Coming Home: What Financial Advisors Need to Rethink About Housing
How rising home prices are forcing a rethink on ownership, security, and what “home” really means in 2025.
Last week, I wandered through one of the most breathtaking corners of the country—Olympic National Park.
We saw black bears roaming near Hurricane Ridge, explored the impossibly clear waters of Lake Crescent, watched a harbor seal navigate the tide at Rialto Beach, and sat in silence in the Hoh rainforest. It was an incredible week of exploration and wild beauty.
And still, as the trip wound down, we felt a familiar pull—not to another view or trail, but back to the Wasatch Mountains of Utah. Back to the place my son calls “home.”
When we walked through the front door, he said it aloud: “We’re home!”
We chatted briefly about what that meant for him—beyond just missing the dog. I can best describe his answer with a few simple words: comfort, safety, inspiration. A place to reset. To be himself and be present.
That definition feels especially valuable right now, because the meaning of home—emotionally and financially—is being tested like never before.
In 1980, the average income in Utah was around $20,000. The average home price was $40,000—just twice the average salary. Today, the median income is about $60,000, while the median home price is approaching $600,000. That’s a 10x multiple.
I still remember how I felt in 2005, purchasing my first home, when my own housing ratio was twice as affordable as it is today—at five times my income—and even that felt expensive. I felt the weight of that decision every time I looked at my cash flow or thought about taking a risk.
That’s what many people are living with now. But instead of 5x, they’re staring down 8x…10x…or more depending on their market.
It’s not just that housing is more expensive. It’s that the traditional narrative around homeownership no longer fits the math.
And yet, as financial advisors, do we still default to that narrative?
“Buy as soon as you can. Lock in your mortgage. Build equity.”
But is that still good advice?
Some forward-thinking real-estate developers are starting to answer that question differently. They’re designing living spaces where ownership isn’t the end goal—community and belonging are. They’re reimagining permanence and identity in ways that don’t require a 30-year mortgage or a 40% slice of your gross income.
So maybe the better question isn’t how soon someone can buy a home, but rather:
What are they trying to feel when they say they want one?
That’s the kind of conversation worth having—especially for first-time buyers trying to make sense of an impossible market. And it’s a valuable conversation for financial advisors to initiate.
For financial advisors, let’s consider:
What biases are we bringing into the housing conversation?
Are we projecting values from a different era onto clients living in a new reality?
Are we acknowledging that delayed ownership might actually be a better path—not a failure?
Because for many, the real asset might not be the house.
It might be human capital—education, specialization, mobility. The power to grow before being tied down.
Good Questions to Explore in a Housing Conversation:
What does home mean to you right now?
Are there ways to feel stable or rooted that don’t require ownership?
How much extra income do you need to feel at home in your space?
Are you okay being house-poor for a time? What would make it worth it?
What’s more important to you today: owning a home, or having freedom to move, grow, and invest in your future?
Final Thought:
Coming back from Olympic National Park and listening to my son reminded me how powerful the feeling of home really is. But it also reminded me: home isn’t just a place. And it’s not always a purchase.
For many in 2025, homeownership may be delayed, downsized, or redesigned altogether—and that’s okay. “Home” will always be a very personal decision, it’s simply a great opportunity for advisors to have a conversation that matters at an stage of life where you can make a big impact. Our job is to help people build lives they’re proud of, whether they rent, own, or choose a different path entirely.
If this resonated, forward it to someone navigating their own housing decision—or drop a comment about what “home” means to you today. Have a great week everyone!
Reese
Great questions!