Why Housing Feels Hopeless

On this episode of The David Frum Show, The Atlantic’s David Frum opens with reflections on the upcoming 80th anniversary of the end of World War II and what Donald Trump’s recent statements about “Victory Day” reveal about how America is forgetting the meaning of peace, cooperation, and democratic leadership.

Then David is joined by Glenn Kelman, CEO of Redfin, for a candid look at the broken state of the U.S. housing market. Kelman explains why both buyers and sellers are miserable, how pandemic-era mortgage rates have frozen supply, and why the next generation is increasingly stuck, unable to buy, and often unable to move. They discuss zoning reform, immigration, housing deterioration, and why, despite the bleak outlook, Kelman still believes there’s hope for long-term correction—if America can relearn how to build.

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