Podcast appearances and mentions of Lawrence Yun

It's Wednesday, July 15th, A.D. 2026. This is The Worldview in 5 Minutes heard on 140 radio stations and at www.TheWorldview.com. I'm Adam McManus. (Adam@TheWorldview.com) By Jonathan Clark and Adam McManus Pakistani Christians targeted in absurd blasphemy cases Most blasphemy cases in Pakistan in recent years were fabricated. Officials admitted this to a parliamentary committee last week. Christians were among the people targeted in the hundreds of fabricated cases.  The country's blasphemy law criminalizes insulting Islam. People often use the law to target religious minorities like Christians. Just last week, a Pakistani court acquitted a Christian man in this kind of case. Thirty-seven-year-old Dennis Albert had spent two years in prison over false accusations.  In Matthew 5:11-12, Jesus said, “Blessed are you when they revile and persecute you, and say all kinds of evil against you falsely for My sake. Rejoice and be exceedingly glad, for great is your reward in Heaven, for so they persecuted the prophets who were before you.” British island legalizing assisted suicide The British Channel Island of Jersey is legalizing assisted suicide.  The self-governing island is under the British Crown. Jersey received Royal Assent for its so-called “Assisted Dying Law” last week. Once the law takes effect, the territory will be the first place in the British Isles to legalize such killing. Other jurisdictions in the British Isles are also trying to legalize assisted suicide. These include the Isle of Man as well as England and Wales.  Arkansas: Best state for religious liberty; New York is the worst First Liberty released its 2026 Religious Liberty in the States report. The index ranks states in America based on how well they protect religious freedom.  Only Arkansas and Tennessee received excellent scores on the index. New York and Vermont scored the worst. The majority of states scored below 50 percent on the index.  Arkansas' Republican Governor Sarah Huckabee Sanders spoke at a press conference after her state won the highest score on the index. Listen. SANDERS: “Jesus commands us to live out our faith boldly. The Constitution protects our rights to do so. In this administration, we don't just believe that Jesus is our living hope. We will always stand up for the rights of Arkansans who believe the same. “I want to thank First Liberty for recognizing Arkansas's work and for honoring us with this ranking. It's something we are very proud of and we will continue to make sure we stay number one.” Michigan pro-life groups will not be compelled to hire pro-aborts A federal judge ruled in favor of pro-life groups in Michigan last week.  A state law would require pro-life organizations to hire pro-abortion employees. Right to Life of Michigan and Pregnancy Resource Center challenged this law in court. The recent ruling blocks Michigan from enforcing the law.  Amber Roseboom, president of Right to Life of Michigan, said, “The court's decision is a welcome reprieve and reaffirms our fundamental right to hire employees who agree with our life-affirming mission.” New law will make housing more affordable The 21st Century Road to Housing Act became law in the United States. last Saturday.  The bipartisan bill is an attempt to make housing more affordable for Americans. White House Press Secretary Karoline Leavitt described the law on X. She said, “This bipartisan bill includes policies long championed by the President. It cuts unnecessary red tape, helps increase housing supply, and limits the ability of large institutional investors to purchase single-family homes.” Median home price: $440,600 In related news, home prices continued to rise last month. A report from the National Association of Realtors found that the median sales price of an existing home reached $440,600 in June. That's the highest on record.  Lawrence Yun with the National Association of Realtors noted, “Affordability is better than a year ago because wage growth is outpacing home price growth. However, progress on long-term housing affordability could be hampered if inventory growth continues to stall.” People who experienced heartache more likely to turn to Bible Last week, the American Bible Society released the fourth chapter of its “State of the Bible: USA 2026” report.  The survey found that people who experienced a negative life event in the past year were significantly more likely to be Bible users than those who had not experienced that challenge. Such challenges included divorce, natural disaster, life-threatening illness or injury, death of a close friend or family member, and unemployment. The report noted, “Amidst hardships, those who regularly engage with Scripture maintain significantly higher flourishing scores.” In John 16:33, Jesus said, “These things I have spoken to you, that in Me you may have peace. In the world, you will have tribulation; but be of good cheer, I have overcome the world.” Worldview listeners weigh in from Kansas, Washington, and Indiana Susan Tarwater in Hoyt, Kansas, wrote me and said, “I do not watch television. So, I depend on The Worldview as a shortened version of important news I need to hear. Especially news that a Christian needs to be aware of without all the glitter.” Tom Lister in Spokane, Washington wrote me to say, “Adam, I listen to your broadcast every weekday morning. I especially like how you keep us informed about the church, the persecution of many, and how, in many places, the church is slipping into apostasy. I also appreciate how you always end on a very positive outlook. Keep up the good fight! I'm a monthly supporter already but might be able to increase the amount.” And Melinda Johnson in Indianapolis, Indiana, wrote, “I've been listening to and reading The Worldview for several years now. My favorite part of the news is hearing about different stories that are not reported by mainstream media -- things like persecuted Christians, updates on abortion, how the Gospel is impacting the world, and issues affecting the conservative Christian movement. “The Worldview is quite different than any other news, even Christian sources, that cover the regular news. Your newscast brings up topics that help me know what to pray for in the world. You and the team are continuing in a great work!” 3 Worldview listeners gave $205 And finally, on Tuesday by 6:00pm Central, only 3 Worldview listeners stepped up to the plate and invested their treasure to fund the six-member team behind The Worldview for another year Our thanks to Teresa in Haverford, Pennsylvania who gave $5 as well as Lawrence in Lynchburg, Virginia and Gary in Westminster, Colorado – both of whom gave $100 Those 3 gifts add up to $205. Ready for our new grand total? Drum roll please. (drum roll sound effect) $24,008 (sound effect of people cheering) That means we need to raise a sizeable $32,557 in just three days to hit our $56,565 goal by this Friday, July 17th.   Listen, if you have been a monthly donor from a previous year, and you intend to continue with your monthly donation, please email me to let me know, so that I can add your generous help toward our total. And if you would like to make a one-time donation today or start a new monthly pledge, please go to TheWorldview.com, click on Give, select the dollar amount, and make sure to click on the “recurring” button if that's your wish. If everybody does something, we can reach our $123,500 finish line to fund this upcoming year. Go to TheWorldview.com, click on Give. Close And that's The Worldview on this Wednesday, July 15th, in the year of our Lord 2026. Subscribe for free by Spotify, Amazon Music, or by iTunes or email to our unique Christian newscast at www.TheWorldview.com. Plus, you can get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

Jason Hartman discusses the enduring stability of income property as a premier asset class. He highlights updates to his Property Tracker software, which now integrates real-time inflation data and calculates suggested cash reserves to help investors manage risk. He critiques the reliability of official CPI figures, arguing that higher actual inflation creates significant wealth through inflation-induced debt destruction. Jason also shares a personal anecdote about shutting down his Bitcoin miners due to unprofitability, using the story to warn against over-diversification in unproven assets. He then welcomes Lawrence Yun, the Chief Economist for the National Association of Realtors, as he provides a comprehensive update on the current state of the U.S. housing market. Yun highlights a significant "slump" in home sales volume over the last four years, even as property prices remain at record highs due to an estimated shortage of four million homes. The discussion covers how high mortgage rates and tax policies like capital gains are freezing inventory by discouraging homeowners from moving. Despite these challenges, Yun remains optimistic, citing strong job growth and potential interest rate cuts driven by future technological productivity as catalysts for a multi-year market recovery. He concludes th at the market is finally turning a corner, with pent-up demand likely to drive increased activity through 2026.   PropertyTracker.com http://empoweredinvestor.com/   Key Takeaways: Jason's editorial 0:00 Bitcoin miners and focusing on making money 9:34 Upgrades to PropertyTracker software   Laurence Yun interview 20:48 Update on the housing market 26:19 Rising house prices and the coming equilibrium 32:39 Job market and housing demand 40:25 Kevin Warsh and the economy 44:03 Capital gains tax and housing supply 50:29 Housing demand 54:32 The new housing bill 57:30 Market forecast      _______________________________________________________________   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Jason Hartman discusses the enduring stability of income property as a premier asset class. He highlights updates to his Property Tracker software, which now integrates real-time inflation data and calculates suggested cash reserves to help investors manage risk. He critiques the reliability of official CPI figures, arguing that higher actual inflation creates significant wealth through inflation-induced debt destruction. Jason also shares a personal anecdote about shutting down his Bitcoin miners due to unprofitability, using the story to warn against over-diversification in unproven assets. He then welcomes Lawrence Yun, the Chief Economist for the National Association of Realtors, as he provides a comprehensive update on the current state of the U.S. housing market. Yun highlights a significant "slump" in home sales volume over the last four years, even as property prices remain at record highs due to an estimated shortage of four million homes. The discussion covers how high mortgage rates and tax policies like capital gains are freezing inventory by discouraging homeowners from moving. Despite these challenges, Yun remains optimistic, citing strong job growth and potential interest rate cuts driven by future technological productivity as catalysts for a multi-year market recovery. He concludes th at the market is finally turning a corner, with pent-up demand likely to drive increased activity through 2026.   PropertyTracker.com http://empoweredinvestor.com/    _______________________________________________________________   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Jason Hartman discusses the enduring stability of income property as a premier asset class. He highlights updates to his Property Tracker software, which now integrates real-time inflation data and calculates suggested cash reserves to help investors manage risk. He critiques the reliability of official CPI figures, arguing that higher actual inflation creates significant wealth through inflation-induced debt destruction. Jason also shares a personal anecdote about shutting down his Bitcoin miners due to unprofitability, using the story to warn against over-diversification in unproven assets. He then welcomes Lawrence Yun, the Chief Economist for the National Association of Realtors, as he provides a comprehensive update on the current state of the U.S. housing market. Yun highlights a significant "slump" in home sales volume over the last four years, even as property prices remain at record highs due to an estimated shortage of four million homes. The discussion covers how high mortgage rates and tax policies like capital gains are freezing inventory by discouraging homeowners from moving. Despite these challenges, Yun remains optimistic, citing strong job growth and potential interest rate cuts driven by future technological productivity as catalysts for a multi-year market recovery. He concludes th at the market is finally turning a corner, with pent-up demand likely to drive increased activity through 2026.   PropertyTracker.com http://empoweredinvestor.com/    _______________________________________________________________   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Jason Hartman discusses the enduring stability of income property as a premier asset class. He highlights updates to his Property Tracker software, which now integrates real-time inflation data and calculates suggested cash reserves to help investors manage risk. He critiques the reliability of official CPI figures, arguing that higher actual inflation creates significant wealth through inflation-induced debt destruction. Jason also shares a personal anecdote about shutting down his Bitcoin miners due to unprofitability, using the story to warn against over-diversification in unproven assets. He then welcomes Lawrence Yun, the Chief Economist for the National Association of Realtors, as he provides a comprehensive update on the current state of the U.S. housing market. Yun highlights a significant "slump" in home sales volume over the last four years, even as property prices remain at record highs due to an estimated shortage of four million homes. The discussion covers how high mortgage rates and tax policies like capital gains are freezing inventory by discouraging homeowners from moving. Despite these challenges, Yun remains optimistic, citing strong job growth and potential interest rate cuts driven by future technological productivity as catalysts for a multi-year market recovery. He concludes th at the market is finally turning a corner, with pent-up demand likely to drive increased activity through 2026.   PropertyTracker.com http://empoweredinvestor.com/    _______________________________________________________________   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Have you ever wondered if anyone at NAR is actually paying attention to what's happening out here in the trenches? This one's for you.   We recently had the opportunity to visit NAR headquarters in Chicago for their inaugural Creator Summit, and we walked away genuinely surprised. Not in a cynical way. In a good way. The visit was so eye-opening that we knew we had to bring one of the people behind the shift directly to you.   In this episode, we sit down with Bennett Richardson, NAR's Chief Marketing and Communications Officer. Bennett came to NAR about nine months ago after more than 20 years working at the crossroads of tech, policy, and media — including big roles at Google and Politico. He was brought in as part of a leadership overhaul, and his entire focus is on strengthening the Realtor brand and rebuilding consumer trust. What struck us most about Bennett is that he is not a lifer from inside the real estate bubble. He came in with fresh eyes, asked hard questions, and immediately started listening. That energy comes through in every part of this conversation.   We cover NAR's new ad campaign, how your dues are actually being put to work, and why Bennett believes that no Realtor should wake up thinking about NAR — but that a whole team of really smart people is waking up every day thinking about you.   Here's what we cover in this episode:   - Why NAR launched the Creator Summit and moved away from the "influencer" label - How Bennett noticed that NAR was never part of the real estate creator conversation and what he did about it - The shift from "no comment" to fully open communication with the press and the industry - What the 150,000-member survey and dozens of focus groups revealed about what Realtors actually want - The Netflix analogy: how NAR is working toward smarter, curated communication so your inbox doesn't get buried - The "More Than Opening Doors" campaign, how it works, and how individual agents can actually use it - What "Realtor Studio" is and how it will give agents free marketing templates and tools - How NAR cut their email volume in half and still saw the same engagement - What modernizing NAR actually looks like and why it always has to ladder back to helping members grow their business - Bennett's message to every Realtor about where NAR is headed   Key Quotes & Takeaways:   - "We issued zero no comment responses when the press asked us about what's going on at NAR. Open for business, open for conversations — that is the posture I want us to have moving forward." — Bennett Richardson   - "It's very easy for big organizations, legacy institutions — and I think NAR did fall into this trap — where you think more about what we need to get out there, as opposed to what do our members need." — Bennett Richardson   - "We want every member to feel that for every dollar you put in of dues, you're getting 2, 3, 4, $10 back." — Bennett Richardson   - "We sent half as many emails as we had the prior year, but saw the same amount of engagement. All we lost was just clutter in people's inboxes." — Bennett Richardson   - "No Realtor should wake up every day thinking about NAR, but there's a whole bunch of really smart people waking up every day thinking about you." — Bennett Richardson   Products, People & Previous Episodes Mentioned:   - Bennett Richardson, NAR Chief Marketing and Communications Officer - NAR Creator Summit (Chicago) - NAR's "More Than Opening Doors" consumer ad campaign - NAR Realtor Studio (in development) - resources.realtor (NAR campaign hub) - NAR Annual Conference, New Orleans, November 6-8 - Episode 300: Dr. Lawrence Yun on the Housing Market (hustlehumblypodcast.com/300)   Want to toast someone on the show? Send us a voice or video message with your name, who you are toasting, and why! Email it to team@hustlehumblypodcast.com.   Leave us a review at http://ratethispodcast.com/hustlehumbly  

Everyone keeps asking the same question: are mortgage rates going back to 3%? According to NAR Chief Economist Dr. Lawrence Yun, don't count on it. In this episode, James and Keith sit down with Dr. Yun to break down what's really happening in the economy; from inflation and national debt to oil prices, global conflict, and consumer confidence. They unpack why rates are likely to stay higher than many expect, what that means for home sales, and how agents should be thinking about the market heading into 2026. If you're waiting for "the market to go back to normal," this episode will reset your expectations. Links mentioned during the show: Dr. Yun's content: https://www.nar.realtor/lawrence-yun First appearance on REIU: https://youtu.be/5iI-z7XTlaA   Connect with Dr. Lawrence Yun on LinkedIn.   Stay ahead of the market with insights from Zillow's Consumer Trends Report. This annual research breaks down what buyers and sellers are actually doing and what they expect from their agents.    With 55% of buyers being repeat buyers, yet only 13% using their previous agent again, the message is clear: past performance doesn't guarantee future loyalty. Even more telling, nearly half of buyers and over half of sellers hire the first agent they contact.    Today's clients prioritize pricing strategy, negotiation expertise, and a seamless, organized offer process. If you want to position yourself as the agent they choose in 2026, start with the data.    Explore the full report and put these insights to work in your business. https://bit.ly/4rDZg3M   Subscribe to Real Estate Insiders Unfiltered on YouTube! https://www.youtube.com/@RealEstateInsidersUnfiltered?sub_confirmation=1   To learn more about becoming a sponsor of the show, send us an email: jessica@inman.com   You asked for it. We delivered. Check out our new merch! https://merch.realestateinsidersunfiltered.com/   Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube, Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com.   Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod Link to website: https://realestateinsidersunfiltered.com This podcast is produced by Two Brothers Creative. https://twobrotherscreative.com/contact/  

In this April 13th, 2026 episode of Market Trends, hosts Steve Kaempf and Matt Lombardi discuss the latest U.S. housing market data. Key topics include a 3.6% drop in existing home sales, record-high home prices of $800,000, and tight inventory. Lawrence Yun revised his 2026 sales growth forecast from 14% to 4%. The episode also covers a March inflation surge driven by energy prices, a $52.25 million NAR settlement on buyer agent commissions, homeownership trends by occupation, the proposed Fast Housing Act, and Zillow's expanding pre-MLS marketing platform.Episode Introduction (0:00) March 2026 U.S. Housing Market Snapshot (0:39) Drivers of Market Trends (1:56) Home Prices and Equity Gains (2:52) NAR Forecast Revisions (3:42) Property Type Breakdown (4:39) Affordability and Mortgage Rates (5:31) Key Market Takeaways (6:16) Market Resilience and Professional Conduct (6:52) Inflation and Consumer Prices (7:46) Whiplash Economy and Outlook (9:19) NAR Settlement Agreement Overview (10:47) Settlement Details and Impact (11:28) NAR Strategic Plan and Legal Position (14:33) Homeownership by Occupation (15:53) Geographic and Occupational Shifts (17:22) Middle-Income Squeeze and Affordability (18:26) Homeownership Priorities and Realities (19:04) Congressional Housing Initiatives (20:37) Key Reforms and Buckshot Strategy (22:00) Vacant Lots and Local Initiatives (24:20) Zillow Preview and Industry Adoption (24:45)www.peoplenottitles.com

In this episode of "People Not Titles," Steve Kaempf and Matt Lombardi discuss key market trends, including a surprisingly strong March jobs report offset by declining labor force participation. They examine the Federal Reserve's cautious approach to interest rates, a legal victory for NAR regarding mandatory membership lawsuits, and Lawrence Yun's revised 2026 housing forecast. The hosts also highlight Cook County's skyrocketing property taxes, renters' increasing tenure due to affordability challenges, the dominance of small independent real estate firms, and record-high downtown Chicago office vacancies impacting property values and tax revenues.March Jobs Report & Labor Force Trends (0:00)Job Growth Breakdown & Industry Winners (3:57)Economic Context & Productivity (5:01)Federal Reserve & Interest Rate Outlook (6:05)Labor Market Takeaways & Value Creation (7:21)NAR Mandatory Membership Lawsuit Dismissed (8:06)Lawrence Yun's Home Sales Forecast Revision (10:31)Cook County Property Tax Surge (11:35)Drivers of Property Tax Increases (14:17)Taxpayer Frustration & Potential Solutions (16:35)Property Taxes as an Affordability Crisis (18:56)Renter Lock-In Effect (19:18)Profile of Real Estate Firms (22:47)Brokerage Business Sources & Client Relationships (26:45)Firm Benefits, Training, and Future Challenges (28:04)Downtown Chicago Office Vacancy Record (30:12)Podcast Announcements & Sports Wrap-Up (33:54)Full episodes available at:[www.peoplenottitles.com](http://www.peoplenottitles.com)People, Not Titles Podcast is hosted by Steve Kaempf and Matt Lombardi and is dedicated to elevating professionals in real estate and business through real conversations, proven success principles, and actionable insights.Follow & Connect:Instagram: https://www.instagram.com/peoplenottitlesFacebook: https://www.facebook.com/peoplenottitlesTwitter: https://twitter.com/sjkaempfSpotify: https://open.spotify.com/show/1uu5kTv#ChicagoRealEstate#HousingMarket2026#RealEstateInvesting#MortgageRates#realestatenews

