Phoenix Realtor Will Carter: ‘You’re either paying your mortgage or you’re paying somebody else’s mortgage’

Phoenix realtor Will Carter said homeownership remains one of the most reliable paths to building long-term wealth, even as affordability concerns continue to shape the Phoenix housing market.

Speaking on the Phoenix Business Brief Podcast, Carter said market conditions vary by individual circumstances, but opportunities still exist for buyers willing to evaluate their situation carefully.

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“I’m always optimistic because I think it’s always a good time to buy for certain people in certain situations,” Carter said. “There’s no market that’s perfect for everybody.”

Carter pointed to increased inventory in the Phoenix area as a shift from recent years, creating more negotiating power for buyers. He said sellers are now more likely to offer concessions, including help with closing costs, particularly for buyers with limited upfront capital.

“There’s always a good time to buy and there’s always a bad time to buy, and it has nothing to do with what the market goes on,” he said.

Addressing concerns from younger buyers, Carter said hesitation around homeownership is often driven more by mindset than by structural barriers. He emphasized the long-term financial impact of owning versus renting.

“If you look at the statistics, someone that owns a house versus someone that doesn’t own a house, they have a 400% higher net worth,” Carter said.

He added that many renters are already covering housing costs indirectly.

“You’re either paying your mortgage or you’re paying somebody else’s mortgage,” Carter said.

Carter, who has worked in Arizona real estate for three decades, also addressed comparisons to the 2007–2008 housing crash. He said current lending standards and homeowner equity levels differ significantly from that period.

“What caused that was a lot of bad loans,” Carter said, noting that today’s market is built on stronger financial fundamentals.

He said while localized opportunities may arise, he does not expect a broad market correction similar to the last housing crisis.