Could Denmark's Mortgage Model Save Us? | 1-Minute Market Update w/ Martin Perdomo
Is the American Dream of homeownership slipping away for millennials? This week, we unpack the harsh realities of the current US housing market—mortgage applications are plummeting, Google searches for homes have dramatically declined, and the median sales price has soared past $390,000. Interest rates are pushing monthly mortgage payments to record highs, leaving many Americans struggling to afford a home. Despite a rise in active listings, the market is still fiercely competitive, with homes averaging just 32 days on the market. Explore what these trends mean for both buyers and sellers and why many current homeowners are unwilling to give up their favorable fixed mortgage rates, creating a bottleneck in housing availability.
But what if there were a solution across the Atlantic? We're taking a closer look at Denmark's mortgage system, which uses covered bonds to offer homeowners more flexibility even when interest rates rise. This innovative approach allows Danes to pay off their mortgages for less, making it easier for them to sell their homes and move on. Could such a system work in the US, and what would it take to implement these changes? Join us as we dive into the potential benefits and challenges of adopting a Danish-style mortgage system in America, and what it could mean for the future of homeownership, especially for millennials. This is your weekly real estate market update you won't want to miss!
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