Keys to the Future: Navigating Today’s Housing Market Together
In this Keep It Simple Podcast episode, host Joey Badinger joins advisors Adam Morse and Tommy Williams at AssetBuilder’s Plano HQ to unpack what’s really going on in today’s housing market—and how families can work together to help Gen Z and Millennials become homeowners.
They trace the arc from early 20th-century mortgages to post-WWII suburbia, the 1970s rate shock, 2000s subprime bubble, post-COVID surge, and today’s challenging mix of higher rates, compressed affordability, insurance spikes, student debt, and constrained supply.
What You’ll Learn
Housing history in a hurry: From 5-year loans and big down payments to the 30-year mortgage, GI Bill suburbs, the 1970s rate peak, the subprime crisis, and COVID-era price jumps.
Why affordability is strained now: Home-price-to-income ratios, higher mortgage rates vs. locked-in low-rate owners, insurance costs, and student debt.
Supply vs. demand realities: Aging-in-place, building restrictions, private investors in starter homes, and why listings can rise even as affordability falls.
Programs that help first-time buyers: Where to look for down-payment assistance, reduced-rate programs (e.g., HomeReady, Home Possible), and local buyer education courses.
Family strategies that work: How grandparents/parents can gift earlier, reframe big-ticket events (e.g., weddings) vs. down payments, and coach smart savings habits.
Episode Highlights
Rates matter—but so does the price base. A 6–7% mortgage is tough; the bigger problem is prices outpacing wages.
Locked-in effect: Owners with 2–3% mortgages aren’t moving—tightening the starter-home pipeline.
Costs beyond the mortgage: Insurance premiums and maintenance have significantly outpaced wages.
Education pays: City/county first-time buyer classes can prevent costly surprises (inspections, foundation/piping, etc.).
Timing gifts can change trajectories: Front-loading support (within a plan) can beat waiting for inheritances.
Chapters
00:00 – Disclaimer & intro00:18 – Welcome from Plano HQ + today’s topic01:02 – Why this matters to Gen Z & Millennials02:04 – Housing history in 5 minutes (setup)03:02 – Early 1900s: short loans, big down payments03:40 – Post-WWII & GI Bill: the suburban boom04:48 – 1970s shock: inflation & 18% mortgage rates06:20 – 1990s–2000s: innovation → subprime bubble08:08 – 2006–2012: crash, foreclosures, recovery10:40 – 2020–2022: ultra-low rates, 40% price surge11:50 – Today’s landscape: rates ~6–7%, slower demand12:35 – Affordability math: price-to-income has doubled13:45 – “Locked-in” owners with 2–3% mortgages14:38 – Insurance & maintenance costs outpacing wages15:28 – Student debt + wages: the squeeze on buyers16:35 – Supply constraints, regs, and investor buyers18:10 – What helps first-time buyers (overview)18:38 – Down-payment assistance: HomeReady & Home Possible19:30 – City/county first-time buyer education (why it matters)20:28 – Family strategies: earlier gifting, matching, trade-offs22:05 – Process over outcome: SMART savings goals23:10 – Weekly money check: kill leaks, automate saving24:12 – Build a “buy box”: price, payment, area, size25:06 – Portfolio & plan check for parents/grandparents26:02 – Action checklist (6 quick wins)27:05 – Closing thoughts & how we can help27:40 – Contact: podcast@assetbuilder.com & site info
Practical Action Steps
Run a “buy box.” Define target price, area, size, and monthly payment limit; set SMART goals for savings.
Automate contributions to a down-payment fund; track “leaks” (unused subscriptions, lifestyle creep).
Explore assistance: Check local/state down-payment and rate-reduction programs; look into Fannie Mae HomeReady and Freddie Mac Home Possible eligibility.
Take a first-time buyer class through your city/county or housing nonprofit.
Family plan: If you’re a parent/grandparent, talk openly about earlier gifting, matchin
Show more...