there's a sharing of vision of development and cooperation. they're celebrating the brakes as an alternative to the west germans and financial system that's keeping so many countries in poverty. i would say the world use festival conducted at the time when russia is also still engaged in the special military operation. uh, you know, the fact they're able to conduct a festival like this. this shows a real strength on the part of the russian government and russian society and jeff and often future slow a nice while on the sidelines, old dot festival president, puritanism that would be head of the international atomic energy agency. russell, across the latest focus case retails, talk to you while he outlined what b u. n. is doing to keep this approach and he could have helped on secure since we established the 5 basic principles of the un security council that has been a direct showing on the plant itself. i've seen close the case before. so if that happened, now, my reaction would be very different. because now i have

a mandate to look into these to ask questions to try to determine what has happened before. that was not the case because the i use the caps or how that seem pretty new, get safety, security remedy, which was more, which was narrower and more simple. now we have said the i a is going to be looking into the 6 and to the extent possible to indicate what has happened that have been some mine or it be so dangerous. i would say in terms of perhaps some cro drones, a heating and medical dar which is the village near by the plant model. and those we haven't been able to gather, you know, we are apart from any of these. we are a group of things, pictures, and when we pronounce ourselves, it must be on the basis of our own,

independent. we gather information. if i don't have enough, i can have a type offices. i do have like many people have, but i cannot say this has happened or point fingers when i don't tab for the elements in my hands to say this is clearly the source of the attack. i think here at the end of the day that is clarity on what are the consequences of something like this. and these is what i keep saying. what do we have the information, for example, that's what happened just a few days ago. for those sort of we, what do we have been saying, when do we have the information intelligence information or any of the information that that are meaning the possibilities that there could be the terry movement. we, we ring the alarm bell and we say attention, we are watching. nothing should happen. and we are trying to play a deterrent role in this. we are not perfect, maybe,

but much better than nothing. that is us signing off from moscow. just a solid. you don't worry, we all going to head over state side now. christy i is waiting for you. the cost of everything is up next. enjoy the the buying a house used to be a right of passage for any adult. you go to college, you get a job, you get a house and you settle down. and that used to be the trajectory of life for most people back in the day. but with mortgage interest rate at over 7 percent, many can't afford to purchase a home and they end up renting home ownership has become an elusive goal to achieve

. i'm christy, and you're watching the cost of everything we're today. we're going to be exploring the rising cost of rent and its implications on home ownership. dreams the, the costs of rent has been on a relentless climb, outpacing wage growth. in many areas, this trend is especially concerning for younger individuals and families, as it's significantly impact their ability to say for a home. as a result, many young people find themselves caught in a cycle where a significant portion of their income goes towards rent, leaving little room for savings. this makes the prospect of home ownership seem like a distant dream. when you rent, you're essentially paying for someone else's investment. home ownership allows you to build equity, which is a crucial asset for future financial stability,

retirement. and generational wells. building equity involves the gradual increase in the value of your home overtime. essentially, as you pay down your mortgage, this becomes a form of savings that can be tapped into for various purposes, such as funding education, starting a business or ensuring a comfortable retirement. it is a way to transform the monthly costs of healthy into a long term investment. but the inability to participate in this equity building process can create disparities the echo through the generations. this current trend could potentially create a divide and wealth accumulation amongst different demographics. unfortunately for buyers, home prices have continued to rise in 2023 with the median existing home prize at $413000.00, which is a year over year increase of 3.4 percent. now a common rule of thumb is the $2836.00 rule, which says that

a home is affordable when your housing expenses, which include mortgage taxes and insurance payments don't exceed 20 percent of your gross monthly income, your total debt, including your mortgage, other loans, and credit cards shouldn't be more than 36 percent of your gross monthly income as well. home ownership rates for young adults dropped from 45 percent in 199241.6 percent in 2021. the number of 1st time home buyers decline to just 26 percent in 2022, which is the lowest level since the national association of realtors began tracking data. this represents a significant drop from 34 percent one year earlier. the rising mortgage interest rates have unhealthy. they're jumping from around 3 percent during the pandemic to around 7 percent. currently home buyers on a $3000.00 monthly mortgage payment budget have lost $30000.00 in purchasing power

since 2023 due to inflation. the millennials are the largest generation in the us and also the most unique and that they do not value home ownership. 2 thirds of them say that it's a central part of the american dream, but it's been a struggle for many aspiring millennials to buy a home. these mid twenties to early forty's, some things face a tough market. there's low inventory, high inflation, and expensive financing. and this combination has created an affordability squeeze that is forcing many millennials to keep on renting. in addition to being held back by financial considerations, many millennials are in a general pattern of reaching life milestones later. the average age for getting married has been rising. subsequently, millennials are starting their families later to so they're waiting to buy homes. meanwhile, 24 percent of gen z and 11 percent of millennials are living rent free with our