We finally did it. We sat down with the man behind the numbers AND we recorded it live at the NAR podcast studio in Chicago.   If you've ever been at a dinner party, a showing, or a closing table and gotten hit with "so... how's the market?", this episode is for you. We got to chat with Dr. Lawrence Yun, Chief Economist at the National Association of Realtors, and y'all, we had SO many questions. We're the data nerds who cover the NAR Home Buyers and Sellers Profile Report every single year, so getting face time with the person behind all that research? It was kind of a big deal for us.   Dr. Yun has been at NAR since 2000 and stepped into the Chief Economist role in 2008 right in the middle of the foreclosure crisis. He's testified before Congress, appeared on C-SPAN, and was recognized by the Wall Street Journal for having one of the closest forecasts for 2024. Basically, if there's someone you want breaking down housing market trends for Realtors, it's him.   We cover a lot of ground in this one, from the housing shortage and what's actually being done about it, to the lock-in effect, affordability challenges for first-time buyers, capital gains tax reform, and what a "sweet spot" interest rate would even look like. Dr. Yun also shares something we weren't expecting, a really personal story about his family immigrating to the U.S. and how home ownership shaped his perspective on wealth and the American dream.   Here's what we cover in this episode: Why the answer to "how's the market?" is always local — and how to explain that to clients The housing shortage by the numbers (hint: we're still millions of units short) Why the median age of first-time buyers hitting 40 is "the most depressing statistic" of last year The lock-in effect: who it really impacts and why it may be loosening Why 6% isn't actually a high rate historically but still feels impossible for today's buyers How home prices rising 50% since pre-COVID has changed the affordability conversation The capital gains tax exemption that hasn't been updated in 30 years (and why that matters for your sellers AND your investment properties) What the Housing for the 21st Century Act could actually do How investors releasing rental properties could help the first-time buyer shortage What we need to build annually to get out of the housing shortage Key Quotes & Takeaways: "Is it a good time to buy? That's not the right question. Do you want to build wealth over time or not?" Dr. Lawrence Yun "Your house was $60,000. Their rate is 6% AND the house is $400,000. It's not the same math." Alissa "Median age of the first-time buyer is now 40. That is the most depressing statistic of last year." Dr. Lawrence Yun "I had 24 showings and five offers in one day at $175K. The same week, a $500K listing could sit for 50 days. Same market. Totally different world." Katy "If you are listening to this podcast, you are already ahead." Dr. Lawrence Yun Products, People & Previous Episodes Mentioned: NAR Home Buyers and Sellers Profile Report(2025 in episode 338) NAR Affordability Index NAR Existing Home Sales Statistics Housing for the 21st Century Act (bipartisan housing legislation) Ability to Repay Act (post-2008 mortgage reform legislation) Blue Chip Council (economic forecasting panel) Wall Street Journal Forecasting Survey Joint Center for Housing Studies at Harvard University Hustle Humbly Community Want to toast someone on the show? Send us a voice or video message with your name, who you're toasting, and why! Email it to team@hustlehumblypodcast.com. Leave us a review at http://ratethispodcast.com/hustlehumbly    

We got invited to NAR headquarters in Chicago for a small influencer summit and honestly? We thought the first email was fake and deleted it.

On America at Night with McGraw Milhaven, Lawrence Yun, Chief Economist at the National Association of REALTORS®, broke down the latest developments in the U.S. housing market, including affordability challenges, mortgage rates, and what buyers and sellers can expect in the months ahead. Next, Dr. Adam Omary of the Cato Institute examined the controversial question of whether an “autism epidemic” truly exists, discussing diagnostic trends, public perception, and how policy and data shape the debate. The show closed with author Jan Hartman, who discussed her book “Lincoln's Speechwriter: John Hay and the Friendship That Inspired American Eloquence,” highlighting the influential partnership behind some of Abraham Lincoln's most enduring words and its impact on American political rhetoric. Learn more about your ad choices. Visit podcastchoices.com/adchoices

What's the latest in the real estate market and what does it mean for the broader economy? Today's residential market faces ongoing inventory constraints and affordability challenges, while commercial properties must adapt to new work patterns and investment strategies. National Association of Realtors Chief Economist Lawrence Yun joined us to discuss the state of the residential and commercial markets and what that means for buyers, sellers, renters, investors and the insurance industry. Watch the original Wednesdays with Woodward® webinar: https://institute.travelers.com/webinar-series/symposia-series/real-estate-market-outlook.      --- Visit the Travelers Institute® website: http://travelersinstitute.org/. Join the Travelers Institute® email list: https://travl.rs/488XJZM. Subscribe to the Travelers Institute® Podcast newsletter on LinkedIn: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7328774828839100417.  Connect with Travelers Institute® President Joan Woodward on LinkedIn: https://www.linkedin.com/in/joan-kois-woodward/. 

On the January 20th episode of Market Trends, hosts Steve Kaempf and Matt Lombardi break down the most important developments shaping the U.S. real estate industry and the Chicago housing market.Redfin CEO Steps Down, Power 200 Revealed & 2026 Market Signals | People Not Titles Market TrendsThis episode delivers high-level insight into major leadership shifts, market signals, and strategic opportunities for real estate professionals, investors, and industry leaders.Key topics covered in this episode include:• **Redfin CEO Glenn Kelman stepping down following the acquisition by Rocket Companies• Leadership transition and its impact on brokerage models and the real estate ecosystem• Legal and competitive pressures facing Redfin• The Swanepoel Power 200 list and the most influential leaders in real estate• Top 10 power players shaping the future of the industry• National Association of Realtors and Chicago leadership representation• Market outlook insights from economist Lawrence Yun• Signs of a potential housing market recovery• The “coiled spring” market effect and pent-up buyer demand• Winter listing strategies and market positioning• Housing supply, affordability, and federal policy initiatives• The proposal to use 401(k) funds for home down payments• Implications of retirement fund withdrawals for homebuyers• December existing home sales report• Regional pricing and sales trends across the U.S.• Mortgage rate movement and investor market activity• Chicago sports recap and community updates• Upcoming continuing legal education seminarsThis episode provides strategic market intelligence for:✔ Real estate agents✔ Brokers✔ Investors✔ Developers✔ Lenders✔ Realtors✔ Market analysts✔ Industry professionals✔ Real estate entrepreneurs✔ First-time buyersIf you're looking to understand where the housing market is heading in 2026, how leadership shifts are reshaping the industry, and how to position yourself for growth, this episode delivers clarity, insight, and real-world perspective.

What will the housing market look like in 2026, and how can buyers, sellers and investors prepare now? This week on Real Estate Today, we look ahead to the next phase of the real estate market as leading economists and top industry voices share their outlook for the year ahead. From long-term housing trends to economic forces shaping homeownership, our guests break down what to expect and how those shifts could impact decisions to buy, sell or invest. Guests include Lawrence Yun, chief economist at the National Association of REALTORS®; Matt Vernon, head of consumer lending at Bank of America; Nadia Evangelou, senior economist and director of real estate research at the National Association of REALTORS®; and Danielle Hale, chief economist at Realtor.com. Plus, in our Hot or Not segment, we break down three home design trends making waves right now: unfitted kitchens, also known as freestanding kitchens; curved silhouettes in kitchens, from islands to doorways; and beige-on-beige color schemes.

What will the housing market look like in 2026, and how can buyers, sellers and investors prepare now? This week on Real Estate Today, we look ahead to the next phase of the real estate market as leading economists and top industry voices share their outlook for the year ahead. From long-term housing trends to economic forces shaping homeownership, our guests break down what to expect and how those shifts could impact decisions to buy, sell or invest. Guests include Lawrence Yun, chief economist at the National Association of REALTORS®; Matt Vernon, head of consumer lending at Bank of America; Nadia Evangelou, senior economist and director of real estate research at the National Association of REALTORS®; and Danielle Hale, chief economist at Realtor.com. Plus, in our Hot or Not segment, we break down three home design trends making waves right now: unfitted kitchens, also known as freestanding kitchens; curved silhouettes in kitchens, from islands to doorways; and beige-on-beige color schemes.

In this special episode of the Atlanta REALTORS® Rundown, host Neel Midha sits down with Lawrence Yun, Chief Economist for the National Association of REALTORS®, to unpack what's really happening in today's market and what Atlanta should expect next. From local housing trends and inventory shifts to the expanding role of AI in real estate, Lawrence offers clear, data-driven insights on how agents can prepare for the evolving landscape ahead. He also shares his outlook for 2026, breaking down the factors that could shape pricing, demand, and the overall economic climate. If you want a forward-thinking, practical look at where the market is heading, this episode is a must-listen.  

Is now a good time to sell your home? This week on Real Estate Today, we dig into the data, market trends, and strategies sellers need to know before making their next move. Learn how to price your home right, boost curb appeal in the colder months, and make your property stand out to today's savvy buyers. We'll also explore home equity loans and what sellers should know about leveraging their home's value. Guests include Lawrence Yun, chief economist at the National Association of REALTORS®; Danielle Hale, chief economist at Realtor.com; Kourtney Pulitzer, Palm Beach real estate professional; Alexa Kebalo, REALTOR® and relocation expert; and John Hummel, head of retail home lending at U.S. Bank. Plus, in our Hot or Not segment, we look at two home design trends: quiet luxury and open shelving in the kitchen.

Katie Hubbard believes the housing market will improve and mortgage rates will come down. She explains how the recent new home sales and existing home sales prints set the foundation. Lawrence Yun highlights home pricing and why Midwest markets are at a "discount" compared to coastal housing.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

In this episode of "The People Not Titles Podcast," hosts Steve Kaempf and Matt Lombardi analyze five warning signs of a weakening real estate market, discuss investor opportunities, Midwest market resilience, and the risks of waiting for lower mortgage rates. They also cover industry consolidation, Howard Hanna's expansion into Georgia, the potential for a national housing emergency declaration, and ongoing affordability challenges.Podcast Introduction (00:00:00)Setting the Scene: Early September 2025 & Market Overview (00:00:16)Five Red Flags in the Housing Market (00:00:40)Red Flag #1: Owning vs. Renting Cost Gap (00:01:26)Red Flag #2: Surge in Home Purchase Cancellations (00:02:13)Red Flag #3: Rising FHA Mortgage Delinquencies (00:02:51)Red Flag #4: New Homes Cheaper Than Existing Homes (00:04:03)Red Flag #5: Builders Offering Heavy Incentives (00:04:35)Why Waiting for Mortgage Rates to Fall Is a Poor Strategy (00:05:40)Affordability Challenges & Underbuilding (00:06:14)Why Not to Rely on Future Refinancing (00:08:52)Refinancing: When Does It Make Sense? (00:10:12)Personal Refinance Experiences & Advice (00:11:07)Midwest Real Estate Outperforming National Market (00:14:11)Affordability and Inventory in the Midwest (00:15:44)Chicago Inventory Squeeze & Market Comparison (00:16:59)Midwest's Slower Pandemic Price Run-Up (00:18:03)Midwest Not Overbuilt (00:18:21)Midwest Affordability & Mortgage Rates (00:19:01)Pending Home Sales Report (00:20:22)Market Sentiment & Lawrence Yun's Insights (00:21:23)Howard Hanna's Georgia Acquisition & Brokerage Consolidation (00:22:39)National Housing Emergency Declaration Possibility (00:25:18)Possible Emergency Measures & Zoning Reform (00:26:17)Legal Uncertainty & Short-Term Boosts (00:27:24)Industry Advocacy & Supply Shortage (00:28:31)Speculation on Fed Rate Cuts & Market Pressure (00:29:29)Full episodes available at www.peoplenottitles.comPeople, Not Titles podcast is hosted by Steve Kaempf and is dedicated to lifting up professionals in the real estate and business community. Our inspiration is to highlight success principles of our colleagues.Our Success Series covers principles of success to help your thrive!www.peoplenottitles.comIG - https://www.instagram.com/peoplenotti...FB - https://www.facebook.com/peoplenottitlesTwitter - https://twitter.com/sjkaempfSpotify - https://open.spotify.com/show/1uu5kTv...

“The apartment sector is temporarily oversupplied,” Lawrence Yun notes with surprise. He digs through the latest economic data around housing and identifies some of the latest trends. “Once the interest rate comes down, we're going to see a rush of buyers,” he adds, with many renting apartments because they were forced to. Because of this, Yun expects a housing shortage in single-family housing.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Selling your home in today's market, with housing inventory increasing but buyers seemingly standing back, takes strategy, precision and a competitive edge. This week, we're joined by Lawrence Yun, NAR chief economist; Scott Geller, associate broker at REMAX in Jamison, PA; Ryan Melvin, Las Vegas real estate expert; Art Moreno, broker-owner of the Art of Realty; and Melissa Bailey, a REALTOR® from Arizona. Our guests share expert strategies for helping sellers stand out, from pricing a home competitively to attracting buyers with high-quality listing photos. We'll explore the surprising mistakes that can sabotage a great shot, how a home warranty can ease buyer concerns, and what recent equity gains really mean for today's sellers. Plus, in our “Hot or Not” segment—could a ‘fortress of solitude' be the next big home trend?

It's Thursday, July 24th, A.D. 2025. This is The Worldview in 5 Minutes heard on 140 radio stations and at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Jonathan Clark United Kingdom urging 10 countries to give religious freedom The United Kingdom is urging 10 countries in the world to protect religious freedom.  British Member of Parliament David Smith announced the plan earlier this month as the U.K.'s new Special Envoy for Freedom of Religion or Belief. Smith highlighted the persecution of Christians around the world in his briefing. His plan will promote religious freedom in countries where the need is greatest, including Afghanistan, Algeria, China, India, Iraq, Nigeria, Pakistan, Syria, Ukraine, and Vietnam. Listen to comments Smith made on his X account. SMITH: “So today, I was at the Foreign Office launching the freedom of religion or belief strategy -- a strategy that as U.K. Special Envoy, I've been working on for the last six months. “That strategy is going to help us work with civil society organizations, with the U.K. posts all around the world, to focus in on the places that we can make the most difference to make sure that people can have freedom of religion or belief and not be persecuted for what they believe.” At the end of his briefing, Smith quoted Proverbs 31:8-9 which says, “Speak up for those who cannot speak for themselves, for the rights of all who are destitute. Speak up and judge fairly: defend the rights of the poor and needy.” U.S. to incinerate $10 million worth of contraceptives Reuters reports the United States is planning to incinerate nearly $10 million worth of contraceptives. The stockpile includes contraceptive implants and pills that have been stored in Belgium ever since President Donald Trump put a freeze on U.S. foreign aid. The U.S. turned down offers from the United Nations and other organizations to buy the contraceptives.  Instead, the U.S. is having them shipped to a facility in France that handles medical waste. This is in keeping with the Mexico City policy that Trump reinstated in January. The policy blocks U.S. funding to foreign groups that promote abortion. Trump cuts funding for transsexual drugs and surgeries for minors National Review reports the Trump administration is cutting federal funding for “sex trait modifications to minors.” The Department of Health and Human Service is working on a new rule to protect children from transsexual drugs and surgeries. Hospitals that harm children this way would not be allowed to participate in Medicare or Medicaid.  An administration official told National Review, “We are actively combing through all federal grants that go to the hospitals that still provide these procedures … to kids, and sorting through what funding could be cut.” Previously-owned homes sales down A report from the National Association of Realtors found the sale of previously owned homes fell 2.7% last month. Meanwhile, the median existing-home sales price is up 2% at $435,300 -- the highest ever.  Mortgage rates are also high with the average 30-year fixed-rate mortgage coming in at 6.75%. Lawrence Yun, Chief Economist at the National Association of Realtors, said, “Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market.” 25% of Gen Z workers regret college One out of four Gen Z workers regrets going to college, according to a report from Resume Genius. Survey respondents were born between 1997 and 2012. Seventy-three percent of Gen Z employees said they earned a degree. Of those, 21% said they work in a different field than their degree, and 19% said their degree didn't contribute to their career at all. Gen Z workers who studied science, technology, engineering, mathematics, or health professions were the most likely to say their degree contributed to their career.  If they could change their education path, 13% of Gen Z workers said they would learn a skilled trade or pursue a career that doesn't require a degree, and 10% would focus on entrepreneurship or self-employment.  More young men coming to church And finally, the American Bible Society released results from a flash poll it conducted last week.  Over 120 churches around the country responded to the survey. The poll found that 54% of churches are seeing more interest in the Bible among young adults. And 58% said they are seeing more men coming to church.  The survey noted, “Churches are seeing more men of all ages, but especially young, walking through their doors. And those who already attended are getting more invested in their faith and involved in their church.” In Titus 2:1, 2, 6, the Apostle Paul wrote, “But as for you, speak the things which are proper for sound doctrine: that the older men be sober, reverent, temperate, sound in faith, in love, in patience. … Likewise, exhort the young men to be sober-minded.” Close And that's The Worldview on this Thursday, July 24th, in the year of our Lord 2025. Follow us on X or subscribe for free by Spotify, Amazon Music, or by iTunes or email to our unique Christian newscast at www.TheWorldview.com.  Plus, you can get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

Where are the home buyers? We break down what's keeping buyers on the sidelines—even as inventory rises. Lawrence Yun, chief economist at the National Association of REALTORS®, shares an in-depth look at today's housing market. He explains why existing-home sales haven't picked up despite better spring conditions and why elevated mortgage rates are keeping deals from closing. Melissa Bailey, real estate professional and team lead at the Jason Mitchell Group in Scottsdale, Arizona, discusses the challenges today's buyers face. Ali Wolf, chief economist at Zonda, dives into the growing housing affordability crisis and compares new-home prices with existing-home prices. Plus, we explore whether painting a home's brick white and open floor plans are hot or not.

Lawrence Yun expects a “rush” of buyers in the housing market as soon as interest rates come down, but mortgage rates recently hit 7%. Alex Barron notes that though home sales are below average, they're not that far below average: he would rate this market a “B+”. They contrast Existing Home Sales with their expectations for the New Home Sales report, with the latter seeing pre-Covid levels of demand.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Join MAR CEO Beth Hansen and 2025 President Gena Nolan as they sit down with Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS®, for an in-depth look at the forces shaping real estate in 2025. From national market trends to local insights in Mississippi, Dr. Yun breaks down what REALTORS® need to know about inventory challenges, interest rates, inflation, and the overall economic outlook.

Spring is one of the hottest times to sell a home, but what does it take to sell quickly and get top dollar in today's market? Lennox Scott, chairman and CEO of John L. Scott Real Estate, shares strategies for a successful home sale this spring. Then, Tori Toth, REALTOR® and founder of The Stage 2 Sell Strategy, explains how home staging helps attract buyers and boost their sale price. Melissa Dittmann Tracey highlights what paint colors are trending and which to avoid. Lastly, Lawrence Yun, chief economist at the National Association of REALTORS®, breaks down the latest Existing-Home Sales Report and what it means for sellers in the current market.  

