215: How “Switching Costs” Hold the Housing Market in Limbo w/Lance Lambert
The housing market has seen unprecedented home price growth in the 2020s. Already, we’ve almost beat the past three decades, and we aren’t even halfway through our own. And now, with home price growth slowing, many people wonder how we’re still in a position of high housing costs and low inventory. The answer is simple: “Switching costs” are holding the housing market in limbo, and the more you know about them, the more our current situation makes sense.
Put simply, “switching costs” are not only the financial but also the psychological costs of selling your current home and buying a new one…
The skinny
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