Property Brothers Talks Housing Affordability, New Show
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What is the main topic discussed in this episode?
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made. And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday, keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break. So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
It's smart, calm and to the point. And it fits into your morning. You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris. On Apple, Spotify, YouTube or wherever you get your podcasts. Pending home sales here in the U.S. seeing a surprise uptick in February as mortgage rates fell to their lowest since 2022. It's a good backdrop for the new HGTV show from the Property Brothers, Drew and Jonathan Scott. That show is called Property Brothers Under Pressure. It just premiered on Sunday, and it's a deeper look here, not just into the homes, but really into the homebuyers themselves and how they navigate a competitive market and make budget-conscious decisions.
I had a chance to sit down with them exclusively earlier today and talk about the state of the housing market and their journey to HGTV stardom. Take a listen. Unlike anything we've ever done, because people always ask us, well, what happens when the cameras aren't rolling? What happens behind the scenes? We show it. We show it. You see our crew. You see us disagree. You see moments that the homeowners, you know, I think it's very relatable for everyone out there because there's so much pressure on everybody. Well, in an affordability crisis like there is across the country here, the stories, we have 14 episodes, and they're all very different stories. We have families who have lost their house from the fires in L.A.
We have other families that are trying to pull two families together to live in one house because that's the only way they can afford. We have so many stories that will be very relatable for Americans watching, and we're trying to solve with really tight budgets. We're trying to solve what everybody out here is trying to solve to be able to get a home that they deserve. We talk about the evolution of HGTV and just these types of programs that used to be more about the homes themselves. And they are becoming a lot more about the people and what they're going through. And, you know, here at Bloomberg, we've talked a lot about the affordability crisis in the housing market and particularly out west where you guys do a lot of your work.
I am curious if you've seen any sort of movement in maybe sort of a future where you have real starter homes, real affordable starter homes for people in some of these markets. There's definitely been a lot of movement. Unfortunately, it's in the wrong direction. We have about a 4 million house shortage of healthy inventory right now. And the challenge is people don't seem to understand that we need affordable housing. Any successful city in the world that has embraced affordable housing, the cities have flourished and the costs have come down. But I love the idea that people can live where they work. And I think some people hear affordable housing, they think, well, that's going to be drugs and crime and everything.
Absolutely not. These are teachers and nurses and police and household workers, people who want to live in the same community that they work. And so that's our goals from a messaging standpoint. show people that it's okay, you don't have to be a NIMBY, you don't have to stop projects that are being built in your neighborhood. On the flip side, we've invested in companies like modular builders, so we're trying to find new technologies that will physically bring down the cost of construction at the same time.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–6:04
2
What insights do the Property Brothers share about housing affordability?
6:04–6:56
3
How does the new show 'Property Brothers Under Pressure' differ from previous formats?
6:56–9:17
4
What challenges do homebuyers face in today's market?
9:17–10:26
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