The real estate industry is entering a new phase—one where rising interest rates, evolving buyer behavior, and industry-wide legal settlements are shaping the future. If you're in the title or real estate business, you need to know what's coming. Dr. Lawrence Yun, NAR's Chief Economist, joins the show to break down the biggest economic trends affecting home sales, mortgage rates, and industry structure. Don't miss this deep dive into what 2025 has in store.     What you'll learn from this episode How inflation and interest rates are impacting mortgage rates and buyer affordability Why home listings are increasing and what that means for buyers and sellers NAR Settlement: How new rules impact agents, commissions, and industry structure The impact of institutional investors on the housing supply How the national debt and government cuts could affect mortgage rates and real estate Resources mentioned in this episode National Association of REALTORS® PEW CONSULTANCY LTD Federal Reserve Board Federal Housing Administration - HUD Hillbilly Elegy by J. D. Vance | Paperback, Hardcover, and Kindle On Freedom by Timothy Snyder | Paperback, Hardcover, and Kindle About Dr. Lawrence YunLawrence Yun is Chief Economist and oversees the Research group at the NATIONAL ASSOCIATION OF REALTORS®. He supervises and is responsible for a wide range of research activity for the association including NAR's Existing Home Sales statistics, Affordability Index, and Home Buyers and Sellers Profile Report. He regularly provides commentary on real estate market trends. Dr. Yun creates NAR's forecasts and participates in many economic forecasting panels, among them the Blue Chip Council and the Wall Street Journal Forecasting Survey. He also participates in the Industrial Economists Discussion Group at the Joint Center for Housing Studies of Harvard University. He appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States, and has testified before Congress. Dr. Yun has also appeared as a guest on CSPAN's Washington Journal. Dr. Yun received his undergraduate degree from Purdue University and earned his Ph.D. from the University of Maryland at College Park.   Connect with Dr. Lawrence Website: Lawrence Yun LinkedIn: Lawrence Yun     Connect With UsLove what you're hearing? Don't miss an episode! Follow us on our social media channels and stay connected. Explore more on our website: www.alltechnational.com/podcast Stay updated with our newsletter: www.mochoumil.com Follow Mo on LinkedIn: Mo Choumil

Lawrence Yun from the National Association of Realtors gives his take on the housing market. He says they need a significant influx of inventory to reach pre-COVID levels, and consumers are looking for more options. Regional trends he's watching include demand in the South and the Rocky Mountains. “For a big surge in activity, we need a 6% mortgage rate.”======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

Curious about what makes a buyer's offer stand out or how a seller can choose the right one? Pat Corle, 2025 president of Dayton REALTORS®, shares expert strategies on crafting and evaluating offers for a successful home purchase. We also welcome Jeffrey Fagan, REALTOR® and regional vice president at Watson Realty Corp. in Jacksonville, Florida, who explains the appraisal process and why they are so important, what sellers can do to hit the highest appraisal price, and the benefits of pre-listing appraisals. Then, home design expert Melissa Dittmann Tracey joins the conversation to weigh in on whether black countertops or wood floors in your kitchen are still trending or if they've gone out of style. Finally, Lawrence Yun, chief economist at the National Association of REALTORS®, shares the latest trends from the Existing-Home Sales Report.

Their trade organization just lost a huge lawsuit. Their infamous commission model is under attack. And there are way too many of them. If they go the way of travel agents, will we miss them when they're gone? SOURCES:Sonia Gilbukh, assistant professor of real estate at CUNY Baruch College.Kevin Sears, 2025 president of the National Association of Realtors.Chad Syverson, professor of economics at the University of Chicago.Lawrence Yun, chief economist for the National Association of Realtors. RESOURCES:"Heterogeneous Real Estate Agents and the Housing Cycle," by Sonia Gilbukh and Paul Goldsmith-Pinkham (NBER Working Paper, 2024)."Real Estate Commissions and Homebuying," by Borys Grochulski and Zhu Wang (Federal Reserve Bank of Richmond Working Paper, 2024)."The Relationship Between Home Prices and Real Estate Commission Rates: Implications for Consumers and Public Policy," by Stephen Brobeck (Consumer Federation of America, 2022)."The Relationship of Residential Real Estate Commission Rate to Industry Structure and Culture," by Stephen Brobeck (Consumer Federation of America, 2021)."Competition in the Real Estate Brokerage Industry: A Critical Review," by Panle Jia Barwick and Maisy Wong (Economic Studies at Brookings, 2019)."Hidden Real Estate Commissions: Consumer Costs and Improved Transparency," by Stephen Brobeck (Consumer Federation of America, 2019)."Market Distortions when Agents are Better Informed: The Value of Information in Real Estate Transactions," by Steven D. Levitt and Chad Syverson (NBER Working Paper, 2005).The Residential Real Estate Brokerage Industry, staff report by the Los Angeles Regional Office of the Federal Trade Commission (1983).

Brian Buffini has forecast real estate trends and developments with extraordinary accuracy for many years. In his 17th Bold Predictions broadcast, he shares the most up-to-date research on current market conditions, talks to NAR's Dr. Lawrence Yun to get insight on what lies ahead for the industry and outlines how a new training program will separate the professionals from the amateurs. YOU WILL LEARN:The real state of real estate.Dr. Yun's detailed analysis of what the market holds for 2025.Why it's time to be a pro.MENTIONED IN THIS EPISODE: CFSPKickstart 2025 Leadership Coaching NAR NOTEWORTHY QUOTES FROM THIS EPISODE: “The only way to move forward in the year to come is to really be at the height of your profession.” – Brian Buffini “The worst tightness in inventory is coming to an end.” – Dr. Lawrence Yun “Realtors should anticipate more listings, which automatically means more business opportunity.” – Dr. Lawrence Yun “Teams are going to continue to be a more a significant part of the industry.” – Brian Buffini “You cannot be a C player in the real estate space.” – Brian Buffini “If you will make the commitment to work on yourself harder than you work on your real estate business, you can go from making a living to making a fortune.” – Brian Buffiniitsagoodlife.com Hosted on Acast. See acast.com/privacy for more information.

Leo Pareja talks about managing liability risks at eXp, the benefits of the U.S. MLS system compared to international markets, and the challenges he faced selling his mom's house in Belize—revealing the importance of efficient real estate practices.    Connect with Leo on LinkedIn. Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube - Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com. Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod This podcast is produced by Two Brothers Creative 2024.

NAR Chief Economist Lawrence Yun shares his predictions on economic policy under the newly elected president, discusses the affordability crisis, weighs in on potential Fed rate cuts and assesses the housing inventory landscape going into 2025 and beyond.    Connect with Lawrence on LinkedIn. Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube - Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com. Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod This podcast is produced by Two Brothers Creative 2024.

Welcome back to America's #1 Daily Podcast,  featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris?  Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206. IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://premiercoaching.com Don't overreact! The market is slowing, but that's normal for this time of year!  Tuck your drama in and get back to work!  If you expect buyers and sellers to transact with you, you must be educated, motivated, and proactive. Fact:  Some homes will sell immediately with multiple offers, sometimes over the list price.  Some won't.  Be able to handle both situations with skill. According to Lawrence Yun from NAR, “Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitely rising on a national basis.” Just because there are more price reductions, expired listings, and higher rates than we'd like does not mean the market is about to crash. Fewer sales are occurring, and the business has become more challenging for most agents. Add to that the typical holiday / fourth-quarter slowdown, and you may need to polish your skills and mindset.  Today's podcast is designed to reduce your stress by providing better strategies so you can still reach your goals this quarter. Set your seller's expectations for two scenarios... yes, it MAY sell right away, possibly with multiple offers; however...if it does NOT sell right away, what does that do to their plans?  Understand your seller's motivation and time frame and discuss different scenarios (after you have the listing signed but before the first showing)!  What are the average days on the market for the subject property? Please don't ASSUME that it's ten or less, or even 30 or less, depending on the market conditions! Nationally, the average number of days on the market is now 61.  Nearly 10% of listed homes are NOT selling the first time they're listed—47% of last month's homes sold for less than the full list price. HUGE Announcement: You will love this! Looking for the full outline from today's presentation? Our DAILY Newsletter featured lead generation systems, real estate scripts, daily success plans and (YES) the notes or today's show. Best part? The newsletter is free! https://harrisrealestatedaily.com/

We're diving deeper into the 2024 housing market forecast with the latest data on inventory, prices, rents, and a possible recession. But remember, the most important factor is still LOW INVENTORY! So, are you ready to stop waiting and start acting?Highlights:"Unlike back in the 2008 Great Recession period, it is not a question of lacking buyers. We still have multiple offers. And it's also not a question about massive supply where it's leading to home prices plunging. We don't have enough supply, so we are hitting record high home prices." - Lawrence Yun, NAR Economist (Uncle Larry)"While inventory nationally and in most markets is higher than one year ago, it remains low from a historical perspective." - Mark Fleming, First American Chief Economist"Expert forecasts lean towards a moderation in home price growth over the next five years. This translate to a slower and more sustainable pace of appreciation compared to the breakout speed witnessed in recent years, rather than a free fall in prices." - Marco Santarelli, Founder of Norada Real Estate Investments"Since 2020, rents have gone up 30%... Have you gotten a 28% pay raise since 2020? If you haven't, then rents suck." - David Sidoni"In every recession since the 1980s, housing has gone up during the recession, just like the bond market is...opposed to the stock market...owning property is your best hedge against inflation when times get tough." - David SidoniReferenced Episodes:Episode 198 & 216: Learn about Private Mortgage Insurance (PMI) and why it's not the devil.Episode 69 & 106: David Sidoni discusses Dave Ramsey and the math behind homeownership decisions.General Overview:In this episode, David Sidoni delves deeper into the 2024 housing market, emphasizing the ongoing inventory crisis as the key factor influencing prices and affordability. He provides insights into the potential for a recession, its impact on housing, and how rising rents further support the argument for buying over renting.Despite current market conditions, David encourages first-time homebuyers to act now and take advantage of the creative solutions available to make homeownership a reality.Connect with me to find a trusted realtor in your area or to answer your burning questions!Subscribe to our YouTube Channel @HowToBuyaHomeInstagram @HowtoBuyAHomePodcastTik Tok @HowToBuyAHomeThis podcast was created for YOU - to cut through the confusion and empower you to buy your first home. Let's change how the real estate industry treats first-timers, one buyer at a time- starting with YOU!Visit our Resource Center to "Ask David" AND get your FREE Home Buying Starter Kit!David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer. Subscribe for regular market updates, and leave a review to help us reach more people. Ready for an honest, informed home-buying experience? Viva la Unicorn Revolution - join us!"Last Lease Ever" - Start your custom 12-month action plan to replace your rent with the savings of home equity, at no cost to you. Message David NOW to assemble YOUR Unicorn team ASAP!

In this episode, we delve into the ongoing housing market crash, focusing on the latest data on existing home sales and inventory levels. We discuss the significant drop in transactions, rising home prices, and the broader implications for the real estate market. Additionally, we cover expert predictions for housing trends in 2025, insights from leading economists, and upcoming speakers and events in the One Rental at a Time school community. Join us to stay informed on the current state and future outlook of the housing market. [00:00] - Introduction and overview of the episode's topics. [00:25] - Existing home sales report: third worst month in 30 years, transactions down, and inventory up. [02:23] - Analysis of inventory growth, particularly in Texas and Florida. [03:28] - Discussion on rising home prices and the broken state of the housing market. [04:51] - Lawrence Yun's incorrect predictions and the long-term outlook for home sales. [06:16] - Breakdown of cash sales and first-time home buyer statistics. [07:18] - Mark Zandi's recession warning and predictions for economic slowdown. [08:56] - Overview of upcoming speakers in the One Rental at a Time school community. [09:58] - Upcoming economic data and events to watch next week, including Fed speeches and Case-Shiller report. [13:24] - Discussion on how lowering interest rates could impact housing prices and supply. One Rental at a Time: Website 54-Year Spreadsheet: Download from One Rental at a Time Join the School Community: School Community Follow Michael Zuber: YouTube, Instagram, Twitter Thank you for tuning in to this detailed analysis of the housing market. If you found the information valuable, please rate, follow, share, and review our podcast. Stay connected for more expert insights and updates on the ever-evolving real estate landscape. Join the One Rental at a Time school community for more in-depth discussions and networking opportunities with industry leaders.

Welcome to "Furniture Industry News," your go-to source for the latest happenings in the furniture and home furnishings industry. In today's episode, we delve into critical updates, trends, and insights that are essential for staying ahead in this dynamic market. We cover a range of topics from housing market fluctuations and port activity to innovative product launches and evolving home decor trends.Segment 1: Housing Market UpdateNational Association of Realtors Report: A 1.9% year-over-year decline in April home sales, despite record-high home prices.April marked the tenth consecutive month of year-over-year price increases.Median home price in April: $407,600, up 5.7% from last year.Regional variations in sales and price trends.Lawrence Yun, NAR Chief Economist, highlights the growth in the luxury segment and the impact of higher interest rates on sales.Segment 2: Value Addition in Case GoodsInnovative Features and Strategic Pricing: Lower-to-mid-end market companies are enhancing value.Insights from Pat Watson (Martin Svensson) and Paul Comrie (Elements International) on integrating advanced technology and unique features.Michael Hsieh (Lifestyle Enterprises) on providing high-end details in cost-effective furniture.Ian Geltner (Steve Silver) on market expertise and customer service.Christian Rohrbach (A-America) on unique product features like expandability and innovative storage solutions.Segment 3: Port Activity and Its ImplicationsWest Coast Ports Growth: The Port of Los Angeles and Port of Long Beach report substantial growth in container handling.Port of Los Angeles: 770,337 containers in April, a 12% increase.Port of Long Beach: Over 750,000 containers in April, up 14.4%.Insights from Gene Seroka (Port of Los Angeles) and Mario Cordero (Port of Long Beach) on the robust import activity.Segment 4: Technological Advancements in Interior DesignHouzz's 3D Floor Plan Tool: Introduction of photorealistic renders to enhance client presentations.Benefits include lifelike representations, natural lighting, and textures.CEO Alon Cohen emphasizes cost-effectiveness and efficiency.Segment 5: Home Decor TrendsPinterest's Summer 2024 Report: Shift from beige to vibrant and colorful designs.Whimsical décor and dopamine décor are gaining popularity.Significant increases in searches for vintage elements and nostalgic styles influenced by cultural phenomena like "Bridgerton."Segment 6: Tribute to Fecera's FurnitureClosure Announcement: After 78 years, Fecera's Furniture is closing its doors.History and legacy of the family-owned business.Final liquidation sale managed by Planned Furniture Promotions.Segment 7: Lovesac's New Product LaunchPillowSac Accent Chair: Blending traditional beanbag comfort with a sophisticated oak frame.Customizable with various covers and hardware finishes.CEO Shawn Nelson on expanding usability and meeting customer preferences.Segment 8: Retail Performance HighlightsTJX Companies: Strong first-quarter performance, particularly in the home segment.HomeGoods reports significant sales and profit growth.CEO Ernie Herrman on strategic focus and demographic reach.Williams-Sonoma: 70% profit increase despite revenue decline.Strategic adjustments and cost controls contribute to profitability.CEO Laura Alber on maintaining growth and enhancing customer service.

Taking a step away from the drama, speculation, and panic caused by the NAR Commission Lawsuit Settlement, let's reset everyone's mindset. Today, we're talking about 8 reasons to be optimistic.   Welcome back to America's #1 Daily Podcast,  featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris?  Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206  IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://premiercoaching.com We'll return to upgrading your buyer skills this week; don't worry!  The fact is that even after upgrading your best buyer practices, embracing, learning, and using your Buyer Presentation if you don't have a powerful mindset, you'll be unlikely to use your new skills at the level necessary to thrive in the new real estate world.  HUGE Announcement: You will love this! Looking for the full outline from today's presentation? Our DAILY Newsletter featured lead generation systems, real estate scripts, daily success plans and (YES) the notes or today's show. Best part? The newsletter is free! https://harrisrealestatedaily.com/  Let's dive into 8 reasons to look forward to a fantastic year ahead. 1.  Inventory is back and rising steadily! This is the most exciting news this month—it's what we've all been waiting for. NAR head economist Lawrence Yun said, "Additional housing supply is helping to satisfy market demand. Housing demand has steadily risen due to population and job growth, though prevailing mortgage rates and wider inventory choices will determine the actual timing of purchases." Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/ *Rising demand and lower rates should fuel a better year for sales! For the week ending March 15th, there were 507,000 single-family homes on the market. That's up 1.3% from the previous week, 24% year over year, and an amazing 105% from two years ago. That's from Altos Research, which tracks every sale in the country every week.   REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, alltheleads.com/harris   Inventory is growing nationwide and has been consistently increasing each week.  These numbers don't even include all the new construction!  That's our next point... 2.  Builders are officially bullish. The National Association of Homebuilders has published its “builder's confidence” index for 35 years. In March 2024, the index rose 3 points to 51. Anything greater than 50 is considered bullish.  What goes into the index? It has three components: current conditions, future conditions, and buyer traffic. They report that all three components are coming in high. For comparison, their builder confidence index was 44 this time last year.  In January, housing starts rebounded 11% Month over Month to 1.5 million units. February was up 6% year over year. Completions jumped to 1.7 million units, up 20% Month over Month and 10% Year over Year. That's the fastest pace of completion seen since January 2007! While some of those starts are multifamily, the majority are single-family homes.   Homework: Take a tour of all the available new construction in the zip codes you typically work in, plus a 10-mile radius.  Refer to our podcasts about new construction.  More than 30% of the available inventory is new construction. 3.  Rates WILL come down this year.  Rates are currently just under 7%, which is already an improvement from the beginning of the year.  We see that in mortgage applications being up.

Brian Buffini has forecast real estate trends and developments with incredible accuracy for many years. In his 16th annual Bold Predictions show, he interviews NAR Chief Economist Dr. Lawrence Yun for a market update. He also predicts what's next for the industry and sets out the action steps you must take to achieve phenomenal success in 2024. YOU WILL LEARN:The real scoop on the economy and how it affects real estate. Dr. Yun's detailed analysis of the industry. How the Do It N.O.W. campaign will help you win. MENTIONED IN THIS EPISODE: The National Association of REALTORS® Do It N.O.W. NOTEWORTHY QUOTES FROM THIS EPISODE: “Sales are definitely down, but home prices are still holding on at near record-high levels.” – Dr. Yun “The Federal Reserve is probably going to cut interest rates three or four times. The bond market is anticipating that move and has pivoted already.” – Dr. Yun “There's a significant pent-up desire for sellers to move.” – Brian Buffini “90% of consumers want to work with a trusted agent.” – Dr. Yun “Reach out to your past clients. They're all in a happy mood. They have built sizeable wealth and they may be associating that happiness with you.” – Dr. Yun “It's not hard to predict the future when you study the past.” – Brian Buffini “Rates are going to drop, no question about it.” – Brian Buffini“The demand to buy has never been higher. And people want to get in the game.” – Brian Buffini “The time to prepare is now.” – Brian Buffini “It's a very fundamental market. It requires an elevation of skill set and it requires the determination of mindset.” – Brian BuffiniItsagoodlife.com Hosted on Acast. See acast.com/privacy for more information.

