Buying a Home in 2022 (and Beyond): What You’re Really Up Against
Let’s be honest: buying a home right now is wild.
In this solo episode of the Financial State of Minds Podcast, I took time to break down exactly what’s going on in the housing market, why it feels so out of reach for many of us, and how you can start preparing — even if the odds feel stacked.
This isn’t just another “housing market analysis.” This is real talk for real people trying to figure out whether homeownership is even possible anymore.
Spoiler: It is — but not without strategy.
💸 What’s Going On With the Housing Market?
Prices have shot up. Interest rates aren’t helping. Rent is through the roof. And the dream of owning a home feels more like a fantasy for younger generations — especially for first-time buyers.
Here’s the truth I share in the episode:
- The average home price in mid-2022 was around $440,000
- Mortgage rates were over 5% and still climbing
- Lenders expected credit scores around 740+
- Rents and inflation were rising at the same time
That combination hit hard — especially for people trying to build their lives from scratch.
🧠 Why Credit Still Runs the Show
If you take one thing away from this episode, let it be this:
Your credit is the foundation of your future home.
You could be making decent money, but if your credit’s not right, you’ll hit wall after wall when trying to buy. I break down:
- How to check your credit and understand what lenders look for
- What “credit utilization” really means
- Why now is the time to clean it up — before you even think about pre-approval
🏗️ A Reality Check, Not a Deal Breaker
Yes, it’s harder than ever. But you’re not helpless. You don’t need to time the market — you need to be ready when your opportunity shows up.
Here’s what I encourage in the episode:
- Stop comparing your journey to your parents’ or peers’
- Focus on what you can control: credit, debt, income, and saving
- Be realistic about what you can afford — not what you wish you could afford
- Consider renting for now while preparing like a buyer
You’re not crazy.
The market’s not fair.
But with a plan — you can still make it happen.
Darrin Harvey
Financial Planner + Business Consultant
Darrin Harvey is a financial planner and the host of the Financial State of Minds podcast, where he breaks down personal finance in a way that’s clear, relatable, and empowering. Raised in a middle-class home by parents who emphasized financial literacy, Darrin entered adulthood with a foundation in money management—but still faced his share of financial highs and lows. He overcame periods of debt and instability by learning to plan intentionally, all while navigating life as a legally blind individual.
Darrin now uses his experiences to help others do the same. His mission is to educate and uplift communities that are often overlooked when it comes to financial planning—college students, African American and other minority communities, and the disabled community. Through one-on-one coaching and his podcast, he offers practical tools, real-life strategies, and a supportive voice for those ready to take control of their finances. For Darrin, financial literacy isn’t just about money—it’s about access, confidence, and building a future you can be proud of.