parents or friends. white households tend to have the highest rates of home ownership in the us at 74.4 percent, followed by asians at 61 percent. and then hispanics of 48.6 percent. and now today we're joined by real estate. economist ken johnson gladly are now can with the rising run prices. what challenges do individuals and families face in terms of housing affordability? so in recent years, rips have been rising in the us and in general, around the world. and what's been happening is a family formation, as this finally hits new stride, if you will. so we have a number of people that are forming those households for the very 1st. so family or household formation is not just the birthright, but it's also family formation. also information and people migrating to different parts of the world. so we're a, have a, a mis alignment,

a present of misalignment of the demand for housing of the supply of housing in particular parts of the country in the us. so. busy we're seeing rents, but relatively speaking on affordable with respect to income board. the board demand in the given area is driving up the. the demand is out stripping the supply, which is driving up the products. it takes some amount of time to develop units to live in and oh, to live in it read. so you just flip a switch and create the supply that's necessary. interesting. busy the rips on average, on the us have been trending downwards the last few months. so now with the rising trend towards urbanized ation and changing lifestyles, how has renting become the preferred choice for some individuals or families? sure, so there's a couple things going on. house housing is really good that has 3 aspects to it

isn't necessary, good. and we all need shelter. so by taking that side, we still have to other aspects of housing that, that most people don't think about as part of the consumption and investment. so how do you answer this question? depends on the trade off between consumption and investment? from a strict investment standpoint, i've been part of research that shows that on average, renting and re investing those models that would be otherwise put into home ownership actually produces greater well on average, that home ownership and building equity. very interesting way though, the difference is very small, so you have to ask yourself, what is it that you want to do? and then you have to make sure if you do rich and re invest, that you do that i'm asked. ready this is a commitment, this is an investment to you. if you end up renting and not reinvesting,

that is the 3rd choice, which is by far the word of the 3 choices and it is actually well destroyed. what are the advantages and disadvantages of renting? as opposed to buying a home. sure. so some of the advantages to renting is you can be more upwardly mobile. it is far easier to. ready to get out of a lease and move from miami, florida to new york city to take advantage of a job offer. then it is to sell your home in miami, and then move to to new york and either rent or, and, or repurchase. and there's some reasons for there's some tax reasons why you want to repurchase. so generally speaking in the us, what we say is once you transition to home ownership, you usually don't transition back, although that started to be broken. so, but one of the big advantages to, to, to renting is that you can pursue those professional goals a little bit easier,

because it's easier to move from miami to l. a. i live to chicago, etc. thank you so much, ken, but please stick around. 10 johnson will stay with us right after the break. and when we come back, who is to blame for the rising cost of rent? we'll have more after the break, the show. room. just don't you have to safe house. because the after and engagement equals the trail. when so many fund themselves will depart, we choose to look for common ground, the

hi. i'm receptive and i'm here to plan with you whatever you do. do not watch my new show. seriously. why watch something that's so different little opinions that he won't get anywhere else. welcome to please or do the have the state department c i a weapons, bankers, multi 1000000000 dollar corporations. choose your fax for you. go ahead. change and whatever you do. don't marshall state main street because i'm probably going to make you uncomfortable. my show is called stretching time. but again, you probably don't wanna watch it because it might just change the way and say well, housing prices are had a higher rent is also getting more expensive since depends. i'm a rent has increased 29.4 percent overall. for a single family homes. the increases have been much higher at 35 percent compared

to multi family homes. a 23 percent typical asking rents in the us are now at a $1982.00 on average. representing a 3.38 percent increase compared to the same time last year. rent has been increasing since 2020, from a variety of factors, including installation, lack of inventory and a shifting workforce. as the pandemic increased opportunity for remote work, renters sought larger homes in areas that had previously been an accessible and relatively low cost. this migration increased brands in the suburban areas more than it lowered them in urban areas, yielding a net increase in rents. the renters are also increasingly looking for a studio and one bedroom apartments driving of demand for available housing. prospective home buyers are also remaining renter's for longer,

as they face high demand and low inventory of existing homes and rising mortgage rates. generally, households should be spending no more than 30 percent of their gross income on rent . that means if a household or as the us median income of $70784.00 annually or $5899.00 per month, the goal would be to spend no more. 9 than $1770.00 per month on rent. and well, only your own home is consider the american dream. romania actually tops the list with 96 percent of household owning their own home. this results from the mix of tradition opportunities and housing affordability followed by china and be in. 7 a 90 percent and russia at 87 percent. the meanwhile, countries that have the lowest homeownership rates include switzerland at 42.2 percent. germany at 49 point one percent and austria of 54.2 percent.

