The Crazy, Unprecedented, Downright Insane Housing Market
Real estate across the country has never been a hotter commodity. A couple years ago, there were already more potential homebuyers than there were available homes. But then the COVID pandemic hit, causing a greater housing demand coupled with a shortage of lumber and construction labor.
If you’re looking for a home right now, you know what it’s like out there: interest rates have rarely been better; people are lined up around the corner to get into open houses; bids are far beyond asking price. At 11 a.m. this Friday, we’re asking what’s going on with the housing market around the country and here in Utah. Some of it has to do with the pandemic and big money investors snapping up homes, but there are the plain old market forces of supply and demand. Of course, homeownership has long been a cornerstone of the American dream, so we’re also asking what it means when more and more people can’t afford a home of their own.
- Candace Taylor is a reporter covering real estate across the country for the Wall Street Journal
- Dejan Eskic is a senior fellow at the Kem C Gardener Policy Institute at the University Utah, studying housing, real estate and construction in the state.
- Katie McKellar is a reporter covering state politics for the Deseret News.
- Conor Dougherty is an economics reporter at the New York Times.