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On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about how oil prices and mortgage rates have moved this week amid the Iran conflict. Related to this episode: The Iran conflict hasn't pushed oil and yields higher this week — here's why HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ More info about HousingWire The Top 5: Google expands real estate listing ads to all 50 states Why purchase applications are rising even as mortgage rates climb Existing home sales beat estimates, what it signals for 2026 Figure CEO Michael Tannenbaum on the strategy behind $717M Kiavi purchase CoStar targets Zillow Preview in amicus filing over MRED feed The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate.

NYU IHIF 2026 was full of insights and thought leadership from some of the best and brightest hospitality professionals in the industry.  In this episode of the Suite Spot, you will get to hear from some of the most influential and biggest names in hospitality in the exclusive interviews we were able to cover at the event.  NYU IHIF is the epicentre of hospitality brands, capital, and fast-paced dealmaking – opportunity moves fast, and so should you. This is where the rebound takes shape, where leaders uncover what's next, and where relationships turn into real transactions. Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotel marketing. I’m your host, Ryan Embree. Hello everyone. Welcome to another episode of the Suite Spot. This is your host, Ryan Embree and VP of Marketing here at Travel Media Group. Cassady Quintana: And I’m Cassady Quintana, Brand Ambassador here at TMG. Ryan Embree: And today we are fresh back from NYU IHIF 2026. My second time in attending this incredible event. Cassady, your first, what were your thoughts? Cassady Quintana: Yeah, I thought overall was a great event. A lot of optimism, especially as we’re heading into the summer season. So I thought, you know, the conversations that we heard on the panels and the ones that we were having with people were awesome, and a lot of you know, good things coming out of that. I feel like the biggest topics that I heard, there were three major takeaways I took from a lot of the panels and people we were talking to, but one being that K-shape economy that we’ve heard a lot about, right? We know that luxury is still outperforming while economy segments are feeling a little bit more of that pressure especially as we head into this summer season and looking at some of those trends. And then I think one of the biggest topics we have been talking about since the beginning of this year is the World Cup and how international travel we thought was gonna be booming. We were expecting a lot of busy hotels, but it’s kind of been on the softer side, and we’ve actually seen international travel dip a bit. So I think right now we’re kind of in that wait and see period of maybe you know people are waiting to see if their teams make it out of the group stages and then they’ll plan on booking a hotel. So keeping an eye on kind of that last minute travel. But the biggest topic that we were talking about a little bit last year, but the biggest one this year is AI and how hotels are using that within their systems. You know, there’s a lot of trends around using that for more personalization and being able to use it to look at your, you know, revenue optimization and how you’re performing online. So finding ways that we can use AI that doesn’t take the hospitality out of hospitality and doesn’t replace that human element. But that kind of went with that overarching theme of the entire event, which was sharpening the edge. So the thing I took from that is that the hotels that are really gonna win are the ones that are understanding their guests and using AI to further that, to further get to know their guests, to make that experience a little bit better. Ryan Embree: You know, and we had some incredible conversations and interviews with some professionals that we’re gonna share here in a second. But just to kind of jump on what Cassidy’s saying, we’re at a really cool inflection point in our industry right now as we go gear towards the busy travel season. So it’ll be interesting to see, you know, we had the opportunity to meet with development person from Minor hotels who’s looking to bring their brand into US and Canada, which will be very interesting. We know how they have a huge global footprint, a lot of interest early on in getting into the Americas. Uh, we then visited with AHLA and Kevin Carey and his team doing such wonderful work over there advocacy for our industry and some really cool initiatives that we were able to sit down with Kevin for a few minutes and chat about, uh, Jan Freitag from STR our hotel Data North Star and compass. They just released a revised forecast for the hospitality industry. So we went over some major points of that revised forecast and finally we got the opportunity to sit down with president and CEO Best Western Larry Cuculic. What a wonderful conversation about the best Western brand and how they are implementing, um, some of that AI and technology into their brand, and capitalizing on not only the World Cup, but also America 250. So wonderful insights that you’re only gonna find here on the sweet spot. Thank you for joining us. We hope you enjoy these exclusive interviews from NYU IHIF 2026. Hello everyone. Welcome to another episode of The Sweet Spot. We are live on location at NYU IHIF 2026 here with Genna, the VP of US and Canada Development for Minor Hotels. Genna, thank you so much for taking the time to stop and the busy big apple and talk with us today. Genna Panagopoulos: Thanks for having me. Ryan Embree: Excited about, this show. A lot of energy, a lot of buzz. You know, when you come to an NYU talking to ownerships, a lot of capital here, what are the conversation kind of stem around, and what does a successful NYU show look like as you head back to your home base? Sure. Genna Panagopoulos: Successful NYU would really be finding some deals, perpetuating some deals. So hopefully advancing some opportunities and it’s really all about for right now because we’re relatively new into the region. Educating our owners and the, the broader development community. So, you know, some of, some of the players do already know us, but in the luxury space, but there’s a lot of people we gotta get out in front of and introduce Minor hotels to. Ryan Embree: And this is a great place and, obviously a great city to do that in. What has been kind of the feedback? I mean, you’ve been tasked with this enormous job. We have such a great brand, worldwide, you’re bringing it here to us, Canada, and North America. What have been some of those initial conversations and hearing that and initial interest and feedback from owners? Genna Panagopoulos: Yeah, we’ve had a lot of feedback and interest on Anantara. So some of our, you know, established luxury brands that are pretty well known when you know the luxury hotel space in a global environment. Sure. So those owners have actually come to us saying, we’re really excited about the opportunities here. So that’s one piece. Of course we have NH Hotels, NH collection, and NH, which are very well known brands, especially in Mediterranean, Europe. Yeah. And, Central and South America. So there’s excitement around that too. Ryan Embree: Does it help, I mean, having such an international brand, we got the World Cup here, right? In a couple months. You kind of using that as maybe some momentum as you kind of come into, and introduce this brand into the Americas. Genna Panagopoulos: Absolutely. There’s a lot of, you know, I’m also educating Minor of the markets we wanna be in and so that’s definitely helping as well and putting some places on the map. Ryan Embree: And let’s talk about that because there’s been some announced projects already right here actually in New York. Talk about that project a little bit. Genna Panagopoulos: Yes. Thanks for asking too. We have a Worsely Hotel that’s opening, here next year. It’s gonna be super exciting because Worsely is a restaurant brand that we are taking into the hotel space. So it’s the first of its kind and nowhere better than to start in New York comes from London. So there’s a lot of correlation between the two markets. Ryan Embree: One of a kind hospitality venue and a one of a kind city, so. Exactly. But another project we’re really excited about just ’cause we’re home based, obviously in Orlando right down the road, a bright line away in Miami. Talk to us a little bit about that project and how that’s different. Yeah, Genna Panagopoulos: It’s a high rise building built in Miami. Hasn’t started construction yet, but it’ll open in 2030. It’ll be an Anantara hotel with branded residences, both private branded residences and, um, ones that will be able to be rented to hotel guests as well. Super wellness oriented. There’s gonna be a really extensive spa. Right. Very experiential. Wonderful for the residents that are gonna be buying, the residence. Ryan Embree: It’s incredible. It sounds like you guys are really taking care of all of the kind of popular travel trends right now. Right. FMB has really had this resurgence in hospitality with the project here. Wellness, obviously a huge piece of what hospitality is leaning into and what travelers are looking forward to. So having that flexibility between the brands too, I’m sure is a definitely a fun place to be when having these conversations with owners. But you talked about another project in Turks and Caicos. Genna Panagopoulos: Turks and Caicos. So we have an Anantara in Turks and Caicos that I believe will open in 2029. So in order we’ll have one in New York next year, and then 29 on Ontario trips and Caicos 2030, Miami. Ryan Embree: So no shortage of news on the Minor Hotel side. Congratulations to you and your team. Thank you. As you wrap up, I mean, what’s your vision? What’s your goal? As you bring Minor Hotels into the North American region? Genna Panagopoulos: Yeah. Well, if I think about next year at NYU, I hope people, more people are coming towards us. Excited about us being a different brand a different mindset. So we offer, we think of ourselves a little bit differently from the parent brands that are already established here because we have, you know, ownership still of most of our portfolio or we lease most of our portfolio. Um, so I hope there’s more inbound traffic coming towards my way. I hope people generally just walking down the street know us a little bit more. Certainly. You know, white Lotus helped us with Anantara, so there’s a lot of people who Oh, yes, are are diehard Anantara fans because of that. But that’s what I’m hoping for. And eventually we’d love to have an office here. So as long as we do our, our, our work, right, we, we get a strong pipeline, we’ll be able to have an office, a regional office in, in North America. Ryan Embree: Incredible. Well, super exciting. Can’t wait to catch up on all the exciting projects that you have at Minor Hotels. This is the first of a couple collaborations we’ll be doing with Minor hotels, so make sure you stay tuned. Congratulations again, Genna. And thank you for taking the time to speak with us today. Genna Panagopoulos: Thanks for having me. Ryan Embree: Hello everyone. Welcome to another episode of The Suite Spot. We are live on location, New York City at NYU IHIF. I’m here with Kevin Carey, President and CEO of the AHLA Foundation and COO of AHLA. Kevin, not your first time on the Suite Spot. Appreciate you taking some time and joining me here today. Kevin Carey: It’s lways a pleasure to spend time with you. Ryan Embree: Yeah, it’s fun.Incredible event so far. NYU obviously AHLA, AHLA Foundation Forward has a huge presence here. What does, you know, when you come to the event like this, we always talk in hospitality, these events are always going to exist no matter what. Technology comes down the pike because hospitality, we’re people, right. We like connecting. What is a successful NYU IHIF look like for you and your team? Kevin Carey: Well, It’s always an important period of time in the year at, as we approach midyear to check in with our members, to have that conversation about the advocacy issues we’re leading on behalf of the industry to hear how the business performance is tracking as well. And just to build enthusiasm and engagement for the events and the initiatives that we’re leading, not only in the association, but with the foundation as well. Ryan Embree: And none more important than the No Room for Trafficking initiative that you and your team have done some fabulous work on. I mean, we have all sorts of brands up on stage, sometimes with differing opinions here and there, but one cause that everyone in our industry has really gotten behind, and it’s the work of you and your team, is this No Room for Rrafficking? We always like to spread awareness of this. Talk to us a little about, about on that front and the progress you’re seeing and making. Kevin Carey: Well, this is a longstanding commitment that the industry has to human trafficking prevention and awareness. It started in 2019 with the development of the No Room For Trafficking Initiative and its focus on training and expanded in 2022 to include the Survivor Fund. So this is an area where AHLA and the foundation specifically serves as a convening entity to bring the industry together to rally around this important issue to work, to build awareness that’ll drive prevention of human trafficking, and also to gather funds to help support survivors. So this is a commitment not only on a longstanding basis, but also on a going forward basis as well. Ryan Embree: And such inspiring stories that you’ve told over the years. And people, you know, hoteliers and other people listening to this can really get behind and encourage people to kinda look at that initiative. Another kind of initiative that you’ve done in these events that, when we’re talking about these events is forward. We had a record breaking attendance a couple months ago in the spring. Talk to us about how that is. And you actually have some of those the forward initiatives here at NYU. Kevin Carey: We do within the foundation, our mission is to advance the workforce of the industry. And we do that through a focus not only on the current workforce, those over 2 million associates and colleagues who deliver hospitality day to day, but also how do we attract the future workforce to the industry. I talked about being a convening entity. The foundation brings together the industry across all segments. And there’s two areas where we believe we can make a difference. One is around human trafficking that we just spoke about, but also around the forward initiative which is geared towards, and its purposes to advance women in the hospitality industry and in leadership roles in the hospitality industry. So we were delighted to host our most recent forward conference in Atlanta, back in April. And the results were outstanding but really the momentum and the impact that that forward is having is really, which has us so enthusiastic and committed to this initiative moving forward. Ryan Embree: Yeah, that’s gotta be so cool to see industry leaders in hospitality raise their hands and want to be a part of this movement and really see the results from that. Kevin Carey: Well, it’s grown from just being a conference, that started in 2018 and had about 150 people at the first event to now over 1100 attendees. But as it as it has expanded from a conference to a leadership development curriculum. And you mentioned the forward exchange, which took place, here in New York earlier today, where it brought together over a hundred early and mid stage career and professionals of women and some men who are participating along with their peers to focus on networking and building those relationships so they can be well suited and take on roles, over time in the industry. Ryan Embree: Really cool to see. And again, probably some incredible stories coming from that over the years as the as the initiative matures. One thing that, that hospitality in general, really looking forward to, we got big summer, right? We’re usually really excited about summer is just ’cause of the travel season, kids being outta school. But this summer in particular, we’ve been looking forward to for a couple years. We got World Cup on the horizon, finally. We played just a couple miles from here and in America 250. What are you kind of hearing from hoteliers and how are AHLA really, gearing up for these big events, showcasing our industry? Kevin Carey: Well, these are really defining opportunities, for the industry to support those guests to welcome that demand, to drive the hospitality infrastructure over time. So there’s a lot of enthusiasm around the potential that that represents and as we’ve seen on stage already today the results in the first part of the year for the industry have been positive. a number of the outlooks are increasing the Revpar and ADR and other industry metrics, here with the these large events we are still waiting to see some of the demand materialize and we’re in a critical period of time right now, about 10 days out before the games to see that hopefully what’ll be a late surge in bookings, then translate into further business success for the industry. Ryan Embree: Yeah. Hopefully, and hopefully see that international travel continue to come back to North America, you know, a lot of hoteliers, hoping for that. Zooming in a little bit on a AHLA summertime, also time for interns, right. Come in and we’ve talked about this before. I mean, internships, mentorship in hospitality. So critical. I mean, throughout the years we’ve had these staffing shortages and we’ve talked about getting creative, our industry, getting creative on ways to fill those roles, internships being one of them. Talk about a little bit about the AHLA internship program and what these interns are are ready for this summer. Kevin Carey: Well, it’s not new. We’ve had a well established program from a number of years now. And, and we’re excited annually to bring a number of interns into our team across each function. we’ll have an interns in the government affairs team, in marketing, in the foundation. it’s so refreshing to engage them in our work to see their enthusiasm about their future to see them pick up valuable skills and experience of being in an office environment, learning more. And you know what? They, they have a real impact. They have some fun along the way as well and we have a wonderful session at the end where they get to present the results of some of the work in the initiatives that they’ve been working on. So it’s an annual opportunity that we look very forward to. And they’ll be starting just in about a week’s time. so it’ll be a great another repeatevent for us. Ryan Embree: Yeah. Love to see it. You know, again, any way that we can have more exposure to all sides of hospitality. Beause as we know, it’s not just, you know, the front desk. There’s so many elements to it and there’s none more demonstrated by how big our hospitality industry is than by the hospitality show that you put on. And this year is gonna be right in our backyard. In Miami, Florida. Get us a little bit excited about what we can expect at this year’s fourth annual. This is our fourth Hospitality Show, correct? Kevin Carey: So we started in Vegas, went to San Antonio, we’re in Denver last year. A lot of enthusiasm coming out of Denver for the content. And then what’s unique about the hospitality show is it’s really the only conference in the industry with a focus on operations and how operations is driving profitability. So there’s a terrific enthusiasm and people are looking forward to being in Miami, coming together in Q4, all segments of the industry represented. So we’ll have the brands we’ll have management companies, owners, service providers, suppliers, independent hotels also play an important role in the industry. So we’re about to open registration and that’ll really kickstart, the focus on November 2-4 in Miami. Ryan Embree: Well we’re looking forward to it. We’re hoping to go 4/4 on covering the hospitality show. Especially with it being right there in our backyard. Kevin, we know you’re busy. Thank you so much for taking the time to speak with us today on some of these important initiatives. And hopefully we’ll see you in Miami in just a few months. Kevin Carey: Hopefully I have something else on. Ryan Embree: Alright. Appreciate it. Thanks. Kevin Carey: Thank you so much. Ryan Embree: Hello everyone. Ryan Embree. here live at NYU IHIF 2026 here with Jan the National Director of Hospitality Analytics at CoStar. Jan, you were just on a panel. Thanks for taking the time to jump off and speak with us. Jan Freitag: Absolutely. Ryan Embree: State of the state, love the name obviously you’re the north star of hospitality data out there. Jan, revised forecasts just came out. Talk to us a little bit about those points that you were sharing with the audience today. Jan Freitag: So we’re suggesting that RevPAR this year is gonna grow 2.8%, which is very different from the way we looked at the world at the ALIS Hotel Investment Conference. First quarter performance was much more stronger than we had expected than the public traded companies had expected the brands or the …. And a lot of them have revised their year end forecast up. So, you know, we followed suit. Now they, most of them just revised their forecast by the outperformance of Q1. But we’re suggesting No, no, there’s momentum. So we actually took our forecast up by a lot more to 2.8%, 2% driven by ADR and 0.8 by occupancy, which is really good to see. ’cause it implies that demand is outpacing supply. You know, so we get occupancy gains and then some pricing power. Ryan Embree: Love to see that. I mean we were here a year ago with Amanda who is talking about trying to decipher through the noise, a lot of noise right now. But great to see the momentum with those revisions and so important to have those revisions because the landscape can change ever so rapidly as you know. But talking about the supply, talk to us a little bit, go into a little bit more in depth and then obviously every market is different. What markets right now are running a little bit hot on supply? Jan Freitag: Yeah, so fational forecast for Supply goes to 0.4%, not a whole lot. Right. The long run average is 1.6, so we’re well below that. The number of rooms in construction used to be between, we know, 150,000 – 160,000. It’s now 140,000. So it’s sort of staying there. It’s just so expensive to get anything done. And interest rates are still high and could go higher. Who knows, we’re not making interest rate forecast. But you know, there’s definitely no longer this idea of how we should cut, you know, interest rates twice this year or so. I think those days are gone, you know, and so now the question is, okay, so where are people getting things done? And you can look at it by markets. So a couple of them are usual suspects. So Nashville, very strong, Dallas, Houston, Denver, Phoenix. So those are markets sort of in the smile states, sort of in the Sunbelt that still get a lot of people moving there. And you know, migration determines the economic performance. And so we’re seeing a lot more room supply growth there, but there’re just a lot of markets where it’s very, very hard to get anything done because of that higher cost of construction and of the higher interest rate. So I would single out those markets, but overall the picture is rather muted. On the supply side. So what that means then, for existing owners is the time to renovate is right now percent. Because you want to be the new kid on the block with the new hotel, there’s not a lot of new competition coming. This is time to renovate and really put your best foot forward. Ryan Embree: A hundred percent. And you know, one of the other topics we talked about, or you talked about rather on stage was segments right now luxury, doing very, very well leading the way. Obviously a lot of bifurcation, that K-shaped economy. What are you seeing across the segments right now? Jan Freitag: Yeah, I mean there are no wrong answers in luxury, right? I mean, luxury last year was the winner. This year is the winner. We’re projecting, very healthy RevPAR growth double of what we’re saying for the nation. We think the luxury class can materialize. And then what’s really nice to see is that for upscale upper midscale midscale, there’s also RevPAR growth there, which we hadn’t seen last year. And to me that speaks to the strength really of the American economy. But it sort of permeates toward all income classes. Now the exception is was and unfortunately will be likely the economy sector now even there we’re suggesting RevPAR’s growing, but it’s just, you know, 0.8% call that flat for all intent and purposes. Ryan Embree: International travel too, obviously World Cup on the heels of this. What are you see any interesting data points there you wanna share just right ahead of the America 250 and World Cup? Jan Freitag: There are two very different vibes coming from the panel that I was on. Adam Sacks prior to US presenting was talking about, oh wow, international inbound is really still quite a bit lower than it was in 2019. But the gentleman from the NTTO, the National Travel Tourism Organization was like, no, we’re projecting rock and roll, really strong growth of international inbound. The truth is probably gonna somewhere in the tween this year. World Cup is gonna drive a lot of international travelers. What I’m wondering about though is are some of those travelers basically stealing from 2025 and from 2027 and now they’re saying, oh, let’s not go in 25, let’s go in 26. And then when next year comes around, they’re like, we just went to the us you know, and not go in 27 either. So I just hope that the more positive spin from the government comes true and this and, and not that we’re just sort of packing everything into this year and then international inbound is gonna deteriorate. Ryan Embree: So many interesting data points. Anyone in particular you have your eyes on where, you know, obviously we love a nice rosy outlook and try to look for opportunities through all of the data that’s out there, but anyone’s that are like unexpected data points or something that you’re at least keeping an eye on right now? Jan Freitag: Yeah, so there are a couple, but the one that I’m really focused on is consumer price index. Everything is getting more expensive and so that means that hotels will see their cost increase. And the big question then is how much of that cost increase can they pass on to the customer? And I just told you that our ADR forecast for this year is 2% and inflation is gonna be what, 3.5 or something? I mean, it’s gonna be much more than that outpacing that. So that’s really the crux and I think that’s what we here at NYU, to talk to owners and investors and management companies have figure out, okay, so how can we keep our margins expanding even maybe how do you do that in this environment where top line growth may be not keeping pace with with inflation. So the CPI number is really something I’m keeping an eye on. Ryan Embree: Yeah, pretty challenging time right now. when it comes to margins and hospitality that we, again, trying to suss out and figure out here, what are those maybe opportunistic data points that you’re seeing that you’re saying this, this is really good, maybe unexpected on the other end of the spectrum? Jan Freitag: Yeah, I think the Americans are wealthier than they ever have been. And Adam Sachs has this fascinating data point where he shows at the emerge that the middle class in America is shrinking, but part of it is because a lot more people are rich. So people are moving up the income chain and that allows ’em then to spend more money on experiences, very clear that people favor experiences over goods. And we are right in that Suite Spot. Ryan Embree: That continues to be the experience over stuff. We love to see that. And then you’re kind of here celebrating an anniversary/birthday of your podcast, is it? You know you’re, you’re usually, typically used to be in the host, not so much the guests, so thank you. Tell us a little bit more and maybe where our hotel audience can find the insights that you provide. Jan Freitag: Yeah, and thank you for having me. So we have our own podcast. My colleague Isaac Collazo from STR and myself get together once a month. It’s called Tell Me More, A Hospitality Data podcast. And three years ago at juniors across the street over cheesecake, we sort of hatched the idea. And so now we’re, I don’t know, like, you know, almost 30 episodes into it. And we get together once a month and we just sort of riff on the data and hopefully you can join us. Ryan Embree: I love it. That’s awesome. Well, Jan, thank you so much. Very busy time. Appreciate you stopping by and talking to us. Jan Freitag: My pleasure. Thank you so much. Ryan Embree: Alright. Hello everyone. Ryan Embree here with the Suite Spot. We are live at NYU IHIF 2026 here with Larry Cuculic, President and CEO of BWH Hotels. Larry, thank you so much for taking time outta your busy schedule to join us here on the Suite Spot. Larry Cuculic: It’s my absolute pleasure. Thank you for the invitation and for allowing me to share some thoughts with regard to the success and BWH hotels. Ryan Embree: Yeah. We’ve got a lot to cover cause you’ve got a lot going on right now. But let’s start with this event, right? NYU IHIF, lot of major brands here what does a successful NYU look like for you and your team? Larry Cuculic: To us, a successful NYU is interacting with developers and investors such that they’re aware of what BWH has become. We’re now 18 brands, over 4,000 hotels in over a hundred countries and territories from premium economy up to luxury hotels. We acquired world hotels about six years ago. And so it really is continuing to educate about the possibilities of their associating with BWH hotels because we would be singularly focused on their success if they partner with us. And you’re also in a powerhouse panel tomorrow, the Executive Exchange Hospitality Performance Strategies for Success give our audience a little bit a sneak peek of what you’re gonna be talking about on stage. Larry Cuculic: Well, we’re gonna be talking about of course, the economy near term as well as long term projections for what that looks like. we’ll be talking about the importance of loyalty programs. We’ll be talking about the impact of really the economy and things like labor insurance and how we as brands need to focus on the success of our hotels by offering them programs to really offset that impact on net RevPAR. Ryan Embree: And I’m sure one of the subjects and topics that we brought up on your panel, certainly something we talk about these hospitality events is, AI and technology. And we had the privilege of having SVP and your CTO Bill Ryan on at the Hospitality Show a couple months in October, gave us a little bit of lay of the land when it came to AI and technology. How do you feel personally that this technology is really changing the way that travelers choose hotels, but also how they have their hotel experience, their guest experience? Larry Cuculic: Sure. So the first thing we’re doing is we’re reinvesting in our .com as well as our app. And we want them to be easy to use intuitive, but we also wanna make sure they have content that convinces guests when they’re shopping that our hotels will provide them kind of that customization and personalization. ’cause it’s not about a commodity, a hotel room, it’s about all those things that we can offer. By way of example we’re partnering with an AI agency to kind of harvest content with regard to where our hotels are located in those communities. At the same time, we’ll take that harvested content and we’ll filter it through our hoteliers who live in those communities and create the content that will be the AI answer when somebody’s looking for a place to stay. And they’ll know that we want them to have the best possible time while we’re in that community, not just staying with us as a hotel, that we recognize that people don’t want just to stay, they want really a journey. Ryan Embree: Yeah. Something that we aspire in hospitality to provide that not just a hotel stay, but an experience. And we talked to Joelle Park about the power of storytelling and how that can play a component in one of the best stories, obviously that you just had a really exciting announcement with is America 250 and the story of this great nation. So talk to us a little bit about that partnership and what BWH Hotels is doing with America 250. Larry Cuculic: Well, we are a sponsor of America 250, and we’re encouraging our hoteliers to embrace the 250th anniversary of the birth of our nation. And part of that is not just USA 250, we also have the 100th anniversary of Route 66. We have hotels that have been with us, believe it or not, we have a hotel that’s been with us 75 years. And it speaks to the heritage of our brand. So we’ll be leaning into the history of this great country. At the same time we’ll be leaning into the history of our great brand and encouraging people to travel and see the United States and all that it has to offer no matter where you go. And the beauty of our hotels we have 2200 of them in North America and wherever they’re going to go, we want them to know that we have a hotel that will meet their travel leads such that they can experience really the 250th anniversary of USA. Ryan Embree: Yeah. It’s a really exciting partnership right in at an inflection point with the World Cup as well. So introducing maybe some international travel also to the brand and the nation. You know, you’re a great following on LinkedIn. I encourage our audience, if you haven’t, make sure you follow Larry, but one of the things you’re reflecting on your North American regional conferences that you’ve done up to this point in 2026 and you quoted to say that you want BWH hotels to become the most welcoming brand in the world. What does that mean to you and how is your team working to achieve that? Larry Cuculic: Well, welcoming means that we’re gracious hosts, but it also means that we’re, I’ll call it easy to do business with understanding, being flexible and recognizing that we are somebody you’d want to be partners with. Whenever anyone walks into a hotel we should tell them, you know, welcome, we’re glad you’re here by way of example. But I used to think of it that way in terms of being gracious host and everything that happens at the hotel, but when I think of welcoming, I also want to think about our new.com and app. Again, it’s that ease of use and personalization so that when you go there, we know it’s you and we want to help you make good decisions with regard to travel. So welcoming is about ease of.com, the app we’re redoing our loyalty program. I think Joel probably talked to you about that. And we want the loyalty program to be welcoming as well. Well, what does that mean? Well, that means that when you interact with us, you’ll know how many points you have. You’ll know they never expire. You’ll know that you can use them to buy down the price of a room at any point. That you don’t have to, to have as many points for a full stay to leverage those points. It’s a value of the program. And of course welcoming. I always lean into the importance of being not just a gracious host, but somebody that appreciates our guests. To me, that’s welcoming because you have to recognize that people, they’re traveling with their families, it’s something that you wanna leave a terrific impression on them and their family. And you also want them to know that we appreciate that they’ve spent their hard-earned money staying with us. To me, that’s being appreciative gracious hosts. And that’s part of the welcoming. It’s not, the welcoming doesn’t just happen when they enter. Welcoming has to be entire stay. Ryan Embree: So key. And the brands that kind of make that connection with their travelers, especially in a time where, I mean, we just talked about in this interview AI technology, there’s way more places become disconnected, to find that connection, that human to human connection. Very important right now. So as we wrap up the interview, obviously at these events we’re always, whether it’s the hospitality data we’re looking into, whether it’s a conversation, we’re always trying to take a glimpse into the future, trying to predict that future. Larry what do you see, what’s your vision for the future of BWH Hotels. Larry Cuculic: People will always wanna travel. And for us, if we can become that welcoming brand that appreciates our guests, we will build that loyalty. When we build that loyalty, that program will grow. Our revenue delivery brand direct will grow which is the lowest cost for us in terms of that reservation for our hoteliers but what I think I would also offer to you is we’re also very focused on thoughtful growth. And what that means is if you grow your loyalty program, you also wanna make sure you have hotels that are in locations where guests want to go. Be it London, be it Rome, be it Frankfurt, be it Bangkok, no matter where it is around the world. And so, you know, we have a, a focus goal of 5,000 hotels, which means we will grow thoughtfully, but with our guests in mind. And because when we have a hotel join us, our sole focus is the success of that hotel as well as having a quality hotel where guests want to go. Ryan Embree: That’s awesome. Well, we wish you nothing but success. Hopefully maybe can join the Suite Spot when that 5,000 hotel opens and we can celebrate that together. But in the meantime, thank you, Larry, for taking the time out of your day to join us here on the Suite spot. Larry Cuculic: Well, thank you. Thank you for the opportunity. Very much appreciate it. Speaker 2: To join our loyalty program, be sure to subscribe and give us a five star reading on iTunes. Suite Spot is produced by Travel Media Group. Our editor is Brandon Bell with Cover Art by Bary Gordon. I’m your host Ryan Embree, and we hope you enjoyed your stay.

