How the U.S. Housing Market Became Such a Dumpster Fire

Source: The Ringer — 

Skyrocketing mortgage rates. Rent prices falling by their fastest pace in years (from their highest inflation rate in decades). Buyers and sellers are freaked out. What the hell is going on with American real estate?

Today is a very special crossover event, featuring one of my favorite finance podcasts: Odd Lots hosted by Tracy Alloway and Joe Weisenthal. Most of what I think I know about the housing market is a river that flows from the headwater that is Odd Lots and the online commentary of Tracy and Joe. So, this is a thrill for me. I hope it’s a thrill for you.

In the following excerpt, Tracy Alloway and Joe Weisenthal discuss the great financial crisis and how its aftereffects are still being felt in the U.S. housing market today.