Melody Wright: The Housing Market Is In A Massive Bubble
The Julia La Roche Show
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Hey there! Welcome to The Julia La Roche Show. I started this channel because I wanted to bring more people in-depth conversations with some of the brightest minds in investing, business, and technology. I spent over a decade as a journalist and have interviewed top CEOs like Google, Goldman Sachs, Starbucks, Salesforce, Walmart, and more, as well as leading investors like Paul Tudor Jones, Bill Ackman, Ray Dalio, Jeffrey Gundlach, Charlie Munger, and others. But I've long felt traditional financial media, with its time constraints of 5-7 minute segments, didn't allow for deeper conversations, and guests would frequently get interrupted by the host. As a viewer, I was always left wanting more. My goal with this show is to change that. And I'll promise you I'll always make it about the guest, never me. Please subscribe so you won't miss any of these amazing guests. Thanks for your support. Julia
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Melody Wright joins Julia La Roche on episode 252 to discuss the state of the U.S. housing market. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia In this episode, Melody debunks the "inventory shortage" myth in housing and reveals startling truths about the current market. She explains how March home sales fell below 2008 levels despite population growth, discusses the hyperfinancialization of real estate through Wall Street and Airbnb investors, and shares insights from driving 10,000 miles across America to observe housing conditions firsthand. Melody also exposes ongoing defaults from the 2008 crisis and offers hope for frustrated millennial homebuyers waiting for affordability to return. Throughout our conversation, she provides a sobering look at what our distorted housing market reveals about the broader economy. Links: YouTube; https://www.youtube.com/@m3_melody X: https://x.com/m3_melody Substack: https://m3melody.substack.com/ Timestamps 0:00 Introduction and welcome Melody Wright 0:23 Setting up the big picture on housing and real estate 1:08 The context of the housing market's current state 3:18 Worst housing market in our lifetimes - March sales lower than 2008 4:18 Discussion of housing bubble and unaffordability 5:47 Hyperfinancialization of housing 6:15 Wall Street's role in housing after the GFC 7:32 The short-term rental craze and Airbnb saturation 9:03 How to see the real housing inventory numbers 11:06 Debunking the inventory myth and where the market is headed 12:58 FHA loan issues and foreclosure programs 15:07 Hope for millennial homebuyers 16:42 Advice for first-time homebuyers 18:08 What the housing market says about the economy 19:00 Commercial real estate situation and empty buildings 20:35 Insights from driving 10,000 miles across America 22:43 Unlearned lessons from the Global Financial Crisis 23:51 Ongoing defaults from the 2008 crisis 25:02 What a healthy housing market would look like 26:26 Closing thoughts
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