Keys to the Future: Navigating Today’s Housing Market Together

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 & intro
00:18 – Welcome from Plano HQ + today’s topic
01:02 – Why this matters to Gen Z & Millennials
02:04 – Housing history in 5 minutes (setup)
03:02 – Early 1900s: short loans, big down payments
03:40 – Post-WWII & GI Bill: the suburban boom
04:48 – 1970s shock: inflation & 18% mortgage rates
06:20 – 1990s–2000s: innovation → subprime bubble
08:08 – 2006–2012: crash, foreclosures, recovery
10:40 – 2020–2022: ultra-low rates, 40% price surge
11:50 – Today’s landscape: rates ~6–7%, slower demand
12:35 – Affordability math: price-to-income has doubled
13:45 – “Locked-in” owners with 2–3% mortgages
14:38 – Insurance & maintenance costs outpacing wages
15:28 – Student debt + wages: the squeeze on buyers
16:35 – Supply constraints, regs, and investor buyers
18:10 – What helps first-time buyers (overview)
18:38 – Down-payment assistance: HomeReady & Home Possible
19:30 – City/county first-time buyer education (why it matters)
20:28 – Family strategies: earlier gifting, matching, trade-offs
22:05 – Process over outcome: SMART savings goals
23:10 – Weekly money check: kill leaks, automate saving
24:12 – Build a “buy box”: price, payment, area, size
25:06 – Portfolio & plan check for parents/grandparents
26:02 – Action checklist (6 quick wins)
27:05 – Closing thoughts & how we can help
27:40 – Contact: podcast@assetbuilder.com & site info

Practical Action Steps

1. Run a “buy box.” Define target price, area, size, and monthly payment limit; set SMART goals for savings.

2. Automate contributions to a down-payment fund; track “leaks” (unused subscriptions, lifestyle creep).

3. Explore assistance: Check local/state down-payment and rate-reduction programs; look into Fannie Mae HomeReady and Freddie Mac Home Possible eligibility.

4. Take a first-time buyer class through your city/county or housing nonprofit.

5. Family plan: If you’re a parent/grandparent, talk openly about earlier gifting, matching funds, or custodial/earmarked accounts—after confirming your own retirement plan is solid.

6. Reframe trade-offs: A slightly smaller wedding or car today could mean faster home equity tomorrow.

📩 Questions for Joey, Adam, or Tommy? Email podcast@assetbuilder.com or visit assetbuilder.com to meet with an advisor.

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