Ep. 22: Why the stock market went a little nuts

What factors have been driving the recent stock market volatility?

And how do you know whether you’re ready to buy a home?

Get answers to these questions by listening to this week’s episode of the Ilyce Glink Show. You can click the audio link below to listen to the full show, or download the podcast via iTunes.

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This week’s guest is Doug Duncan, chief economist for mortgage giant Fannie Mae. He’s got some good insight on the latest indicators for the housing sector, as well as the economy at large. I’ll also ask him to share his take on the dramatic swings in the stock market that we’ve been seeing over the last 10 days. Then I have a couple of segments on how to decide whether you’re ready to buy a home. Not all home buying motives are created equal, so I’ll share my advice on what qualifies as good reasoning.

More About This Show

Glinkonomics Report [0:55]

Fannie Mae’s Chief Economist on the Housing Market [4:40]
Fannie Mae Chief Economist Doug Duncan shares his take on what’s happening in the housing market and gives an economic outlook for the rest of 2015.

Fannie Mae just released its monthly housing and economic outlook for August, so I asked Doug Duncan to help me explain the numbers. The second quarter of 2015 didn’t meet analysts’ expectations for economic growth, and the housing market is bracing for the impact of a Fed move on interest rates. But in spite of all of that, Fannie Mae’s prediction for economic growth through the end of the year remains unchanged.

How Will I Know I’m Ready to Buy a Home? [16:00]
Figuring out whether you’re ready to buy a home can be confusing. So here are four suggestions to help potential first-time home buyers who are still on the fence.

You may be asking yourself whether your desire to buy a home is logical. Buying a home is a big commitment. And whenever I make a decision to purchase property, I want to do be sure I know that I’m doing it for the right reasons. If you’re looking to buy a home, take a mental inventory of your own home buying motives and do your homework on any property you’re considering.

Buying a Home for the Tax Savings Doesn’t Always Make Sense [17:45]
If you’re considering buying a home just so you can take the mortgage payment deduction and enjoy the tax savings, make sure you take the costs of homeownership into account.

Buying a home doesn’t always make financial sense (or “cents”). But the allure of reaping a tax deduction from your monthly mortgage payments – not to mention building equity instead of lining a landlord’s pockets – can be hard to resist. Just make sure that when you decide to buy a home, you budget in all the expenses of homeownership. The money you save on your income taxes may not look like such a great deal once you consider the costs of maintaining your property, not to mention property taxes.

If you have any questions about this show or in general, email me at questions@thinkglink.com.

Click the audio link below to listen to the full Ilyce Glink Show.

Thanks for listening!


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About Ilyce Glink

Author of 13 books, including the bestselling 100 Questions Every First-Time Home Buyer Should Ask. Writer of the nationally syndicated column, “Real Estate Matters.” Top-rated radio host in Atlanta. Writer for CBS MoneyWatch.com. Managing editor of the Equifax Personal Finance Blog.
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