On today's episode, Editor in Chief Sarah Wheeler talks with Senior Real Estate Reporter Brooklee Han about the competition for listings between Multiple Listing Services (MLSs) who are spreading beyond their usual geographical boundaries, as well as listing portals like Zillow and CoStar. Related to this episode: CoStar targets Zillow Preview in amicus filing over MRED feed MLSs compete on rules and partnerships as listing control shifts HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ More info about HousingWire The Top 5: Existing home sales beat estimates, what it signals for 2026 Synergy One to merge with APM; Steve Majerus named president MLSs compete on rules and partnerships as listing control shifts Outgoing Frank Cassidy on running FHA more like a business May inflation climbs to 4.2%, Fed likely stays on hold The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate.

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James Harris built his real estate career from scratch after relocating from the UK to Los Angeles. His latest venture is Breezy, an AI tool for real estate agents designed to reduce the administrative load that eats into most agents' days. Breezy recently raised a $10 million pre-seed round led by Ribbit Capital with participation from Fifth Wall, DST Global, and others. Over the past decade he's closed more than $6 billion in luxury residential sales across Beverly Hills and the Platinum Triangle, and appeared on Bravo's Million Dollar Listing LA for seven seasons spanning over nine years before stepping away to focus on his next chapter. He also hosts Rise Above the Ranks, where he talks through the practical side of the business: negotiation, discipline, and how to build something that lasts.(2:11) - What Proptech Gets Wrong About Real Estate Agents(6:49) - Realtor Painpoints(8:54) - What is Breezy(13:32) - Why Now(16:26) - Real Estate Agent & Founder Resiliency(18:31) - Brand, Distribution & Early Traction(21:42) - AI Agents Enhance and/or Replace Real Estate Agents(24:20) - First Mover Advantage(26:36) - What Parts of Real Estate Will Be Human-driven in 3-5 years(28:24) - The Power of Data & Workflow Platforms(29:16) - What Changes in Real Estate Over the Next 2-3 Years?(30:49) - Collaboration Superpower: The Founder Entrepreneur

Toby Chapman from OC&C Strategy returns to the PPW Pod for a follow-up on last year's debate around AI and real estate marketplaces. A year on from his "AI truck" prediction, Ed, Simon and Toby unpack why share prices are down 30-50%, whether portals are undervalued or were overvalued, and where the real existential risks actually lie.Chapters:00:00 Intro01:03 Has the AI truck hit? Investor markets vs operating performance04:49 Undervalued today, or overvalued in the past?07:54 OC&C research: where does the industry think the risk is coming from?12:12 Integrate with the AI labs (Chat GPT etc.) or stay out like CoStar & Airbnb?17:18 Why aren't portals shaping the AI narrative themselves?21:01 Simon's pushback: are we having the wrong conversation entirely?25:18 Will OpenAI build a vertical property portal? (Spoiler: probably not)29:00 The whole property buying journey — portals' real battleground31:01 Lead attribution, the trust dilemma & whose side is the portal on?38:00 The generational shift — are portals built for the wrong audience?42:29 Toby's counter: leaders double down, opportunity beyond search & discovery44:15 Wrap-up — reconvene this time next yearGuest: Toby Chapman, Partner at OC&C Strategy Consultants — https://www.linkedin.com/in/toby-chapman-8a559a15/Presented by:- Edmund Keith — https://www.linkedin.com/in/edmund-keith/- Simon Baker — https://www.linkedin.com/in/stbaker/

