A typical starter home in nearly 250 U.S. cities now costs at least $1 million, according to Zillow, redefining what first-time homebuyers can afford. The episode explores how rapid housing inflation pushes more Americans to the suburbs and what that means for the economy. It also looks at strong manufacturing data masking tariff uncertainty, U.S. trading partners feeling the effects of conflict with Iran, and lessons from the 1973 oil crisis for today's energy volatility.
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Highlights
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The $1 Million Starter Home
Zillow reports that a typical starter home in nearly 250 U.S. cities now costs $1 million or more, erasing the traditional entry point for first-time buyers.
Strong Manufacturing Data Masks Trade War Uncertainty
A key manufacturing index shows expansion, but the data reflects companies stockpiling to hedge against potential tariffs and military conflict with Iran.