Housing market: What the prices of new vs. existing homes tells us
Episode Description
The housing market is at a 40-year low for affordability, with rising costs making it hard for builders to lower prices. Young buyers especially struggle to afford a home, shares Wharton Professor Susan Wachter in this clip from an interview from the "Policies that Work" event series from the Wharton School.
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Brief Summary
New home prices are not higher than existing homes, but affordability remains a major issue for young buyers.
Key points
- Housing Affordability Crisis. The price of new homes is not at a premium to existing homes, indicating a shift in the market.