Keith talks with data-driven investor Neal Bawa, the "mad scientist of multifamily," about why apartment values have dropped 20%–30% while single-family prices have stayed resilient.  They break down how interest rate shocks, the homeowner lock-in effect, and a wave of new multifamily supply are reshaping returns for today's investors.  Keith and Neal also dissect the build-to-rent model—who it really serves, how apartment oversupply is pressuring its rents, and why pending legislation could upend the space.  Neal closes with a specific, data-backed timeline for when multifamily rents and values may finally turn the corner, giving listeners a concrete roadmap instead of vague market guesses. Resources: Grocapitus Website - https://www.grocapitus.com Multifamily U's Free eBook: Location Magic - https://multifamilyu.com/lp/location-magic-ebook/ Multifamily U's Investor Club – https://multifamilyu.com/club Episode Page: GetRichEducation.com/609 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. To get in the best physical, mental, and professional shape of your life, go to DanielThomasHind.com and apply for Daniel's intensive 1-on-1 coaching for burnt-out entrepreneurs and executives. Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:00   Keith, welcome to GRE. I'm your host, Keith Weinhold. The single-family real estate market is steady, but with apartment building values down 20 to 30% since 2022 when will the multifamily Armageddon end? We ask our qualified guest, and how will slowing birth rates in immigration affect real estate? And more today on Get Rich Education. You know, Mid South Home Buyers, that top Memphis turnkey provider. I learned that a secret weapon behind their explosive growth is more than just you buying their properties, it's an executive coach for nine years now, their CEO, Terry Kerr, and his COO, Pat Nix, have worked privately with a coach who I've now learned from too, and he doesn't market himself online anywhere. After 12 years behind the scenes, that coach is now making himself available exclusively for GRE listeners. His name is Daniel Thomas Hind. If you're a hard-charging business owner or investor who wants to get in the best shape of your life, physically, mentally, and professionally, you can fill out an application for a free consult. This is private one on one coaching for those willing to go to uncommon lengths to achieve uncommon results. Thanks to Daniel, we've all become better leaders, better operators, and better men. It started by showing up for ourselves. Now it's your turn. Go to Daniel Thomas hind.com H I N D, that's Daniel Thomas hind.com and sign up before Spotsville Flock homes helps multifamily owners exit the operator grind, whether it's your six plex or a 50 unit apartment, through a 721 exchange. This defers your capital gains tax. It's a strategy long used by institutions. Now you can swap tenants and toilets for passive income and zero management. Request your initial valuations. See if your property qualifies at flockhomes.com/gre That's F L O C K homes dot com slash G R E.   Neal Bawa  2:13   You're listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education.   Keith Weinhold  2:29   Welcome to GRE from Valencia, Spain to Valencia, California, and across 188 nations worldwide. America's favorite shaved mammal on a microphone is back with you for another wealth building week. I'm Keith Weinhold, and you're listening to Get Rich Education. The world's biggest problems are the world's biggest businesses. That's not a coincidence, and that's why we discuss housing here. And there's been a chronic shortage of affordable housing last month at a commencement speech, Harrison Ford, yes, the guy that played both Han Solo and Indiana Jones, talked about how a fulfilling life has both passion and purpose. Passion is what gets you out of bed in the morning, purpose is what helps you sleep at night, you and I. We can bring this mindset to our lifestyle, to the business we do, and to our investing. Treating tenants well is what helps real estate investors sleep well at night. While we're doing well, we can be doing good too. Multifamily syndicators keep failing, going out of business, and losing all of their investors' money due to mortgage rate resets. It just keeps happening. What this really means, that these groups that pooled together investor money to buy apartment buildings, largely that were set up in 2022 and earlier keep blowing up almost fully due to the fact that interest rates reset higher. Some of them had a fixed rate for five years. Well, rates spiked four years ago, and that's why a lot of them have yet to blow up, and these apartments have lost so much value that no one will refinance them, you know. Even if that apartment operator increased the net operating income over the years, even if rents went up, it doesn't matter. So, you still haven't heard the last of it. Do you remember a couple years ago, when a lot of people in the apartment space, they were saying just stay alive till 25 and that nonsense, like if you keep your head above water until 2025 oh well, then rates are certainly going to fall, and everyone's going to be okay. Well, 2025 is long gone.    Keith Weinhold  5:01   Mortgage rates haven't fallen in any significant way, so that survive until 25 thing or whatever mantra derivative people used that was a farce, like I've said on the show here for years. You cannot predict interest rates, so I didn't make the call that they were going to go up or down at all, because you can't predict them, but so many people said, oh, rates will fall substantially by now, no way, you just can't make that assumption, you've got to take history over hunches, and all of that, a lot of those multifamily deals 100% depended. depended on refinancing at favorable rates, and that's exactly why they failed. A surefire way to look foolish is to predict interest rates. We'll talk more about the multifamily Armageddon with today's guest. I also want to get into what's called the 21st century road to housing act, because that became one of the most hotly debated housing policy provisions this year. And what this is, is a Senate bill, and it would require certain large institutional investors that develop these bills to rent single family communities. It would force them to sell those homes to individual buyers within seven years. So, in other words, what a big firm could do is build a neighborhood of rental homes, lease them for up to seven years, but they couldn't hold on to them any longer than that. They couldn't hold them indefinitely as rentals, this bill is not aimed at you, the individual investor. It is aimed at big institutions, and what I mean by that is that's generally defined as owning 350 or more homes. That's what we're talking about here. Small landlords and mom and pop investors are not the target, it targets corporate portfolios, and this means groups whose names you've probably heard of, like Blackstone, First Key Homes, Progress Residential, and Invitation Homes. They are some of the heavyweights that the government is looking to clamp down on, so whenever you hear someone talk about big Wall Street landlords, that is who they're talking about. Now, some groups are pretty worried about the 21st Century Road to Housing Act, like the NHB, that's the National Association of Home Builders, and a lot of multifamily groups are concerned, and why is that? Well, the effect is it could dramatically reduce new housing production.   Keith Weinhold  7:44   See, a big institution like First Key Homes or Blackstone, they wouldn't want to even get into this business anymore. They wouldn't want to build big build to rent communities anymore if they have to sell them all within seven years. See, they want to buy and hold for the long term, kind of like what you and I are doing, because you and I know that owning a group of selective buy and hold single family rentals is a really profitable place to be, but so if they don't want to build, then that creates a reduction in supply, which could make prices go up, and then obviously hurt those trying to afford their own home. Well, that would defeat the purpose of this whole thing. I mean, my gosh, this always seems to happen when government gets involved. So, the 21st Century Road to Housing Act could limit supply, which is the exact opposite of its intent to get first-time home buyers into their first home, and if this passes, it does have bipartisan support. This lower supply, then yes, indeed puts upward pressure on prices. Just amazing. So then it could actually go on to help the everyday mom and pop investor, like you and I, that already owns property, the individual at last check, though they're looking to pass a version that still restricts some of these giant institutions from getting into build to rents, but yet it does not have that seven year sale requirement. What's really important to remember here is that Washington, they're looking to stifle big Wall Street players from the rental market, which could reduce supply. They're not targeting individual investors. The context that's important is that these groups, they own 10s of 1000s of homes, they don't own hundreds of 1000s, and they don't own a million, so it's a really small percentage of the housing market, whatever direction policy breaks, then the headlines that it creates are just greater in magnitude than the effect on the market is. It's an important frame of reference here. Let's meet this week's guest. This week we're welcoming back a guest that we haven't heard from in a year or two in real estate circles. He is popularly known as the mad scientist of multifamily. He's quite an in-demand speaker. He has a $500 million multifamily portfolio that he essentially shares with over 1300 investors. He's sharp, a good educator, and a straight shooter. That's why he's here. It's a warm welcome back to Neal Bawa.   Neal Bawa  10:32   Thanks for having me on the show again. It's delightful to be here, and so many interesting things to talk about in the world these days.   Keith Weinhold  10:38   There really are.. I don't know if we can get it all in, Bawa is spelled B A W A. Neal, I want to get to your future housing market outlook later. How you think the future looks, including when multi families quasi Armageddon might end. But first, you're known as a data driven real estate guy. Tell us about that, and how being data driven makes you profitable.   Neal Bawa  11:03   I see concern, and I'll tell you why. The single family and multifamily market have been atrociously incredibly divergent since the first quarter of 2022 They have not tracked yet each other at all, even though if you look at the last 50 years, they tend to track each other. So you know, 2008 was a Armageddon for single family, Armageddon for multifamily, and they both sort of came up in 2012 2013 and then they had a really good time until Covid.   Keith Weinhold  11:30   Yeah,   Neal Bawa  11:31   but the second quarter of 2022 is when Fed started raising rates, and since then we've sort of slid - multifamily has gone down in terms of pricing between 20 and 30% depending upon the metro, you know, and depending upon whether it's new construction, new construction assets have gone down more than 30% and existing assets that are filled up have gone down by 20 to 30% depending upon the metro. So, metros that have a large amount of supply, closer to 30% decline in value, the metros that have less supply probably closer to 20% decline in value, right.   Keith Weinhold  12:03   Demand demand has been pretty resilient. It's more of a supply story.   Neal Bawa  12:06   It's a huge supply story, right. So, if you look at, you know, occupancy, essentially what's happened is there was so much supply that came in that really people started on those projects in 2022 maybe they didn't start a construction until 2023 they didn't finish construction until 2025 so they started leasing up in 2025 They had to give offer concessions two months, sometimes three months free, and so that pushed down the rents in 2025. And they're not done, because you typically can't rent an apartment in six months. If it's brand new, it's going to take you about 18 months to rent it, and sometimes 24 months, and so it's affected our rents in 2025 it's affecting our rents in 2026. Now it's unlikely to affect it in 2027 but we'll go there, you know, at a later stage. But at the moment, we, what we've seen is negative rent growth in the United States for multifamily for the last 12 to 15 months, and what I think is going to be negative rent growth in Q of this year and Q2 of this year, so Q1 was negative, Q2, which we are in now, is likely to be negative or flat now. Single family, on the other hand, has gone in a different direction, which has been very difficult to understand, and I believe it's taken me a while to really understand this, but I think I've finally figured it out. Single family prices are not down since 2022 which makes no sense at all, because the average mortgage in the United States today is almost double, almost double, not quite double, but almost double of what it was in at the beginning of 2022 when interest rates were about 3.3 3.4% Right now we're sitting around, you know, six and a half percent interest rates, so not quite doubled interest rates, but they've obviously gone up a fair bit, and as a result, your average, you know, mortgage has almost doubled, but home prices haven't dropped, which makes no sense if you really think about it, because home prices are a factor of demand, and they're also a factor of people's ability to pay, so if all of a sudden within four years you're paying, the mortgage is doubled, then less people are going to be able to buy, but it stayed up, the market has stayed up, and the biggest reason it stayed up is because of what is known as the lock-in effect. So, the US market typically has a million new homes every year, and there's more than a million existing homes that are transacted, right? So, it's an open market, it's a perfect competition market, but it hasn't been perfect competition for the last four years, because so many people locked in ridiculously low interest rates.    Neal Bawa  14:28   Perfect example, in 2021 and 2022 I have a 15 year mortgage at 1.75% If I sell my house back to myself, my mortgage quadruples, quadruples, right, because it goes from 1.75% to six and a half percent, so I can't even imagine even think about leaving my home, right, because it's just such a perfect loan. Most people don't have anywhere near 1.75% but there's lots of people with more mortgages in the 3% three and a half percent, and 4% range that basically can't go anywhere, and because those homes are not coming into the market. The last three years the market has had this unusual not enough supply factor, and that's been keeping prices up. That is ending. That is ending, because what we've been tracking is the percentage of homes in the United States that have low mortgages. Low is simply defined as anything under four and a half percent, and that percentage is going down each quarter, because you know divorces happen, deaths happen, you know people move for jobs, and so every time that happens, that locked in rate goes away, because you sell your home and move on, and so for a while that lock in effect was predominant, it was controlling everything, but as time has gone on, interest rates were higher in 2324 2526 For also almost four years have passed since the rate started going up. So each quarter the percentage of homes in the US that have these low interest rates has slowly moved down, and we're almost back to a normal timeframe.   Neal Bawa  15:53   And this is causing the single family market to not have a conniption, but we're starting to see a balancing of the market, where it's not just a buyer's market anymore, in some places it's actually seller's market, some places it's a buyer's market. So we're now starting to see home prices drop in number of markets in the United States. I can't say that they've dropped in super majors, but we're seeing a flattening out effect of home prices in most metros in the US, and there should be a flattening effect. Just to be blunt, I mean, obviously I own a bunch of single-family homes, so I just wanted them to keep going up for selfish reasons. But if you think about it, we had huge home price growth in like 30 plus percent in number of years, 2021 22 and even 23 and during those years, salaries only went up by two to 3% a year. In one year, they went up by 4% and rents also went up like crazy. There was a 2021 was 15% rent growth year. So, at some point, there had to be an adjustment, and we are in that period of adjustment where single family prices are basically flat on a national basis. Yes, going up in the San Francisco Bay Area because of AI, and going up in a couple other technology-heavy metros because of AI, but otherwise fairly flat, and I don't expect that to change for the next year. So, my forecast is next 12 to 18 months, home prices in the US are going to be flat on a nominal basis, they're going to be down on an inflation-adjusted basis, but you know, because of the Iran, more inflation's three and a half percent, so home prices should go up three and a half percent. So, if they stay where they are, well, they're really dropping three and a half percent.   Keith Weinhold  17:29   Yeah, before this year began, I released our forecast, it was for 2% nominal home price appreciation in the one to four unit space for the US this year, and I still like how that looks. There's so much to unpack with what you just talked about. In my view, there's nothing unusual at all that when mortgage rates rose sharply a few years ago, that home prices rose as well. Why? Because actually, that's what usually happens, which is counterintuitive to most people. In all of our lifetimes, residential real estate prices have only fallen significantly one time, that was around 2008 due to a number of unusual circumstances. The only thing that's a bit different this time is, of course, how fast rates increased in 2022 and 2023 and people wondering if residential real estate prices could still keep up, and they certainly have, but yeah, you brought up this dichotomy, this bifurcation about how the apartment market and the one to four unit space kind of separated from each other in 2022 or 2023 That's what's so interesting.   Neal Bawa  18:36   I do want to point out a couple things, though, and I don't want to be a Pollyanna here and talk about negative stuff, but I think that there's big difference between 2008 and that timeframe and where we are today, and that difference is, and it has multiple parts. Not all of your audience is aware of this. Until about 2012 the United States had very reasonable birth rates. You know, we were one of those countries that had avoided the debacle that Japan, Korea, China, and a number of other countries are seeing South Korea being the absolute worst, where basically they were producing one baby per generation, where you need about 2.2 babies just to kind of keep your population where it is, right, and the US was unusually high in that, and that we were still above that threshold, which meant that our population would continue to grow and not fall. Now, there was two reasons our population was growing: One, we had more than 2.2 babies per household, and second, we had a very significant amount of legal and a very significant amount of illegal or undocumented immigration. Right, so we had both of those pipelines today. All three of those have flipped, so the United States now basically looks like Korea or China or Japan in that every household is producing about one and a half babies, which means that our population growth, which hasn't stopped yet, because it takes a while for these things to catch. Up is likely to stop, like it's, and at some point decline again. Luckily, we're not there yet. The US is a fairly young population, unlike Japan, which is one of the oldest populations in the world. So, it'll, we'll still continue to see population growth, but there is no doubt. And you can ask Chat GPT, right? How has population growth in the United States slowed over the last 20 years.    Neal Bawa  19:22   Make me a graph, and it will make you a very nice graph, and you'll very clearly see there's a slowdown in population growth. The second part is both documented and undocumented immigration. It's my estimate that since this administration took over, somewhere between half 1,000,001 million people have left the United States. Now it's very difficult to get an actual number, as you can imagine. A number of these people were undocumented, so we didn't really know how many there were to begin with. And a number of them, when they left, they also left by an undocumented rate, that you know, path. So we've lost a bunch of those people, and also the people that have stayed in the country, we've lost a number of them in the workforce. Here's a perfect anecdote, Keith. About 33% of the construction workforce in the United States was undocumented, one in three. In Texas, as much as 40%   Keith Weinhold  19:45   Yeah, that's huge.   Neal Bawa  19:45   It's very significant. Number of those people don't show up for work anymore. I don't think they've left the US, at least I don't think so. But they don't show up for work anymore, because that's how they get caught, right. So, what we've seen is that the construction workforce in the United States has become been decimated over the last 12 months, and the impact is much greater in the second half of 2025 than the first half. Why? Because even though they wanted to do ICE enforcement, they just simply didn't have enough agents, enough facilities, enough judges. When the second half of last year, they sort of started catching up on that, hiring more agents, getting more facilities, getting more judges, and so we started to see a real challenge there. I have properties in 10 markets in the US, and what I can say is about seven of those markets, mostly Southern markets, I am beginning to see dropping occupancy related to this phenomenon. I'm seeing a reduction, and so markets like Georgia and Texas, Florida are more hit than my northern markets like Idaho. I haven't seen any impact at all, but these southern markets, multiple properties, multiple metros, I'm seeing this - people, mostly of Spanish, Mexican origin, not renewing leases. I don't know what they're doing. I don't know if they're sleeping in their cars. I don't know if they're basically just, you know, staying with mom or staying with, you know, some other family. But I'm seeing a very, very big pullback in my leases tied to this, and occupancy is dropping in those markets that are heavily Hispanic. And so I'm seeing the impact of that on landlords, but I also know that there's an impact on the US at all, and overall demand on rentals, whether it's single family or multifamily. This is a significant impact, because I don't think that the Republicans are going to make a U-turn on this. I don't want to get political, but you know, stating the obvious.   Keith Weinhold  19:45   Yes, United States had its biggest birth year in 2007 when there were more than 4 million babies born. The average age of the first time homebuyer today is 40 years old. If that holds true, that peak would take place in 2047 And then, yes, to your point about changes in immigration, yes, it sounds like a potentially a reduction in demand with what you're talking about, with some vacancies, and also maybe a reduction in supply when you have fewer construction workers to build these places as well, we're talking about building properties. Neal, I want to talk to you about the build to rent space. Somewhat is build to rent better than traditional real estate? I think that's what we really want to know. And for those that don't know, build to rent means when you construct a property where from day one that construction project is built for a tenant, not an owner occupant. I see a lot of pros and cons there. Can you talk to us about the trade-offs between build to rent and traditional real estate?   Neal Bawa  19:52   Yeah, if you think about it, it's a really terrible word, built to rent, because if you think about the word built to rent should be apartments, right, but actually doesn't mean apartments, right? So, built to rent actually means single family or town homes that were built to rent out, right? And then you're like, why don't they just said built to rent apartments and town homes? Well, you know, was too long an acronym, and we suck at acronyms anyway. But BTR, or built to rent, is essentially building single family or town homes, but specifically building them to rent, and it doesn't include any apartments at all, right? And the reason why the BTR market was growing in the last five or six years is that roughly 18 million American families can no longer afford to buy starter single family homes, you know, and by starter I mean, small old single-family homes. That's how Americans usually started, you know, in their 20s and 30s. They would buy these homes, some of them, but they would fix up, and then they over time, in their 30s, late 30s and 40s and 50s, they would upgrade, and then at starting the 50s, it would flatten out, and then the 60s, they would start to downgrade, right? That's been a typical thing that's happened in America for 56 5070, years. Well, that is, cannot happen anymore. And it broke in 2022 until 2022 It was a normal cycle beyond 2022 because interest rates almost doubled, and the mortgages almost doubled, but the incomes only increased by 10 to 20% There became this orphaned generation of Americans, roughly 18 million families, that simply cannot afford to buy that starter home, and they are now forever renters. They don't know it. They think that they're going to catch up at some point, but five minutes with an Excel spreadsheet, I could prove it to them that they're not going to catch up.    Neal Bawa  25:35   Maybe one in 100 families would see a very large increase in income, and that would result in them catching up, but for the most part, as a group, these 18 million families, they're forever enters as a group that didn't exist before 2021 right. It's entirely because of this outrageous increase in mortgages, while not seeing a drop in home prices, that led to this, and so those orphan families, they actually earn pretty well, so these are families that make 70, 80, $90,000 in mid markets. They make over $100,000 if they're living on the coasts or in expensive markets, and they still can't buy that, you know, starter home. And so they don't want to live in apartments. I have lots of apartments, old ones, new ones, and I want these people to live there, but they don't want to live there, and so they've been looking for an option, and that option has been developers like me building communities of 200 300 townhomes or single family homes with a small little yard, and then basically from day one, instead of selling them, renting them out, and then once you're done renting out the whole community with 200 tenants, then you sell that to an apartment company. You know, there's lots of apartment companies in the US that have 100,000 units. Well, they want to buy these because the turnover is lower. So, what happens is most of these town homes and single-family homes for rent. Families come in, and they typically rent for three to five years before they move, whereas in on my apartments I lose 40% of my tenants each year. So, if I have 200 tenants, I lose 80 of them every year, and I have to basically go back, clean up those units, deal with the vacancy. But when I have townhome communities like my Idaho Falls townhome community. I lose a tenant at roughly every four years, and so, as you can imagine, profitability goes up when turnover goes down, right?   Neal Bawa  27:31   Because you don't have that cost of turnover and vacancy, and so eventually those large landlords that are holding 100,000 units figured out, I like this, what Neal Bawa is doing, he's building these 200 townhomes, I want to buy these from him when they're rented. I don't want to build them, I don't want to lease them up, I just want to buy them when they're stabilized. And so BTR became that name for that marketplace where developers would build townhomes and single families, rent them out, and then sell them to institutional, and it was some—   Keith Weinhold  27:56   People think of fabulous institutionalization of the starter home.   Neal Bawa  28:00   And in many ways it is, because what happened is, for a while, these institutional players, like Blackstone and BlackRock, they were like, we are just going to go out and buy 50,000 single-family homes, and that's going to be the institutionalized. Well, that worked really well if you bought in 2008 2009 2010 2011 because you got them bought them at a discount, but when they started buying them in 2015, 16, 17, 18 at ever higher prices, they didn't make any money. So the vast majority of these public funds that were created to buy large amounts of single family have failed if they've purchased anything in the last seven or eight years. If they bought before that, they made huge amounts of money. Family homes are so expensive that basically buying them for rental did not make sense, so these companies have now pivoted to saying we'll only buy communities that have 100 or 200 or 300 of these homes, because then we get the benefits of having centralized leasing, centralized property management, centralized maintenance, and I don't have homes spread all over the metro, they're all in one place, and I can make more profit from that. In theory, that's been good, and you might think that I'm bullish on BTR, but I'm actually today bearish on BTR for one single reason. About seven months ago, Republicans started talking about a bill - I don't know what the name of the bill is, but what this bill does is it forces builds to rent developers like me within seven years of building the property to sell all of the homes in that property to single family tenants, not to Blackstone, not to Blackrock, but to single family tenants. Hasn't passed yet, but it passed the Senate with an 8910 vote, which means that both Democrats and Republicans wanted to vote for this. If it passes the House, and because Donald Trump himself is very heavily opposed to it, he's made it very clear he doesn't like this. He's a developer, obviously. It hasn't passed the House yet, but if it passes the house, that will destroy the build to rent market. No one will ever build build to rent, because the worst possible thing is I build this, and within seven years I have to actually sell it to individual buyers. If I do that, my banks are going to hate me and not give me loans to build BTR anymore. Obviously, there's going to be some grandfathering to the communities that I'm building now, or maybe even build the ones that I'm building in 2027 maybe grandfathered. It usually is, because you know, Congress never does anything retroactively, and they give you a year or two, but if it passes, it's doomsday for BTR. I hope it doesn't happen, but that's the way it's looking, because it's bipartisan. Bipartisan bills are more likely to pass   Keith Weinhold  30:40   Now for the mom and pop investor, the individual investor build to rents have obvious appeal due to your point about the lower turnover, lower maintenance costs on a new build, lower insurance costs often on a new build, and then there's the tenant appeal to a new build as well, but of course there is that investor downside. I think a lot of investors are aware of their thin initial cash flow that they're going to have on build to rent, but you know, Neal, another downside with build to rent, I think a lot of investors don't look at is, hey, just how many of these things are they building? Are they building 500 of them? Do I have some overbuild risk if I buy into this community that could suppress occupancy and rents for a while.   Neal Bawa  31:21   What we've seen is that when Built to Rent started out in 2017-2018 it was its own asset class. It wasn't competing with apartments, it wasn't competing with single family rentals, it was just its own thing. However, in the last two or three years, as more and more apartments flooded the marketplace, we had a glut. It moved away from that. It basically started getting affected, and the rent started falling, just like any other portion of the market. You know, think of it as three portions of market. There's the built to rent, which I described, you know, brand new single family homes, town homes per rent. There's the apartments, both brand new and existing, and there's the single family rentals, right, which there are millions of. What we are seeing now is it's become one market, right? All of them are affecting each other, and the apartments, which have a huge amount of glut, there's a massive amount of new apartments that have come in in the last two years, are really pushing the rents down for single family, they're pushing that rents down for BTR. So, at this point, what I would say to people that have this concern, Keith, is simply look at incoming apartment supply, because if you're in a marketplace, and I'll give you examples of really good markets that are crushed right now. If you're in a market that has a lot of incoming supply, whether you buy a single family rental, a quadplex, a 50 plex that's an apartment, or 100 unit BTR, you're going to suffer for rent growth if you have a lot of incoming supply in 2026 and that is across the board in every market in the US. Huntsville, Alabama is, in my opinion, one of the most interesting markets in the US for 5 year, 10 year growth, right?    Neal Bawa  32:54   If I had to say you don't need a loan, it's just your own cash, no investors, where would you put money in? It would be at the top of my list, not at the very top. Idaho Falls is definitely the number one market in the US in my list, but Huntsville is up there. But right now, do you know what rent growth in Huntsville is? Minus 2% negative 2% Why? Because there's 6000 units coming into a market that's, you know, 1/5 or 1/10 the size of Phoenix, right. It's 1/10 the size of Dallas, but it has half the units of Dallas or Phoenix coming in, and so rent growth is negative there. So, what I would say is today absolutely everyone that is an investor should understand that we live in the magic world of AI, and you should be talking with Chat GPT about incoming supply for any market that you're interested in, and using that to make your decisions, because all of these markets merged, BTR, new apartments, old apartments, single family, everything has emerged in the last 24 months, where they're all affecting each other, and if there's too much supply of any one kind, it's affecting all of the other markets, and that's the message that I have. And none of this is like you have to go buy a $25,000 software like Costar today. Chat GPT is your costar.   Keith Weinhold  34:11   You're listening to Get Rich Education. We're talking with the mad scientist of multifamily, Neal Bawa, where we come back, including what he thinks about recovery for the beleaguered multifamily market. I'm your host, Keith Weinhold. What if you got your mortgage loans the same place I get mine? You sure can at Ridge Lending Group, NMLS 42056 They provided GRE listeners with more loans than anyone, because Ridge specializes in investment property. They'll help you build a long-term plan for growing your real estate empire with leverage. Start your prequal, and even chat directly with President Caeli Ridge. While it's on your mind, start at ridgelendinggroup.com that's ridgelendinggroup.com    Keith Weinhold  34:56   Let me ask you something: if you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom Family Investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation. In full disclosure, I'm an investor myself. What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals. Every investment carries risk, and nothing is guaranteed, but with a track record of consistent on-time investor payouts, they built real credibility. Go to freedomfamilyinvestments.com to book a clarity call, or text family 268 66 That's Family 266 866    Speaker 1  36:00   This is the star of the A E Show, The Real Estate Commission. Todd Rollette. Listen to Get Rich Education with my friend Keith Weinhold, and don't quit your daydream.   Keith Weinhold  36:20   Welcome back to Get Rised Education. We're talking with Neal Bawa, a really sharp multifamily syndicator who's also highly data driven. And Neal, tell us more about the beleaguered multifamily market that had those aforementioned problems really cropping up in 2022 and we had a lot of supply and spiking rates. What does it look like for the path to recovery for the US multifamily market?   Neal Bawa  36:45   Luckily, demand is strong, and even though occupancies have dropped, typically the multifamily market, the large multifamily market in the US, tends to be between 95 and 96% occupied. Okay, and right now we're on 93% so that all that incoming supply means that about 7% of our apartments in the US are empty at the moment, we're trying to fill them, and we are seeing that occupancy drop, not across just new apartments that are leasing up, but also drop in class B and class C. We've also seen a huge increase in concessions, so I studied this quite obsessively, and I can tell you that 2026 in some markets is the recovery year, but not across the board in the United States, and the reason for that is sentiment. Once renters get used to huge amounts of concessions, it's like a drug, it takes a little while before you wean those renters off of those drugs, and so there's that hit right now. Every renter program,   Keith Weinhold  37:44   Everyone wants their freebie for good.    Neal Bawa  37:46   Yeah, exactly. It's like, hey, what, you're not giving me two months free? Hey, what, you're not even offering me one month free? It takes a while for that expectation to happen, because there's such a huge amount of concessions in the US. So, to me, there are a few markets, usually the smaller markets or very fast growing markets, where there's a recovery in 2026 but otherwise 2027 The first half of 2027 is recovery. The second half of 2027 is fast rent growth in a lot of markets. Why? Because remember, interest rates have been high since 2023 A lot of projects were started in 2022 went into construction in 23 came to market in 25 and 26 Lease ups are happening in 25 and 26 By early mid 27 these are all leased up, right? The second half of 2027 there isn't a lot of delivery in any of these big markets, because to deliver in the second half of 27 you would have started construction in that second half of 2025 and I counted those permits market by market. There's just not a lot, because by that time everyone knew that projects were not getting funded, everyone knew that interest rates were high, so there wasn't a lot of supply of new starts in the apartment market in the second half of 25 so there's not going to be a lot of delivery in the second half of 27 and all of the existing stuff would have been leased by then. So 2026 is one of those years where we could still see more concessions in the second half of 2026 I still see rent growth for apartments to be flat. You mentioned single family might be a little bit higher. It tends to be a little bit higher than apartments in terms of rent growth, but I think flat rent growth for 2026 is what I'm projecting. I'm projecting small rent growth in the first half of 2027 for most markets, and then I'm projecting robust rent growth, call it 3% or greater on an annualized basis, in the second half of 2027 and I'm projecting that most markets in the US that are not seeing a population drop, so count out places like Detroit are going to see a very aggressive rent growth, four or 5% rent growth, that's aggressive in our world, in 2028 28 and 29 are shaping up to be. Supply deficit years, years where supply is well under demand.   Keith Weinhold  40:05   It's pretty easy to project completions when you just go ahead and look at starts, and really, what you're counting is the story of absorption.   Neal Bawa  40:14   Yep, and what's nice about apartments is you can actually build a single family home in about nine months, right, but you can't build apartments in less than 24 months. There's just so much permitting issues, there's so many delivery issues, fire code issues, and so we have a crystal ball on the multifamily side that we are now getting better at using. I don't think the industry was very good at this in 2022 but now we're really all obsessed with how many permits does my metro have, and how many permits does my state, and how many permits does the US have? And everyone that I know in the industry that's data driven knows that there's a massive glut now, maybe a little bit of a glutton that remaining portion of 2026 equilibrium in 27 and a huge, huge supply deficit in 28 and 29 So everything that I'm doing is based on this, and this crystal ball actually works because of that two year gap between shovels in the ground and delivery,   Keith Weinhold  41:10   and it sounds like you've recommended Chat GPT as a go-to source for investors to look into these things, that happens to be my favorite one as well, and you are well, maybe it's a bit too much to say, but it almost feels like to me pioneering with the way that you use AI. In fact, I know before our show today you were running some other things in the background that made me wonder, hey, am I talking to the real Neil or the clone Neil? I know I've got the real Neil here, but why don't you tell us about how you're using AI to make data-driven decisions in real estate?   Neal Bawa  41:40   Sure, so the first thing is that we've completed our journey with the low hanging fruit of AI. Every single person in our company is fully trained on how to use Chat GPT. Most of our research-related processes are automated. For example, 100% of our investor updates are now written by Chat GPT. What we do is we go into our property manager meetings on Mondays or Tuesdays sit down with them, beat them up, and the transcript is then taken by our team in the Philippines. They take that transcript and put it into a pre-trained Chat GPT string, it's called a custom GPT, and the string took a while to train, but now that it's trained, all it needs is a transcript. We just copy paste it in, we don't give it any instructions, and it outputs a really wonderful investor update, right. And so our updates for our investors are 99% written by AI. Of course, we'll go in and add our comments at the end of the process. So we've automated investor updates, rent comps, so you know if we are underwriting a new property today, what we do is we simply go into a Google file and copy paste the address and hit enter roughly once a minute. A software, which is written by AI - we're not coders, but the software knows how to write code - it checks the file, if it sees a new address, it goes in there, grabs the address, and then it basically goes to apartments.com rent.com realtor.com and all of these places, and checks the rents for this particular property in two mile radius. It eliminates all the ones that don't match, like you don't want to match the rents of a 1970 or 80s built property with a brand new 25 built property. Those are not comps, it's not comparable. So it basically is very careful, it keeps a radius range of two miles, and also basically is a property of the same kind, you know, like it never matches up a three story property with a 10 story property. Those don't match, one of them obviously is more of a central business district or downtown sort of thing, and so it basically grabs all of those rent comps and then puts them into a file and posts in a Slack channel. Usually it takes it about 1213 minutes to do that, and so whoever put that address in about 12 minutes later goes into the Slack channel and says, "Hmm, these are all my rent comps, right? And boom, now you're basically, you have all these ready rent comps. So, what we've done is, we've automated a significant portion of what we are doing with both our property managers and inside the company with acquisitions and things like that, we're also scraping massive amounts of data from the Bureau of Labor Statistics website, which we just couldn't deal with that data before, and building very beautiful, very interactive dashboards. We don't use Chat GPT for that. We find for dashboarding a tool called Claude, which is by a company called Anthropic, is much better, so we have currently over 150 interactive dashboards that Claude has created that update in real time and give us access to data. If anything, I find that we are in this incredible time where decision making has become much easier, as long as you spend time with these tools. So, in our company we have an absolute mandate that no one has broken for the last year. One year per day, people must program, and by programming we mean issuing common language instructions to tools and build dashboards and build software that automates our work. Have we laid off anyone because of this? I mean that. Be the next obvious question. The answer is no, because it's made it easier for us to serve a much larger audience, so it's easier to grow your company. We just are not hiring anyone, and we haven't hired anybody for the last 18 months, so we have a hiring freeze, but at the same time all of our people are employed because they're they're now much more valuable. So everyone in our company is now a programmer, and even though that sounds weird, it's completely true.   Neal Bawa  45:24   Every single person in our company writes code, and they write code by talking with Cloud Code or talking with Chat GPT, and then Chat GPT, of course, does the actual code writing, but people have become very, very good at answering questions and saying, "I want a dashboard like this, turn these radio buttons into drop boxes, and give me the last month, and last three months, and last 12 months, and do this, and do that, and connect this, and I also want to host this on a server, but I want to make sure that only I can see it. I need a password added. Imagine 1000 of these conversations happening in our company every day. Yeah, that's interesting. And what you just described   Keith Weinhold  46:00   there at Gro Capitas is somewhat of a microcosm for what's happening in the broader economy, where we've been in this low high or low fire environment for quite a while. Well, Neal, as we're winding down here, we recently had a new Fed chair come in. It seems incomprehensible to me that there could possibly be any rate cuts. I don't know how we could responsibly make a rate cut with all these inflationary layers. We had the pandemic, and then terrorists, and then the Iran war, and the energy shocks, and all these bottled up supply chains. What are your thoughts with regard to the Fed?   Neal Bawa  46:29   I still think that we'll get one rate cut, and that rate cut will be based on political pressure. So, for the first time ever, I have seen the Fed break into factions, so if you look at the latest Fed meeting, which happened, you know, there was dissent, there were two clear factions, so the Fed is becoming less data driven and more faction driven, and I think that one of the factions, which obviously wants rate cuts to go down, is going to triumph at some point later in the year, but until we get past the incredible increase in inflation because of the Iran war, I don't think that faction is going to win. Right, there's three or four people in that faction, that's not enough votes to get past the others. So I'm predicting no rate cuts until Q4 of this year. If the Fed was entirely logical, there should still not be a rate card in Q4, but I think it'll happen because there's political pressure.   Keith Weinhold  47:25   The preservation of independence is key. Neil Bhawa, this has been great, and a lot of people learn from you. You're a brilliant educator, as well as what you're doing in the multifamily space, and a lot of other places. So, if someone wants to connect with you, learn more about what you do. What's the best way for them to do that?   Neal Bawa  47:43   So we built a website called Multi Family University. It's completely free. There is no subscription. There's no upsell. We do not have an educational product, but what we do is each year we have 8-12 webinars that we create with their extraordinarily good looking thanks to the use of AI. Yay, and we share them with an audience, and usually between 5000 and 1000 people attend our webinars each year, of which roughly 1% become investors with us. The rest, the remaining 99% just continue to get free access to data, and we cover every imaginable real estate topic: Single family, multifamily, industrial hotels, self storage, Airbnb, and even controversial topics outside of real estate, like climate change or impact of climate change and impact of AI. So you know, multifamily university is the best place you can go to, multifamily you.com/club It's a free club, and it's free forever.   Keith Weinhold  48:42   Neal, it's been valuable to our audience. Thanks so much for coming back out of the show.   Neal Bawa  48:46   Thanks for having me.   Keith Weinhold  48:53   Oh, a terrific, wide-ranging chat with Neal. There, yes, this interesting 2022 divergence between single family and multifamily, the slowing birth rate, and how that won't really catch up with real estate in a big way for perhaps 20 plus more years. How single family rentals beat multifamily on the basis of tenant retention, and a lot more that we covered there, and he's got a good data driven timeline for apartments being back in favor by 2027 and 2028 After the interview, Neil and I chatted some more off Mike, and he would like to come back on the show next year. We're probably going to have him, because we have a lot more to talk about at that time. We can see if the multifamily market is really healing. Also, did you pick up on this? I wonder why, for his own home he would get a 15 year mortgage at 1.75% interest, so I'll have to ask him about that. That's surely a fantastic interest rate, but a 15 year loan rather than a 30 year that maybe he could have gotten at two and a half percent at the time. Well, 15 year probably. Is not the best use of capital, because it increases your equity position rapidly. When instead, those dollars could have been out in the market earning an actual return somewhere else. But he's a smart guy, he must have an answer. We can talk about that at that time. We've got a lot of terrific shows coming up here on the GRE podcast, specific learning episodes, where it's just me teaching you, as well as new guests and returning guests too. Until next week, I'm your host, Keith Weinhold. Don't quit your daydream.   Speaker 2  50:35   Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial, or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Get Rich Education LLC exclusively.    Speaker 2  51:03   The preceding program was brought to you by Your Home for Wealth Building, getricheducation.com.  