Part 3: Home Prices... Inflation, Appreciation, Values.  What's happened and what to expect. Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com Home Prices: Percent increase and predictions We won't know exactly how much home prices went up in 2023 until all the figures are in, usually sometime during 1st quarter, but here's what's being reported so far… According to Statista, home prices in the US have risen for 11 consecutive years.  2021 saw the highest average increase for one year, at 18%.  Freddie Mac reports that in 2023 on average home prices increased at 3%, but remember, that's year over year.   REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris According to CoreLogic, and Case-Shiller indexes, home prices in the US increased 3.9% in 2023, but these are averages. Many cities saw far greater increases this year: (CNBC) The following cities had year-over-year median home price increases of 10% or more since September of 2022: (interestingly, only the first 2 are coastal). Los Angeles +23.8% San Diego +18.2% Richmond, VA +15% Boston +14 % Columbus, Oh + 12% Rochester, Ny + 11.4% Chicago, +10% Indianapolis, +10% It's also interesting that all of these towns with 10% or higher year-over-year increase had experienced a leveling off or decrease in the 2nd half of 2022, when the rate shock was fresh. Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699 Median home prices in both LA and San Diego increased by 38% and 48% respectively since January of 2020. (realtor.com) So what about places like Columbus, Indianapolis, Richmond, and Rochester?  The common thread is affordability, with each of those towns averaging $416,000.  (US Census data) Demand there is high and affordability isn't crazy. So will prices keep going up in 2024?  By how much?   According to both Zillow as well as NAR's economist Lawrence Yun, prices should increase an average of 3 to 4% in 2024. Our predictions?  Unlike the crazy pandemic market, where very different regions and cities acted very similarly with crazy appreciation, everything getting multiple offers, waived appraisals, and inspections, 2024 will see different trends in different places.  Real estate prices will be very dependent on local trends versus national ones. Watch your MLS hot sheets every day so you'll detect local trends.  You'll need to know what's hot and what's not for each buyer, for each seller.  Maybe home prices in your town will go up by 10%, but one county away could be stagnant. The old adage that ‘real estate is like the weather…it's very local', is now true again.  Knowledge = confidence, ignorance = fear.  Be the one with all the knowledge and speak from fact, not speculation. Does this moderation of prices mean that 2024 will be a Buyer's Market, a Seller's Market, or a Balanced Market? As long as demand is stronger than supply due to low inventory, it will remain a seller's market.  Until our inventory increases significantly, versus incrementally, it will remain a seller's market, though less frenzied than during the pandemic.

PART ONE: Supply And Demand.  What to expect in 2024. Inventory.  Will we ever see more supply? We are still experiencing a historic lack of supply.  Will this improve in 2024? Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com Currently, as we are coming to the end of 2023, inventory levels are seasonally low.  That's completely normal.  Inventory usually peaks around mid-October, falls until the year changes, and picks up in the Spring.   Our active inventory level, excluding new construction, is currently around 560,000 active listings.  For comparison, this week in 2015 (largely seen as the last ‘normal' market), there were 1,104,514 active listings.  (Altos Research) REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris There are .5% more homes on the market this week versus the same week last year.  There were 58,000 new listings this week, and 10,000 of those homes went pending immediately.  That's good news considering we're in the slowest time of the year.  To see ANY increase in inventory at this point in the year is remarkable and hopefully a trend. Should we worry about a LOT more inventory wrecking the market and crashing prices? According to Lawrence Yun (chief economist for NAR): “There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.” Typically as rates come down (and they've come down from a high of 8.1% earlier this year to nearly 7% in the past week), we should see more inventory come online since the typical seller is also a buyer.  As rates moderate lower, inventory should climb higher.   Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699 That's good news about inventory!  What should you watch in your market? -Watch your MLS hot sheet daily and see 'what's hot and what's not' -Is the inventory rising or falling in each area you work? -What price ranges are seeing the most price reductions? -Where is all the inventory? Certain zip codes and/or prices? -Are the Average Days on the Market going up or down? -What is the list-to-sell price ratio in the areas you work? -What are the builders doing to promote their inventory? Demand Demographic Demand. The demand from the millennials and upcoming Generation Z buyers together make up a population larger than the entire country of Japan.  It's not a small amount of people. The oldest of the millennial generation are now in their early 40s, and the average age of first-time buyers is currently 36.  How many of them have been sitting out the market, building up their downpayment, and waiting for rates to slide into the 6's?  That's a lot of pent-up demand just waiting to pounce. Baby Boomers are still aging out of their homes, downsizing, paying cash, and entering into assisted living care facilities.  Many of today's transactions are fueled by the Boomers.   If you add the inventory from the Boomers and the demand of the Millennials and Generation Z, rates come down and then we're right back to a hot market. It's too soon to tell, but demographics are certainly on our side, and a good reason to see home prices continue to increase.

More homeless people have been created due to the housing supply crisis. Homelessness is up 11% since last year, per the WSJ. The opioid crisis, consumer inflation, and NIMBYism have contributed too. California has the most homelessness on both a total and per capita basis. States with higher housing costs have more homeless people. I share our poll results: “Should we pay to house the homeless?” Are you a NIMBY? We find out today. We can increase housing supply with rezoning, construction training, and lower mortgage rates. The cycle of investor emotions led to wild investing manias. It was tulip bulbs in the 1600s Netherlands and Beanie Babies in the 1990s United States.  I discuss exactly why “buy low, sell high” is more difficult than it sounds. Timestamps: The correlation between homelessness and the housing market [00:00:00] Discusses the relationship between the housing market and the increasing problem of homelessness in America. Investing manias and lessons from history [00:00:00] Explores the phenomenon of investing manias and the lessons that can be learned from historical examples. The tight inventory market conditions and potential solutions [00:04:56] Lawrence Yun, Chief Economist of the National Association of Realtors, discusses the tight housing market conditions and suggests tax incentives to increase housing supply. Timestamp 1 [00:10:32] Affordability of moving to different cities and the proposal of a tax incentive for real estate investors. Timestamp 2 [00:11:49] Discussion on the housing supply crisis, mortgage rates, and the homeless population in the US. Timestamp 3 [00:14:14] Increase in homelessness in America, reasons behind it, and the correlation between housing prices and homelessness rates. The impact of high density housing on quality of life and home value [00:21:12] Discussion on the potential negative effects of building high density housing near single family homes, including reduced home value, increased traffic and noise, and loss of nearby open space. Alternative solutions to increase housing supply and reduce homelessness [00:23:30] Exploration of alternative measures to address homelessness, such as trade training for the homeless and relaxing excessive safety requirements in home building. Giving real change to the homeless [00:25:50] Encouragement to give directly to homeless shelters or soup kitchens instead of giving small change to individuals on the street, with the concept of "give real change not small change" explained. Note: The timestamps provided are approximate and may vary slightly depending on the podcast episode. The Origins of Tulip Mania [00:31:37] Tulips were introduced to Europe in the 1500s and became a luxury item for the affluent. The cultivation of tulips locally in the Netherlands led to a flourishing business sector. The Tulip Bubble [00:32:55] By 1634, tulip mania had swept through the Netherlands, with the demand for tulip bulbs exceeding supply. Prices reached exorbitant levels, and futures contracts were being bought and sold. Lessons from Tulip Mania [00:37:53] Tulip mania serves as a model for financial bubbles, with similar cycles observed in other speculative assets like beanie babies, baseball cards, NFTs, and stocks. It highlights the dangers of excess, greed, and speculation without tangible value. The cycle of investor emotions [00:44:32] Explanation of the different stages of investor emotions, from optimism to panic, in relation to stock market investing. The peak of the stock market [00:46:43] Discussion on the peak of the stock market being the point of maximum financial risk and the difficulty of selling at the right time. Real estate as a stable investment [00:51:56] Comparison of real estate investment to speculative bubbles, highlighting the stability and income stream provided by real estate. Explains how the integration of HOA (Homeowners Association) helps maintain uniformity and cleanliness in the rental property investing world. Details about the upcoming real estate event [00:38:31] Promotion of a live event where listeners can learn about new construction fourplexes and have their questions answered in real time. Resources mentioned: Show Notes: www.GetRichEducation.com/463 Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Welcome to Get Rich Education. I'm your host, Keith Weinhold. America's homeless problem has become FRIGHTENING. I describe how that correlates… with the housing market.  Then, investing MANIAS. What drives people to spend more for one tulip flower bulb than they would for an entire luxury home?    And lessons you can learn that'll benefit you the rest of your life from other manias throughout history. All today, on Get Rich Education.   ___________   Welcome to GRE! From Seaford, DE to Carmel-by-the-Sea, CA and across 188 nations worldwide, you're listening to one of America's longest-running and most listened to shows on real estate investing. Along with plenty of ongoing hot takes on wealth mindset and the real estate economy.    I'm your host, Keith Weinhold.    See, the crash in the SUPPLY of available American homes is bad and it isn't just creating more upward prices, it's a contributor to homelessness.    Let's talk about some of the drivers of homelessness, understand the problem a little more, how many homeless people ARE there in America, and then… what can we do about it?   As you'll soon see, one prominent real estate industry influencer actually suggests that you actually SELL your rental single family homes in order to help serve the homeless. More on that shortly.    Also, I have the results from a GRE Instagram Poll. The poll question is: “Should we pay to HOUSE the homeless?”    And the answers that you - the GRE listeners gave… actually surprised me. I'll give you those super-interesting poll results later, because I have more to explain there.   But first, what IS a homeless person? Let's define it. I think most anyone knows that since it's a person without a home, it's thought of as living on the street.   Really, then, that person might not be homeless but “houseless” in a literal sense. Even if they live in a tent under a bridge, that is then, their home. Though it might be INADEQUATE housing.   More accurately, the unsheltered or undersheltered population could be more apropos.     Then there's vagrancy. A vagrant is defined as a person without a settled home OR regular work… who wanders from place to place and lives by begging.   So vagrants are PART of the homeless population then. This all helps DEFINE what we're discussing.   Now, the lack of available American housing supply - especially the affordable segment - is OBVIOUSLY a big contributor to homelessness.   For example, anymore, how many builders even construct a new-build entry-level home for $200 or 250K? Practically nobody… anywhere.   And just how bad is the supply problem now? Well, the NAR has been tracking housing supply since 1982 and it just hit its lowest level ever this summer - EVER - and that's in 40+ years of tracking.    That's one reason why just last week, it was announced that Warren Buffett is making a big bet on housing by investing in homebuilders.   Now to keep consistent with the same stats I've been reporting to you for you, to update that, again 1-and-a-half million available homes is the baseline supply. That's the long-term “normal” per the FRED Active listing count.   And through last month, it's still under 650,000. That is STILL a housing SUPPLY crash of 57% from its peak of 1 ½ million.   I want you & I to listen to this upcoming piece together. This recent interview with NAR Chief Economist Lawrence Yun is from the 8th of this month.   Yes, HE is the one that basically wants you to sell your SF rental properties. And he makes his case for an inducement to get you to do this. (Ha!)   He's not proposing anything COMPLETELY ludicrous. It's REALLY interesting. Listen closely for that.   This about 5 minutes in length and there's a lot of material here within this clip - a nutrient dense piece, so I've got SO much to say about this when I come back to comment.    [Yun clip]    Yeah, the NAR Chief Economist there talking about how, much like I have for years, great opportunity is in the Midwest and Southeastern parts of the US.    With this greater ability for people to work from anywhere, when people move in from the pricy coasts, it's sooo affordable to them.   Moving from Manhattan to Cincinnati feels incredibly affordable.  Moving from San Francisco to St. Louis feels like you've upgraded from serfdom to a kingdom. Moving from Boston to Jacksonville feels like a total life makeover.   That's why, here at GRE, we're focused on properties in those INbound destinations.    Before I continue, especially for those outside the US, I know that it seems a little odd that Ohio and Indiana are in what we call the Midwest when they're actually in the northeastern quadrant of the nation.   But the fact that they ARE midwestern states is rooted in history and in cultural tradition.   So, getting back some new angles on the housing supply crisis.   Lawrence Yun proposed that a tax incentive be introduced to unleash the inventory of SF rentals from individual REIs.    And says that there are over 20 million single-family housing units that are rented out.    If we reduced or canceled the capital gains tax & just got 1% of that inventory on the market, he states that that would help.   Well, yeah, but even that then would only put about 200,000 units of the market - and they'd get snatched up so fast.   Now, if mortgage rates come down to say, 5%, it would unleash both housing demand AND supply.    Both - like Lawrence Yun says. So it's not apparent that that would help this shortage, if both demand and supply go up.   In a nation of about one-third of a BILLION people now - that's how I like to express it this year - America now has one-third of a billion people… also known as 333 million - how many do you think are classified as homeless?   As you think about that - as you think about how many of America's 333 million Americans are homeless, this homeless population figure that I'm about to share with you is from HUD and it's through last year, so it's their latest year-end figure.    And I'll tell ya, it's hard to believe this number. The Department of Housing and Urban Development states that about 582,000 Americans are experiencing homelessness.   Now, how HUD does this is that their number is a snapshot of the homeless population as of a single night at the end of January each year.    The total number of people who experience homelessness for SOME PERIOD each year will be higher than that.   I just did the math and then that means that just 1 in every 572 Americans are homeless. C'mon. Do you believe that? Only one in every 572 Americans are homeless?   I might believe that it's something like more than 1 in 200. What are your thoughts?   Even HUD would probably concede that there are shortcomings in that stat and that it's only a starting point.   And over the last decade, according to HUD, the homeless population is little changed… apparently until just this past year.   Homelessness is surging in America. The number of people experiencing homelessness in the US has increased 11% so far this year over 2022. That would be the biggest jump by far in equivalent government records beginning in 2007.   Now this 11% homeless jump is according to a WSJ analysis of hundreds of smaller & local agencies.    Most  agencies say the alarming rise is because of the lack of affordable housing and rental units, and the ongoing opioid crisis.   Inflation is part of that affordable housing problem. Inflation widens the disparity between the haves and have-nots.   To cut some slack to census-type of surveying, homelessness can be hard to measure. Some live on skid row, some live in the woods, some homeless people live in their cars.    Some aren't interested in being counted. Others are essentially invisible. I mean, if someone's between jobs and needs to couch surf at their aunt and uncle's place for three months, are they homeless or not? So, to be sure, there's a lot of leeway in those numbers.   One in 572 as homeless - that should just be a minimum - a starting point in my opinion.   Now, homelessness broken down by STATE is really interesting.   California at 171,000, has the most of any state, more than double of next-most New York, and then Florida is third.   But let's break that down by rate - on a per capita basis. So… think of this as the highest CONCENTRATION of homeless:   Washington DC has 65 homeless per 10,000 people. That's not really a state though, so…   #1 on a per capita basis is STILL California, with 44 per 10,000. So California leads in the nation in homeless on both bases then - both absolute and relative.   The second highest rate is Vermont.  Third Oregon Fourth Hawaii Fifth is New York And then numbers 6 through 10 on the most homeless per capita are Washington, Maine, Alaska, Nevada, and Delaware.   Now, strictly anecdotally. You've probably seen just what I've seen in the last year-plus - more visible homeless people in your city and other cities.   The state with the FEWEST homeless of all 50 states is Mississippi - and see, housing is quite affordable there. MS is one of the most affordable states for housing.    There is at least SOME correlation between your cost of housing and homelessness.   Recently on our Instagram page, and the handle there is easy to remember - it's @getricheducation - if you want to participate in future polls, we ran a poll on homelessness.   Here is the poll question that we ran - and I'd like you to think about your answer to this too.   “Should we pay to house the homeless?”    That's the question.    And in polling, the way that the question is phrased, of course, can skew your answer.    See, if instead, we phrased it as, “Should the government house the homeless?” you might have more ‘yes' answers - even though it's the same question - because you FUND the government.    But the question as we phrased it: “Should we pay to house the homeless?” - it also showed a photo of vagrants on a street curb under the question.   Here we the results, which surprised me, to:  Should we pay to house the homeless?   Those answering “Yes” were just 6% The no's were 45% But we also had a third option: “It's complicated”. 48% answered with that option.   So again, just 6% of you said we should pay to house the homeless and 45% said “no”. “48% said it's complicated”.   In a way, that makes sense to me since we have a largely entrepreneurial, self-made type of audience. I thought that might have happened.   But what surprised me is in how emphatic it was. It was a landslide. 7 to 8 TIMES as many of you said we should not pay for the homeless as those that said we should.   Well, the reason that I added - and I'm the one that ran the poll myself - they're quick to do. I added the paying to house the homeless “It's complicated” option because it IS complicated… that WAS the most popular answer.   I mean, why should you go to work and pay to house a stranger that has no income because he or she doesn't want to work?   But what if they're disabled and they can kinda work but not really work… or a zillion other complications.    Substance abuse is obviously a big problem that keeps homeless people homeless… and there's a substantial thought paradigm that says, if they're an abuser, then why would I pay for THEIR housing?   Substance abuse is just one reason that there is a population that's VOLUNTARILY homeless. They don't want to have to comply with a group home's ban on substances.    I wanted to address the homeless problem somewhat today, because here we are on Episode 463 of a real estate show and this is the most that we've even discussed it.   I think the perspective it gives you is that it helps you be grateful for what you've got.    But it's abundance mentality here. You can be grateful for what you have and at the same time, grow your means.   What else would help with more housing supply which would also move us toward mitigating the homeless problem?   Well, we've already discussed a number of them so I'll only go in depth with some fresh angles here.   Obviously, more homebuilding. We've done episodes on how 3D printed homes and shipping container homes are not quick, easy answers. Tiny homes might be but then you could get into a zoning density problem again.   Just last week, my assistant brought me this Marketwatch article that reported that the average American home size is shrinking just a little & that often times, new-build houses tend to be a little closer together.   That's what gets us into relaxing zoning requirements. But you know something, OK, this is going to be interesting.    This plays into NIMBYism. Not In My Backyard: communities saying that they don't want high-density housing built next to them.    Now, I think that there are a lot of critics of NIMBYism. But the criticism comes from people that live far out of that area and aren't affected.   Let me just play a fun little experiment with you here. Let me paint a picture of a fictitious life for you and just… place yourself there.   Say that you live in a nice single-family home, with a quarter acre lot. It's not a sprawling estate but you've got a good measure of privacy that way.   You're in a SFH, quarter-acre lot and two car garage. That is classic suburbia.   And… just a hundred yards away from your home there's a big, wide-open field where you walk your dog and use as a little makeshift golf driving range or whatever. Nice open space nearby.   Say you've got a fairly idyllic life here. It's always been this way since you bought the home years ago.   Suddenly, in your neighborhood of all SFHs, you learn that they want to build a bunch of fourplexes in the nearby lot where you used to throw tennis balls to your dog.   What can that do to your quality of life & your home's value, now that a bunch of new fourplexes and eightplexes were built nearby?   It reduces your home's value because there are less valuable, high density properties nearby.   It also increases the amount of traffic & even noise in your neighborhood. Now you can't use that nearby park anymore - it's been all-built up with these higher-density apartments.   So, let me go back and ask - point blank - did you really want all those new high-density developments near your home?   If that made you uncomfortable, that's NIMBYism. So it's quite natural to evoke that feeling type. You're just a human being.   How else can we increase housing supply to help reduce homelessness?   NOT with rent control. Over time, capping the amount of rent that a LL can charge gives property owners no incentive to improve their property and neighborhoods end up dilapidated.   We need more training for tradesman and laborers. How about training the homeless for that? But then someone's got to pay for that training.   Another measure that's become ridiculous is that we've gotta relax these excessive safety requirements in homebuilding. Now, some safety is good.   But when every single home - entry-level and all needs to have fire-rated shingles and fired-rated doors and GFCI outlets and smoke detectors in every room and carbon monoxide detectors all over the place, sheesh! Well, that raises the cost of housing for everyone.   In some earthquake-prone areas, you've got to have seismic restraining straps on your water heater or you can't even sell your home. Do you know how big of an earthquake it would take to damage your water heater like that?   And an excessive safety PROPONENT might say, yeah, but did you hear about that one family that died ten years ago that would have lived if they had carbon monoxide detectors?   Well, the counterargument to that is, yeah, but what about all the homeless people that were exposed to the elements and died in the cold because they couldn't AFFORD the more basic housing, the prices of which have escalated for all this excessive safety stuff.   Are you saying a middle class person's life is worth more than a poor, homeless person's life? That's the counterargument.    Again, some safety is good. But we've gone overboard in too many places - in housing & beyond.   Rising housing costs keep people homeless. A few weeks ago, I did that episode about escalating insurance costs.   I now own some properties that have extremely low mortgage rates and the insurance has gone up to the point where I pay more in monthly escrow expenses than I do principal & interest.    But, hey. I'm not homeless, and if you're listening to this, neither are you.   So when it comes to helping the homeless in the short-term, that campaign called, “Give real change, not small change.” - that really resonates with me.   Don't give 5 bucks to a vagrant on the corner. That just keeps them showing up at that corner, plus they're going to spend your 5 bucks on a cheap bottle of Monarch vodka.   Instead, if you're going to give, give to a homeless shelter or soup kitchen.    That's what's meant by “Give real change, not small change.” And that's something actionable.   Coming up next, investing MANIAS. How wild it gets - paying more for a tulip flower than a SFH, shooting and killing someone over a Beanie Baby toy… and then I'm going to wrap it all up with what all this has to do with the cycle of your investor emotions.   Around here, we don't run ads for the Swiffer. This week's sponsors that support the show are people that I've personally done real estate business with myself and have benefited from.    Ridge Lending Group specializes in INVESTMENT property loans in nearly all 50 states. Start your prequalification at: RidgeLendingGroup.com    Then, for super-passive real estate returns, check out Freedom Family Investments. Right now, what you can do, is just text “FAMILY” to 66866.   I'm Keith Weinhold. You're listening to Get Rich Education. ___________ Welcome back to the GRE Podcast. I'm your host and my name is Keith Weinhold.    If you've got a friend or family member that you think would benefit from the knowledge drops here on the show, you can simply tell them to grab the free Get Rich Education mobile app.   That's a convenient option for listening every week for both iOS and Android.   Today's topics of homelessness and investing manias could very well bring a new audience here, so…    A little more about my backstory. I'm from PA but got my real estate comeuppance in Anchorage, Alaska of all places & grew out nationally & internationally from there. I had humble beginnings and wasn't born anywhere near wealthy. I had to figure out how to build it myself.   But see, if I were born wealthy, I wouldn't have learned how to build it, and then I wouldn't be of much help to you. Likewise, if you're building it yourself, you'll be able to help others too.   BTW, I was born in the same PA town as Taylor Swift.    Though she & I don't have much ELSE in common, I guess that she & I are both best-known for using a microphone.   Though I think that I'm about as likely to start using this microphone to sing into your ears like Taylor Swift does… as Taylor is to launch a real estate investing show.   For hundreds of years, the tulip has been one of the most-loved flowers in the Netherlands. It's an enduring icon - as synonymous with the country as clogs, windmills, bicycles, and cheese. The tulip has a long and storied history - including the infamous shortage in the 1600s known as “tulip mania”. If you're someone that has even a fleeting interest in investing, you should at least know what this is.   Tulips first appeared in Europe in the 1500s, arriving from the spice trading routes… and that lent this sense of exoticism to these imported flowers that looked like no other flower native to the continent. It's no surprise, then, that tulips became a luxury item destined for the gardens of the affluent.  According to The Library of Economics and Liberty, “it was deemed a proof of bad taste in any man of fortune to be without a collection of [tulips].” Hmmm. Well, following the affluent, the merchant MIDDLE classes of Dutch society sought to emulate their wealthier neighbors and also demanded tulips. So to start out with, it was purchased as a status symbol for the sole reason that it was expensive. But at the same time, tulips were known to be notoriously fragile, and would die without careful cultivation. In the early 1600s, professional cultivators of tulips began to refine techniques to grow and produce the flowers locally in the Netherlands. They established a flourishing business sector that persists to this day. By 1634, tulipmania swept through the Netherlands. The Library of Economics and Liberty writes, “The rage among the Dutch to possess tulip bulbs was so great that the ORDINARY INDUSTRY of the country was neglected, and the population, even to its lowest dregs, embarked in the tulip trade. Now, everyone's in - rich to poor. It's a little hard to say for sure how much people paid for tulips.  But Scottish journalist Charles Mackay, wrote an extremely popular 1841 book - you've probably heard of this book - it's called the Memoirs of Extraordinary Popular Delusions and the Madness of Crowds… It does give us some points of reference such that the best of tulips cost upwards of $1 million in today's money (but a lot of bulbs traded in the $50,000–$150,000 range).  By 1636, the demand for the tulip trade was so large that regular markets for their sale - like a little Dow Jones Industrial Average - got established on the Stock Exchange of Amsterdam, in Rotterdam, Haarlem, and other towns. It was at that time that PROFESSIONAL TRADERS got in on the action - that's all that some people do now - is trade tulips… and everybody appeared to be making money simply by possessing some of these rare bulbs.  Dutch speculators at the time spent incredible amounts of money on bulbs that only produced flowers for a Week—many companies were formed with the SOLE PURPOSE of trading tulips.  To everyone, at the time, it seemed that the price could only go up forever. Pretty soon, demand for tulips EXCEEDED THE AVAILABLE SUPPLY of tulips by so much that people were into buying futures contracts, basically saying, I'll pay you this much money TODAY for a tulip that you provide to me in 3 years. By the last 1630s, these futures contracts were like a crack that appeared in the price runup. Demand began to wane when people were just buying a token for a future tulip that hadn't even started growing yet.  People felt like they weren't buying anything tangible anymore. That's one factor that helped create an oversupply of tulips in the market and started depressing the prices. Supply caught up with - and exceeded - demand. A large part of this rapid decline was driven by the fact that people had purchased bulbs on credit, hoping to repay their loans when they sold their bulbs for a profit. But once prices started to drop, holders were forced to sell their bulbs at any price and to declare bankruptcy in the process. So people had begun buying tulips with leverage, using margined derivatives contracts to buy more than they could afford. But as quickly as the run-up began, confidence was dashed. By the end of 1637 is when prices began to fall and never recovered.   And the bubble burst. Buyers announced that they could not pay the high price previously agreed upon for bulbs, and that made the market fall apart.  While it wasn't actually a devastating occurrence for the entire nation's economy, it did undermine social expectations. The event destroyed relationships built on trust and people's willingness and ability to pay. It's been said that “the wealthiest merchants to the poorest chimney sweeps jumped into the tulip fray, buying bulbs at high prices and selling them for even more.” Well, this is what can happen - today it happens with financialization and nothing real backing up purchases. Tulipmania is a model for the general cycle of a financial bubble. That's what happened with Dutch tulips. Now, here in more recent times, similar cycles have been observed in the price of Beanie Babies, baseball cards - I got caught up in the baseball cards as a kid, owning more than 100,000 baseball cards at one time, also non-fungible tokens (NFTs), and shipping stocks.       The example of tulipmania is now used as a parable for other speculative assets, such as cryptocurrencies today or dotcom stocks from around the year 2000. So, when you hear someone likening an investment to a Dutch tulip bulb, now you'll know what they're talking about. It's a symbol of excess, greed, and FOMO. But there has been a good bit of more modern scholarship that tells you that tulip mania did indeed occur in the 1600s Netherlands. But that the tale has been exaggerated and it's something that the upper classes of society were mostly involved in. Now, that's the Dutch tulip bubble. But for a more modern-day parable about an investing mania, there's a new movie about the rise & fall of BEANIE BABIES that's on Apple TV+. These were little stuffed, plush toy animals that became more popular among adults than children. The rise and fall of Beanie Babies—toys that people mistakenly thought would make them rich. The movie is called “The Beanie Bubble”.  It's a MOSTLY TRUE account of the lovable toys' boom and bust in the '90s -  comparable to the meme stock frenzies that took place during the Covid-19 pandemic. These $5 pellet-stuffed plush toys had astronomical appreciation estimates: Stripes the Tiger, released in 1996, was predicted by collectors to surge from $5 to $1,000 by 2008.  Forecasts like these were so enticing that one dad invested his kids' college funds in Beanie Babies, thinking he'd resell them later for a hefty profit. At the height of the frenzy, people were ruining relationships and committing felonies to get their hands on some of these sacks of fuzz. Border officials confiscated more than 8,000 smuggled Beanie Babies at a US–Canada border crossing in 1998. A West Virginia man shot and killed a former coworker in 1999 after an argument partly about $150 worth of Beanie Babies. That same year, a divorcing couple couldn't agree on how to split up their collection, so the judge made them divvy up the toys in person, right on the courtroom floor. How did that all happen? Barely anyone cared about Beanie Babies when a company called Ty Inc. launched them in 1994. Stores only got lines out the door once the toy's creator, now-billionaire Ty Warner, began pulling strings to juice demand. Here's what Warner did. OK, so here's how you induce people into a speculative bubble. He refused to stock Beanie Babies at Toys R Us and Walmart. Instead he created an illusion of rarity by only selling them at small toy stores and independent shops. Even if you did find a retailer, every store's supply of Beanie Babies was limited to 36 of each animal, so inventory restocks drew a crowd. This, combined with Warner's decision to start “retiring” certain animals in 1995, created artificial scarcity and a mass panic to stock up on Beanie Babies.  Soon, an aggressive resale market was born, replete with magazines and blogs and even trade shows for these Beanie Babies. One woman's guide to the secondary Beanie Babies market got so popular that she was selling 650,000 copies per month and, on many days, she did two or three radio interviews before her kids woke up for school. Ty Inc. later gave her an award for boosting sales. At Peak Beanie mania, Ty Inc. and legions of speculators actually made hordes of money: The stuffed animals accounted for 6% of eBay's sitewide sales in 1997 and 10% in 1998. Beanies averaged a resale value of $30—six times their retail price—but rare ones, like the Princess Diana bear, went for hundreds or thousands of dollars (and now you can find one online for $15 bucks). Ty Inc. hit $1.4 billion in sales in 1998, which is what Mattel grossed in Barbie dolls in 1995. At the end of the year, Ty Warner gave all ~250 employees holiday bonuses equal to their annual salaries. But most regular people didn't sell their Beanie Babies at their peak price. And unfortunately for them, the hype subsided. Anticipating a drop in interest as more kids reached for Pokémon and Furbies, Ty Inc. announced it would stop making Beanie Babies at the end of 1999, and that poked a hole in collectors' this-will-never-not-be-popular mentality and that sent demand plummeting. There were no underlying fundamentals to Beanie Babies' value. That's all that I've got on that speculative craze.   So let's review how this happened with both speculative crazes - Dutch tulips and Beanie Babies: Investors lose track of rational expectations. Psychological biases lead to a massive upswing in the price of an asset or a sector. A positive-feedback cycle keeps inflating prices. And soon, investors realize that they are holding an irrationally-priced asset. Prices collapse due to a massive sell-off, and an overwhelming majority go bankrupt. Now, much stock market investing is based off of buy low and sell high mentality. And stock investors can get caught up in similar crazes.    But because many stocks are tied to productive companies, the stock investor deals with smaller bubbles. A lot of times, the stock price can double, triple, or even 10X even though that company is not even profitable. Buy low & sell high. Well, that sounds easy. But why is this harder to do than it sounds? It's called the cycle of investor emotions.   It starts here with… optimism. Because you HEAR about 10% stock returns or people making money with Dutch tulips or Beanie babies.    Let's say that you aren't fully invested in the stock market. But some friends are, and they're achieving small gains.   Then comes excitement. The market is now up some more. Hey, what's in motion tends to stay in motion.   More friends are telling you how much money they're "making".    You're soon experiencing a full-blown case of FOMO—Fear Of Missing Out.   The next stage is the Thrill you feel. So you jump into the stock market fully, rationalizing with something like, "Hey, I'm a momentum investor". Sounds pretty good, I guess.   Now that you're in, it actually feels fantastic to you for a short time. You figure that some days, you're making more from stocks than your job. Winning activates dopamine.    Dopamine is a brain chemical that's known as the “feel-good” hormone. It gives you a sense of pleasure. It also gives you the motivation to DO SOMETHING when you're feeling the pleasure.    So then, you add MORE shares… at an elevated price until you are FULLY invested. Now everyone is "making money", even your Uber driver.   The next stage is Euphoria - The peak! As you can see, this is the Point of Maximum Financial Risk.    OK, now, remember the simplicity of “buy low, sell high”?   Well then, savvy stock investors should now be SELLING here in my example - at the HEIGHT.   Now be “selling”? Leaving the party at its crescendo? Stopping the dopamine flow? Yes, exactly… and THAT'S why it's so difficult.    What happens after the stock market peak? Overbought, with bloated price-to-earnings ratios, the market soon drops 10% from its recent high.    That's what's known as a correction - a drop of 10% or more. Now you feel a little ANXIETY. Your dopamine flow is stifled.   Next, you tell yourself, "I shouldn't be worried because I'm a long-term investor." It's down 15%. You're experiencing DENIAL & FEAR.   Now you're checking the Robinhood app almost hourly to see if it will recover.   Next, comes Desperation & Panic - Stocks are down 20%, that's the definition of a bear market. You're devoting more mindshare to this each day than what's healthy.   Then there's Capitulation - Down 30%, you finally surrender to a FEAR of FURTHER LOSS. You're getting so sick of months of losing. You finally do it and cash out your stocks into a safe money market fund. Now you're out.   And you rationalize and justify doing this because you tell yourself, "You know, at least when I wake up tomorrow, I'll know that I haven't lost money AGAIN. And THAT gives me certainty.”    The next stage in the Cycle of Investor Emotions is Despondency - You realize that what you've done is the polar opposite of successful investing. It's complete. You've now bought high… and then sold low.    Next, stocks completely bottom out. But this is actually the Point of Maximum Financial Opportunity. Instead, you should be buying.   But you can't. Because you're experiencing the next investor stage - Depression. You're so full of contempt for the situation that the idea of actually buying at bargain-basement levels again is simply inconceivable. You've been burnt badly.   Then, there's Hope & Relief - The market has begun ticking up after the crash. It soon should be clear that share prices are FAIRLY VALUED again.    But you don't buy the recovery story. You wait until enough price growth occurs that the confidence and Optimism stage is felt again before you'll even consider getting back in and buying.   And the entire pattern repeats.   That's the “cycle of investor emotions”. There's an average of 3-and-a-half years between each stock bear market, BTW.   Of course, we've been kind to call this all “investing”. It's more like speculating.   But here's the real problem—most investors THINK they're better than average stock pickers, so they keep playing this game. This effect has a name. It's called illusory superiority.   It's like how at least 70% of people think they're better than average drivers, despite the statistical impossibility.   Even professional money managers fall prey to this! Fewer than 10% of active U.S. stock funds manage to beat THEIR benchmarks.   The renowned British economist and value investor Benjamin Graham once said: "The investor's chief problem—even his worst enemy—is likely to be HIMSELF." Well, as real estate investors, we largely SIDESTEP the cycle of investor emotions for two main reasons.   Returns are more stable.   Real estate, we sidestep this emotional roller coaster. Not only do we have stable prices, but appreciation is one of just 5 ways that you're simultaneously paid.   RE also has monthly income. Dutch tulips or Beanie Babies don't pay you a durable monthly income stream. They don't provide an income stream at all.   And finally, RE is a REAL asset that fulfills a REAL human need.   I hope that you enjoyed this journey through speculative bubbles today and how they play into human psychology and investor emotions.   Go ahead and tell a friend about Get Rich Education.   If you've got a friend or family member that you think would benefit from the knowledge drops here on the show, you can simply tell them to grab the free Get Rich Education mobile app.   That's a convenient option for listening every week for both iOS and Android.   My name's Keith Weinhold and I'll be back with you right here… next week. Don't Quit Your Daydream!

