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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Appearances
It's increasingly also a place to work.
Maybe it's a place to homeschool your children, a place to do your gym classes, all those sorts of things.
Those things have real value to you.
If that's the primary thing driving you to buy a home, then any time is the right time to buy a home.
You need a place to raise your family.
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.
And in fact, if you look at the behavior of very large institutional investors, the ones who go out and buy many houses as investment properties because they plan to earn income from the rent on them,
you'll see that they are starting to pull away from the market because it is just very hard to justify the level of home prices today compared to, as I said, the rents on similar homes.
Now, that doesn't necessarily mean that you're going to get wiped out, but it does mean that the headwinds to building up wealth in the housing market will be somewhat stronger than they've been for quite a few years.
Well, the reason we had a crash last time, it wasn't just because home prices were overvalued, but because mortgage finance was very different at the time.
Underwriting standards were in
very, very loose.
People were buying a lot of houses with no money down.
Those mortgages were being issued privately by sort of fly-by-night companies.
And pretty soon when people couldn't refinance their mortgage, they defaulted.
When they defaulted, the house had to be foreclosed on.
When the house was foreclosed on, it was dumped on the market.
Prices fell further.
That created more defaults, more foreclosures.
Prices fell further, sort of get the vicious cycle image.
Showing 161–180 of 528 · page 9 of 27
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