Diana Jenkins wants everyone to know she will sue, sue, sue.  RHOBH's future is uncertain as more cast changes are expected than originally met the eye. As RHORI chugs along, Dolo is iced out but by who? Bye Dolores. While in Pasadena, we stopped by Erika Jayne's old house. Hello Ms. Girardi. Last, but not least, Wendy Osefo fu*ks up again as her legal case, and RHOP future, remain on shaky ground. @behindvelvetrope @davidyontef BONUS & AD FREE EPISODES Available at - www.patreon.com/behindthevelvetrope  BROUGHT TO YOU BY: ZENNI OPTICAL -  zenni.com/podcast (Use Code Podcast15 For 15% Off Your First Order Of The Most Affordable, Stylish Glasses and Sunglasses) QUINCE - quince.com/velvetrope (Get Free Shipping and 365 Day Returns to As You Indulge In Affordable Luxury)  PROGRESSIVE - www.progressive.com (Visit Progressive.com To See If You Could Save On Car Insurance) ADVERTISING INQUIRIES - Please contact David@advertising-execs.com MERCH Available at - https://www.teepublic.com/stores/behind-the-velvet-rope?ref_id=13198 Learn more about your ad choices. Visit megaphone.fm/adchoices

Gobernación llama a la CNTE a concluir las protestas Obtienen su libertad dos comunicadoras en San Luis PotosíAtaque armado deja un muerto y cinco heridos en IsraelMás información en nuestro podcast#grc

In this week's news roundup, Ed, Simon Baker and Harvey Hancock unpack CoStar's $800M all-cash swoop for new-homes data specialist Zonda, and share their first-hand impressions of Realtor.com's new Google-powered RealAssist AI search tool.Chapters:00:00 Intro00:52 CoStar Buys Zonda for ~$800M09:40 Realtor.com's New RealAssist AI (with Google)18:59 Can AI-Native Challengers Beat the Incumbents?30:06 Are Portals Building Search or a Decision Engine?CoStar Pays ~$800M for ZondaCoStar Group is acquiring new-home construction data specialist Zonda in an all-cash deal worth roughly $800 million — its first major acquisition since Domain in Australia and its first US deal since Matterport. The team digs into why "more data wins" fits Andy Florence's playbook, the flat market reaction, and the hard road from owning great data to delivering a stronger EBITDA margin. Unlike Matterport, Zonda is a profitable B2B business, so the question becomes which costs CoStar can strip out and which products it can layer on top.Testing Realtor.com's RealAssist AIEd and Harvey got a behind-the-scenes demo of Realtor.com's new conversational search tool, RealAssist AI — co-developed with Google and currently a whitelist-only beta. They cover what stood out: searching by affordability rather than price, "Google grounding" that pulls in third-party data, and a commute/lifestyle mapping feature. That opens a wider debate on the API costs of grounding every search in Google, whether AI-native challengers gain an edge by pricing those costs in from day one, and whether portals are really building search — or trying to own the comparison and decision phase before Claude or ChatGPT does.Presented by:• Edmund Keith — https://www.linkedin.com/in/edmund-keith/• Harvey Hancock — https://www.linkedin.com/in/harvey-hancock/• Simon Baker — https://www.linkedin.com/in/stbaker/

Todos queremos una vida diferente, pero pocas veces nos preguntamos quién necesitamos ser para sostenerla. En este episodio hablamos de sueños, oportunidades, cambios, identidad y de por qué a veces el verdadero reto no es recibir aquello que deseamos, sino aprender a mantenerlo en nuestra vida.¿Quieres empezar terapia o contarnos tu historia para un episodio?, aquí puedes hacerlo todo:

The squad is dissecting JLo's latest denial about her co-star romance rumors, but her track record of dating her leading men has the crew feeling skeptical.

El economista advierte de que una escalada prolongada de la tensión internacional podría disparar el precio hasta los 160 dólares por barril y encarecer desde los carburantes hasta los alimentos

THE BIG PODCAST - Jay-Z Roots Picnic Freestyle | Diddy Sex Tape Leaks | Is Janice By Drake About Joe Budden? | One Handed Woman Beats Traffic Ticket | Louie's "Obsession" Rotten Tamales Review | Bad Bunny To Co-Star In Toy Story 5See omnystudio.com/listener for privacy information.

En su última e importante newsletter Power On publicada este fin de semana, Mark Gurman ha revelado información exclusiva centrada en el futuro de los wearables de Apple, los retrasos de hardware doméstico y una curiosa filtración sobre el desarrollo de software a largo plazo. --------------------------------------------------------------------------------------- #AppleGlasses #AppleIntelligence #GafasDeApple #WWDC2026 #NoticiasApple #SiriIA #Tecnologia #PodcastTecnologia #MarkGurman #FuturoTeche #iphone #remix --------------------------------------------------------------------------------------- https://seoxan.es/crear_pedido_hosting Codigo Cupon "APPLE" --------------------------------------------------------------------------------------- PATROCINADO POR SEOXAN Optimización SEO profesional para tu negocio https://seoxan.es https://uptime.urtix.es --------------------------------------------------------------------------------------- PARTICIPA EN DIRECTO Deja tu opinión en los comentario --------------------------------------------------------------------------------------- ¿TE GUSTÓ EL EPISODIO? ✨ Dale LIKE SUSCRÍBETE y activa la campanita para no perderte nada COMENTA COMPARTE con tus amigos Applelianos --------------------------------------------------------------------------------------- SÍGUENOS EN TODAS NUESTRAS PLATAFORMAS: YouTube: https://www.youtube.com/@Applelianos Telegram: https://t.me/+Jm8IE4n3xtI2Zjdk X (Twitter): https://x.com/ApplelianosPod Facebook: https://www.facebook.com/applelianos Apple Podcasts: https://apple.co/39QoPbO ---------------------------------------------------------------------------------------

On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about the delinquency data on credit cards and car loans and how that affects the housing market. Related to this episode: Credit card and auto loan delinquencies look like 2008. Housing does not HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ More info about HousingWire The Top 5: CoStar to buy Zonda from MidOcean Partners NAR urges DOJ and FTC to issue clear guidance on MLSs Is Zillow a public utility? Attorneys weigh in on MRED, Compass suit Fair housing groups sue CFPB, Vought over ECOA lending rule What happens to mortgage rates if the Iran conflict is over? The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate.

The Portland Business Journal reported this week that hotels in downtown Portland are still struggling years later to recover from the pandemic. According to the commercial real estate analytics firm CoStar, the occupancy rate for downtown Portland hotels was roughly 62% last year – nearly 10% less than their pre-pandemic occupancy levels in 2019. In another ominous sign of the market’s recovery, the revenue the hotels generated per room was $13 less last year than what they earned in 2019. Recovery for other downtown businesses, including restaurants and commercial real estate, has also been slow. A recent report from Travel Oregon, meanwhile, showed that spending on hotels and motels by visitors to the Portland region increased by 2% last year from 2024. That might suggest that business travelers and tourists are returning to the area, but choosing to stay overnight and spend their money outside of downtown. Sara Edwards is a staff reporter at the Portland Business Journal who covers commercial real estate. She joins us to explain the grim outlook facing Portland’s downtown hotels.

On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about what the Iran peace deal, today's economic data and the Fed's stance on inflation mean for mortgage rates. Related to this episode: New home sales fall, but the trend is still sideways HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ More info about HousingWire The Top 5: What happens to mortgage rates if the Iran conflict is over? Housing markets are adapting to higher rates instead of freezing The wait continues: Two Harbors stalls on CCM merger approval Zillow and CoStar continue to spar over Matterport 3D tours Is Zillow a public utility? Attorneys weigh in on MRED, Compass suit To learn more about Total Expert click here. The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate.

Dans cet épisode de "Comment j'ai réussi ?", Stéphane Pedrazzi reçoit Sandra Roumi, la directrice générale en France de CoStar Group, une entreprise américaine pionnière dans la collecte et la commercialisation de données appliquées à l'immobilier d'entreprise. L'invitée nous plonge au cœur de cette industrie méconnue du grand public, qui représente pourtant plus de 10% du PIB français et 2,4 millions d'emplois non délocalisables. Elle explique la mission de Costar : digitaliser le secteur de l'immobilier d'entreprise en fournissant aux acteurs (investisseurs, promoteurs, agents immobiliers) des données précises et exhaustives sur les surfaces de bureaux, entrepôts, commerces, etc. L'objectif est d'apporter plus de transparence et de cohérence dans un marché souvent opaque.La cheffe d'entreprise revient sur la méthode de collecte de ces données, qui allie expertise technologique et humaine. Elle détaille les différents types d'informations recueillies, comme les loyers, les surfaces ou l'identité des locataires, et explique en quoi ces données sont stratégiques pour guider les décisions des professionnels de l'immobilier.Elle dresse ensuite un constat sans concession sur la situation actuelle du marché de l'immobilier d'entreprise en France, confronté à une "crise sans précédent". Elle pointe du doigt la surproduction de bureaux, notamment en Île-de-France, face à une demande qui n'est plus au rendez-vous. La conversion de ces bureaux en logements est une piste évoquée, mais qui comporte des défis économiques importants.Au-delà de ce diagnostic, elle met en lumière les profondes mutations qui traversent ce secteur : évolution des usages, des générations, des enjeux environnementaux et numériques. Elle explique comment les données de Costar permettent de mieux appréhender ces transformations et d'y répondre de manière plus éclairée.Enfin, la directrice générale revient sur le positionnement encore méconnu de CoStar en Europe, contrairement aux États-Unis où la marque est très établie. Elle détaille les ambitions de développement de l'entreprise sur le Vieux Continent, avec pour objectif de donner à l'industrie immobilière la reconnaissance qu'elle mérite.Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

Send us Fan MailThis Saturday, May 30 at 12 noon, over 100 people in brightly-coloured orange wigs and vivid caftans will be storming Orangeville, Ont's city hall. Demanding more polyester? Lobbying for a clown college? No, this will kick off the 2nd annual Roper Romp Orangeville.It's all thanks to super fan Sofie Weber, one of two guests on this episode of brioux.tv: the podcast. She tells me she has over 100 people set to dress up as Mrs Helen Roper, played by Audra Lindley in the late '70s ABC sitcom The Ropers. This Three's Company spinoff also starred Norman Fell as landlord Stanley Roper. Nearly a half century later, this two-season comedy has inspired people from across North America to bust out their caftans and clunky jewelry.Joining us on this podcast is Stevie Louise Vallance, a Montreal-born, Emmy award-winning actress, director  and voice artist with credits on everything from Knots Landing to Night Heat, ReBoot and Zoobilee Zoo. She played street urchin Jenny on Season Two of The Ropers and will be romping her way to Saturday's Roper-palooza in Orangeville! 

Desmantelan cinco laboratorios clandestinos en el país David Kershenobich recibe Doctorado Honoris CausaPerú definirá la presidencia entre Keiko Fujimori y Roberto SánchezMás información en nuestro podcast#grc

In this episode, Phil Mobley from CoStar Group shares insights on market foresight, data analytics, and the future of commercial real estate, emphasizing the importance of understanding market signals, risk tolerance, and emerging sectors like data centers and life sciences.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

It's a simple action movie that grew into a billion-dollar global franchise. "The Fast and the Furious" marked its 25th anniversary with a midnight showing at the Cannes Film Festival. Lead actor Vin Diesel was joined on the red carpet by the daughter of his late co-star Paul Walker, to whom he paid an emotional tribute. FRANCE 24's Culture Editor Eve Jackson also tells us about the other films that have festival-goers revved up, from an "unhinged" slasher flick with Gillian Anderson and Hannah Einbinder, to a film starring Barry Keoghan as the charismatic leader of a Circassian immigrant family.

Our quarterly sit-down with Juan Arias, National Director of U.S. Industrial Analytics at CoStar, and Anthony Graziano, CEO of Integra Realty Resources. We covered softening industrial demand, the data center capital rotation story, and the Iran war, specifically what elevated oil prices mean for the broader economy and how a sustained energy shock could ripple through CRE. The conversation also turned to AI: Juan and Anthony walked us through how CoStar and IRR are deploying it inside their own businesses, where it is already changing analytics and valuation, and where they see it reshaping the industry over the next few years. Connect with usWant to dive deeper into Miami's commercial real estate scene? It's our favorite topic and we're always up for a good conversation. Whether you're just exploring or already making big moves, feel free to reach out at info@builtworldadvisors.com or give us a call at 305.498.9410.Prefer to connect online? Find us on LinkedIn or Instagram - we're always open to expanding the conversation.Ben Hoffman: LinkedIn Felipe Azenha: LinkedIn  We extend our sincere gratitude to Büro coworking space for generously granting us the opportunity to record all our podcasts at any of their 8 convenient locations across South Florida.