In this Real Estate News Brief for the week ending July 29th, 2023… the Fed's latest rate hike, how the central bank's economic forecast has changed, and good news about the dreaded IRS “knock on the door.”   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week and a Fed meeting that resulted in yet another rate hike. The Federal Reserve raised the benchmark rate a quarter point, to a range of 5.25% to 5.5%. That's the highest it's been in 22 years.    In a news conference after the meeting, Fed Chief Jerome Powell said that inflation has moderated somewhat, but the 2% target is still a ways off. He wouldn't say whether Fed officials are leaning toward another rate hike in September. He said it would be a meeting-by-meeting data-driven decision.   A few of the other highlights from the Fed Chief's press conference:   1 - The central bank is no longer expecting a recession because of higher rates. It is now predicting an economic slowdown, and a return to the “soft landing” idea. The latest report on the GDP shows the economy growing at an annual rate of 2.4% in the second quarter.   2 - The Fed keeps an eye on lending conditions and acknowledges that lending conditions are tighter and could tighten further. But as the Fed Chief commented, he doesn't expect it will be a dramatic pullback on the money supply.   Higher interest rates are giving consumers one nice reward – higher interest rates for savings accounts and CDs. As reported by MarketWatch, it's already possible to find CDs that are paying 5.75% and high-yield savings accounts that are offering more than 4%.   And to end the week on a really positive note, the Labor Department released the latest PCE report. It shows that inflation rose a tiny .2% in June. That brings the annual rate down to 3% from 3.8%. The core rate rose at the same .2% bringing the annual core rate down to 4.1% from 4.6%.   The job market remains very tight. Jobless claims were down for a third week in a row. They fell 7,000 to a total of 221,000. There was also a big drop in continuing claims. They were down 59,000 to a total of 1.69 million.    As for housing, existing home sales ticked higher for the first time in four months. The National Association of Realtor reports that contract signings were up .3% in June, although that number is still 15.6% lower than the previous June. NAR economist Lawrence Yun says the turnaround in sales indicates that the housing recession is over. He also cites increased home builder activity and a growing number of multiple offers among buyers competing for a tight supply. And that's despite high interest rates.   New home sales lost a little momentum in June. According to the Commerce Department, they fell 2.5%. This number is volatile and often revised, however.   Mortgage Rates   Mortgage rates held steady this last week. Freddie Mac says the average 30-year fixed-rate mortgage was up 3 basis points to 6.81%. The 15-year was up 5 points to 6.11%.   In other news making headlines…   Landlord Tenant Role Reversal for Office Leasing   Office landlords are experiencing something new in the midst of all the office leasing distress. Prospective tenants are now asking landlords for proof that their finances are stable, some are even asking for a look at their books. That's typically something that a landlord may want from a tenant, but not the other way around.   As CBRE's Mary Ann Tighe told Bisnow: “It's not enough to just say, ‘You know, we have bulletproof institutional dollars behind us. The landlords still want to know about the credit of their tenants, but the tenants now say, ‘OK, I'll show you mine. You show me yours.”   IRS Says No More Surprise Visits!   The IRS announced a major policy change regarding surprise visits from agents. It's a policy that has been in place for decades to send agency employees to homes and businesses to collect unpaid taxes or unfiled tax returns. But this past week, the IRS said that those unexpected visits will be replaced by mailed letters with a request to schedule a meeting.   The change in policy is part of an effort to transform the IRS. IRS Commissioner Danny Werfel says: “Changing this long-standing procedure will increase confidence in our tax administration work and improve overall safety for taxpayers and IRS employees.”   That's it for today. Please remember to hit the subscribe button, and leave a review! If you want to learn more about how you can become a wealth-building real estate investor, hit the join for free button on our website.   Thanks for listening. I'm Kathy Fettke.   Links:   https://www.cnbc.com/2023/07/26/fed-meeting-july-2023-.html?&qsearchterm=fed%20approved%20hike%20that%20takes https://www.marketwatch.com/story/fed-no-longer-sees-a-recession-and-other-things-we-learned-from-powells-press-conference-ef98d718   https://www.marketwatch.com/picks/were-already-seeing-some-cds-with-5-75-apy-now-that-the-fed-hiked-interest-rates-again-might-rates-climb-higher-de14c37f   https://www.marketwatch.com/story/gdp-increases-at-2-4-annual-pace-in-the-second-quarter-7e548aed?mod=home-page   https://www.marketwatch.com/story/u-s-inflation-slows-again-pce-shows-966aa14c?mod=economy-politics   https://www.marketwatch.com/story/jobless-claims-drop-to-the-lowest-level-since-february-51cea584?mod=economic-report   https://www.marketwatch.com/story/s-p-case-shiller-shows-u-s-home-prices-up-for-fourth-straight-month-in-may-9190cfd0   https://www.marketwatch.com/story/newly-built-u-s-home-sales-fall-in-june-6123fd72   https://www.nar.realtor/magazine/real-estate-news/economy/nar-economist-housing-recession-is-over   https://www.freddiemac.com/pmms   https://www.marketwatch.com/story/the-housing-recession-is-over-real-estate-group-says-as-pending-home-sales-tick-up-for-the-first-time-in-4-months-2d4cce4f   https://www.bisnow.com/national/news/office/landlord-finances-owners-open-books-119930   https://www.bisnow.com/national/news/office/amazon-return-to-office-relocating-workers-major-downtown-hubs-119926   https://www.irs.gov/newsroom/irs-ends-unannounced-revenue-officer-visits-to-taxpayers-major-change-to-end-confusion-enhance-safety-as-part-of-larger-agency-transformation-efforts    

