changed homes.

They've changed careers.

They're looking for a new place.

A lot of people took the opportunity of the low interest rates we had following the pandemic to move out of their parents' or their

and look for their first place.

Millennials are reaching their peak home buying years.

And in the last couple of years, there was a very big wave of immigration.

So all those things contribute to demand.

And meanwhile, the number of new homes being built never really recovered after the crash in housing that we had in the mid 2000s.

So you combine that structural inclusion demand with that shortage of supply and a lot of atmospheric desire to own a home.

And it's basically a formula for strong home prices, which have continued to get stronger.

Plus, it's a very good economy.

People have jobs.

We're still creating a lot of jobs.

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