Melo, Mero, and Kaz kick things off reacting to a funny All the Smoke clip, which leads to Melo sharing a never-heard story about one of his favorite teammates, Andre Miller (2:45). Then the guys debate who the best white NBA player in the league is right now (12:30). Even with Detroit's 3-1 comeback over the Magic, the Pistons still need a real second scoring option, so they get into who should be on their list this summer: Devin Booker, Kawhi Leonard, Michael Porter Jr., or somebody else (33:07). Melo also reacts to Michael Beasley's all-time one-and-done starting 5 and says he's swapping one name out (50:42). Then it gets serious. Melo, Mero, and Kaz go On the Hook for a full hood snacks bracket and argue it all the way down to a winner (1:08:44). As always, the show closes with a hilarious FWI or FOH (2:07:37), but not before the guys get into the Iceman rollout. Melo does not say whether he has heard any of it yet, but he does talk about what he expects from Drake sonically and why he thinks this could end up being his best album yet (2:17:16). Learn more about your ad choices. Visit megaphone.fm/adchoices

A weekly magazine-style radio show featuring the voices and stories of Asians and Pacific Islanders from all corners of our community. The show is produced by a collective of media makers, deejays, and activists. Tonight on APEX Express, Host Miko Lee focuses on Asian American Men, Bruce Lee and the mano-sphere. She chats with renowned author and thinker Jeff Chang about his new book: Bruce Lee & the making of Asian America, Water Mirror Echo. Then she talks with Rachel Koelzer the Communications Director for Nakasec about their new study of Asian American men and the manosphere. How are images of Asian American male identify being shaped and formed in our current society and what does Bruce Lee have to do with this? Listen in. More in tonight's show Jeff Chang's book: Water, Mirror, Echo Nakasec ReportAsian American Men and Mano-sphere CAAMFest 2026, running May 7-10, 2026, San Francisco's AMC Kabuki Theatre Show Transcripts [00:00:00] Opening: Apex Express Asian Pacific expression. Community and cultural coverage, music and calendar, new visions and voices, coming to you with an Asian Pacific Islander point of view. It's time to get on board the Apex Express.   [00:00:40] Miko Lee: Welcome to Apex Express. I'm your host, Mika Lee, and tonight we are focusing on Asian American men, Bruce Lee and the Manosphere. I chat with renowned author and thinker Jeff Chang about his new book, Bruce Lee and the Making of Asian America Water Mirror Echo. Then I speak with Rachel Koelzer, the communications director for NAKASEC, about their new study of Asian American men and the Manosphere. So how are images of Asian American male identity being shaped and formed in our current society, and what does Bruce Lee have to do with all this? First, listen to my conversation with author Jeff Chang. Welcome Jeff Chang to Apex Express.    [00:01:24] Jeff Chang: Ah, it's so great to be here. Miko. So happy.    [00:01:27] Miko Lee: I'm so happy to talk with you about your latest book. You're such a prolific writer, and here you have written a big Bruce Lee and the Making of Asian America Water Mirror Echo. Such a mighty title. I wanna start first just a question that I ask all of my guests, which is, who are your people and what legacy do you carry with you?   [00:01:49] Jeff Chang: Oh my gosh. What a great question to start with. You know, my family, my communities, they all kind of blend together, the blood family, the kin family, and the chosen family, for me. I guess I'm always [laughs], I'm first born Chinese Kanaka, you know, I'm always aware that I am, representing, I guess, So I, you know, I carry that family with me wherever I go.   [00:02:16] Miko Lee: I, I think I know what that means. But for our audience that might not know what a firstborn Chinese kanaka means, can you break that down a little bit? What does that mean to you when you say that?    [00:02:25] Jeff Chang: Yeah, I mean, you know, it's just the, i, it it's just a thing of, you know, you're gonna go out and represent the family and, you're thrust into Taking on responsibilities and stuff for your folks, your siblings, your, younger cousins, those kinds of things. I was always very aware of that within the family. My dad's from a really big family, had six siblings and, my mom's from a large extended, family. so that's, That's such a fantastic question Miko. Bruce was the second child, which, you know, birth order and all that kind of stuff. It also squares, I think with, a Chinese family. He felt like he was always in the shadow of his older brother.   [00:03:10] Miko Lee: Okay. Hold on. Let's get to Bruce in a second. I wanna finish with you as an author, creator person.    [00:03:16] Jeff Chang: Okay.    [00:03:16] Miko Lee: Wait, so you are the number one son.    [00:03:18] Jeff Chang: I'm the number one son. Yeah.    [00:03:19] Miko Lee: Ooh, okay. I get it. Yeah. And then what is the legacy that you carry with you?    [00:03:24] Jeff Chang: The legacy. I just have to represent, in a point, a kind of a way, in a proper kind of a way. You know, the family , and those kinds of things. I was also very rebellious. I came back after my freshman year as the Berkeley Radical. My Uncle Fungi was like, oh, here comes the Berkeley radical. Okay. Then of course, you gotta sit down and drink beer and tell 'em , all the stories and that kind of thing. So, you know, just being able to, carry on, a legacy of being upright and being, just, right. And sort of being appropriate in all that you do. just aware of that. Grew up aware of that. Yeah.    [00:04:02] Miko Lee: And then what was your first memory of Bruce Lee?   [00:04:06] Jeff Chang: Ah, I don't have a first memory. He was just part of the ether, you know what I mean? He was part of the   [00:04:10] Miko Lee: Ah, yeah.   [00:04:11] Jeff Chang: Yeah. He was part of the air. I think I came of age, after the generation, like my older cousins who were able to see Bruce in the theaters. We came up the next generation, we saw Bruce on tv. Return of the Dragon would come on and everybody would stop everything and just watch that. During the commercial breaks we're jumping around and kicking each other and stuff like that. I mean that, that kind of thing, right?    [00:04:34] Miko Lee: Yeah, totally. When I was growing up, people would always ask me if I was related to Bruce Lee, because Lee, because that was like, right, yeah, Lee. Yeah. Yeah. There's not a billion Lees' in the world.    [00:04:44] Jeff Chang: Yeah, yeah, yeah. Totally.    [00:04:45] Miko Lee: Yeah. So I get it and I try to explain to my daughters, and our kids are around the same age, the cultural phenomenon that he was, and it's hard to explain it to this generation because there wasn't really other Asian American representation than Bruce Lee when we were growing up.   [00:05:03] Jeff Chang: Yeah. Yeah. And now they have Alysa Liu, you know, they have eileen Gu, they have all of these different folks. So if you don't like Alysa, you could like Eileen. Or if you don't like, if you like Eileen, you don't have to like Alysa. Right. Or you can like 'em both. They have choices.   [00:05:14] Miko Lee: You could like Chloe.    [00:05:16] Jeff Chang: Yeah, yeah, yeah, yeah. They like Chloe, right? There's choices. Yeah. Like Chloe's on the Olympic stand with two other Asians. It's just wild. It's a beautiful thing. and it's not like the kind of reality that we grew up in. It's true.    [00:05:29] Miko Lee: Yeah. So what made you decide to write this book? you've written many books about pop culture and around theory and around Americana, and what made you decide to write a book about Bruce Lee?    [00:05:41] Jeff Chang: So the book came to me actually, it was an Asian American editor back during a time, not so long ago, but a while ago, when there weren't a lot of Asian American editors in the business. And he came to me and that was amazing in and of itself. And he said basically, Hey man, you did this book on hip hop. This is back in, the latter part of the two thousands. I wanna imagine I haven't gone back and looked at the date. 'cause it, it actually hurts me to think about it. But he saw you did this book like. Do you think you could do a book on Bruce Lee? And I was like, yeah, I could do that. I was hyped to do that. Please. Because Yeah. 'cause Bruce was our hero. Yeah. Just like we were talking about. The most famous Asian American who's ever lived. It took me a long time to get going and I gotta admit I lost the plot at some point. I just was like, what am I doing? There were books that came out, about Bruce in the interim. there was one other biography that had come out, in the late 2010s,    [00:06:37] Miko Lee: and I think I told you about one of the books. I think it's that book that I read written by a white guy and I wrote about it in good reads because I read a lot and that's how I keep track of the books I read. I don't think about anybody else reading those reviews that I write? It's like writing in a journal or something. Now I use story graph ‘ it's amazing. Not commercial, but at the time I used Goodreads and the author wrote back to me, I think I told you this story.    [00:07:04] Jeff Chang: Yeah, yeah. Tell me. Tell, so what did you write and what did the author write back to you?   [00:07:08] Miko Lee: I wrote that I thought that this author did not understand what an icon Bruce was to the Asian American community, and it was written in a way that didn't, grasp the whole complexity of what he meant to us. He wrote this really, mean note back to me about how he had Shannon, Bruce's daughter's support and he was the one that could tell the story. And I thought, whoa, I was just shocked. That was the first time. Since then, I've had many different authors write back to me, but that was like the first one and wrote back in a mean way. So anyways.    [00:07:39] Jeff Chang: Was it public or this was a private, A private email back to you.    [00:07:43] Miko Lee: I think it's public. I don't know. Have to go look. I was shook at the time. Like what?    [00:07:49] Jeff Chang: Wow. Okay.    [00:07:50] Miko Lee: Anyway, so when I heard you were writing a book, I said, okay, finally, finally. Yay.    [00:07:55] Jeff Chang: Hmm. Yeah. You know, and I'll be honest, I, I had this sort of crisis of confidence. I was sort of like, you know, this is, okay, we'll put it out there. 'cause you already went there. It's Matthew Polly's book, Bruce Lee Life. I read it, he had done amazing research. He had spoken to a lot of people. I thought I was supposed to do this kind of a book. Now there's a particular kind of genre, that folks who are maybe in the industry recognize and, it's called I'm putting scare quotes around this, like the definitive biography,    [00:08:27] Miko Lee: right.    [00:08:28] Jeff Chang: In this particular case, the definitive biography, because he's a movie star s. Sort of coincides or converges with this other genre, which is the celebrity biography. I'm putting scare quotes around that too. So, the mission of a celebrity biographer is really to tell a story of, this celebrity. Is not as cool as you think they are. Like, their crap stinks. They cheated on their spouses. They like didn't file their taxes, they kicked their dog, they said mean things to different people. That's a celebrity biography. It's basically to tarnish the star. and if not, then it's sort of a hagiography, which is sort of a whole other kind of thing. And we don't wanna do that as writers. We wanna approach the truth. But there's sort of a certain kind of thing that comes into play, with Bruce. There's a sort of genre of the take down of Bruce where it's usually men that are writing this, and the men are usually like, well, Bruce was my hero when I was a kid, but now I've gotta take him down. You know what I mean? It's, and so you see it over and over again and, you know, there's a sort of a weird thing going on, especially I think with, white males who have loved Bruce Lee in the past feeling like they need to take him down.So let's say    [00:09:50] Miko Lee: Quinton Tarantino.    [00:09:52] Jeff Chang: Okay, you said it. I didn't, but I was gonna say like Albert Goldman, who was a journalist who famously wrote a take down of Elvis Presley.    [00:10:00] Miko Lee: Right.   [00:10:01] Jeff Chang: and did one of Bruce that was unbelievably racist. Now, I'm not saying that Matthew was trying to do this at all. I think that his scholarship and his work was really, really good. But I, I felt crowded out a little bit. You know, I felt like, gosh, I don't know what there is to say? I was very aware that there were a lot of books that had been written about Bruce and that I was writing into or out of, or in opposition to a tradition.   [00:10:30] Miko Lee: Mm-hmm.    [00:10:31] Jeff Chang: These are the Bruce. Lee Stories. and so at that particular point, in the late 2000 tens, I just said, what am I gonna do? And Lourdes, my partner, walked me up to the park and just tore into me like, what, you're gonna give up now? You can't give up now. You gotta do this, you have to. Who else is gonna do this? And I'm just feeling all that, Chinese Kanaka, firstborn, guilt, responsibility. she's about the only person that I can take a tongue lashing like that from. We walk back the mile to the house and my head was between my legs and I was like, all right, I'll do it. I'll do it. But I didn't know what I was gonna do to be completely real. I didn't know what I was gonna do. So the other thing that was kind of happening at this particular point was I was noticing, and you and I both have, children who are now adults, but at that time they were younger. They were like coming into their own, they're in their teens and that kind of thing, and that particular generation was coming up in some ways. Like we talked about, like they had all of these folks that they could look to.    [00:11:34] Miko Lee: Mm-hmm.    [00:11:34] Jeff Chang: Right. you know, our kids have opportunities in media that we never had.   [00:11:39] Miko Lee: Mm-hmm.    [00:11:39] Jeff Chang: We've had to break through in a lot of ways. And there was also, in a weird way, this sort of entropy around this notion of Asian America. Like young people who call themselves Asian American would also sit around and be like, what even is an Asian American? How do I relate to these other types of folks who are also classed as Asian Americans, or who describe themselves as Asian Americans as well. Like politically, culturally, the kind of food we eat, the way we dress, who we hang out with. Like all of the diversity that we've celebrated for so many years felt like entropy, I think, to them like this is, there's no center to this anymore. Then the pandemic happened and the violence, Was one way of saying this is it's the ice cube moment. This is what they think of you. You know what I mean? Yeah. And, and I think that was what galvanized, especially a lot of young people to find a new sense of purpose, a new sense of activism, a new sense of, how to be in the world And    [00:12:43] Miko Lee: for maybe some young folks who had never felt that they had experienced direct racism before, to suddenly see it really blatant in the community.    [00:12:52] Jeff Chang: Right. And, it was personal. It touched all of us. I know everyone has stories about how we were treated during the pandemic, and especially the women and especially, the queer folks. In a lot of ways it was paradigm shifting and it was paradigm shifting for me too, you know, so I'm writing about this guy who considers himself a martial artist.    [00:13:13] Miko Lee: Mm-hmm.    [00:13:14] Jeff Chang: And he's teaching people about self-defense.    [00:13:18] Miko Lee: Mm-hmm.    [00:13:19] Jeff Chang: And in his career being accused of fomenting violence, like a lot of. Folks in hip hop have been over the years.    [00:13:27] Miko Lee: Mm-hmm.    [00:13:28] Jeff Chang: I'm suddenly like looking at this in a completely different light. What does it mean to think about self-defense and violence and training to be a warrior, right? I have a lot of folks who are in the military. My mom worked for the police department, like what does that mean? For somebody like me who's, essentially anti militarist, who has critiques of the police, as we all should. who's a deep supporter of Black Lives Matter, like how do we think about what it means to, to be a warrior, and also to understand like the dignity, right in wanting to be a protector.    [00:14:04] Miko Lee: Right.    [00:14:05] Jeff Chang: Right. And to, uplift what that means, but to kind of think about all of these existential questions and then at the same time to see Bruce popping back up on our walls and murals and popping up on our feeds as a symbol, right. Of pride. Especially during this particular period, near us in the bay, like in San Francisco, Chinatown or Oakland Chinatown, young people bringing back the image of Bruce as a symbol of pride and also this sort of cry for like, can you see us? This sort of underlying desire to find solidarity. All of this mixed up with this like identity crisis that is now taking a different type of turn. So it was a lot to think about and suddenly I was just like, oh, oh, oh, wait a minute. Maybe that's what I'm supposed to write about. So the book became, about Bruce, but also about Bruce as an Asian American and about him kind of traveling parallel to the rise of the Asian American movement.    [00:15:04] Miko Lee: Yeah, I think it's so powerful that way, that it does tell this whole Asian American history for folks that might not know from, the very beginning of our, coming from the exclusion act to I hotel, to Vincent Chin and not just like politically, but then also cinematically because he crossed over so many barriers for us. So we're also getting Asian American cinema history with Anna May Wong and Sessue Hayakawa, and even the Hong Kong industry. So I love how you combined all these different elements. It's such a wonderful way to look at that. And I'm wondering what made you decide to organize the book into these three categories of water, mirror, echo.   [00:15:44] Jeff Chang: The line came first, Bruce's famous. Epigraph is, be water my friend, and, me being the nerd that I am, I wanted to trace the origins of that and found it pretty quickly, in a sort of, Daoist type of text. called the leads and the full, Section that, had influenced Bruce so much was moving be like water, still be like a mirror, respond like an echo. This is a line that actually resonates through Zen Buddhism as well. It was one of those things where when I first read it in Bruce's Dao Jeet Kun Do, I fell outta my chair. It was amazing. It blew me away. We'd all heard “be water.” We'd heard athletes say it. we'd heard, business leaders, say, we saw the activists in Hong Kong, using it, in the streets. and. Yet to see all of this together was even deeper. That was a window into wow. We think of Bruce as the great popularizer of martial arts. Bruce, he's not recognized as the great popularizer of Asian philosophy, in a lot of ways. It happened during this particular period during the sixties where, views of Asians and Asian Americans were beginning to shift dramatically, opening up in a lot of ways. So we had this phrase, my editor, Akia Clark, and I. She was like, all right, “how are you gonna organize this Jeff?” I was like, I don't know, help me. And she's like, all right, there's a water, there's a mirror, there's an echo here. And it actually tracks to his life and the arc of his story and I was like, “oh, wow. Yeah.” So I can't take any credit. I have to give it to my editor, who is,    [00:17:24] Miko Lee: that's a good editor.    [00:17:25] Jeff Chang: Amazing. Yo, she was amazing. Rekia was like, I signed you because, I grew up and the only Asian I knew was Bruce Lee. She grew up in largely black communities. She was like, I need to know more. , I really want to hear your take on this. And, and So it was a, an incredible collaboration in that way because it was the type of here's where we meet. She was literally giving me free reign to be able to tell me a story. Tell me why we're meeting here. Right. Why were we meeting through Bruce? That ended up giving me so much confidence and focus after I'd had, all of these years of being in the woods and, uh, what am I gonna do? And then, Lourdes is trying to shake me up That's kind of how it,    [00:18:09] Miko Lee: it took that time, that time to simmer, and your creative juices to be able to come up with this.    [00:18:15] Jeff Chang: Yeah. Yeah. It didn't feel. Like it at the time, but looking back now, I'm not the fastest, ho nu in the water.    [00:18:22] Miko Lee: Because you talked a little bit about confidence and how much Bruce shared about, Asian philosophy, which I think is really true. I wonder if you could speak a little bit more about his sense of confidence, both in himself, and then a sense of destiny, like the mark that he was gonna leave on the planet.    [00:18:38] Jeff Chang: It's very interesting to me because I think that this has been kind of, a part of the Bruce Lee legend. It was like he was born for a purpose. I was going through his papers and talking to, his, surviving family members and friends, like it was all improv.    [00:18:55] Miko Lee: Really him saying all those things was improv. What was all improv?    [00:18:59] Jeff Chang: Yeah. I think part of it, I think, well, maybe it wasn't an all improv, certainly he was driven.   [00:19:04] Miko Lee: Mm-hmm.    [00:19:04] Jeff Chang: He was incredibly ambitious and he was incredibly driven and he knew where he wanted to go. Absolutely 2000%, I think he entered this journey, like all of us in our journeys, you know, like we're maybe packed for the journey, but we might find along the way that we don't have what we need. I was attuned to the points where that narrative would break down. To all of the vulnerabilities that he was feeling in different moments. and especially because I got to talk to folks, who knew him, who maybe hadn't necessarily been interviewed in like, the years. His very close Asian American friends, the folks who knew him, off the martial arts training floor. the folks who thought he was weird and kind of corny, folks at UW. All of these folks knew him at the University of Washington. And the, the common thing was, this guy's goofy. He's just had a one track mind. Like, he just wants to like show us like. Like Gung fu things all the time. Like who does that?    [00:20:08] Miko Lee: Like Bruce stop already. We heard that.    [00:20:10] Jeff Chang: right, right. Like punch me like, you want me to punch you? That was funny. You know, I was just, and that was sort of also a mind shift, you know, like    [00:20:19] Miko Lee: Yeah.   [00:20:19] Jeff Chang: It was like, oh, so there was a time before    [00:20:21] Miko Lee: he was revered,    [00:20:22] Jeff Chang: the cool guy. Yeah, before he was the cool guy. Then before he was the guy that was like super suave and like all the, whatever all the ladies wanted and all the guys wanted to be like, that's been the Bruce narrative. So I was attuned to those parts and what strikes me is how much at the end he stuck to his guns. Like folks will read this in the last section of the book, and I don't want to give it away, but this is when Destiny kicks in and Bruce rises to the top and he makes another dragon. He becomes this global star and it was meant to happen. And I was like, no. He was actually fighting every step of the way. Like every day of his life. He felt like this thing was gonna fall apart. At one time, he boycotted his own movie because they weren't giving him what he wanted. Some of his closest friends say the real thing that killed him. People talk about the coroner's report conspiracy, like evil spirits that, but what he really did was like sacrifice himself in a way. That's how a lot of his friends talk about it, you know? From a sense of this deep personal loss of somebody whom they loved so much and who was like there one day and suddenly gone the next, And so, you know, to deal too with that, question of the melancholia that comes with what we experience when we're the survivors of someone we love, who suffers a premature death. In that regard, like I feel like the last part of the book too was deeply informed by. All of the stuff that's come before, with the Black Lives Matter movement. You know, and understanding, that these came from deep sources of grief and mourning and loss. Thinking about what it's meant for Asian Americans to have to look at two generations before we get to the things that Bruce was fighting for representationally    [00:22:14] Miko Lee: Yeah.    [00:22:14] Jeff Chang: You know, before we can get to everything everywhere, all at once. And Michelle Yeoh, receiving the Oscar for that. Like it took two generations. It took Brandon passing away one generation after his father, and then it took a whole bunch of other work that, a lot of folks needed to do in order for us to be able to. Get the kinds of representations that we hoped that we might see after, another dragon. and that, something that, has produced a melancholia in us, you know?    [00:22:48] Miko Lee: Yeah. Yeah.    [00:22:49] Jeff Chang: So.    [00:22:50] Miko Lee: You are talking a little bit about the people that you interviewed and there's so many clearly that you did, and when I was reading it, the backstory of Taki, that was when I thought, oh, this is an Asian American author. I mean, I know you, but it like, including that whole backstory I thought was so powerful and actually helped to build out the story of who he is, who his friends were and how he worked with them. I'm wondering if there's an interview that you didn't get.    [00:23:14] Jeff Chang: So many. So many.    [00:23:16] Miko Lee: Oh really?    [00:23:17] Jeff Chang: Yeah. I mean, I haven't gone back to look at the original contract and the date because so many people passed away. I got started on this, I had three other books that I had to complete from my, publisher at the time this book was signed out of, those contracts. I had had a full-time job then, and then when the, pandemic and BLM sort of reached that inflection point, it was a much more than full-time job. I didn't have time to be able to actually devote the book that I really needed to. I did research over a very long course of time. I did interviews over a very long course of time, but I started the interviews too late, so I couldn't interview Taki.    [00:23:54] Miko Lee: oh wow. Okay.    [00:23:55] Jeff Chang: I couldn't, yeah. Taki, was, alive. He lived to a very old age, but Alzheimer's. Um,    [00:24:01] Miko Lee: oh wow.    [00:24:02] Jeff Chang: Took him, you know? By the time I started reaching out, it was a little bit like too late. I spoke to his son instead at great length. and a lot of other folks around, him. There wasn't just one, there were a million interviews. I didn't get. Taki, I didn't interview Jesse Glover. I would've loved to have interviewed some of his friends From Hong Kong, but we couldn't access them because of the pandemic. I had an amazing researcher on the ground, Winnie Fu who, did a lot of amazing work there and was able to source a lot of stuff for us. There was so many people, and even now, like I was just up in Seattle for the unveiling of the Bruce Lee postage stamp, and I got to meet a friend of his from high school, and so I'm gonna sit down. I've been talking with Shannon's, cousin, Bruce's niece who has been keeping the genealogies of the family. We've been talking a lot. I'm gonna go back and interview her, and so hopefully maybe by the time the paperback edition comes around, I might be able to have some new information that I might be able to throw in in that edition.    [00:25:03] Miko Lee: Yeah. What surprised you most about the research?    [00:25:06] Jeff Chang: I think that Bruce was vulnerable. He felt very lonely a lot of the time. he had set himself out like this huge impossible dream in some ways. he knew his destination. He had no idea how he was gonna get there. That's where I talk about it was all improv. and at different points he despaired. I don't know if these folks are really seeing me, I don't think they really understand me. After the Green Hornet, he couldn't get a job. That he felt was befitting him, you know? So he's taking whatever work he can get. He's working as a fight choreographer for Nancy Kwan. And, just doing what he can and he's relying upon people to put him on. He's doing Gung FU training of a lot of the Hollywood top brass. So he can reach out to them, but even they don't believe in him. They don't believe in him like that. That's why he decides he has to leave. But it takes him literally four years to realize, oh, they don't see me as a main character. They don't see me the way I see myself. Yeah. So I gotta go. Even then he's still trying to get on the TV show, Kung fu. When that door slams and they cast David Carradine yellow face, he's like, oh, that, and that's when the ice cube moment really sets in for him. Like, that's how they see me. That's how they really understand me. After that, he's fighting this battle to try to get back to Hollywood. That's, one of the things he feels like he really wants to do. his thought is that I need to build up as much capital as I possibly can in order to be able to negotiate from a point of, strength. It's just very hip hop. It's very wutang clan. He's able to kind of get there. But he's still gotta fight these battles at the end. They just wanted him to shut up and kick. They gave him a black CoStar and a white CoStar because they were afraid that an Asian lead wouldn't make it. They wanted to name the movie Hans Island. Not Enter the Dragon because, Oriental villains were easier to understand than an Asian American male lead. So    [00:27:00] Miko Lee: that's such a horrible title too.    [00:27:02] Jeff Chang: Oh my God. How can you imagine we would not be talking about Hans Island.    [00:27:07] Miko Lee: I don't know how they thought that was a good idea.    [00:27:10] Jeff Chang: Yeah, it's true.    [00:27:11] Miko Lee: Is there anything else that you would like your audiences that to understand about Bruce Lee?    [00:27:16] Jeff Chang: What I tried to do is portray him in the context that he actually lived in, We've got the legend of Bruce, we've got the stories, of Bruce that have kind of burnished the legend. What I tried to do was to try to put him back as a human being, as a young person walking through Hong Kong streets and the streets of China, you know, down Grant and then, down King Street in Seattle. making it up to the studios, in Hollywood. and what that meant, for him to, actually accomplish all this kind of stuff. Because when we take away the legend, and this is one of the things I was worried about too, back in the late 2000 tens when I was like, I don't know what I'm gonna write. When you take away the legend. I was worried that people were gonna be like, oh, you just want to drag down this guy? And you're like the guy that's just throwing water on our hero. But what I'm, really understanding now is. when you look back at what he went through and what he overcame, he actually becomes even more heroic, to all of us. He wasn't a perfect person. but I think he remains a hero like more than a half century after his passing because of the things that he did.    [00:28:28] Miko Lee: I think that's right and I think you do an amazing job in the book of incorporating this powerful Asian American history and putting, his experience in a time and place that helps the broader world understand what an icon he is and remains. And I really appreciate you for writing this book and taking this time and the amount of energy it took to Percolate really pays off.    [00:28:52] Jeff Chang: Thanks so much. I so appreciate you.   [00:28:55] Miko Lee: So I'm gonna be interviewing NAKASEC on their new study on Asian American Men in the Manosphere. Are you familiar about this?   [00:29:02] Jeff Chang: Oh, I can't wait to read this. I cannot wait to read this. It's so,    [00:29:06] Miko Lee: do you know about this? No. To this report.    [00:29:08] Jeff Chang: I didn't know about it. I didn't know about it. I'm, I'm glad somebody's doing it.    [00:29:11] Miko Lee: Yeah. So they did a whole survey and they found that there is a lot of Asian American men that are part of the manosphere. Mm-hmm. And I'm wondering for you, who's written about Asian American male identity, if you have thoughts about this?    [00:29:26] Jeff Chang: So many thoughts. I was very much thinking about the Asian American manosphere as I was writing this book, because these are my cousins, these are my friends, these are, folks who I've sparred with.   [00:29:39] Miko Lee: Right.   [00:29:40] Jeff Chang: These are conversations I'm having with folks, at the bar over a meal. I'm really interested in seeing how we're able to understand what the appeal of the far right has been around questions, of masculinity in this moment and to win these folks back. I've also seen on the flip side, shifts and changes, around, how Asian American masculinity is displayed sea on social media in this era of a crackdown in immigration.    [00:30:19] Miko Lee: Yeah.    [00:30:20] Jeff Chang: We really do need solidarity. We really do identify with, what Latinos, are going through. What I worry about is that, the Asian American left, our first in instinct would be just to be like, ah, I can't talk to them. it's Gonna like upset me too much. I can't deal with this. Somebody has to,, because that, those are our folks and we've lost them over the last, five years or so and we've gotta get 'em back.   [00:30:45] Miko Lee: And are there folks that you know of that are working specifically on ways to pull this community back?    [00:30:50] Jeff Chang: I imagine that there's a lot of work on the ground that's happening. because this is the, world that I'm in, I look to the folks who are, doing podcasts or doing social media work and, who are, often, men who. Are, you know, kind of like me, like troubled by this development and trying to find a way to speak to their folks as well. I'm monitoring that. I'm not, deep within it, but, like I said, I wrote this book, understanding that, that particular subset of our community. those are the folks that, are the Bruce Lee fans.    [00:31:22] Miko Lee: Yeah.    [00:31:23] Jeff Chang: and are the folks who are, involved in, mixed martial arts and, involved in, athletics and, all these other kinds of things. And, and they're not too far away.    [00:31:33] Miko Lee: Yeah. It feels like there's a disconnect between that kind of loving of Bruce Lee and that world, and interaction with politics, interaction with the current events and how that's impacting them and their families.    [00:31:48] Jeff Chang: Well, I think it's. Yeah. I put that down to the fragmentation of the way that we receive media.    [00:31:54] Miko Lee: Mm-hmm.    [00:31:55] Jeff Chang: You know, and also, of course, the ways in which social media is geared towards the extremes. The way it's geared towards the extremes and towards lifting up the. Loudest crudest voices sometimes. Mm-hmm. That's exactly where the manosphere originates from. Right? That's where it    [00:32:15] Miko Lee: lives.    [00:32:15] Jeff Chang: Yeah. That's where it lives, is inside that pocket. It's about again, trying to get inside of that and what's causing that. What's the melancholia that's behind that? What is generating this rage, this fury, and being able to channel that, fury, that anger into, ways that will actually help not just all of us, but specifically them.    [00:32:39] Miko Lee: Yeah.    [00:32:40] Jeff Chang: That's an organizing problem that we have to take up.   [00:32:43] Miko Lee: Thank you for sharing. I'm gonna send you the research, the report so you can read it and,    [00:32:48] Jeff Chang: uh, I can't wait to break this open. Oh,    [00:32:52] Miko Lee: okay. I appreciate you. Thanks so much.   [00:32:54] Jeff Chang: Thank you.   [00:32:55] Miko Lee: Next up I speak with Rachel Kelzer, the communications director for NAKASEC, about their new study of Asian American men and the manosphere.Welcome Rachel Koelzer, communications Director for NAKASEC. Welcome to Apex Express.    [00:33:12] Rachel Koelzer: Hi. Thank you so much for having me today.    [00:33:15] Miko Lee: Can you first explain for our audience, your organization that you work with NAKASEC    [00:33:19] Rachel Koelzer: So NAKASEC is short for the National Korean American Service and Education Consortium. We are a national network of five affiliated organizations in six states.   [00:33:32] Miko Lee: Thank you. I wanna start with the question I ask all of my guests, which is, who are your people and what legacy do you carry with you?   [00:33:41] Rachel Koelzer: This is a great question. My people are the dreamers. They are the community rooted, change makers who believe that we are accountable and responsible to each other. For our collective wellbeing, our collective liberation, and our collective joy and care for each other. My people are also Korean adoptees, part of the Asian diaspora, and people who have survived challenges of life and still seek joy and to thrive.   [00:34:23] Miko Lee: Thank you so much for sharing. Through your work at NAKASEC, you recently released this report with a big old title, Asian Men, the Manosphere and Social Media, an Inflection Point for Asian American Advocacy and American Democracy. Wow. Can you first talk about what inspired this study?   [00:34:43] Rachel Koelzer: I became aware that there was this ongoing trend and challenge that we were having of not reaching young Asian men. Our followers were predominantly non men. Based on gender and significantly more women following us. Something like 70 30, 80 20. I talked with other organizations who also do advocacy and community based work who also faced similar challenges. I just wondered why. What is it that is preventing us from effectively reaching this large portion of our community that we serve? So from there we went and partnered with Dr. Tom Wong, and really started to dive into exploring the reasons behind it.    [00:35:34] Miko Lee: So let's back up for a second. Can you explain for our audience what the manosphere is?    [00:35:40] Rachel Koelzer: The manosphere in kind of simplified terms, it's a loosely connected network, of online communities, influencers and content creators who focus on men's issues, masculinity, dating, health and fitness, financial wealth, and gender dynamics. It includes this wide spectrum of content, that range from like the more everyday fitness self-help. To more controversial topics, like anti-feminism, traditional gender roles and critiques of modern women in society. The common thread across these, loosely connected, communities and spaces is this underlying thread of traditional gender norms and expectations.    [00:36:30] Miko Lee: So is the manosphere inherently misogynistic?    [00:36:34] Rachel Koelzer: Yes.    [00:36:35] Miko Lee: Well that was a really quick response. Yes. No question.    [00:36:38] Rachel Koelzer: [Laughter] I being real here, you know? Yeah. It is.    [00:36:46] Miko Lee: Okay.    [00:36:46] Rachel Koelzer: So within the broader manosphere, there's also men's rights activists. Some more like toxic masculine type views. There is a little bit of a range, but yes, inherently, there's deep rooted misogyny.   [00:36:58] Miko Lee: So how did you find people for your Study were they self-described people that participated in the manosphere?   [00:37:06] Rachel Koelzer: We partnered with Dr. Tom Wong, who is at the University of California, San Diego to conduct this survey. He used the voter file. They are self-identified Asian men and we set the parameters to be between the ages of 18 to 45. They identified across political ideology, across political party, and started with more general questions around their social media use. What platforms were they on? What, were the reasons that they were on social media. Who did they follow? To get a baseline understanding of where and what they're consuming. We know that they're online. There were questions about engagement with the manosphere.   [00:37:52] Miko Lee: What did this study reveal? What was surprising to you?    [00:37:57] Rachel Koelzer: What was really shocking is that one in five young Asian men are regularly engaging with manosphere content. That's 20% one in five.   [00:38:07] Miko Lee: That's a huge number.    [00:38:08] Rachel Koelzer: It's a huge number. Yeah. They're engaging with this content that is, starting off pretty innocuous like, you want to look better, you want to feel better, you want to have better relationships. What's being embedded in that to varying degrees of, subtlety are these values of more traditional expectations and roles. It's alarming that this that this many young Asian men are regularly engaging with it. We defined engaging, as, commenting, following, sharing. There were questions about how often they're seeing it across their feed, whether or not they're looking for it or not. We found that 35% of young Asian men are encountering manosphere content on their social media feeds several times a week.   [00:39:00] Miko Lee: Are they identifying it as manosphere content?    [00:39:04] Rachel Koelzer: They identified it, yes. In the survey we did provide a definition. Beforehand of what the manosphere was, and so anything within that would have to fall under this category.   [00:39:17] Miko Lee: Are most of those influencers and content creators, Asian American men also?    [00:39:23] Rachel Koelzer: That's a really good question. When both Dr. Wong and our team, NAKASEC team, were doing some research there, we didn't actually come across when we were looking at like the bigger names, right? Tens of thousands, upwards of millions followers. We didn't really come across many of those large followers that are Asian men. The men that are perpetuating it, regardless of their race or ethnic background. I think what that points to, you mentioned white supremacy earlier, but there's this idea and value that's perpetuated of colorblindness. And so in this space, the gender kind of supersedes the race. What was really curious is, later on in the study we also asked, about early childhood experiences and lessons, from the adults in their lives around masculine values, around showing and expressing emotions, and around representation of asian men in the media. A large portion agreed that the overall representation of Asian men is harmful. We know for those of us who have been interrogating our experiences in the world for a while. We know that Asians and Asian men in particular, we're stereotyped, we're troped in a lot of ways, right, of these feminine, unattractive, nerdy, geeky, or you've got the other side, you've got the Bruce Lees, you've got the Jackie Chans, right? There's a flattening that happens and . I think that is where the manosphere is dangerous and potentially even more appealing to communities who feel that they've been overlooked and undervalued, because it offers answers and those answers are really harmful to other communities, but they're still providing answers.   [00:41:28] Miko Lee: Can we speak a little bit more about the perceptions of Asian Americans in the media There's the stereotypes around women being either the dragon woman or the sexual exotic kind of play toy. Asian men, as you were pointing out, it's either the kung fu guy or the nerdy guy or the effeminate guy. Right. There's like not that much distinction. Is that your perception as well?    [00:41:57] Rachel Koelzer: Yes. I think there's been, even from when I was a child and growing up, over the past 30 years, there's been, improvements. But I think overall yes.   [00:42:08] Miko Lee: When I grew up, the only images were movies and television, and there just was not that much. So we did have those stereotype visions, but it was so limited in scope and content. There just was not as much content. Now it's everywhere. There's content in your phone, there's all these different social media apps, there's all these different channels you can watch. I'm wondering how that has impacted Asian Americans men's perspectives on how they see themselves and if that. Just looking at social media and the manosphere and how that impacted, the reason why you did the study and the outcomes of the study.   [00:42:46] Rachel Koelzer: The study showed that 26.7% of the men who were surveyed feel that Asian men are portrayed favorably in social media. That's actually still a very low percentage. 71.6% agree that Asian men are often underrepresented or stereotyped in media and popular culture. Even though yes, there's still greater representation, that there's still the portrayals and the quality and caliber or what that representation actually is, or how it's developed is still significantly lacking. What the manosphere offers, one, it offers answers as to how you might get away from, from those, right? You might be able to get out of that, which is to be this hyper quote unquote, masculine, dominating, character. It points the blame directly away from systems like patriarchy and white supremacy. It doesn't really interrogate what internalized misogyny, internalized racism, looks like and is doing. It's saying. You know what the problem is actually that women are becoming too independent. The problem is that, men are becoming too effeminate, and so there's this combination of race blindness and naming another villain in a way that punches down.   [00:44:32] It's a combination of looking for genuine insight and information to better understand their experiences and they're finding answers, but the quality of those answers and the ways that they're getting pushed to those are very problematic, very concerning. Not just for what that means for women in queer rights and immigrant rights and marginalized communities rights. These kinds of values that are being espoused and normalized. But what that means for, , how someone starts to view themselves and, their role in the world and the impact that that has on the systems, and structures of our society.    [00:45:13] Miko Lee: There's so many interesting things that you said. I heard you say the men are finding a sense of belonging in the manosphere, and they're getting answers and the answers being right wing propaganda, which is being fed to them. Is that right?   [00:45:26] Rachel Koelzer: Yeah, I think that's right. The problem is the quality of the answers that they're receiving. The values that are embedded within that, whether or not they're being explicitly named, it's not. There are, again, if you go further, deeper, there are folks that are very proud to be part of the manosphere. That is a known and a shared identity as far as like we are part of the manosphere.Then there are those, I think Joe Rogan himself is like, I'm not part of that, but if you listen to his content and his messages, right? There's a lot of those traditional right wing, very violent and misogynistic roots that are coming out in there.   [00:46:13] It starts off very innocuously looking for answers, looking to better understand your life, your experiences, and what you can do about it. That's innocuous enough. Right. And there's even, like, there's a lot to be said about that kind of,, what's the word I'm trying to think of,, initiative, right? To better understand and seek resources and things. But unfortunately through a combination of the algorithm. Through investments into these kinds of content creators, , and spaces we're seeing that those proliferating a lot more. And so whether or not young Asian men are intentionally seeking this type of content, they're being fed it regularly.   [00:46:54] Miko Lee: I also heard you this comment about race blindness. I get that it because it's like men, men, men we're men and we're bounding together. But race blindness feels like a rube, if you will, for, white supremacy and misogyny. It's this way of saying we are all one, but very much targeting, specific folks that are not in positions of power and control.   [00:47:21] Rachel Koelzer: Yeah, absolutely. It flattens and erases the experiences of people who have been marginalized through, our laws, our policies, and it stops the need. It stops the self-reflection and interrogation too that is asked of us otherwise, which is to reflect on what power do I hold and what is my responsibility with that power, whether it's, having more privilege because I'm a citizen. Having privilege because you are a man. Even if you are also, historically and presently marginalized because of your race as an Asian person, it reduces that depth and again, that responsibility for self-reflection and interrogation.   [00:48:22] Miko Lee: So given all that, your report says this is a warning sign, which clearly it is and an opportunity. I wonder if you could talk a bit more about what is the opportunity here as we're in this time of great change. Great revolution, the year of the fire horse. Talk about how we can actively disrupt that pipeline to radical extremism.    [00:48:46] Rachel Koelzer: It's an important question and it's an important conversation that we need to have. There needs to be an awareness and an understanding of what it is that, is threatening the health and wellbeing of our community and of our country. What this study showed is we're at an inflection point. The percentages, the numbers, we're not so far down the rabbit hole, but we're like right on the edge. We're like at this tipping point, and so intervention is necessary now. This is a great opportunity for organizations, for community leaders to be having these conversations. To be engaging in political education with their community members to be, educating and informing and connecting with members of their community, particularly young Asian men. And it's an opportunity for these in-person spaces and these digital spaces to be countering the manosphere with our own answers.   [00:49:51] I think that's one of the biggest things, especially when we're talking about a digital space, to be investing in content creators, to be investing in artists, to be investing in doing the work of putting out our own answers and solutions. Explanations and analysis of what is happening. It's a call to action and an opportunity for funders, donors for people who have the ability, to put money behind these kinds of spaces online. There's just this significant disparate investment. It's an opportunity to be really investing in community, really investing in recreating spaces, building out spaces, I'm thinking particularly again, community-based organizations who can be understanding what the risks and threats are and understanding their communities where they are, and not necessarily adding to, but, with this threat in mind, how does that inform the spaces that you're creating or the strategies that you are engaging?Whether it's online or in person.   [00:51:13] Miko Lee: We need to gather up our brothers, our nephews, our uncles, gather 'em all up, talk about our real, Asian American history of resistance, our power, our ability to move forward, connect with that in person, pull them outta the manosphere, connect all together so that we could move forward as a community in solidarity with each other.   [00:51:37] Rachel Koelzer: Absolutely. There's opportunities across the board regardless, of where your particular position is. Even if you're not a part of a community organization or you're a teacher, a parent. One of the things that also came up in this study was that across ideologies, across the political spectrum and across age groups, there was a significant number. It was like close to 70 or over 70% had shared experiences, of being discouraged from showing emotions, from being, from seeing, modeled from the men in their lives, examples of stoicism. Of, more traditional masculinity, more traditional gender norms. And so there is this also aspect of, yeah, bringing in folks, bringing in our nephews, our brothers, our cousins, our friends, our uncles, and a reflection upon what can we do to be, raising our next generations, our current and our next generations, to value themselves and those around them who are different. To be able to express emotions, be able to have deep, reciprocal relationships, , and to have respect and understand what it means to reflect on one's privilege that comes as a result of, an identity in this very hierarchical world, whether it's, as a man under patriarchy or white, under white supremacy. These are skills that can be taught and can be learned. I think that this is also an opportunity to be reflecting on how we as a society understanding these    [00:53:33] Miko Lee: Well, Rachel Koelzer, thank you so much for joining me and sharing about your report. How can people find out more about your work?   [00:53:42] Rachel Koelzer: Thank you so much for having me. You can follow NAKASEC on most social media platforms. Visit our website. We've got tons of resources and information there and check out our local affiliates. You can find out more about them on our website and on our socials. If you are, you know, in the area, would love to see you.    [00:54:01] Miko Lee: Thank you so much.    [00:54:03] Rachel Koelzer: Thank you.   [00:54:04] Miko Lee: Thank you so much for joining us. Just a note that Apex Express will be off air for fundrive until May 28th, but we wanna acknowledge that May is Asian American, native Hawaiian and Pacific Islander Heritage Month, and there are film festivals and cultural events happening all around the country that celebrate our diverse experiences. One Bay Area one to note is CAAMFEST. It's back! The center of Asian American media returns for its 44th year and its festival from May 7th through the 10th is at the Kabuki Theater, a MC in San Francisco with an amazing program of impressive filmmakers. Check it out, maybe I'll see you there and happy AANHPI month. Please check out our website, kpfa.org/program/apexexpress to find out more about our show and our guests tonight. We thank all of you listeners out there. Keep resisting, keep organizing, keep creating, and sharing your visions with the world because your voices are important. Apex Express is produced by Ayame Keane-Lee, Anuj Vaidya, Cheryl Truong, Isabel Li, Jalena Keane-Lee, Miko Lee, Miata Tan, Preti Mangala-Shekar and Swati Rayasam. Tonight's show was produced by me Miko Lee, and edited by Ayame Keane-Lee. Have a great night..    The post APEX Express – 4.30.26 – Bruce Lee and the Manosphere appeared first on KPFA.

