The American dream of buying a home is getting crushed, and it’s not because people aren’t trying. Two 25-basis-point rate cuts haven’t done a thing because mortgages are tied to longer-term rates, and inflation is still hovering around 3%. That keeps lenders tight and affordability out of reach. This isn’t a demand problem, it’s structural. Housing is local, and regulation is killing supply. Look at California, rebuilding is painfully slow because the regulatory burden is brutal. Add a 25% hit to softwood lumber costs with no trade deal in place with Canada, and prices stay elevated. If you want housing to work again, fix regulation, cut a fair lumber deal, and increase supply. Without that
The American dream of buying a home is getting crushed, and it’s not because people aren’t trying. Two 25-basis-point rate cuts haven’t done a thing because mortgages are tied to longer-term rates, and inflation is still hovering around 3%. That keeps lenders tight and affordability out of reach. This isn’t a demand problem, it’s structural. Housing is local, and regulation is killing supply. Look at California, rebuilding is painfully slow because the regulatory burden is brutal. Add a 25% hit to softwood lumber costs with no trade deal in place with Canada, and prices stay elevated. If you want housing to work again, fix regulation, cut a fair lumber deal, and increase supply. Without that, nothing changes. ♬ original sound - Mr. Wonderful - Mr. Wonderful
