How The Housing Crisis Spread, And What Happens Now
From high mortgage rates to shortages that have spread coast to coast, New York Times reporter Emily Badger explains the roots -- and consequences of our country's broken housing system.
Construction workers build a new home November 20, 2014 in Ashburn, Virginia.
Owning a home has long been a linchpin of the American Dream. But the recent housing crisis and changing bank lending practices have led to a drop in the number of people buying houses: The nationwide rate of homeownership is at its lowest rate in 20 years. While some have mourned this loss for the U.S. economy, a new study finds that half of American homeowners would have built more wealth by renting. The new research says many people looking to buy a home overestimate tax deductions, rely on biased, online calculators and underestimate expenses. Diane and a panel of experts discuss rethinking the benefits of homeownership.
Guests
- Aron Szapiro Consumer finance expert, HelloWallet, a company that provides independent financial advice to employees
- Julia Gordon Director, housing finance and policy, Center for American Progress
- Michelle Singletary Syndicated columnist of "The Color of Money" for the Washington Post
HelloWallet Study: Should Everyone Buy?
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