Are starter homes a thing of the past? Did the Fed just win? I provide commentary and perspective on both. Hear clips from: Donald Trump, Jamie Dimon, and Jerome Powell. Then, I answer four listener questions: Should I make my first real estate investment a new development from raw land? Does it make sense to sell some rental properties, pay off others, and make my life easier? My returns are down because my property repair bills are higher than expected. What should I do? Since the government has high debt, won't they keep printing dollars? If you have a listener question, ask it here: GetRichEducation.com/Contact Timestamps: The state of the real estate economy [00:00:01] Home prices and housing supply [00:01:33] Analysis of home prices reaching new highs, the decrease in new listings, and the impact on housing supply. Mortgage rates and the future of interest rates [00:03:54] Insights on the direction of mortgage rates, the unlikelihood of rates returning to the 3% range, and the opinions of Lawrence Yun, the chief economist at the NAR. The Fed's Soft Landing [00:10:31] Discussion on the Federal Reserve's efforts to control inflation and maintain economic stability. Building Development as a First Investment [00:12:49] Advice on whether it is a good idea for beginners to invest in land development and the challenges involved. Acquiring More Property or Paying Down Debt [00:19:02] Advice on whether to continue acquiring properties or pay off existing debt and downsize for a more enjoyable life. The philosophy of debt [00:21:11] Debt can be beneficial and indicate wealth, as seen in examples of successful individuals with high levels of debt. Managing repair costs for rental properties [00:24:18] Charging tenants for the first portion of repair bills can incentivize them to make minor repairs themselves and reduce long-term repair costs. Inflation and government debt [00:30:12] Inflation can debase government debt, reducing its value, similar to how it affects personal debt. The US government's ability to print money allows for easier repayment of debt. The housing supply and marketplace [00:31:30] Discussion on the historically low US housing supply and the importance of staying up to date with the inventory and other elements in the real estate market. Resources mentioned: Show Notes: www.GetRichEducation.com/459 Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Find cash-flowing Jacksonville property at: www.JWBrealestate.com/GRE Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Speaker 1 (00:00:01) - Welcome to GRE. I'm your host, Keith Weinhold. First, I'll discuss the surprising state of the real estate economy. Then I answer your listener question Should I develop and build property myself? How do I keep my rental properties repair bill down? And two questions about real estate debt all today on Get Rich Education with real estate capital Jacksonville. Real estate has outperformed the stock market by 44% over the last 20 years. It's proven to be a more stable asset, especially during recessions. Their vertically integrated strategy has led to 79% more home price appreciation compared to the average Jacksonville investor since 2013. JTB is ready to help your money make money and to make it easy for everyday investors. Get started at JWB Real Estate.   Speaker 2 (00:01:01) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Speaker 1 (00:01:24) - Welcome to the area from Warsaw, Poland, to Warsaw, Indiana, and across 188 nations worldwide. And Keith Weinhold in your listening to Get Rich Education.   Speaker 1 (00:01:33) - Earlier this month, CNBC reported that home prices have hit new highs again, another up just slightly year over year, though the popular sentiment is that by now people have gotten used to paying 7% or even more than 7% mortgage rates and higher rates. That puts the squeeze on housing supply. I mean, gosh, within this era of already paltry supply, I mean, we're talking about direly few homes in some markets here. Nationally, new listings are down 25% from a year ago. All right. Now, that's all national stuff. But look now, just over half of the nation's 50 largest housing markets and they're mostly in the Midwest and Northeast. They have either returned to their prior price peaks or they have set new all time highs. Annual home prices are still weaker out west, but even some of the Western markets has slumped. They're now seeing month over month gains. Yes, we're talking about gains now even in San Jose, San Diego, Los Angeles, San Francisco and Seattle. Now, look, our starter homes, a thing of the past.   Speaker 1 (00:02:47) - Some now think so with these higher prices. Just listen to this from an NAR survey, 40% of millennials who bought homes last year, they plan to stay in them 16 years or more. And for Gen Z, that number jumps up to 48%. Now, who knows if they'll really stay in those homes at that long. But see, what's going on here is just affirmation that so many buyers don't plan to trade in their starter home for a move up home. They got their starter homes when rates were low, though starter homes are not coming onto the market, potential sellers have ghosted the market, making for fewer listings and those fewer listings. That's what's fueling the price growth. So yes, starter homes could largely be a thing of the past, but of course not completely. Now, just two weeks ago here on the show, Jim Rogers told us why long term, he thinks interest rates will go much higher and opinions can be all over the place. So I don't want to get too bogged down in that.   Speaker 1 (00:03:54) - But shorter term, one prominent commentator, he is now emphatic that mortgage rates have hit their top, like, for example, hit their top for perhaps this year and next year. Lawrence Yun, chief economist at the NAR on the direction of mortgage rates. He says, quote, This is the top. It will begin to move down. But you can also says if you're a US home buyer waiting for a return to super low mortgage rates, don't hold your breath. The short lived era of 3% interest rates for 30 year fixed mortgages, that is over, and they are unlikely to return anytime soon, perhaps for decades. He goes on to say that one can never truly predict the future but don't see mortgage rates returning back to the 3% range in the remainder of my lifetime. That is all of what Yun said. Okay. The remainder of Lawrence Hoon's lifetime, he looks pretty healthy and that might be 40 years, 40 plus years. Did we see rates that low again, according to him? Now, did you see this? We posted this in our Instagram stories as our curious article of the week last week.   Speaker 1 (00:05:07) - The Washington Post get a hold of this title. They published an article and it was titled The Housing Market Recession is Already Ending. My preeminent thought is the housing market recession is already ending. That's a curious headline. What housing market recession? I don't get it. And the subtitle doesn't help. It's subtitled Last year's downturn in the housing market didn't last even with higher interest rates. Now prices are stabilizing. Is supply chains have eased up. All right. Well, even with actually reading the complete article, I don't know what they mean by a housing market recession last year. I guess that national home prices stopped appreciating last year and they just stabilized. But I don't know how the heck you get a recession out of that. Maybe with low housing supply, there were fewer transactions and that was being considered a recession. Now, look, I'm going to posit something really unpopular here in today's climate, but I think that this is a question that you really need to ask yourself today, and that is, did Jerome Powell just win? I told you it was unpopular.   Speaker 1 (00:06:20) - He's not a very well liked. Person in a lot of circles. But with CPI inflation at 9% last year and 3% now. Yet throughout this spin, we had a few banks that broke but no recession. Is it possible that Jerome Powell has engineered a soft landing? I've got more on that in a moment. But the actual person of one, Donald, John Trump, made some quick remarks about the economy this month. Let's listen in.   Speaker 3 (00:06:52) - We've never had an economy like we had just three years ago. It was unbelievable. And frankly, this economy is not doing well. But the reason it's doing okay is it's running on the fumes of what we built. But those fumes are running out and they're running out fast. And it's not going to be a pretty picture.   Speaker 1 (00:07:11) - Yeah, I don't know about that. When we look at the broader US economy, let's get something more substantive. And speaking of people that aren't well liked, Jamie Dimon had some great perspective. I think you know that he's the billionaire business exec and the banker that's led JPMorgan Chase since 2005.   Speaker 1 (00:07:30) - To put it another way. This man runs the largest bank in America.   Speaker 4 (00:07:36) - It's the other way around. America has the best hand ever dealt of any country on this planet today ever. Okay. And Americans don't fully appreciate what I'm about to say. We have peaceful, wonderful neighbors in Canada and Mexico. We've got the biggest military barriers ever built called the Atlantic and the Pacific. We have all the food, water and energy we will ever need. Okay. We have the best military on the planet, and we will for as long as we have the best economy. And if you're a liberal, listen closely to me in that one, okay? Because the Chinese would love to have our economy. We have the best universities on the planet. There are great ones elsewhere. But these are the best. We still educate most most of the kids who start businesses around the world. We have a rule of law which is exceptional. If you don't believe me and we talk about Britain, Brazil, Russia, India, Venezuela, Argentina, China, India, believe me, it's not quite there.   Speaker 4 (00:08:29) - We have a magnificent work ethic. We have innovation from the core of our bones. You can ask anyone in this room what you can do to be more productive. Ask your assistants, factory floors, redo it. It's not just the Steve Jobs. It's this broad death with the wires and deepest financial markets the world's ever seen. Okay. And if you. I just made a list of these things and maybe I miss something. It's extraordinary. It's extraordinary. And we have it today. Yes, we have problems. But, you know, when I hear people down, if you travel around the world, I mean, get an airplane, travel around the world and go to all these other countries and tell me what you think.   Speaker 1 (00:09:02) - Yeah, Jamie Dimon really bringing up a lot of those geographic advantages like Peterson and I discuss in depth here Diamond's remarks. They're not new remarks. Those weren't recent ones. And by the way, I don't really care for him calling out liberals, just like labeling people conservatives.   Speaker 1 (00:09:20) - That's counterproductive. I like the quality of ideas as soon as we start labeling things left or right, that quickly becomes more divisive than it does unifying. Don't do left right politics. I do. Up, down, up is integrity. The quality of your ideas concepts means for getting things done and track record. That's what matters. But anyway, coming off Jamie Dimon waxing poetic with American optimism and exceptionalism. Yeah, it is time to ask if the Fed is winning. And first, let's understand something fundamental The fact that high inflation occurred for two years that is irreparable. Let's not overlook that. I mean, you're Trader Joe's grocery store prices. They're not coming back down even if the rate of inflation has slowed. I mean, that is a big fat L, That is a loss. It came from printing all those dollars to paper over the pandemic, which created the high inflation with everything from the paycheck protection program to Stemi checks to the Cares Act. And yes, the executive branch created some of that too.   Speaker 1 (00:10:31) - But my point is, make the irresponsible people that don't have any savings feel some pain once in a while. If you just make money fall from the sky every time there's a crisis, then people are going to learn to not have any reserves or any cash flowing investments during the next crisis. Yes, supply chain constraints are part of the problem too. But since you tried to paper over the pain, see then creating that inflation that results, that makes everyone feel the pain that's middle class or below. All right. But after that understanding, is Jerome Powell now winning by landing the inflation softly without crashing the economy and keeping GDP rising a little in keeping unemployment low in see even the producers price index that's forward looking that measures this change. In selling prices of goods and services producers. That's falling out, right? That leading indicator for consumer price inflation. And that's why inflation expectations are finally dropping. And that doesn't mean that I like the Fed or the system at all. But by now you've at least got to begin to wonder if the Fed can get their soft landing.   Speaker 1 (00:11:47) - They've dropped down from 30,000 foot cruising altitude. There's no turbulence, and they're below, call it, 10,000ft. Now, for the first time in two years, wages are finally rising faster than prices.   Speaker 4 (00:12:01) - We at the Fed remain squarely focused on.   Speaker 1 (00:12:04) - Our dual mandate.   Speaker 4 (00:12:05) - To promote.   Speaker 1 (00:12:05) - Maximum employment and stable.   Speaker 4 (00:12:06) - Prices for the American people.   Speaker 1 (00:12:08) - Yes, sir. That is your job after all. Well, I want to turn to your listener questions here for the remainder of the show. And if you've got a question for me, you can always reach out at Get Rich education, slash contact. The first question comes from Tina in Monroe, Louisiana. She says, Keith, I love your show. Just started listening last month. Tina asks Keith, I have the idea of buying land and I want to know if this is a good idea to build new rentals on. Like for Plex's, I've already formed an LLC and hope to open a business line of credit, but this would be my first ever real estate investment.   Speaker 1 (00:12:49) - Okay, Tina, thanks for finding the show here. Welcome in. I expect that you'll have years of profitable listening ahead to start a new development from digging raw dirt all the way through to procuring your certificates of occupancy and have that be your very first investment for almost anyone. I have got to say no because there is just so much to development. Development is going to rely on your experience and your ability to build a team. You're going to need general contractors and subcontractors and vendors, suppliers and experience dealing with regulators and a municipality and bankers and perhaps investors. And legal development is risky for beginners. You're purchasing something that doesn't yet exist. You've got to be sure that you're buying the right land in the right place. And that means studying everything from geotechnical reports and Perc tests to understanding the demographics, whether you plan to buy that land there in Monroe, Louisiana, or wherever else it is, and then your exit strategy. And while it might not actually be to exit, but it's going to be either to sell your completed development or for you to hold it for rental income, you have really got to know what you're doing.   Speaker 1 (00:14:13) - I am not a developer, but I talked to a lot of them, especially build to rent developers. Now, the reason that I say that the answer is no for development as your first real estate investment for almost anyone. Well, I say almost because if you have a remarkable mentor, someone that's going to go out in the field with you almost every day, then it's a possibility. And even then that mentor should have a proven track record. You need approvals and subdivision and plans drawn and bringing in drainage and utilities and entitlement mean instead of all that for a beginner and really even for most veteran investors, it is substantially easier to buy something that's already built, that has a history of rental occupancy and income. And then the team that you have to build a so much smaller with that primary long term team member as your property manager. But thank you for the question, Tina, because I think a lot of real estate investors wonder about building themselves from raw land. And it seems that even more investors right in here wondering about, you know, just building one individual single family rental home or duplex or fourplex.   Speaker 1 (00:15:25) - And even then, if it's successfully done, it usually takes longer than you think. And then once you're done, the property is vacant and you need to find tenants. So it might be a few more months before it even cash flows. So buy property that's already built, learn investing that way. And what you've done is you've outsourced all of the development unknowns to someone else and they bring you the known and completed development project that is better for more than 99% of people. And then look into being a developer yourself when you've got sufficient experience. If that remains interesting to you, a great mentor with a proven track record or both, if you'd like to ask a question and potentially have me answer it on air here again, go ahead and reach out through get ratification smash contact because that's where you can either leave a voice message or a written one. I am just. Getting started with listener questions. I'm back with more of them. Straight ahead. I'm Keith Reinhold in You're listening to episode 459 of Get Rich Education.   Speaker 1 (00:16:30) - If you want some really passive income, listen to this. You know, I'll just tell you, for the most passive part of my real estate investing personally, I put my own dollars with freedom family investments because their funds pay me a stream of regular cash flow in. Returns are better than a bank savings account up to 12%. Their minimums are as low as 25. K. You don't even need to be accredited. For some of them. It's all backed by real estate and I kind of love how the tax benefit of doing this can offset capital gains in your W-2, jobs, income. And they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. For a little insider tip, I've invested in their power fund to get going on that text family to 668660, and this isn't a solicitation If you want to invest where I do, just go ahead and text family to six six, 866. Jerry listeners can't stop talking about their service from Ridge Lending Group and MLS 42056.   Speaker 1 (00:17:43) - They've provided our tribe with more loans than anyone. They're truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four Plex's. So start your pre-qualification and you can chat with President Charlie Ridge personally, though, even deliver your custom plan for growing your real estate portfolio. Start at Ridge Lending Group.   Speaker 5 (00:18:12) - This is Jerry Operations lead Andrea Newburn. Listen to Get Rich Education with Keith Reinhold and don't put your daydream.   Speaker 1 (00:18:29) - You're listening to the show. It's created more financial freedom for busy people just like you than nearly any show in the world. This is guitarist Education. I'm your host, Keith Reinhold. The next question comes from Adam. He is a real estate agent in Seattle. And Adam asks this. Hi, Keith. I've been an avid listener and follower of yours for years now. Like you, the Little Purple Book changed my life early on and I was able to semi retire at age 35. The book that he's talking about, by the way, is that Poor Dad, I am 42 now and back working as a realtor because I love it.   Speaker 1 (00:19:02) - And then after he wrote I Love It in parentheses, he put well, sorta. So I don't know that he loves it too much and I am at a crossroad in my life. Do I keep acquiring more property and more debt or do I start paying down the properties I do have? I have seven properties now and with a mindset of less is more as I want to enjoy my life a bit more and I'm honestly getting tired of managing my three in state properties. Therefore I've been thinking about selling one to pay off the loan of two other properties and really start to downsize and truly be debt free. Life is too short and I want to enjoy the rest of my life. Do you have any advice or opinions for me? Thank you in advance. Okay. Adam. Well, since you've listened for years, you probably already understand that I don't pay off any of my properties, though I could. I don't want to. I'd lose leverage in all that. You probably understand that I don't self manage.   Speaker 1 (00:20:01) - You said that you self-manage three of your seven properties there in Washington state. So since you probably already understand all that, yes, I would acquire more property, more debt and outsource the property management. That way you can enjoy life if the property is in your home state, don't have high rents in proportion to their values. In a lot of places around Seattle, they don't have a high ratio there. Well then it's probably worth 1030 running into out of state property. Or if you really like those Washington properties, then find a property manager there in state and to find a suitable 1031 exchange facilitator with a proven track record, check the resources tab at GRI marketplace.com. That same website will help you find out-of-state properties if you like. You can also contact our coaches to help walk you through that at marketplace.com/coach. That is a free coaching service by the way. Now as far as keeping the instate Washington properties, if you decide that you do want to do that, the bigger Pockets forums can help you vet a qualified property manager there.   Speaker 1 (00:21:11) - Now, Adam, you did say something about the possibility of downsizing and becoming truly debt free, as you put it. But my question is, what's the problem with debt if someone else reliably pays it all for you? Of course your tenant pays a principal and interest and hopefully a little on top of that called cash flow. All right. In that case, all of that debt is outsourced. Now, let me get a little philosophical for a minute. I don't know the name of the person that's the biggest debtor in the entire world. But you know what? He is probably really wealthy or she all circle back to why in a second. Here's a fun way to understand this. The quarterback threw the most interceptions of all time. Oh, you must think that guy is a total loser. Well, you know what? The quarterback that's thrown the most interceptions all time by far is in fact, a Hall of Famer Brett Farve. Oh, well, how can that be? Well, it's because he got so many chances to play.   Speaker 1 (00:22:17) - He must have been a pretty good quarterback for the coach to put him on the field. Then often year after year, the baseball pitcher that lost the most ever games for his team all time, he is named Cy Young. Well, Cy Young also won the most games all time in Major League Baseball. He was one of the very first inductees into the Hall of Fame. And there's even an award given each year. Still, the most outstanding Major League Baseball player called the Cy Young Award. Yet he lost the most games and say, did you meet a guy on the street there where you live and you learn that he has $20 million in debt? I don't even need to know anything else right there. That tells me that he's probably a financial winner to have that much debt because, see, he would need to be highly credit worthy to even get all that debt in the first place. See, you're only looking at the $20 million debt side of his balance sheet. His asset side might be $50 million.   Speaker 1 (00:23:16) - Hey, that's a $30 million net worth. Even with high inflation, $30 million is fairly wealthy today and mad as Mark Zuckerberg is one of the wealthiest people in the world, he has a net worth. North of $100 billion. And the Zuckerbergs, they took a loan for their home even though they could pay cash for it many times over. And yet when Zuckerberg and his wife bought their home, they took out a loan for the leverage and the arbitrage. The wealthiest people in the world have the most debt AI model that you can model that I personally look to increase my debt as time goes on. And then simultaneously, I expect the asset side to increase faster than the debt side. The asset side increases faster because I've got the debt, hence the leverage. So this is why I have an aversion to being debt free. I hope there's both some helpful resources and a philosophical component for you to chew on there as well. Adam The next listener question comes from Heiko in Utica, New York. Sorry if I mispronounce your name.   Speaker 1 (00:24:18) - It's spelled at Jaakko. Maybe it's Jocko, but I'm going to go with Jocko. He asks. I've held my first ever purchase of a rental single family home for a little over a year. It's located in Holladay, Florida, though my property was projected to provide a cash on cash return of 6%, it only produced 3% because repairs cost more than expected On this 1978 built property. I use a local property manager that's been pretty communicative. I always anticipate reading my monthly email statement from him, just wondering how to manage costs over time. Signed Jocko. Okay. Jocko And by the way, I own rental single family homes myself, just about five miles from Holladay, Florida. And these areas are just north of Tampa. Well, Co only getting 3% rather than a projected 6%. It's actually not a terrible miss. Now, it would be if that were your only revenue source or your only return from an investment. But of course, this 3% cash on cash return is one of your five profit sources from income property.   Speaker 1 (00:25:28) - But suffice to say, one great long term strategy to keep myriad repair costs down over time. And it's something that Ken McElroy told me about, and that is charge the tenant for the first $50 in repairs or maybe charge the tenant for the first $100 of repairs. That way they're going to think twice before bugging you or bugging your manager. Now, this can have the desired effect of keeping your long term repair bill down in a few different ways, but yet ensure that you're still serving the tenant. All right. First of all, the first 50 or $100 a repair bill, it's really not that burdensome to most tenants, but yet they will think twice before calling you or it's calling your manager, in this case, Jocko, before calling about something ticky tacky and minor like the kitchen cabinet doors got a little loose on their hinges again. Now you want to provide clean, safe, affordable, functional housing. That is a core concept in mission here. At first, this might incentivize the tenant to make a 10 or 15 minute repair themselves so that you never even hear from them.   Speaker 1 (00:26:43) - And that also prevents, say, a $75 service call from being made in the first place. Now, if it's a repair that's beyond the tenants expertise or expectations to take care of themselves, say it's something like a kitchen faucet that just leaks a little, well, okay, you want to see that that's taken care of for them. But if they have to pay the first small portion of repairs themselves, then that incentivizes the tenant to report a number of small things in one batch. All right. Well, now, that makes it more efficient for you or for your property managers handyman. That makes for fewer service calls, fewer runs to Home Depot and a real reduction in your repair cost. See? Hello. The work from home movement. That's being good for us as residential real estate investors. But there is one downside to that. A few more tenants spend all day at home and there are more components that can wear out sooner. Or there's this more time that tenants spend at home to notice little things that are amiss.   Speaker 1 (00:27:47) - So that's why the time in the real estate market is right to charge the first portion of repair bills to the tenant. That's why this makes sense now. Now, there are a couple caveats around this. Hello. When the tenant first moves in, I'll go ahead and give them a week to bring you any findings and then those things should be taken care of without charging the tenant anything at all. Right? I mean, the tenant shouldn't have to inherit any problems. And the other caveat is that your tenant has to be communicative about items in disrepair that could create long term damage, like a leaky drain, because you don't want that to ruin your subfloor over. Time. So the short answer on how to lower your long term repair bills, especially in a work from home world, is to have it in the lease that the tenant pays for, say, the first $50 to $100 of repairs. Also, you may have heard it just ten episodes ago on episode 449, I discussed 12 ways that you can raise the red in add value to your property.   Speaker 1 (00:28:52) - There's a good bit of related content there to help you keep profitable and get your cash on cash return up. Now, plenty of properties. In fact, probably most properties have exceeded their return projections over the last three years, and that is primarily due to rapid appreciation. But see, you don't get the lessons from the winds, you get the lessons from the underperformers. And that's why I wanted to answer your question for everyone's benefit today. Taco Tacos question was microeconomics. Let's flip it to macroeconomics with this. Next question from Dave in Atlanta, Georgia. Davis This one a while ago. First, here's the remarkable part on the listener question form in the how did you hear about a section, Dave? You simply wrote, I've been listening to you from the very beginning. Gosh, Dave, this is so supremely appreciated. I know we've got a lot of great devotees and I'm incredibly grateful for it. Dave asks With the US government, 30 trillion in debt and there's some rounding there and if inflation is say 10% over a few years, doesn't inflation debase the government's debt just like it does ours, taking it from 30 trillion down to $27 trillion in this case? Yeah, that stays.   Speaker 1 (00:30:12) - Question That's right, Dave. You've 100% got it. I've talked about this in some prior episodes. Since we get to borrow our mortgage loans in the currency that's denominated in the units of the biggest detonation in the history of the world, the dollar in the USA, then they want to print Dave, just like you. If you had $1 million in debt but you couldn't pay it back right now and you had the ability to print dollars ad infinitum, then sure, the easiest way for you to pay back your debt is to print your own dollars, just like America is doing. And that is just another benefit of you keeping high debt on your properties. In fact, the true definition of inflation is an expansion of the money supply. It's not the result, which is a decline in purchasing power. Technically, if the same Chipotle burrito costs $10 last year at $11 this year, that's not inflation. That's the result of inflation. So the USA wants inflation for this reason and other reasons. I've said it before, the surest been investing is that the dollar is going to continue to decline in purchasing power and that's exactly why we are debtors rather than savers.   Speaker 1 (00:31:30) - Take the sure thing. Thanks for the listenership and thanks for the question, Dave. That's all for listener questions. I encourage you to help yourself out. No one's looking out for you more than you amiss. Historically low US housing supply. Gerri Marketplace is where the inventory actually is, and it's the right inventory. The properties that make the best rentals. Real estate pays five ways style. And the selection changes, of course, based on inventory and other elements. So stay up to date. And if you haven't lately, go ahead and log in. There are free coaching service is becoming popular as well in why not it's like your own concierge personal one on one if you want that it is all there for you at gray marketplace.com. I'll be here with you to run it back next week. I'm your host Keith Wayne a little bit. Don't quit your day dream.   Speaker 6 (00:32:35) - 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.   Speaker 6 (00:32:45) - 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 1 (00:33:03) - The preceding program was brought to you by your home for wealth building. Get rich education.    

