Chapter
Millennials Buying Homes Due to Low Interest Rates
11:33 - 15:46 (04:13)
Lower interest rates and higher wages have allowed many millennials to enter the housing market for the first time during the pandemic. Home sellers are hesitant to list their homes due to uncertainties around affordability and availability of new homes.
Clips
A significant drop in new home construction is being caused by the historically high prices of materials like lumber, making it harder for homeowners to sell and secure new homes for themselves.
11:33 - 13:11 (01:38)
Home Construction
Summary
A significant drop in new home construction is being caused by the historically high prices of materials like lumber, making it harder for homeowners to sell and secure new homes for themselves.
ChapterMillennials Buying Homes Due to Low Interest Rates
EpisodeWhy Is It So Hard to Buy a House in America Right Now?
PodcastThe Daily
Low interest rates combined with higher wages allowed many millennials to purchase their first home.
13:11 - 15:46 (02:35)
housing market
Summary
Low interest rates combined with higher wages allowed many millennials to purchase their first home. As a result, there has been an increase in mortgage applications to buy homes, rising 5% week over week and 18% year over year.