Pícale aquí y participa en una sesión exclusiva en vivo https://form.typeform.com/to/SRcCDWYSGRUPO DEL PODCAST https://chat.whatsapp.com/ChNg9RSIV0H3YieQXpNGbRSígueme en mis Redes Sociales para más Contenido:- https://www.instagram.com/mastermunozoficial- https://www.tiktok.com/@mastermunozoficial- https://www.facebook.com/Mastermunozoficial- https://www.twitter.com/soymastermunozEscucha nuestro podcast "Dónde Está la Oportunidad" en Spotify:https://open.spotify.com/show/2TXszKkw7CDoMI9LkG3EXo?si=bc7e9eb5143e4511

''He's Olympic-level at party games…”Dave was joined by Hollywood A-lister Hugh Jackman for a chat about his upcoming film, The Sheep Detectives.

La Policía Cibernética alerta sobre la llamada cruzadaDestaca Edomex baja en la percepción de inseguridadCasi la mitad de las personas desempleadas tienen entre 25 a 44 años Más información en nuestro podcast#grc

Shawn O'Malley and Daniel Mahncke explore CoStar Group (ticker: CSGP), the dominant provider of commercial real estate data and analytics, and assess whether the company's massive $5 billion bet on Homes.com can successfully crack the residential real estate market dominated by Zillow, or whether this ambitious expansion will destroy shareholder value. IN THIS EPISODE YOU'LL LEARN: 00:00:00 - Intro 00:01:42 - Why the company has delivered nearly 60 consecutive quarters of double-digit revenue growth 00:09:17 - How CoStar built a dominant, near-monopoly position in commercial real estate data and analytics 00:18:30 - How CoStar generates roughly 50% profit margins on its core B2B business 00:44:12 - What makes CoStar's data moat so durable and difficult for competitors to replicate 00:48:12 - How the company's acquisition-driven strategy has fueled decades of growth 00:56:22 - Why CoStar is investing $5 billion into Homes.com to take on Zillow and Realtor.com 00:58:21 - Competitive landscape in the residential real estate marketplace 01:08:41 - Whether CoStar's massive residential bet will pay off or destroy shareholder value 01:23:57 - How Shawn and Daniel value CoStar and whether CSGP belongs in the portfolio Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join ⁠⁠The Intrinsic Value Conference⁠⁠ in Omaha this May 1, 2026! Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠here⁠⁠⁠. Join the exclusive ⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Shawn, Kyle, Daniel, and the other community members. Track ⁠The Intrinsic Value Portfolio⁠. Costar pitch on the ⁠Value Investors Club⁠. Drew Cohen's⁠ podcast on CoStar⁠. Follow Daniel on ⁠⁠X⁠⁠ and ⁠⁠Linkedin⁠⁠. Follow Shawn on ⁠⁠X⁠⁠ and ⁠⁠Linkedin⁠⁠. Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try Shawn's favorite tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

The apartment market has been under pressure, and if you've only been hearing the noise, you're missing the full picture. In this update, we break down what's actually been happening across the Southeast, Texas, and the Mountain States, from the wave of new supply that hit all at once, to builders offering three and four months of free rent just to fill units. We walk through the math on how a $2,400 apartment effectively became a $1,600 apartment overnight, and what that did to B-class operators across some of the country's fastest-growing markets. Markets like Tampa saw rent growth turn negative. CoStar is projecting only about 0.4% growth ahead in the most oversupplied areas. That's the reality, and we're not here to sugarcoat it. But here's what hasn't changed: there is still a national shortage of 4.7 to 7.7 million affordable housing units. The demographic demand is intact. And now, with oversupply being absorbed and concession wars winding down, distressed properties are beginning to surface – deals where sponsors are underwater, lenders are ready to move, and acquisition prices reflect a very different reality than where values were two years ago. The suppression is lifting. And for the investor who's been paying attention, the window may just be opening. This video breaks down where we're seeing real opportunity show up, how we're thinking about positioning, and what separates the investors who act wisely in this environment from those still waiting on the sidelines. Join Our Investor Club: https://bit.ly/4avyqFm

 Holmes, 47, recently shared a post celebrating the Tribeca Film Festival premiere of her film *Happy Hours*, which reunites her with Jackson, also 47. The pair dated during their time on *Dawson's Creek*, where Holmes portrayed Joey Potter and Jackson played Pacey Witter, with their characters evolving into a beloved on-screen couple.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Shawn O'Malley and Daniel Mahncke explore CoStar Group (ticker: CSGP), the dominant provider of commercial real estate data and analytics, and assess whether the company's massive $5 billion bet on Homes.com can successfully crack the residential real estate market dominated by Zillow, or whether this ambitious expansion will destroy shareholder value. IN THIS EPISODE YOU'LL LEARN: 00:00:00 - Intro 00:01:42 - Why the company has delivered nearly 60 consecutive quarters of double-digit revenue growth 00:09:17 - How CoStar built a dominant, near-monopoly position in commercial real estate data and analytics 00:18:30 - How CoStar generates roughly 50% profit margins on its core B2B business 00:44:12 - What makes CoStar's data moat so durable and difficult for competitors to replicate 00:48:12 - How the company's acquisition-driven strategy has fueled decades of growth 00:56:22 - Why CoStar is investing $5 billion into Homes.com to take on Zillow and Realtor.com 00:58:21 - Competitive landscape in the residential real estate marketplace 01:08:41 - Whether CoStar's massive residential bet will pay off or destroy shareholder value 01:23:57 - How Shawn and Daniel value CoStar and whether CSGP belongs in the portfolio Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Join ⁠The Intrinsic Value Conference⁠ in Omaha this May 1, 2026! Sign up for The Intrinsic Value Newsletter. Track The Intrinsic Value Portfolio. Costar pitch on the Value Investors Club. Drew Cohen's podcast on CoStar. Follow Daniel on ⁠X⁠ and ⁠Linkedin⁠. Follow Shawn on ⁠X⁠ and ⁠Linkedin⁠. Related ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Get smarter about valuing businesses through ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Check out ⁠⁠⁠⁠The Investor's Podcast Starter Packs⁠⁠⁠⁠. Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠sponsors⁠⁠⁠⁠: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them. Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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 En este episodio, el abogado Jonathan Shaw analiza un caso reciente de la Junta de Apelaciones de Inmigración que deja una lección clara: sin credibilidad, no hay asilo. A través del caso “Matter of RAU”, explica cómo inconsistencias en testimonios y documentos pueden destruir un caso, incluso después de haber sido aprobado inicialmente. Además, aborda una importante advertencia sobre fraudes migratorios tras el desmantelamiento de una agencia en Florida, y aclara dudas actuales sobre permisos de trabajo, el 24 de abril y cambios en entrevistas de asilo. En este episodio hablamos de:  Caso real de la Junta de Apelaciones (Matter of RAU)  Por qué la credibilidad es clave en el asilo político  Errores comunes: contradicciones en testimonios y evidencia  Cómo preparar correctamente tu caso de asilo  Fraude migratorio en Florida y riesgos de “notarios”  Posibles cambios en entrevistas de asilo (participación virtual)  Actualización sobre decisiones de asilo afirmativo (casos de Venezuela)  Consejos prácticos para proteger tu caso y evitar errores Este contenido es informativo y educativo. Cada caso es diferente y se recomienda consultar con un abogado de inmigración.Chapters:00:00 – Introducción y temas del día01:07 – Noticia: caso de la Junta de Apelaciones02:19 – ¿Qué es “Matter of RAU”?04:43 – Caso ganado… y luego perdido en apelación07:06 – Importancia de la consistencia en el testimonio09:29 – Ejemplos de contradicciones en el caso11:50 – Errores en evidencia y testigos14:13 – Qué dice la ley REAL ID sobre credibilidad16:42 – Errores comunes al llenar el asilo19:06 – Cómo preparar correctamente tu caso21:32 – Fraude migratorio en Florida (alerta)23:54 – ¿Víctimas pueden calificar para visa U?27:16 – Cómo agendar consulta legal28:20 – Preguntas del público32:55 – Salida voluntaria y procesos en corte35:24 – Actualización sobre el 24 de abril43:26 – Posible cambio en entrevistas de asilo (USCIS)50:00 – Nuevas decisiones de asilo afirmativo (Venezuela)57:40 – Llamada en vivo: miedo, viajes y realidad migratoria01:04:30 – Mensaje final y reflexión  Contenido informativo general; no sustituye asesoría legal individual. 

Read more from VPM News:  Hanover planning commission recommends approving Mountain Road data center  Move away from 12-month model could leave Bellwood ES teachers without pay in July  On the agenda: Data centers, FY27 budgets and Richmond Diamond District    Other links:  Water restrictions in place for Caroline due to severe drought (WRIC) Conservation groups raise alarm as Potomac River named most endangered in the nation (Virginia Mercury) Broker charges CoStar with monopolizing online real estate market (Richmond Times-Dispatch)* Virginia Tech board changed bylaws to allow Rocovich to serve third term as rector; now he oversees presidential search (Cardinal News)  *This outlet uses a paywall.  Our award-winning work is made possible with your donations. Visit vpm.org/donate to support local journalism. 

Disturbing Katy Perry Sexual Misconduct Claims Resurface Amid Ruby Rose Scandal - Music Video Co-star Claimed Singer 'Pulled Down His Underwear Exposing His Manhood to Crowd'  Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Against a backdrop of economic uncertainty, geopolitical tensions and a sustained ‘Trump Slump' of declining international visitation, the substantial World Cup bump U.S. hotels were promised may not materialize, according to CoStar, the industry's leading benchmarking and analytics firm. By Suzanne Rowan Kelleher, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

Mak is confronted with the consequences of a prank that went a little too well. Alayna and Mak read each other's Costar charts. FOLLOW CHOSEN FAMILY TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@chosenfamilypod. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/chosenfamilypod/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Youtube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/channel/UC9WM_cdLWHtsCXLg3ygFiww⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. FOLLOW ASHLEY GAVIN  @ashgavs    TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@ashgavscomedy⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/ashgavs/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@ashgavs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/AshGavs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. FOLLOW ALAYNA JOY  @MissFenderr   YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/c/MissFenderr. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/missfenderr/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/MissFenderr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@missfenderr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. FOLLOW MAK INGEMI  @Makingemi   Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/makingemi⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@makingemi⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/c/Makingemi⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. JOIN OUR CHOSEN FAMILY PATREON ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/chosenfamilypodcast. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Watch our videos on YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@chosenfamilypod⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The real estate industry is being squeezed from both sides right now. This week on **This Week in Real Estate**, we're breaking down the collision between lawsuits, private listing wars, shaky consumer confidence, and a housing market that still can't find real momentum. From NAR's latest legal wins and settlement headlines to Compass' growing influence in key markets, this episode gets into what's changing, who it affects, and what it could mean next for agents, buyers, sellers, and brokerages. We'll also unpack the latest market data: mortgage demand, falling pending sales, rising monthly payments, record-level price cuts, builder sentiment, inflation pressure, and why so many Americans are starting to hesitate on major purchases. Add in the growing mismatch between who owns America's larger homes and who actually needs them, and there's a lot to talk about. In this episode, we cover: • 92% of agents say they plan to stay in the business even as sales remain near 40-year lows • NAR's Florida antitrust lawsuit dismissal and the new $52.25M buy-side commission settlement  • CoStar, Homes.com, and the latest power shifts in portal and industry battles  • New reporting on Compass, private exclusives, double-ended deals, and price discovery • Mortgage demand dropping, then mortgage applications rebounding as rates moved lower • A record share of sellers cutting prices • Pending sales slowing as high rates and global uncertainty chill the market  • The "empty nester vs millennial family" housing mismatch • Inflation, gas prices, job-security fears, and weakening builder confidence Whether you're a Realtor, broker, investor, homeowner, or just obsessed with where the housing market is headed, this is one of those weeks where the headlines actually matter. Subscribe for weekly real estate news, housing market analysis, mortgage rate updates, and honest commentary on the stories shaping the business.

