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 to me, that is a worrisome indicator.
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That suggests that these areas where the economy is the strongest, but home prices are rising the fastest, that those home prices are still acting as a barrier to homeownership for people.
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Yeah.
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So I think that's what we're seeing is that really for the last couple of years until recently, the home ownership rate was essentially in free fall.
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We really didn't know when it was going to stop going down.
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It seemed like every quarter we thought it was going to hit bottom and then it went down some more.
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And we're seeing a reversal of that.
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But we're not really seeing a reversal of the trends that were driving the homeownership rate down.
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We're still seeing home prices rising.
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Home prices rose by 6.1%, which is also the fastest rate in three years this last month.
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And so that suggests to me that it's more just sort of a determination.
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People see that interest rates are probably going to rise.
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People feel pretty confident.
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And so they're just diving in.
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But whether or not that's sustainable is a big question.
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Yeah, absolutely.
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I mean, that was a big issue before was that the unemployment rate was low.
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And that's a factor in homeownership.
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But a bigger factor is what can people afford?
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Can they afford that monthly payment?
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