The Housing Market is Broken

The housing market is in an interesting place right now. Demand is high, supply is low and there are millions of people with sub-5% mortgages who aren’t planning on moving because they have a rate that they will never get again. Pile on top of this the fact that we just haven’t built enough housing for the people that we have and the housing market is now a mess. Understanding your mortgage options as a homebuyer is really important and something you need to understand fully. Many Boomers are keeping their large houses and aren’t moving on either (at least not yet anyway) and this all amounts to a housing market that is basically paralyzed. There are no easy or fast solutions to this problem. Building houses takes time and the amount of labor needed is tremendous but the labor market is tight. When will things give? Who knows?

In this video, Andrej Jikh breaks down what is wrong with the housing market and when a correction in prices might come and what might get the housing market moving again.