for these countries, affordability also plays a major part, but social housing is also widespread in these countries. so for this and more or less spring and again, real estate economist, ken johnson, how do individuals way the decision to rent versus buying a home? wow. yeah, i took the question the other way when you 1st there. so what should be on that list? they should be asking themselves names along. i'll go from both of consumption side and then i'll go over to the, to the, to the finance side, the financial assets side, the consumption side. you need to ask yourself, are you happy with your location? they are you happy with a few less amenities? you know, that's because that's what you're getting when you read you. you take the standard package so to speak. you, you get what you get. so other advantages are hi, i,

i, personally, this is true to be on horrible, working with my hands. and when you own a home, you have to consistently be maintaining that home and you're either pay for it or you're doing it yourself. so you have to ask yourself those. ringback is, are you ready to actually do a lot of this yourself or commit to the financial commitment to, to, to making these repairs enough, right? when you're renting, you don't have to worry about that. that's consumption. now all the investment side, you know, again you get to move if you, if you're a renter's, you get to a more easily we love take for that bigger, better job offer, right? so but on the consumption side, again, you're just given uh, making your own legal. we all like around cookie. so the renting side from a consumption standpoint is sometimes a little bit preferred. uh because people are,

is in love with the amenities and then they like to trade where they can make, oh, my gosh, i can pursue a career a little bit easier. so what you tend to say is a bifurcation and the age groups, for example, young people are more interested in renting today and then perhaps ever before. and as you become a little bit more seasons like myself, so then we tend to think, well, home ownership i've, i've kind of the peak of my career, i'm getting there. i don't need to move around the country. i'm happy where i am, my family growing up here, so you see generations that are a little bit older. they're more happy with home ownership and generations that are a little bit younger or more interested in renting. but the differences are small. and again, i would just encourage anybody to us out there, remember, you can either own and build a way you could read and not really invest those monies that you would otherwise put into home ownership. or you could read and re invest those movies that you

would otherwise put into home ownership. the number one and number 3 produce in nearly similar result. so in terms of wealth creation, overtime but not for like i said, they're not dramatically different. so, but if you are going to read absolutely, have to make sure that, that you're committed to making those investments. if you're not, you need to own the home because it will force you to say, how do attitudes towards renting versus buying very among different generations. such as the millennials, where is the gen z, z and the baby boomers. so we are just on that a little bit as you get a little younger of folks and in the us today. and i believe around most of the world that are little bit less to connect it to feel that. busy the, the older home. what are the reasons for this to us the. ringback the investment opportunities for those that are coming along at this point in time. they're just entering their professional careers. they're more investment opportunities of all

sorts of all sorts of financial alternatives that they can invest in and say, there is a for retirement. and going back only a few years the, there was far fewer opportunities that you could invest in. busy the actual opportunities that you could invest in have has the individual. and therefore home ownership was very popular because it did go up and down on average. so it was seen there. so that's a housing became a financial asset as well as a consumption. good. so, you know, how do we get here, little bit of preference a little bit over the fact that there's more options and the fact also again, people realize when they're younger, maybe we want to be a little bit more mobile in our, our age groups or are we see our biggest generational pretty so well the,

the, the gym disease, i get the generations mixed up. some of the younger generations well starts out number everybody else. and so you might say in the us a little bit more inclination to, you might say a little bit more inclination to the right thing. but i don't think we're. busy to become a wrench or nation by that where by that i mean born and 50 percent of households are renting, as opposed to owning that number might go down into 60 or the high fifty's. it's not going to dramatically change in the next day. ringback either generational shifts and preferences for long term renting over home ownership. absolutely. i think some of the generational shows that something that we're not talking about because you mentioned the long term. right. so something that we're beginning to see in the us and then probably your to my understanding is this concept of short term renting where you're not having these year long leases. and the landlord is, is they're doing more than even the long term leases. they're,

they're perhaps maintaining the utilities of doing a lot of the maintenance for you, providing other amenities. so you see these big workers that are now very mobile and it doesn't really matter. they can work from home and kind of a baby as a passing fad. but at this point in time, there's a, there appears to be appears and it does need to be a number of these dig worker types that are, oh wow, i want to be in florida in the winter. and i want to move back to michigan for the summer. so why do i want to take all home ownership or long term lease is that stopped me from doing it? it doesn't matter if i warranty in miami and in the winter time with him harbor in the summer, i can work anywhere. so i think that is becoming an alternative is that because we've only had really 2 until. ringback on a time where it was either you oh are you long term rent it short term right. busy

