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
So, and just because people are having to be more competitive, so that's a real challenge and it makes it harder for people to buy a home.
And then, yeah, I mean, a thing that certainly stood out to me and seemed a little terrifying to me was how quickly people, young people who are financing their purchases have to try to close on these purchases in an effort to kind of, to make themselves as appealing as a cash buyer.
So one woman who I talked to talked about her experience of of the realtor basically said, come see this house this afternoon.
She went didn't even her husband never saw the house.
And he came home in that evening and she said, honey, I bought a house today.
Yes, exactly.
It's a huge decision.
So it takes a certain amount of guts and desperation.
Yeah.
Yeah, I think there is an interesting question about whether this is a good idea.
There's no question that it means that the market is quite stable.
The fact that people have all this equity in their homes means they're unlikely to go into foreclosure.
But that's a different question from whether it's the right financial decision for people.
Given how low interest rates are, and you think about how much you're tying up in this one asset,
You think about tying up five or six hundred thousand dollars just in your home.
You're really making a bet that the market is going to remain healthy.
So, again, I don't think we're going to see we're not going to see this play out in the way the last crash did.
You're not going to see a lot of people go into foreclosure.
But a lot of economists say it's a puzzling decision when you could finance so cheaply.
We talked to Bank of America, and one thing they said is we sort of realized this was business that we were missing out on if people were buying in cash and our business is giving people mortgages.
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