For many millennials, buying a home has become almost entirely out of reach. Average 30-year mortgage rates are hovering around 7 percent (https://fred.stlouisfed.org/series/MO...) — the highest they’ve been since 2007 — largely because of the Federal Reserve’s efforts to tame inflation.
David Leonhardt, a senior writer for The New York Times, discusses whether it is time to change how we think about buying vs. renting.
Guest: David Leonhardt (https://www.nytimes.com/by/david-leon...) , a senior writer for The New York Times. He writes The Morning, The Times’s flagship daily newsletter, and also writes for Sunday Review.
Background reading:
• Are you ready to buy a home? Should you rent? Take our quiz (https://www.nytimes.com/interactive/2...) .
• From Opinion: Millennials are hitting middle age — and it doesn’t look like what we were promised. (https://www.nytimes.com/interactive/2...)
• The New York Times’ review (https://www.nytimes.com/2023/10/24/bo...) of David Leonhardt’s book “Ours Was the Shining Future.”
For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-t...) . Transcripts of each episode will be made available by the next workday.
