# An Overlooked Reason Homes Are So Expensive

An episode of [The Psychology of Money with Morgan Housel](https://invisiblenetwork.ai/podcast/1675310669), 25 Sep 2026, 22 min.

Audio: https://traffic.megaphone.fm/APO3334481487.mp3

More Americans than ever own stocks -- and helps explain part of why home prices have become detached from incomes. This episode is brought to you by Davis Advisors. To learn more, visit https://www.davisadvisors.com/. Before investing, you should carefully consider the investment objectives, risks, charges, and expenses. The prospectus or Form ADV, as applicable, contains this and other information. You can obtain a current prospectus or Form ADV by calling 800-279-2279. Investing involves risks including possible loss of principal.

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