Make money doing the work you believe in
"People want to own things" is true historically, but I wonder whether we're watching the early stages of a genuine preference shift or just frustrated demand that snaps back the moment rates or prices give an opening."
From me: My sense is that people want to own thing, want to build wealth. But younger people aren't getting a break anytime soon.
"The student loan piece at 8% is the detail that deserves its own article, honestly. Borrowing at 8% to fund a credential while housing appreciates at 4-5% annually means the gap is widening while they're in school. By the time they graduate, the down payment target has moved further away, not closer. That's not a timing problem — it's a structural one."
From me: I've written about student loan debt before and will do so again. Probably should have connected that piece to this one. (Still learning how Substack works, actually.)
"Congrats on the audiobook, by the way. Curious whether the questions in the fourth edition have changed significantly from earlier versions, or whether the fundamentals haven't shifted as much as the market conditions have."
From me: This audiobook has some preface updates to most of the chapters, but unlike my other "updates" it isn't completely rewritten. But, what was interesting was in reading it, I could see that so much of the book remains relevant and true. It was hard in 2018 to buy a home - and it's just harder. There are some things that changed (i.e. NAR Settlement) that actually haven't changed anything. In fact, instead of paying less, buyers and sellers collectively are paying MORE in commission.
The fact that it's a strong sellers' market is another turn in the roller coaster of real estate that will take some time to even out. But it will, eventually. It always does.