The 2026 Hunter Conference in Atlanta Georgia was a major success! So many hospitality professionals and industry leaders converged to share insights, best practices, challenges, and strategies for the future.  The Suite Spot had the opportunity to attend the industry event and interview some of the best and brightest that hospitality has to offer. Tune in to this special episode to hear from executives, brand leaders, presidents, and more from some of the biggest brands in the hospitality industry.  Ryan Embree: Welcome to Suite Spot, where hoteliers check in, and we check out what’s trending in hotel marketing. I’m your host, Ryan Embree. Hello everyone. Ryan Embree here with the Suite Spot. Fresh Off the highly anticipated 2026 Hunter Conference, which certainly didn’t just fit the bill. Exceeded expectations. What an incredible event, what an amazing couple days in Atlanta, Georgia at the New and iconic Signia Hilton, Atlanta. There were powerhouse panels and education, incredible networking, truly defined. Their theme was The Home of Hospitality. Certainly hit that over that next those couple days there in Atlanta, Georgia, we had the privilege of covering the event. We have some exclusive interviews to bring you, which I’m so excited to share with you on this very episode today. We visited with our friends over at Newport Hospitality. We celebrated a milestone with Hospitality America. We checked in on the development side at PM Hotel Group and sat down with the brain leader of Graduate by Hilton to talk about that exciting brand and everything that they have cooking over there. Who also knows how to throw an incredible party, which they did in tandem with the Hunter Conference, with a ludicrous concert that capped off. And just, again, an amazing couple days in Atlanta, Georgia. We’re so excited to bring you these interviews, and we’re gonna be bringing it all to you here on the sweet spot. Thanks for tuning in. Speaker 2: Hello everyone. Ryan Embree here with the Suite Spot Live on location 2026 Hunter Conference. Excited to welcome in, Wayne West, the third president of Newport Hospitality Group. Wayne, thank you so much for taking some time. Wayne West III: It is a pleasure to be with you. It’s a pleasure to be here. Ryan Embree: Yeah, excited to be here. It’s a sleepy cold morning right now, but we’re warming things up here in Atlanta at the Hunter Conference. Tell us a little bit about your experience and, what do you think about the new location, the new digs? Wayne West III: The new location is great. We’ve been downtown at the Marriott for so many years. I think this is new. It’s fresh, it’s invigorating. It truly is. One of my favorite conferences. I mentioned to you, the Hunter Conference is a relationship kind of conference where you get to sit down and spend time with people one-on-one, whether it’s your brand, whether it’s other owners, whether it’s my peer group. So I enjoy this one a lot. Ryan Embree: I mean, it’s great because I think one of the things, you get a bunch of hospitality people in the same, in the same room. You start talking about some of the challenges that are starting to arise. And right now we got some headwinds, profit profitability, hotel margins, very slim, rising construction costs, operational costs. But you have a philosophy, control what you can control. How do you bring that philosophy to Newport Hospitality Group as we usher in 2026? Wayne West III: Number one, I have really good people. My colleagues are strong at my, my, my corporate level as well as the property level. You know, for many, many years the industry was, had a vibrant ability to drive RevPAR, and it seemed like it was increasing three to 5% every year that slowed down. We continue to push that where there’s opportunities, but what I think we do best and my operational team does best is control the big things. Control, cost, control your labor. We spend a great deal of time working on that every single day. We work with the leaders at the properties to make sure that we’ve got the appropriate, uh, levels of payroll and the appropriate levels of resources to the levels of business at the time. So I, I, I think a great deal. We’ve always spent time on that. But it’s even more and more important as your RevPAR may not be increasing as quickly as payrolls are. Ryan Embree: Yeah, absolutely. Operational efficiency, really, really key. Try to look for every inch that you can get right now. We had the opportunity to meet up with your COO Brendan McCoy at the Hospitality Show out there in Denver. He was talking about the growth of, of Newport Hospitality Group and was really focused in on talking about strategic growth with the right partners. What does the right partner mean to you? And you see opportunity out there. Wayne West III: I do see opportunity. We’ve recently taken over a hotel with the perfect partner, has a few hotels, but her focus wants to be on development. She is aligned with us culturally. She has the right kind of hotel. She maintains it well, but she thinks she can make more money developing the next hotel and is leaving operations to us. So the first thing we wanna do, we wanna make sure that we align philosophically with her vision, anyone’s vision of the hotel and how it’s gonna be operated, how we’re gonna treat the guest, the employees, and how we protect her asset and grow it and make it more profitable. But I think that’s the key thing, is aligning with a partner that aligns with your vision. Ryan Embree: Yeah. And that alignment is really can be found in rooms like this, right. At a Hunter Conference, when you’re networking, you’re having conversations over that because it is key, that alignment, making sure that you and the owner are kind of hand in hand, especially in a time where it’s a little bit challenging, looking for operational efficiency. A lot of people, subject matter topics talk about AI and technology, right. Trying to fill those gaps. Talk to me a little bit about the philosophy and how you approach AI and technology. Is it more about the guest experience or employee empowerment? Wayne West III: Let’s be honest, AI has been around a long time. If you go back to revenue management 25 years ago, instead of, you know, we started leaning into computers to do some of the analysis for us. So I think this matured over the year and it continues to evolve. And I think it’s evolved expeditiously over the last few years, right? We first used ChatGTP to help us write sentences, and now we’re analyzing data. I think we’ll continue to evaluate how to make us more efficient, but really more effective with the data. I think we need to make sure we’re not consumed by the data and ask AI to help us with the right questions and get the right data to make quicker decisions and better decisions. So I think we’re testing it today, all the different kinds of AI out there. We’re testing it in all the disciplines. We’re testing it in HR, we’re testing it in operations. We’re testing it in sales and marketing. We’re testing it in HR. So I think when you apply it to those and then see what bubbles up and see how, how, what best results you get. But let’s not be consumed by it. Ryan Embree: Yeah, absolutely. Wayne West III: Because you gotta take care of the guests first. Ryan Embree: 100%. And I think, you add those things up, you add those little gains up, that’s, and, and kind of take a step back and look. Now you become more operationally efficient. You control what you can control what you said, and hopefully improved your business there. But that’s great perspective to look back. ’cause you’re right, technology is no stranger to our industry. It’s been there just been maybe in a little bit different path. Wayne West III: We called it it something different. Truly it is intelligence that helps make us better. Ryan Embree: Yeah. Use it correctly. Love it. So, another thing we like to try to do at these conferences is look into a crystal ball. Try to predict the future, right? Everybody’s telling you what’s next, three, six months and down the line. What’s your vision? Maybe let’s start wide at the hospitality industry and then maybe you can dial it down from Newport Hospitality. Wayne West III: Again, I think I said it early, you know, we’ve been spoiled by the ability to grow our rates every year substantially. That’s slowing down. So we’ve gotta be smarter. I think a big opportunity is food and beverage globally from the, in, from an industry standpoint, I think doing food and beverage right drives preference to your hotel. I came up in the food and beverage world, and I think when select service hotels came along, we, we weren’t as good at food and beverage as we were 20 years ago. And we’ve let outside restaurants and bars wildly successful take a piece of our, our business. So I think we can do better if we would concentrate a little more on food and beverage, finding out what the guest really wants, needs and desires are when he checks into your hotel, and that that guest will come back. It will drive preference and it’ll drive RevPAR. So I wanna concentrate on that a bit. Ryan Embree: Great differentiator there for guests. Also attracting locals. If it’s a nice restaurant, you know, it’s your hotel restaurant isn’t of that of the same 40 years ago. Right? So, um, what about Newport Hospitality Group? Will you see the vision there? Wayne West III: We’ve got a couple letters of intent out today. Great brands, great owners. Two, were buying into one or actually purchasing a hotel. It’s the right hotel in the right location at the right time. We think we add some value by some additional sales and marketing that Whitney will do with her team. Whitney and Kirsten will do, whether it’s digitally or whether it’s just a different way of looking at our guests and attracting the guests. So we’re trying to find the major brands in our niche markets. Maybe we’re not in Washington DC but we’re in Frederick, we’re not in Jacksonville downtown, we’re in Jackson, the beach of Jacksonville. So we do really well in the secondary markets. We know, well, we’re in the south, we’re in the Northeast corridor all the way down from, you know, from Brooklyn, New York to Orlando, Florida. So we’re looking for that sweet spot, but I think many, as many companies are today. But we’re trying to identify that one that we can either reposition through some capital or reposition, because we’re just gonna take a different view of, uh, the revenue side of it. Ryan Embree: Well really appreciate you taking some time and stopping by Wayne. So thank you so much for having being on the Suite Spot with us. Wayne West III: Good to be with you, Ryan. Nice to meet you. Thank you very much. Ryan Embree: We’ll talk to you next time. Ryan Embree: Hello everyone. Ryan Embree here with the Suite Spot. Live at the 2026 Hunter Conference here with Ben Campbell, CEO and President of Hospitality America. Ben, thanks so much for taking some time to speak with us today. Ben Campbell: Absolutely. I appreciate the time, Ryan. Ryan Embree: It’s a cold, sleepy Atlanta morning. Very cold outside. But the, it’s warm and hot energy in here. We got some panels, we got some networking going on. There was some great activations and programmings last night. First time here at the Signia Atlanta. You’ve been to Hunter a couple times. What does a successful hunter look like to you and what do you think about the new location? Ben Campbell: I love the new location. I love the marquee. I love the historic nature of it. And, and we all got used to, to the marquee and then the multi-level there. Um, here, I got here early just to figure out where everything was, uh, this time to know where I was going. But, um, what a hunter success, success looks like for us is really extending relationships, making new relationships, and then getting outside of our echo chambers of our companies or our hotels and talking to other people and seeing what they’re seeing, what’s happening with the industry, what are people looking to invest in, where do they think it’s going? You know, got to listen to Chris Nassetta, uh, CEO of Hilton yesterday and provided us with some, his insight and, which was great takeaways that we’ll be able to take back to our company and make decisions. Ryan Embree: Some really cool announcements you typically get at these shows feels like a new brand’s popping up every single day in hospitality, but it is, you’re absolutely right there, I mean, you get a bunch of hospitality people from different markets in the same room, and all of a sudden those challenges start to arise and bubble up a little bit and maybe some innovative solutions outta that. But 2026, obviously a massive year for Hospitality America, 30 years. Congratulations to that. When you hear that, Ben, you know, as CEO and President, what does that milestone and chapter mean to you? Ben Campbell: Me, personally, first, it’s an honor that I’m able to be the CEO of a 30 year company and take it into the next 30 years. When I look back, it’s really about, legacy and consistency. And so for a company to get to 30 years and, and we have some contracts, we have two contracts that are 30 year contracts for us and clients. And so, you know, it’s a lot of work to, to maintain that. But it’s also a real testament to our founder Chris Cargon. It is the legacy that he has left behind and that he has poured into this company that now I have the honor and the rest of our team and, and employees have the honor of taking that into the next level. Ryan Embree: It’s so cool to hear that, to hang your hat on a story of three decades worth and to usher in this new, this next 30 years first. So congratulations there. Obviously lots change in hospitality in 30 years. I’d say lots change in the last five. And we might be at a inflection point here with everything around AI and technology, which we’re gonna speak to in a second. But what do you attribute to that longevity and success of Hospitality America and this company? Ben Campbell: We boil it down to three different things. So we have what we call the HA Promises. We have three stakeholders that every single day we wake up and we say, are we delivering the promise to our owners, to our team members, and to our guests? So everything that we do, we boil it down into those three pillars and say that every guest comes to our hotels and we have, we’re making promises to them that we have to deliver. Same with our team members, and definitely to our, our owners. And so I think it’s through that lens that we’ve been able to have a 30 year career and knowing that really we’re here to service the guests and we’re also here to service our clients, which is our owners, and deliver on those, perform, deliver the metrics and the performance that they expect and that ultimately we said that we would do and that we are delivering on. So, that’s why I say it’s really the consistency of the company. Also I think, you know, we’ve been scaling at, at a good rate, but it’s been very strategic in how we do it. And so we have 30 year relationships. I don’t want to take on anything that’s gonna put that in jeopardy. Swo we’re very selective on who we bring in and knowing that, okay, I can be very successful with this for this owner, and we’re building a great relationship. Ryan Embree: Yeah. We’re hearing that right now, more and more, not just looking for growth, but that strategic growth for the right partners. So key right now, especially in a challenging environment where margins, profitability hard to come by right now. But another place that Hospitality America has received some recognition recently is around its people, uh, which is, you know, the USA today recognized as top workplace for two consecutive years and top workplace for frontline workers. I think, you know, you come to a conference like this, obviously the big notes are about the AI technology, but how have you invested in people and seen those dividends pay off? Ben Campbell: Yeah. When I came under leadership of the company in 2022, that was a big focus of mine because we were having to rescale the company and really look at the industry and everybody was fighting for the same talent in the same talent pool. And so, like, again, the legacy of Chris Cargan, we said, we need to really define what that looks like objectively on who we’re bringing into the company. And so we boiled that down to our core values, which is outlined as a, uh, acronym P.E.A.C.H. Passion, excellence, adaptability, community, and humble. And so when we seek that talent, they know what they can expect from us, and we can tell them, this is what we expect from you. And when doing that, we’re holding everybody accountable. And so everybody, then we can say, okay, this is who we are. Peach. What we do is the HA promises. Ryan Embree: So everybody can strive to meet those metrics for the owner, each other as the team members and and our guests. And by holding that accountability training toward that accountability, and then everybody’s on the same page, that’s really what I think gives us the recognition. Last year when we did that survey for USA today. Really proud to say that 90% of our 850 employees responded to the survey. So just getting that type of engagement of completing the survey was a big win for us. We might have some exciting news come out by the time that this podcast dropped. Ryan Embree: Alright, well, we’re excited to hear about it, Ben. And congratulations to you and your team again. The conversations that I’ve had with industry leaders, those strong management companies have that kind of north star that you’re talking about. It looks like you have those two and those that, that culture that you’ve created over there, obviously the 30 years incredible milestone. Typically a time for reflection in looking at the legacy in the past, but also looking towards the future. That’s what you typically do on those big anniversaries. So what is the vision for the future of Hospitality America look like for you, Ben? Ben Campbell: Vision for us is still growth. Um, there’s a lot of opportunity out there. Uh, again, I think that, you know, how we do that is, is maybe a little different than we have. Um, we have two great relationships. Like I said, today we operate for five different ownership groups. We will expand some of that, uh, but we’ll also look at expanding through acquisitions. We, we’ve historically grown through development through our partnerships. Um, and so there might be a lot more acquisitions. I think right now when you look at the industry and the values of these assets, you know, the replacement costs, a lot of times you can get into an acquisition that much less than it would be to, to replace that. So I think a lot of that is what we’re hearing at Hunter as well. Um, a lot of owners are feeling that we are feeling that as well. Um, and so there’s some great assets that are coming onto the marketplace that I think three or four years ago wouldn’t, back to your question on what we see for the industry. I think the, you know, we, yesterday you heard Christmas set us say that bifurcation of the cake shape economy is gonna be coming together. I agree with that. I don’t think it’s gonna stay that way forever. Um, I think that the top end has just had a lot more cash reserves that they could bleed off over time. Yeah. The middle market is generally where we’ve, uh, been really, really well. And the Hampton ends, the Fairfield ends the, um, and then higher up we do tapestries and we have a motto and tribute and things of that nature. I think that’s where the industry is going. From an experience side, yes, they want a curated experience and a very intentional experience, but also they want to know what they’re gonna get to. So I think that’s where we are right now. We’re kind of feeling those effects of, okay, we’re, you know, we’re curating the experience, but it may not be taken to that next level. And I think that’s where we need to continue to elevate and continue to spend our dollars to ensure that when the guests show up at the Signia or one of our hotels, like a tapestry or the motto of Bentonville, they walk in and they’re blown away that by the experience because they can tell every single detail is thought through. Ryan Embree: Yeah. It’s very cool to see the experiential travel really blow up right now. Guests loving that, but looking for that consistency, like you said, every guest wants that unique experience, but they do want it at a consistent level too, of, of meeting or matching their guest expectations. So Ben, thanks for taking some time, uh, to speak with us. Congratulations on all the milestones and we’re gonna look, uh, for that news that you were sharing. Ben Campbell: I appreciate it. Ryan Embree: Thank you so much. And, uh, we’ll talk to you next time on the Sweet Spot. Ryan Embree: Hello everyone. Ryan Embry here with the Suite Spot live on location at the Hunter Conference 2026 in Atlanta, Georgia, here with Paul Sacco, Chief Growth and Development Officer at PM Hotel Group. Paul, thank you for taking some time. Paul Sacco: Thanks for having me. Ryan Embree: Excited to talk about this. We’re the new venue. Uh, you visited the Hunter Conference before. How does this compare and, and what does success really look like for you when you leave Atlanta here? Paul Sacco: Yeah, I think it’s been a great conference. Perhaps a little hiccup with some of the weather Sure. And people getting in. But I think Teague and League and the team at Hunter have done a great job, really producing a terrific conference. And it’s really well attended now. So we’ve had great experience so far in terms of what does a good conference look like? To me, it’s all about connections. So it’s all about making sure that when you come to a conference like this, sure you have meetings scheduled for deal advancement on projects, you’re working on relationship building on some of the new relationships that you are building upon. And that that’s structured, but also that you leave plenty of time to walk the floor because inevitably you’re running into people that you share common stories with, you’re connecting with maybe there’s some things to do with, and it’s just great ’cause our business and our industry is really all about connections. Ryan Embree: That’s how, that’s where it’s built. It’s a big little world hospitality run into a lot of people. And when you get a lot of hospitality people in one place, they’re gonna start sharing best practices and maybe some of the challenges that they’re having right now. Absolutely. Especially with margins, uh, profits, people are looking out for that edge to figure out what’s next. Where do you think there’s opportunity when you kind of see the landscape right now? Is it a particular region, a segment that you like? Paul Sacco: Yeah, so we operate in full service and toward luxury segment as well as select service and then independent and boutique. And we all hear a lot right now about luxury and leisure leading the way. And we hear a lot about mid-scale extended stay and extended stay generally leading the way. And we’re in those categories. I also think there’s really good opportunity if you are thoughtful about the, the possibilities thoughtful about the deal in urban markets, on core branded hotels. I think there’s still some really good opportunity. You have to be thoughtful about your basis and about what the demand drivers are. But I think there’s some future opportunity in the near term there. I think there will be transactions that start to happen more. We’re starting to see some more pip pressure now from the brands. We’re starting to see some more lender pressure. I think the period of extend and pretend is perhaps coming to an end. Yeah. And there’ll be some transactions that occur out of that. We’re seeing more marketed deals as well come across. And I think that’s been across segments. Fortunately for us, we’re really focused in on each of those three segments as a company and we can capitalize on the right opportunities. Ryan Embree: And that’s where those strong connections come in to make those deals move across the finish line at the end of the, the day. Absolutely. Now PM Hotel Group, you talked a little bit about it, but it’s a competitive landscape out there. Where do you find opportunity to differentiate yourself from other management companies? Paul Sacco: So it is a competitive environment for sure. We’re a top 15 management company now. We do not have any particular goal or pressure to be a certain number of hotels. That’s really meaningful on two fronts. One, it means we can grow smart and do deals that make sense for our company, deals that make sense for the owner in terms of using our operation makes sense for our team. And secondly, it’s really important because it, it allows us to remain accessible to ownership at the highest levels of our company. So we always say that if there’s ever a time where an owner can’t call me or Joseph our president or others in our company and get a response that day, then we’ve grown too big. And that’s really important to us. And since we’re an independently owned company and we’re not private equity owned, we’re not public, we don’t have any of those quarterly quote unquote nug pressures to grow. We can be really thoughtful and strategic about the deals that we do and the owners with whom we’re working and remain accessible to them. Ryan Embree: Well it puts you also in opportunity to kind of maybe be first in line when a new developer or owner wants to go a certain route. You’ve got kind of the story to tell them and and share with them. Paul Sacco: We hear it a lot in reality. We are of the size and scope that our senior team remains very accessible to ownership groups, to asset management groups, et cetera, based on the size and nature of our company. I think there are some others who can say that as well. And there’s some others who are a lot larger and it just maybe just makes it more difficult to do that as effectively. Ryan Embree: Definitely. Now another topic on everybody’s bingo card here. Conferences like this is AI and technology, right? So what’s the philosophy over at PM Hotel Group? Are you guys using anything on the development side and how do you utilizing it? Paul Sacco: Yeah, I think there are some really good tools within ai, even just using ChatGPT and Gemini in order to do market research, really market assessment tools. And that’s a great way to get highlight overview of what’s happening in a market if you’re looking at a new deal, if you’re traveling to a market, a good way to gain sort of initial information and a feeling for what’s happening in a market from a development perspective. Now we tend to dive in deep and back all that up as we advance with some really good formats like CoStar and some others that are out there that help us really assess a deal and assess our business. So on the development front, I think that’s how we’re approaching things on the operating front. I think AI will continue to evolve in a way that it helps, makes operations more efficient, whereby there can be data assessment on check-ins and checkouts, which can help with labor and staffing needs and assessing those types of things. And then of course, on the commercial side, really harnessing the way that people are doing intent-based searches now. Because people will go into ChatGPT or Gemini and they’ll put in an intent-based search. We find a lot that our independent and boutique hotels come up in those searches. But how do you capitalize upon that and how do you harness that in a way to turn it into reservations? Ryan Embree: Absolutely. Everyone looking for that edge right now, right? Like I said, to combat those margins right now, which are challenging in your position, you’re always looking for the next opportunity, the next deal. What’s your vision for PM Hotel Group as you grow into the back half of the 2020s? Paul Sacco: So again, we’re a privately owned company and we grow very strategically. We’re not under any certain pressure, again to have a certain quote unquote nug. So that’s been very effective for us and we’ve been really thoughtful about the owners that we’re doing deals with, the types of deals that we can operate. Effectively key for us is that we’ve done a couple of small strategic partnerships, siteline a year or so ago, modus by PM Hotel Group before that. And the combination of that has put us into all these different segments that we just discussed. But it’s put our reach from Hawaii to California to the mountain states, all the way to the East Coast with different types of products. So we can really capitalize on that and harness the fact that we have coverage and reach in a lot of different markets and market knowledge. So I think for us it’s just about growing smart. It’s about putting a lot of effort behind commercial and technology. We’re, we’re making a lot of investments in that space right now so that we are out ahead of AI advancement and technology advancement. And we’re even in a sort of muted RevPAR growth environment now we’re focused on RPI. And we’re focused on TRevPAR and making sure that operationally and top line wise, we’re getting more than our fair share. Ryan Embree: Awesome. Well, Paul, congratulations to you and your team. We’ll continue to keep a close eye and we’ll let you get back in there. And for all the good stuff, the Hunter Conference has to offer. Paul Sacco: Thank you. Ryan Embree: Thanks Paul. Ryan Embree: All righty. Hello everyone. Ryan Embree here with the Suite Spot live on location at the 2026 Hunter Conference here with Parker, Graduate by Hilton Brand Leader. So excited. I love this brand, it’s very exciting. But before we get talking about your brand, talk to us a little bit about your brand, where you came from and your history here in hospitality. Parker Henderson: It’s fun. Actually. We’re here in Atlanta. This is where I was born and raised. My parents met working for Delta Airlines, so I grew up traveling. Dad worked for Delta for 32 years. And so grew up traveling. And when I got to college, I knew that was something I wanted to major in. Went to Appalachian State University, majored in hospitality tourism management. Worked at the front desk of Comfort Suites when I was in Boone, North Carolina. And then did my internship. And I had a great professor who I was like, I’ll just do my internship and here I’m at already at the hotel. No big deal. He was like, no, you need to go somewhere. You need to do something. And so, Pinehurst Resort in North Carolina, they were interested in me. So I did my internship. There happened to be the 99 US Open, everything went really well there. Came back as a manager in development and I was with ClubCorp, who owned Pinehurst for about five years. They moved me to a location in Austin, Texas. Stayed there for a while. Resort Company wasn’t really growing. And meanwhile this beautiful 31 story Hilton was being built in downtown Austin. And I remember seeing that and it’s like, I want that. And I was always in front office operations, so I was able to join the Hilton Austin as assistant director of front office. And that was in November of 2003. And I’ve been with Hilton ever since on property roles for about a decade in San Diego, Baltimore, Orlando. And then joined the corporate front office team in 2012 where I focused on front office operations, efficient use of our property management systems, which are proprietary to Hilton, and then was able to work and get exposed to the brand side and then joined Embassy Suites brand in 2021 and just love that world. Also during the pandemic, my pandemic fun was getting my master’s in hospitality from Virginia Tech. They had a campus in the DMV area up in DC and fall of 2020, I became an adjunct professor in that program. So continuing to do that, I’ve always believed in the power of that intersection of hospitality and education. So when Graduate came through in 2024, I was the first one to raise my hand saying, okay, I’ve got the brand experience, I’ve got the university passion. And so it’s been a great experience since then. Ryan Embree: That’s so cool, Parker. And you know, we were talking about this, I’d love to hear those stories of people that went to school for hospitality and now look at you, you’re on the other side of the desk, you’re, you’re the teacher and, and you know, influencing the next generation of hoteliers, which is so cool. So obviously college and universities have, I’m sure you don’t get tired of talking about those never, especially in your position. But for those who maybe aren’t as familiar with Graduate, talk to us a little bit about that brand, maybe a little bit of a story as well. Parker Henderson: Absolutely. So Graduate Hotels was created in 2014 by AJ Capital. They found that there was great opportunity to have upper upscale position, lodging, bespoke design in these hotel, in these university markets. And it’s been a great success. They started with just one or two properties. They grew to 34-35 properties and then Hilton acquired them in spring of 2024. Since then, they’ve all come into the Hilton ecosystem, 35 assets total currently. And so they’re live with Hilton Honor, they’re live with all of the team member perks with Go Hilton and everything that you expect. But also they’re tied into all the benefits of being Hilton, Hilton Worldwide Sales, Hilton Supply Management, Hilton University, all the training programs. And so the hotels have done a great job of kind of onboarding, keeping the authenticity that makes graduate special while using the engine and all the power that comes with the distribution network of Hilton. Ryan Embree: It’s so cool to hear. And you know, when I think about people and their universities and their colleges, passion is the first word that comes up. And to marry that with your brand and people are also passionate about travel. That’s such an exciting, probably space to be in. And the fact that you, that you get to talk about, these projects and here we are in Atlanta, a very cold unseasonably cold day here in March. But you know, we’re at the Hunter Conference talking to investors, owners, developers. You’re having these conversations. What do owners and developers get excited about when you’re having conversations about your brand? Parker Henderson: The passion, like you said, there’s such storytelling and such a passion to tell a story either about some where somebody lives currently, where their alma mater is, or maybe if they didn’t go to college or university where they were in that youthful optimism phase of kind of the late teens, early twenties, where you really don’t know where your path is and it’s just kind of starting and being able to bottle that up and put that into a project. That’s what gets people excited. The fun part is that the product is so special, it’s so bespoke at each university, at each college town, but they perform wonderfully. We, we have above market performance and revenue and occupancy and we continue to capitalize on those high impact times, home football games, move-ins, graduation, all of that type of stuff. But also with the Hilton system, we’ve been able to expose them to so much different areas of business, whereas they may have had to rely on online travel agencies In the past a lot we’ve been able to kind of broaden that to introduce more business travel. We’ve been able to work with Hilton Worldwide Sales, get more groups, meetings and events into the hotels. The average Graduate hotel is 167 keys and about 4,000 square feet of meeting space. Now with the 35 hotels, that varies greatly. Some are small as 70 keys. Some are as big as 304 keys. Some have zero meeting space. We’ve got one with over 23,000 square feet of meeting space. So there’s a lot of variety there. But all of them can play into the different mix of business that Hilton Worldwide Sales promotes. Ryan Embree: Well, it’s incredible ’cause you know, none of these properties are the same because probably none of these universities are the same. None of these markets are the same. So I’m sure it’s a passion project again, but also creating these memorable experiences around those really cool times and being able to tie your brand in there definitely means something special. Now you have a couple projects, special projects that you’re working on right now. Talk to us a little bit about those and, and maybe that differentiation between them. Parker Henderson: Sure. With the development side, as soon as Graduate came into Hilton became a brand that we were able to franchise. So we have been working with our development committee, that’s why we’re here at Hunter Investment Conference. But we’ve got about 60 different deals in various forms of negotiation. We’ve got a number of deals signed that we’re excited to work on. I’ll highlight kind of four ’cause I feel like they tell a good story. We’ve got Flagstaff, Arizona, that’s gonna be by Northern Arizona University, brand new build, new to Hilton owner. Very exciting project that’s gonna do some amazing storytelling about Route 66, about Northern Arizona University and just the Flagstaff community. You’ve got Boulderado, a historic, a hundred and something year old asset in downtown Boulder, right by UC Boulder. This is gonna become a graduate by Hilton Hotel. This is funded by AJ Capital. They own that. So that’s showing continued interest in the founder of the brand into Graduate by Hilton, which is something that means a lot to me. It means that we’re protecting the brand in, in meaningful ways. We’ve got Graduate Laramie that’ll come online by the University of Wyoming. This is an existing Hilton Garden Inn that’s reaching the end of its term with that project. And we’ll transition and go through a painstaking renovation to tell the cowboy story of the University of Wyoming. And that’ll open as Graduate Laramie. And then in New York, we’ve got Graduate Syracuse. This is actually owned by Syracuse University. This is the institution building something, 200 keys from the ground up. It’s gonna be absolutely spectacular there. Ryan Embree: I can talk to you about each one of these projects and which makes them so unique and, and that’s again the cool part, probably why both the owners and developers love it. Guests love it as well. But let’s get to know you in the portfolio a little bit more intimately. So let’s talk about maybe one of your favorite views on one of your properties. Parker Henderson: There’s a lot. So Graduate East Lansing, east Lansing, Michigan, Michigan State University, if you look out any of their front side windows, you’re looking right into kind of the arboretum of Michigan State University. It is gorgeous rooftop of graduate Auburn, Alabama. If you stand at the War Eagle Supper Club on the roof of Graduate Auburn, you’re looking directly towards the scoreboard and the stadium at Auburn University. Yeah, it’s fantastic. Gosh, there’s so many different ones. I could, like literally, even in Princeton, you’re looking down the street, down Nassau Street towards the gates of Princeton. You’re the fun part about these properties. And I’ve been able to go to all 35 locations both in the UK and the US. And the great thing about them is the location. Most all of them are at the intersection of Maine and Maine. They’re all walkable to campus, no further than about a mile away from the university they are next to and surrounded by the most popular restaurants, bars, shopping, points of interest, the museums, whatever it may be, they’re in the heart of it. All Ryan Embree: Such tradition rich places and spaces that these properties are located in tells a an amazing story. And sure, your guests get to be a part of it, which is really cool. What about signature dish maybe or a local tradition or something like that? Parker Henderson: So all of our restaurant, or excuse me, all of our hotels have a breakfast. Usually that’s kind of a cafe with a barista led concept. Many of those go by the name of Poindexter Coffee. So we have about half the brand that have a Poindexter coffee. Those are phenomenal in themselves. Then in the evenings we require hotels to have bar and dinner at all their locations. One traditional dish may sound basic, but it’s so good. We do a really great smash burger in fries, and that’s something you can find at almost all of our locations. Just a really good smash burger. Ryan Embree: Very cool. Well, you know, and I didn’t prep you for this one, but what about if there’s, is there anything, I mean, because obviously colleges and universities that they’re, they have a lot of, sometimes quirky traditions that, that are in the area. Are there any hotels or properties that have any of these local traditions or anything like that? Ryan Embree: Well, the storytelling, storytelling is one of our values at graduate and all of our hotels portray storytelling. We use maximalist design, we use layering of story upon story, but I think one of my favorite ones I was speaking about graduate Princeton, their headboard, if you’ve ever looked at a picture of graduate Princeton, their headboard looked like these hand carved canes and they’ve got like etchings in ’em and all different kinds of things. And I remember asking the general manager, Michael, it’s like, what is this? Why does it look like hockey sticks above my bed? He’s like, well, back in the 1860s, students used to hand carve their own canes and walk around campus and around the 1860s the upperclassmen decided, nope, the freshmen shouldn’t be allowed to carry those. So they would like beat them with their sticks and, you know, not allow the freshmen to carry them around here. So now that does not continue, but it’s now kind of an intramural fall sports festival every fall for called the Canes Prix. So it’s one of those traditions and one of those stories that you walk in and any Princeton student or alum would get that immediately. Yeah. But from somebody who went to Appalachian State would never have heard of that, it would never have known that tradition if it wasn’t for that quirky headboard. Ryan Embree: And there’s that special connection with the guest that is, that knows that, but also the guests that maybe not like, well, what I’m learning about right now, love that tradition. Like that’s very, that’s some cool history, you know, associated with the property in the university. So obviously a lot of growth. You just talked about the pipeline for this brand, but what’s as brand leader, what’s your kind of vision for the next, you know, three to five years for for Graduate by Hilton? Parker Henderson: Absolutely. We’re looking at kind of making sure that everything within the hotels we’re optimizing as much as possible. So I always love to base everything we do on our values. Our motto at Graduate is we are all students. Our values underneath that is what is fearless hospitality? We’re curious. We’re unapologetically unique and we’re storytellers. And so with that just kind of capitalizing on that and moving that into just grow within the next few years we’ll have several new openings. We’ll have more announcements to share on that. Ryan Embree: Awesome. Well, we’re excited. We’re gonna keep a close eye on the graduate story and yeah, we’re excited to thank you for stopping by and talking to us. Parker Henderson: Absolutely. Thank you for having me. Ryan Embree: To join our loyalty program, be sure to subscribe and give us a five star rating on iTunes. Suite Spot is produced by Travel Media Group. Our editor is Brandon Bell with Cover Art by Bary Gordon. I’m your host Ryan Embree, and we hope you enjoyed your stay.

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