Today I’m going to take a deeper look at a topic I know is near and dear to so many of you: the housing market. And we’re going to take a particular look at home ownership. Without a doubt, the housing market has been a wild and arguably unpredictable roller coaster ride since the pandemic began. At the core, the issue is fundamental: a mismatch of supply and demand. In large part, the seed for this supply and demand mis-match was planted approximately twenty years ago, during the run-up to the Great Recession of the mid to late 2000s. Of course, it should be noted that the beginning of a historical narrative is always arbitrary. The mechanisms of the US housing market extend well beyond the early 2000s.
Today we take a journey back to the run-up to the housing crisis of the mid 2000s, the supply-constrained market of the 2010s, and how the pandemic poured gasoline on what was already becoming a smoldering fire. Finally, we investigate the great power of federal monetary intervention to fuel or snub out demand.
Is now a good time to buy? I hope you’ll join me in this discussion.
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