Home prices have finally fallen from a year-ago levels, according to a commonly used indicator of data. Last month, investors received a slate of home price data for December and January from the National Association of Realtors and S&P Dow Jones Indices. The Realtors Association indicated that the median single-family home sold for $363,100 in January, up 0.7% year-over-year, while December data from the S&P CoreLogic Case-Shiller Home Price Indices' reflected a national price increase of 5.8% year-over-year. More frequent data shows the housing market may have reached a turning point in February, with thin price gains turning into declines. Redfin said on Thursday that its measure of the median home sale price fell by 0.6% over a four-week period covering most of February.
In this episode of The Higher Standard, Chris and Saied examine this news as well as other articles on the US housing market. Housing price and mortgage application indices have reached their lowest levels since the Great Recession in 2007.
Chris and Saied will debunk Dave Ramsey's concept of supply and demand. They also talk about why they believe house prices must fall. Chris will discusses the younger generation's sense of entitlement in the office as well as the concept of communication in the workplace.
Billionaire Charlie Munger expressed his opinion on cryptocurrencies by saying, "It's just ridiculous that anyone buys this stuff." They offer their insights on cryptocurrencies and Charlie Munger's interview. They look at CNBC's reports about crypto bank Silvergate Capital, whose shares have plummeted. According to MarketWatch, Silvergate shares have lost over 97% of their value since hitting an all-time high in November 2021.
Join Chris and Saied for this fascinating and informative conversation about debt, especially for people in their 30s, and what's best thing to do with your money. Spoiler alert: It just might be to keep it in cash.
What You’ll Learn in this Show:
- Why affordability is a powerful factor.
- Why house prices have fallen more slowly in the Midwest.
- How CPI is significantly affected by home prices.
- Shoul you get a salary adjustment if you moved to Utah?
- Some of the biggest misconceptions for consumers when submitting their financial information to a bank.
- Millennials' growing debt.
- And so much more...