Real estate market is in a holding pattern waiting for a break from the Federal Reserve

Redfin CEO Glenn Kelman spoke with Yahoo Finance anchors Akiko Fujita and Seana Smith about the outlook for rising U.S. home prices while buyers struggle through affordability issues. “At this point 30 years ago, in their lifecycle, Baby Boomers owned more than 20 percent of U.S. national wealth whereas Millennials own less than 10 percent,” Kelman says. “And it is simply because Millennials can’t afford a home. We have pulled the ladder up just as Millennials were coming of home-buying age.” Kelman comments on expectations for U.S. inventory and home sales, illustrating how younger homebuyers and homebuilders are maneuvering the environment.
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