Geltrude: Nation of Renters, Why Young Americans Can’t Afford Homes

America is becoming a nation of renters. America’s Accountant, Dan Geltrude joins Fox Across America with guest host Todd Piro to explain why young Americans cannot afford to buy a home these days.

“Why is real estate value or real estate prices I should say going so high and that is because lack of inventory. So now let’s look at Todd Piro as case in point because you said it yourself. It’s such a low interest rate on your mortgage. You can’t basically buy another house, even the equivalent, because your mortgage payment is gonna go up because the interest rate is double what you’re paying, so you’re not going anywhere and you and a lot of other people aren’t going anywhere. So now there’s no houses on the market, right. And when houses do come up because of supply and demand, that price is really, really high and now these young people, who maybe could have afforded a house five years ago, have no shot today, and I don’t know what exactly will resolve that problem other than we need interest rates to come down and there’s risk with lowering the interest rate you have a The risk of more inflation.”

Dan also shares his current view of the US economy and why he thinks it is operating on two separate tracks. To hear everything he said, check out the podcast!