Housing Affordability Crisis

Nate highlights the staggering requirements needed to return to pre-pandemic housing affordability levels, emphasizing the challenges posed by rising mortgage rates. The conversation delves into the disconnect between rental and purchase prices, with Nate noting how local market dynamics, such as increased multifamily units, influence these trends. Both discuss the reluctance of homeowners to sell, driven by locked-in low mortgage rates, and the implications of local policies on housing development.