orbit funding, i think, and are there some unique challenges faced by younger individuals in accumulating the necessary funds for down payment? i think many people disagree with my answer on this, so you have to look at the timing of that. so where we are in the economic cycle, we are clearly not affordable period at housing right now, but we've been there before. and then there's been more formal periods. so they all correspond with when you're hiking about, at the peak of a housing cycle, you're going to get a lot of an affordable house which are at the bottom of a housing cycle. the issue of affordability tends to go. what? so really is. so are we at a time that is unique and never happened before? we're so affordable. it's very difficult to, to build up that down payment and all the bodies necessary. obviously the answer that is not we see terry. it's just as tough as this where your income relative to cost or. ready or uh wow, we've been there before, but that's because we've got to take some housing cycles before. so the,

what i'm thinking of is my generation coming out where unemployment was double digit and interest rates are 17 percent. and that down payment was always very difficult to come up with because incomes were lower relative to price. there's all sorts of problems that we saw today. we're again, we're at the peak of the cycle. but if you compare this to just say 2012, when we're at the bottom, the housing cycle in the us that was that difficult to get into a home ownership. it was one of the easier periods of time. so i guess my answer is qualify, it just depends on what periods of time you're comparing this to. it's no more difficult today to get into a home ownership. that's a piece of the housing cycles. i back in the early eighty's, the late eighty's. and today, those are all relatively as difficult as today, but it's far more difficult today to get into a home ownership that it was just a, a decade ago for younger individuals entering the housing market. what challenges

do they face in terms of affordability and competition? so couple of things that definitely we're in a very on affordable. ready right now what's going on is both rims and prizes shot up in the last 2 years relative to our incomes. this has happened before the way we tend to solve that historically around the world, because again, we do have prices shoot up. they'll be that means that that amanda's out stripping supply, so you decide to build more units. and so how quick and we. busy the units that is an issue. so then you get this very, you get this period about affordable housing, both on the right dealt with unavailable, housing, curious, a housing crunch on both rent and home ownership side. so you see multi generational living. these od roommate, situations alternative forms of housing will also become very popular by that. i mean, mobile homes are primarily modular housing. so,

but we've been down this road before and the way we will solve it this time will be the way we solve it every time before. we will simply start to double up, if you will. not exactly the more people living for a unit, and you will probably have a lot of these od roommate, situations and that that passes with time because our incomes are starting to rise with prices. the prices are for me out read surprises again are actually moving down the last few months. they're not going to topple tremendously, but they will flatten out. and our incomes are rising as the economy grows. and we've all done this before. we just tend to forget about it and it's like stopping your child when you start to tell us the worst thing in the world while you subject show before. but the moment you stop your time is the worst thing in the world, or it's like really bad. this is very difficult for us now. i admit that that is very, very difficult. but we've been here before,

and all we have to realize is that these things will solve themselves with housing and primarily what drives it is it just takes a while to provide necessary housing. takes a while to match the supply to the demand of housing because of the time it takes to build the house. thank you so much for your time today. can well air b and b has played an important role in the travel industry and allows for the growth of assuring economy the so called air b and b effect is to some extent responsible for the rising cost of rent. now the air b and the effect refers to the general education process in that it's slowly increases the value of an area to the detriment of the indigenous residence. many of whom are pushed out due to financial constraints over tourism facilitated by platforms such as air b and b, negatively impacts house prices and communities. it encourages landlords to move out their properties out of long term rentals and for sale markets and into the short term rental markets. to a study found that a one percent increase in air

b and b list. these lead to a point 018 percent increase in rents, and a point 026 percent increase and house prices. we are now looking at a future where home ownership might become a privilege rather than the norm. and this could have profound implications for wealth distribution, social nobility, and even the overall stability of communities. i'm christy. i. thanks for watching and we'll see you right back here next time on the cost of everything. the take a fresh look around. there's a life kaleidoscopic, isn't it? a shifted reality distortion by power to division with no real opinions. fixtures designed to simplify. it will confuse who really wants a better wills,

and is it just as it shows you, fractured images, presented as fast? can you see through their illusions, going underground can the or the women in the world, the knives and supports i once independent, will get the full blame with for you. and so used to be the fruit of their own doing. phasing is top, zip him out, says the strong go the walls, commitment to the want. china principal,

the great big guarantee of selling into damage control by one, issued a groping apology. after a play for minister remarks on the didn't call out and 18 cabinets of indian was assessing the 5 a human rights watch dog says evidence panel. i witness testimony points to as well as a full involvement and the death of hundreds of pounds of stadium. last week because they tested brittany for food aid and.