Bloomberg Markets recently featured Ali Wolf, Zonda’s chief economist, in a news segment about the historic housing affordability crisis. “Right now what we’re seeing across the country is more of a buyer-friendly market, meaning buyers finally have some negotiating power. But if you look at parts of the west, in the southwest like Phoenix or Boise, near Salt Lake City, those markets are starting to actually tilt into a buyer’s market because the affordability wall just got hit really fast.”
Speaking with Bloomberg’s Taylor Riggs and BNN’s Jon Erlichman, Ali continued, “We’re seeing that this market is very different than 2008 and the mid-2000s because builders are trying to react quickly to not find themselves in a dangerous place like last cycle.”
Watch the interview to learn more about mortgage rates, housing demand, and more.
Hear more from Ali about the housing market, demand, builder sentiment, and more in Zonda’s upcoming National Housing Market Update webinar on September 20.