Get a 4.75% mortgage rate or 100% financing on new-build Florida income property. Start here. If I gave you $10M, learn why that probably wouldn't even help you. We revisit how “Real Estate Pays 5 Ways”, a concept that I coined right here on the show in May 2015. Some think real estate pays three, four, or six ways. I revisit why there are exactly five. Real estate has many paradoxical relationships. I explore. Americans are living in homes longer than ever, now a duration of 10 years, 8 months. The active supply of available housing dropped again. Get an update on the gambling industry. A major sports gambling platform has offered to advertise with us. Take my free real estate video course right here.  Zillow expects US home values to rise 4.8% from April 2023 to April 2024.  Months of available housing supply is currently 2.7 per Redfin. Resources mentioned: Show Notes: www.GetRichEducation.com/450 Active Supply of Available Homes: https://fred.stlouisfed.org/series/ACTLISCOUUS Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Find cash-flowing Jacksonville property at: www.JWBrealestate.com/GRE Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete transcript:   Welcome to GRE! I'm your host, Keith Weinhold. If you were gifted $10M right now, why that very well wouldn't help you at all.   Learn a fresh take on how Real Estate Pays 5 Ways at the same time. A housing market update with perennially sagging inventory supply amounts and more outlooks for stronger home price appreciation than many expected. Today, on Get Rich Education.   Welcome to GRE!    From Montevideo, Uruguay to Montecito, CA and across 188 nations worldwide, you're listening to one of the longest-running and most listened-to shows on real estate… the voice of real estate investing since 2014. I'm your host and my name is Keith Weinhold.   How would you like it if I gave you $1M?   You know what? That's not enough to make my point. Make it $10M. I adjusted for inflation - ha! How much would you like it if I gave you $10M? How would that feel?   But what if it comes with this one condition.   What if I told you that I'll give you the $10M, but you are not waking up tomorrow?    Not waking up tomorrow? No way!   Now you know that waking up tomorrow is worth more than $10M.   This is how you know that your time and your life are worth infinitely more than any dollar amount.   Hmmm… if your time is so valuable. Then why did you check Instagram 15 times yesterday to see who viewed your Stories? Ha!   Why are you spending time with your AI girlfriend? Ha!   Get Rich Education is ultimately about living a rich LIFE - whatever that means to you.   And we do approach that from the financial perspective here. Money does matter… because leverage, cash flow, and inflation-profiting enable you to BUY time.   We're really one of the few investing platforms… this show is one of the few places with the audacity to tell you that - sure, a little delayed gratification is good… but the risk of too much delayed gratification is DENIED gratification.   Denied gratification is a terrible investing risk that most people either don't give enough weight to - or don't factor in at all.   And getting a $10M windfall is not as great as it sounds either.    History shows that the $25M Lottery winner quickly loses their money. Why does that happen?  Because it seemed like it was effortless to get the windfall, and because they don't know how to handle an amount like that.  It's really similar to a capital gains-centric investor that gets a windfall.  See, cash flow investors like you & I - we can be more measured because your income stream is metered out over time. That's why you are less likely to be irrational with your gains.     Now, I touched on some of those ways that you're paid in real estate investing.    Real Estate Pays you 5 Ways™ simultaneously. That's a concept that I coined right here on the GRE podcast. We since went on to have it trademarked.   Do you know when I first introduced that concept right here on the show - the month & year?    And I've since gone on to do a lot with “Real Estate Pays 5 Ways” to help other audiences understand real estate's five distinct profit sources.   Well, I had someone on Team GRE here do some digging into some of our legacy shows - our past episodes… because I wanted to know when I first said it… and it was apparently in May of 2015, so 8 years ago that I introduced it.   Since then, many other thought leaders have gone on to cite the phrase. Someone other than me even wrote a book on it. And that doesn't bother me at all. I'd rather that other people and readers get good ideas. That's more important than getting the credit.   Of course, c'mon, you can recite these 5 now like they're the Pledge Of Allegiance or something.    This is as automatic as the Lord's Prayer is for Christians. The five are: Appreciation Cash Flow Your return on Amortization and Tax Benefits and finally Inflation-Profiting But now, let's dissect this frog here a little. Why five ways? Why not another number, like real estate pays four ways or six ways?   It is five. There are no more or less. Each of the five are a distinct benefit.   A common flawed case that Real Estate Pays 4 Ways is that most real estate teachers omit the Inflation-Profiting benefit on the long-term fixed interest rate debt.   Any GRE devotee knows that with 5% inflation on $1M in debt, you only owe the bank $950K of inflation-adjusted debt after year one, $900K after year two, etc. (And in the meantime, the tenant pays all of your mortgage interest.)   Some that make the 4 Ways case question the Tax Benefit. Could the tax benefit really be considered a profit source, or is it just a deal sweetener?   It's a profit source.   Outside the real estate world, to obtain a tax write-off, you must have a real expense backed up with receipts, like building a new computer equipment or buying a new farm tractor.   Instead, the magic of real estate tax depreciation says that you can just write off 3.6% of the improved property value each year just for doing... nothing all year. No improvements necessary.   It's a phantom write-off, yet legitimate to the IRS.   Then the 1031 Exchange means you can endlessly defer all of your federal capital gains tax for your... entire life.   Yes, it's one of the few places in life where procrastination actually pays.   I've even heard some say that they're a fan of GRE's Real Estate Pays 5 Ways™, but they've discovered a sixth.   This often involves an event that's either unlikely or falls into one of the existing 5 Ways.   For example, "My appraisal value exceeded the contract price. I'm buying it for $320K, but the appraisal is $340K. I got $20K in instant equity. See, I was paid a 6th way."   No.   I mean, good for you, $20K of instant equity is a nice sweetener - that's a $20K credit in your net worth column that you received the moment you opened up that appraisal e-mail from your lender and saw it. Nice!   But an appraised value that exceeds the purchase price is not COMMON enough to be expected… and the 5 Ways are.   Also, you can make the case that "instant equity" is covered in the first way you're paid, Appreciation.   The reason that we invest in real estate is because there's virtually no other vehicle in the world where you can expect to be paid five ways at the same time.   That's a foundational principle - it's a core concept here at GRE.    It's why we do what we do. It answers the compelling “why” for real estate better than any answer there is…   …and that's why anything less than a 20 to 25% combined return when you add up all five ways is actually disappointing - and that's done with low risk - which is paradoxical almost anywhere else in the entire investing world.    If you haven't yet, take my free “Real Estate Pays 5 Ways” course in order to really understand each of your five distinct profit sources, where they come from, and how that all fits together.    It's at GetRichEducation.com/Course. The free “Real Estate Pays 5 Ways” short course is free at GetRichEducation.com/Course    Let's talk about real estate trends.   You know, real estate investing has a lot of relationships that you just wouldn't expect.    Part of that is because it intersects with the economy. Economies are complex and you get these relationships that are counterintuitive.    For example, in a recession, mortgage rates and all interest rates tend to fall, not rise.    Another exhibit is how debt BUILDS wealth with prudent leverage.   Another one that I've explained extensively here and the show and elsewhere is that higher mortgage rates correlate with higher home prices - not lower ones. That throws nearly everyone off.   Some physical real estate trends have been counterintuitive.   About 30 years ago in America - the 1990s - a new trend was fueled that everyone wanted to have a big kitchen.   New homes were often built with a big, fancy kitchen in the center of the home. Open floor concept - no galley kitchens anymore. That began back then.   And this was really the advent of - at the time - what we considered luxury amenities like granite and quartz kitchen countertops.    Anymore, that's become standard. Even our build-to-rent providers at GRE Marketplace often have new granite countertops in rentals.    But the paradox here is the assumption that a big emphasis on kitchens would mean that more people would start cooking at home.    Oh, no. Just the opposite, in the last 30 years, despite the big kitchens, more people eat out at restaurants and fewer people eat at home. Another real estate paradox.   Another counterintuition was the pandemic. Society locked down, people lost their jobs and you think that there are going to be mass foreclosures because with no job, no one can afford their mortgage payment.   People thought the pandemic will cripple the housing market. Oh, it was just the opposite. That created a housing boom. Everyone wanted their space. Another paradox.   Remember here on the show, shortly after Biden was elected, I told you that this administration - for better or for worse - will not let people lose their homes.    Then we had high inflation on the heels of the pandemic. That was bad for consumers and good for real estate.   But high inflation is supposed to mean that bitcoin and gold would surge. Well, another paradox, that brought crypto winter, and gold did nothing in high inflation, until more recently here.   Rather than high delinquency rates we've got low delinquency rates. In fact, the mortgage delinquency rate has been steadily falling for almost 3 years now. That's because of strong borrowers and tough lending standards.   Now, another real estate investing trend, though there's nothing paradoxical here, is mortgage rate resets.    Here in the US, on 1-4 unit rental properties, you're in great shape, whether you locked in your interest rate at 3% or 7% - the thing is that you have a steady payment… and on an inflation-adjusted basis, your same monthly payment amount goes DOWN over time - it's a tailwind to your personal finances.   Inflation cannot touch your steady, locked-in P & I payment.   But many Canadians are up for renewal with their 5-year fixed rate, 25-year amorts.    Yeah, just across the border in Canada, they don't have these 30-year fixed rate amortizing loans.    Their rate resets every five years.   One Canadian homeowner that I talked to, he doesn't live in that posh of a home in Ontario, it's just a little above the median housing price.    His family's loan terms are about to reset on the primary residence and it's expected to increase their monthly payment by $1,280 / mo.   How would you feel if that happened to you overnight? It's a nuisance at best. It might even crimp your quality of life - or worse.   That can't really happen to you in the US.    Having a 30-year FRM is like you having rent control as a tenant.    In coastal areas, some tenants that have a rent control deal - New York, California, Oregon - they want to live in their home for decades under rent control because there's a ceiling on their rent. Move out of their unit - lose the deal and they'd have to reset somewhere else.   It's the same with you as an American homeowner or REI in the 1-to-4 unit space. Your P&I price cannot rise.    And, I've talked about the interest rate lock-in effect before, constraining the housing supply.    Get this. Just last week, First American Title Company informed us that the average resident duration in a home hit a record high.    Amongst this lower intrinsic mobility rate, interest rate lock-in effect, and other societal trends, the average resident duration in a primary home in now 10 years, 8 months.    Lower mobility. Studies show that people are holding onto their cars longer than ever, and people aren't parting with their real estate either.   So, then, with fewer properties coming to market, let's update the available supply of homes.    This is pulling from the same set of stats that I've been citing for years, in order to be consistent. Check this out. This is the FRED Housing Inventory - the Active Listing Count of Available US homes.   Remember, historically, it's 1-and-a-half to 2 million units available. In 2016 it was still 1-and-a-half million.   Then in April of 2020 it dipped below 1 million and fell sharply from there - which I've famously called this era's housing crash.    It was a housing SUPPLY crash - which hedges against a price crash.   It fell to as low as 435,000 a year later in mid-2021. Gosh, under a half million.   It's rebounded as builders know that they need to build more homes. Six months ago it got up to 750,000 available homes - which is still less than half of what  America needs.   And now, today, did the supply get up toward at least 1 million yet? No.    It has dropped back the other way to just 563,000. This astounding dearth of housing supply - it's a condition that we could very well be in for over a decade.   This scarce supply is a long-term American condition. Yes, it's good for your real estate values - both present and future. But it is a problem too. It's a contributor to homelessness!   The Covid home improvement boom is officially over. So says Home Depot. They posted a revenue drop in the first quarter and warned that annual sales would decline in 2023 for the first time in 14 years.    Home Depot said that shoppers are now holding off on the big-ticket purchases they made during the pandemic and are choosing to break up larger projects—like remodeling a bathroom—into smaller, bite-sized pieces.   There's a fascinating new study from a bipartisan think tank shows that everyone wants to LIVE ALONE.   That's what Business Insider just reported on. Now, of course, the term “everyone” is an exaggeration.   But Statista and Our World In Data tells us that - get this - this is the number of SINGLE-PERSON households in the US - people living alone.   Back in 1960, that figure was just a paltry 13%.   By 1970, 17% of households were people were living alone.   Every ten years, that percent crept up to 23, 25, then 26%. By 2010 it hit 27% and by 2022 it hit 29%.   Now, you can't think that's good for society - to have all these single-person households. Almost 3 in 10 living alone. C'mon. Find a good spouse.   But in any case, that's good for you as a REI, when, say, 10 people live amongst 5 homes rather than 3 homes - absorbing all that housing supply and keeping it scarce.     Even if the US population stayed the same, there's more home demand - with that trend.   Of course, the US population is growing, though really slowly, probably just a few tenths of 1% this year.   But because of all the Millennials and the embedded “Work From Anywhere” trend, housing demand is pretty strong.   The recent rental housing demand and rent boom came almost entirely due to a surge in household formation -- young adults leaving the nest and roommates decoupling to get their own space... especially in urban areas.   People working from home want more space (without a roommate) AND are willing to pay more for it -- and able -- to pay more for it.   So if you're bullish on work-from-home remaining the norm for at least a chunk of the population (and I am), you should be bullish on the rental demand outlook.    And this has really revitalized America's SUBURBS - that's the area where you find that space.   The WFH-fueled rise of the suburbs is a wake-up call to cities, where, in the case of NYC, 26 Empire State Buildings' worth of office space now sits empty.  The typical office worker is spending $2,000–$4,600 less annually in city centers. Because even if they GO to the city to work, they might only do that 2 days a week now - not 5. I've got more for you straight ahead, including a new forecast on how much home prices are expected to rise this year.   Again, check out my free video course if you haven't “Real Estate Pays 5 Ways”. Get it at GetRichEducation.com/Course   I'm Keith Weinhold. You're listening to Get Rich Education.   Yeah, big thanks to this week's show sponsors. I'm only bringing you those places that will bring real value to your life.   Now, here at GRE, I recently read an offer that one of these major sports gambling platforms sent us. They want to advertise on the show here.    Do you want to hear sports gambling ads on GRE? I've got an opinion about that, that I'll share with you shortly. Gambling is not the same as investing.    If you're wondering why you're hearing more about gambling, especially sports gambling than you had just a few years ago, well…   Now, just last week, it was FIVE years ago that the Supreme Court lifted a federal ban on sports gambling in the US.    That spawned a multibillion-dollar industry that's transformed how Americans watch, talk about, and experience sports.   Americans bet $95B on sports in legal jurisdictions with consumer protections last year. That's more money than the amount spent on ride sharing, coffee, or streaming… and you can bet that the off-the-books gambling number, if added in, would make that WAY higher. Two sports betting companies, DraftKings and FanDuel, control 71% of the US market, per gambling analytics firm Eilers & Krejcik. Gosh, that's almost a duopoly right there. But despite that, these companies have struggled to turn a profit. FanDuel recorded its first quarterly profit just last year, and DraftKings has YET to report a profitable quarter. Well, I'll just tell ya, it's one of those two big companies that inquired about advertising on GRE. Of the 50 states, the number is 33 that allow it. That's 2/3rd of the nation that has legal sports betting (Washington, DC, has it too). Another four states have legalized sports wagering, but don't have any sportsbooks operating yet. Interestingly, the three most-populous US states—California, Texas, and Florida—have not legalized sports gambling. And they account for 26% of all teams in the major North American pro leagues. The number of women joining sportsbook apps jumped 45% last year, marking the third straight year that new women users exceeded men. Hmmm. I guess that's the growth market there. My inclination to have gambling advertising and associating with these companies is NOT to do it… not to accept that advertising income. I don't see how that's serving you. This feels like a conflict in my gut and in my heart. Gambling is sort of the opposite of investing for a stable rental income stream.  I mean, either way, I guess you're putting your money at stake. But that's about the closest common ground I can find.  At least at this time… and probably all-time, it's a “no” for gambling content here. That's not any sort of moral judgment on the activity at all. I mean, gosh, as a teenager, I was really into sports gambling, but it was the informal kind. My friend & I each lay a $10 bill next to the TV - Phillies vs. Mets. Winner gets the $20 bucks. So, my inclination is a pretty easy “no”. Hook up with our sponsors - they support GRE. That's Ridge Lending Group, offering income property loans nationwide. JWB Real Estate Capital - if you want performing income property, JWB really has Jacksonville, FL sewn up & locked down. They do one thing and do it well. Then, Freedom Family Investments. Get started with them for real estate funds that are ultra-low hassle. Text “FAMILY” to 66866.  Where will the next ten years take you & I on the show here? I would love to be along for the ride with you. I hope that you'll be here with me.   Let me just take a moment to remind you that I'm grateful to have such a large, loyal audience to… well, listen to the words that I say every week. Thank you for your support.   This show has almost reached the 5 million download mark. I've been shown that it's between 4.8 and 4.9 million downloads now. I'm genuinely honored and a little humbled about that even.    Let's listen in to this 3+ minute CNBC clip. This is Lawrence Yun, Chief Economist at the NAR - the National Association of Realtors talking about the housing market just last week.    Now, a little context here - historically, the NAR has tended to give these dominantly sunny side-up, glowing, everything is always good & getting better kind of remarks on the housing market.   But I've been listening to the NAR's Lawrence Yun for quite a while and think he's been rather balanced.    Here, he discusses how real estate sales volume is down - which has a lot to do with low supply, that mortgage rates are steady, and that prices are slowly rising in most parts of the nation.   [OK, Vedran. Here's where we play the insert.]   0:09-3:42 First words to keep are: “Lawrence Yun…” Last words to keep are: “... half of the country.”   https://www.cnbc.com/video/2023/05/17/home-prices-still-rising-despite-sales-dropping-says-national-association-of-realtors-yun.html   Now, Lawrence Yun did go on to say that he thinks that the Fed should lower interest rates by a half point, and more.    Let us know if you'd like us to invite Lawrence Yun onto the show. As always, you can leave your suggestions, questions, or any comments about the Get Rich Education podcast or any of our other platforms at our Contact center at: GetRichEducation.com/Contact   When it comes to national HPA, just last week, we learned that Zillow revised its home price outlook upward.   Between April 2023 and April 2024, Zillow expects home US home values to rise 4.8%.   You've got more signs that more & more American markets are being considered a seller's market rather than a buyer's market, which tilts toward price appreciation, though I still think pretty moderate price appreciation this year.    CNN recently published an article where they even posited the question: “Are Bidding Wars Back?” Yes, they are in a few markets.     Another measure of housing supply is the MONTHS of available supply. I think you know that 6 to 7 months of inventory is considered a balanced supply & demand market.   If it gets up to 10 months of supply, you tend to see little or no HPA.    Well, indicative of the low housing supply, we hit a winter high of 4-and-a-half months of supply.    And today, it's down to just 2.7 months per Redfin. 2.7 months. That's just another sign that demand is outpacing supply.   Then, among those entry-level homes, like the NAR's Lawrence Yun eluded to, they're even harder to find… and they're the ones that make the best rentals.    How hard are these to find? I mean, in some markets this can be even more rare than finding a true friend? Ha!   Is it as rare as the Hope Diamond? Or perhaps a Honus Wagner baseball card? Ha!   Well, the good news is that we actually have the inventory that you want at GRE Marketplace.   Besides that, we actually have something that you really like and that is - mortgage rate relief to help you with your cash flow.    Purchase rates have been hovering around 6 1/2% lately. That's the OO rate, so for rentals, it could be 7%+.   Well, how about rolling back the hands of time? Through our great relationships here and our free investment coaching, you have access to 4.75% interest rates on investment property - and many of these are new-builds in path-of-progress Florida.   Yes, our free coaching will get you the 4.75% mortgage interest rate, they'll even help write the sales contract for you if you're new to this, walk you through the property inspection, the property condition, the appraisal.    Yes, a 4.75% interest rate… today, from these homebuilder buydowns. I don't know how much longer that can last.    To be clear, you're not buying an income property FROM us. You're buying it with our help and our connections. It is all free to you. This is educational support for you.   In fact, our coaching support like this through our sole investment coach, Naresh is becoming so popular, that I can announce that we soon plan to add a second investment coach. Yes! A new one.   And interestingly, you have heard of this soon-to-be second investment coach because they've been a guest on the show here a number of times. Yeah, we'll make that introduction on a future show. You'll find THAT interesting.   But, our Investment Coach, Naresh, does have some slots open to talk with you and help you out. A lot of the best deals currently with these 4.75% rates are with new-build Florida duplexes and fourplexes.    You can use them for rental SFHs too. Last I checked, the deals were a little better on the duplexes and fourplexes.   You probably thought that Sub-6 and sub-5 mortgage rates are about as unlikely to make a sudden comeback as AOL or Myspace, but we've got them here now.    Now, that 4.75% is just one of two options that we have with some Build-To-Rent builders that are fairly motivated. So to review the first one fully… you can get a   4.75% interest rate with a 25% down payment 1 year of free property management and $1,000 off closing costs per deal That's one. Or, option 2 is: Zero down payment - yes, 100% financing 2 years free property management $1,000 off closing costs per deal Negotiable price, open to offers They are the two options.  It's rarely more attractive than this. If you hear this in a few weeks, or perhaps months, I doubt that these options will be there any longer.   So I'll close with something actionable that can really help you now.    If you want to do it yourself, that's fine, like thousands of others have, get a selection of income property - despite this national dearth of supply at GREmarketplace.com   Or, like I said, right now, it's really helpful to connect with an experienced GRE Investment Coach - it's free - our coach's name is Naresh - for those 4.75% interest rates or zero down program - whatever's best for you… you can do all that at once at GREmarketplace.com/Coach   Until next week, I'm your host, Keith Weinhold. DQYD!  

