Laura Kusisto
speaker
689 appearances
14 recordings
1 series
first heard Jul 2017
last heard Nov 2023
Laura Kusisto’s voice in public audio — every appearance, attributed to the second.
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Appearances
And they're able to move to a place like Boise, Idaho and buy a really, really nice sort of middle, mid-priced home all in cash.
And so those are kind of some of the big groups that are driving this.
Yeah.
So one guy who I talked to who had moved from Seattle to Boise, yeah, basically said, you know, he was...
He worked in computer programming.
He was a person of pretty modest means, but he was in his 50s and wanted to retire a bit early and sold his home, paid for a new home in Boise completely in cash, and doesn't really have to worry.
With no mortgage payment, doesn't really have to worry about money anymore.
But I was talking to even people in mid-career.
If you have a job that you can move to a place in the middle of the country, the disparity in home prices between the coast and the middle of the country is getting so large that
that you can make out really well if you make that move.
Yeah.
So, I mean, sometimes I've certainly talked to people, instances where the cash buyers actually bid less on a home than someone who's going to finance their purchase, but the cash buyer wins out.
And the reason for that is really when you have these bidding wars, and sometimes you have
a dozen people bidding on a house, the seller just really wants, they don't want to have to go through it all over again if the deal falls through.
They really just want that assurance that the deal's going to close, it's going to close quickly, and then, especially if they're moving to another house, that they're not going to have to worry about having to hold onto this home for three or four more weeks.
Yeah.
So, I mean, I think there's this presents a twofold challenge for young people.
The first part of it is just, I mean, coming up with that down payment, coming up with any down payment at all is challenging.
And as we talk a little bit about in the story,
the size of down payments on starter homes has grown significantly over the last 10 years.
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