Money Alchemist EP 22 - U.S. Housing in 2024
Expensive housing is better than no housing.
Ben and Brent wrap up 2024 with a conversation on the state of the housing market. Prices of single-family homes continue to edge higher, being up 6% year over year. This is on top of a record increase in median single family home prices over the past decade which now totals 102% according to Freddie Mac.
While unaffordability infects already strained budgets, forcing some households to quarantine in low-rate mortgages or rents, we continue to see enough demand on low inventories push prices higher. Homes are still selling quickly, and people are moving despite 7% mortgage rates.
The same irresistible natural force that drives birds to their nesting habitats recently drove Brent and his family from the inner 275 loop to the suburbs of Northern Cincy. Ben is in the midst of buying a home and about to list his family’s West Chester home of 11 years in search of status and garage space.
Are they making mistakes abandoning their sub 3% mortgage rates in pursuit of quality-of-life improvements? Or are they moving with the natural flow of the market incentives as part of the “great capitulation”?
Listen in to find out the answer to these questions and much more!
About your Hosts
Ben Jones
Managing Director, National Wealth Management Group
Sign up for Ben’s newsletter at www.karastick.com
Follow him on X @thekaratstick
https://www.linkedin.com/in/ben-nwmg/
Brent Gargano, CFPⓇ
Founder & Advisor, Infinite Wealth Planning
www.infinitewealthplanning.com
linkedin.com/in/brent-gargano-cfp®-2067b573
Sources:
Lending Tree, Mortgage Statistics: 2025
https://www.lendingtree.com/home/mortgage/u-s-mortgage-market-statistics/
Redfin, 12/12/2024 Homebuyer Press Release
Redfin, 2025 Predictions
Disclosure:
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Securities offered through LPL Financial, Member FINRA & SIPC.. Advisory services offered through National Wealth Management Group, LLC a registered investment advisor and separate entity from LPL Financial.
Brent Gargano is solely an investment advisor representative of National Wealth Management Group, LLC, and not affiliated with LPL Financial. Any opinions or views expressed by Brent Gargano are his own and are not those of LPL Financial
The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.