Business Daily
Business Daily
US Election: The American housing dream
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August 8, 2024
18 minutes
Available for over a year
As prices for homes and rents continue to rise in many towns and cities, it's one of the key issues for voters.
In 2023 the average price of a home in the United States was $495,100, six per cent higher than a year earlier, though the signs are prices may now be starting to fall.
That’s partly because mortgage rates have spiralled as high as 7% for many new buyers – making repayments prohibitive.
We ask business owners working in housing to tell us why, and what’s the fix?
Presenter: Ed Butler
Producer: David Cann
(Image: A "Now Leasing" sign outside the Willows at Valley Run, an affordable housing development, in Coatesville, Pennsylvania. Credit: Getty Images)