In this Real Estate News Brief for the week ending May 13th, 2023... some good news about inflation, how a U.S. debt default might impact housing, and a new Gallup Poll on investor preferences.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with two inflation reports from this past week. The first was a report on the Consumer Price Index for April. The CPI shows a .4% rise in consumer prices which is a slight increase from the previous month, but it brought the annual rate below 5% for the first time in two years. It hit a high of 9.1% last summer, but is now down to 4.9%. The core rate, which omits food and fuel, was also down .4%, with an annual rate of 5.5%. Shelter prices rose the most, but those prices are slowing down. It's interesting to note that the three-month annualized rate is now at 3.2%. (1)   Producer prices are also coming down. The Labor Department reported a .2% increase in the Producer Price Index for April, with an annual rate of 2.3%. The PPI's core rate was also down .2% but the annual rate is a bit higher, at 3.4%. As MarketWatch reports: “Inflation is moderating at the consumer and producer levels. This is adding to market expectations that the Federal Reserve will refrain from raising interest rates further at the next meeting in mid-June.” (2)   The Fed's preferred report on inflation, known as the Personal Consumption Expenditure Index or PCE, will play a big role in what the Fed does next. That's coming out at the end of this month.   Weekly jobless claims were a surprise on the upside, with 240,000 people filing for benefits. They were 22,000 higher than they were for the previous week. Economists had only expected an increase of 3,000. That's the highest number of claims since October of 2021. The numbers have been steadily rising since January, for a total of 1.81 million continuing claims. Higher numbers indicate a softening of the job market and slower wage growth which the Fed wants to see in its fight against inflation. (3)   Mortgage Rates   Mortgage rates are still idling in the lower 6% range. Freddie Mac says the 30-year fixed-rate mortgage was down four basis points to 6.35% this last week. The 15-year was down one point to 5.75%. (4) Freddie Mac's chief economist, Sam Khater, says: “A recent sideways trend in mortgage rates is a welcome departure from the record increases of last year.” (5)   In other news making headlines…   Mortgage Rates Would Skyrocket if U.S. Defaults on Debt   As lawmakers haggle over the debt ceiling, there's concern about what would happen if they don't come to an agreement and the government defaults. According to Zillow, it would have a devastating impact on the housing market, with mortgage rates potentially rising to 8.4%. That would increase a typical mortgage payment by 22%. (6)   Zillow says if mortgage rates get to the 8% level, existing home sales could fall from April's 4.3 million to around 3.3 million in September. That's a 23% drop. Zillow's senior economist, Jeff Tucker, acknowledges that a default is “unlikely” but if it did happen, he says it would send the housing market into a “deep freeze.”   It is hoped that President Joe Biden and Speaker of the House Kevin McCarthy will hammer out a deal by June 1st. In a Bloomberg interview, Treasury Secretary Janet Yellen said: “There is no satisfactory solution for the U.S. that's good for the economy and financial markets other than Congress acting to raise the debt ceiling.”   Fed's Rate Hikes Are Now Hurting the Housing Market   Housing economists are not happy about the latest rate hike. The Fed hiked short-term rates another quarter point to a range of 5 to 5.25%. The National Association of Realtors' Lawrence Yun and the National Association of Home Builders' Robert Dietz call it “disappointing.” They say the high rates are freezing loan activity and hurting the economy. (7)   They say that consumer prices have been coming down for months and the last rate hike wasn't necessary. Yun says that: “Regional banks are an important source of loans – but they are frozen.” He says: “They are shuffling their balance sheets and figuring out what to do.”   Dietz says that higher rates are making it harder for developers to build homes, which are badly needed to boost inventory. He says: “We need to be building more than 1.1 million homes a year to haVe a meaningful impact on the lack of inventory.”    Real Estate Still a Top Investment Choice, but Lead is Shrinking   A recent Gallup poll shows that real estate is still a top investment choice, but the lead is shrinking. In 2022, 45% of the participants said that real estate is the best long-term investment. This year, that percentage shrank to just 34%. (8)   Many consumers have turned to gold, which has now taken second place and pushed stocks into third. Gold was favored by 26% this year, compared to 15% last year. Stocks dropped from 24% last year to 18% this year. Savings accounts, CDs, and bonds are up slightly but they are still in fourth place.    Gallup asked some of the participants about crypto, but that has lost its luster with the recent collapse of the FTX crypto exchange, and a decline in crypto prices, especially for bitcoin. Only 4% of Americans are choosing crypto. Last year, it was 8%.   That's it for today. Check the show notes for links, and the “Join for Free” button to become a member of RealWealth. It's free to join, and you'll have full access to our website including our investor portal where you can check out various rental property markets and find out how to make real estate work for you in this tough environment.   And please remember to hit the subscribe button, and leave a review!   Thanks for listening. I'm Kathy Fettke.   Links:   1 - https://www.marketwatch.com/story/u-s-consumer-price-inflation-cools-to-lowest-rate-in-two-years-in-april-ef69d854?mod=home-page   2 - https://www.marketwatch.com/story/u-s-april-producer-prices-rise-2-3-over-past-year-smallest-increase-since-january-2021-8afa903e?mod=economy-politics   3 - https://www.marketwatch.com/story/jobless-claims-hit-264-000-in-latest-week-highest-level-since-last-october-d63852a4?mod=economy-politics   4 - https://www.freddiemac.com/pmms   5 - https://www.nar.realtor/magazine/real-estate-news/mortgage-rates-are-steadily-edging-downward   6 - https://therealdeal.com/national/2023/05/12/us-default-would-send-mortgage-rates-past-8/   7 - https://www.nar.realtor/magazine/real-estate-news/housing-economists-fed-policy-now-hurting-real-estate   8 - https://news.gallup.com/poll/505592/real-estate-lead-best-investment-shrinks-gold-rises.aspx?utm_source=google&utm_medium=rss&utm_campaign=syndication

In this Real Estate News Brief for the week ending May 6th, 2023… why economists are expecting a rate hike pause, where homeowners are paying the most and the least for their mortgages, and new home search help from a chatbot!   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week, and the big news is, of course, the Fed's rate hike. The Federal Reserve's Open Market Committee followed through on an expected quarter point hike to the overnight lending rate, which puts the target range between 5 and 5.25%. It was the 10th rate hike in a row and a unanimous decision among committee members, despite calls for a pause from some Congressional lawmakers. (1)   The Fed also appeared to suggest that it might now be time for a pause, by eliminating a sentence that says “some” additional rate hikes may be needed. Instead, the statement kind of hedged on the idea of rate hikes by saying that any further rate hikes would depend on “the cumulative tightening of monetary policy, the lags with which monetary policy affect economic activity and inflation, and economic and financial developments.” Economists are interpreting that to mean that the Fed is prepared to take a more “dovish” approach at its next policy meeting. As MarketWatch puts it, the Fed is “on hold.”    Fed Chief Jerome Powell also said in his press conference after the meeting that: “We are no longer saying we anticipate” rate hikes. He says: “We will be driven by incoming data, meeting by meeting.” (2)   Some economists say the Fed has already gone too far. Chief economist for the National Association of Realtors, Lawrence Yun, is one of them. He called last week's rate hike “unnecessary and harmful.”   Yun says inflation has been coming down and will continue to do so. He says: “It will be even lower as the heavyweight component to inflation, which is rent, will inevitably slow down given the robust, 40-year high in construction of new apartment units.” He also says that many small banks are struggling right now. He says: “They are becoming zombie-like banks, unable to lend even to good businesses, as they are more concerned with balance sheet shuffling for survival.” (3)   Meanwhile, there are new signs that the job market is softening. Initial claims were up 13,000 to a total of 242,000. That's up from about 200,000 in January. Continuing claims were down, however, by 38,000 to a total of 1.81 million. (4) The April jobs report also shows that the job market is still going strong. It shows that companies increased the number of available positions by 253,000. Wall Street economists had anticipated the addition of just 180,000 new jobs. The unemployment rate also declined from 3.5% to 3.4%. (5)   Mortgage Rates   Mortgage rates dipped a little this last week. Freddie Mac says the average 30-year fixed-rate mortgage was down four basic points to 6.39%. The 15-year was up five points to 5.76%. (6)   In other news making headlines…   The Average Monthly Mortgage Payment   The average monthly mortgage payment is now $2,317. Lending Tree's latest study shows that the average U.S. home buyer needs a mortgage of $333,342 with the highest amounts needed in the District of Columbia, Washington State, and California. (7)   High priced states skew the averages however, so you need to look at the individual states to see how affordable they are. The three states with the lowest average mortgage amounts are West Virginia, Kentucky, and Michigan. In West Virginia, the average is just $1,700.   Homeownership Not a Priority Among Most Renters   A majority of renters don't see homeownership in their future. Online brokerage Home Bay conducted a survey that shows about two-thirds say they have lost hope in owning a home, although half of the respondents said that homeownership is “very important.” Given their current situation, they'd prefer to spend their money on other things. The top three priorities are paying down debt, having a comfortable retirement, and owning a car. (8)   Among the renters who want to own a home, a third are willing to pay a high price to do that including many who said they'd skip meals or sell their plasma. Two thirds also said they would take on a second job.   Zillow, Redfin Launch ChatGPT Plugin   Searching for a home could get a little easier with the help of a chatbot. Both Zillow and Redfin announced that users will be able to get a ChatGPT plugin that will allow them to describe homes and have the chatbot show relevant listings. The OpenAI website says that only a small number of users have access to the plugins right now, but you can add your name to a waitlist. (9)   That's it for this week's News Brief. Check the show notes for links at newsforinvestors.com. You can also join RealWealth while you are at our website by hitting the “join for free” button. Membership gives you full access to our Investor Portal where you can see sample properties and connect with our network of real estate professionals, including our RealWealthinvestment counselors.   And please remember to subscribe to our podcast!   Thanks for listening. I'm Kathy Fettke.   Links:   1 - https://www.cnbc.com/2023/05/03/fed-rate-decision-may-2023-.html   2 - https://www.marketwatch.com/story/4-things-we-learned-from-powells-press-conference-after-latest-fed-rate-hike-4863f055?mod=federal-reserve   3 - https://www.nar.realtor/magazine/real-estate-news/yun-latest-fed-hike-unnecessary-and-harmful   4 - https://www.marketwatch.com/story/jobless-claims-climb-13-000-to-242-000-and-show-hints-of-labor-market-softening-41d5e71b?mod=economy-politics   5 - https://www.marketwatch.com/story/construction-spending-up-0-3-in-march-546e0768?mod=economy-politics   6 - https://www.freddiemac.com/pmms   7 - https://www.nar.realtor/magazine/real-estate-news/the-average-monthly-mortgage-payment-is-above-2300   8 - https://www.cnbc.com/2023/05/04/renters-say-homeownership-is-hopeless-how-theyre-spending-instead.html?__source=realestate%7cnews%7c&par=realestate   ​​9 - https://therealdeal.com/national/2023/05/04/redfin-zillow-adopt-chatgpt-plugins/  

This is Garrison Hardie with your CrossPolitic Daily News Brief for Wednesday, March 22nd, 2023. Hi Contrast Hymn Books If you don’t teach your kids the Lord’s songs, the world will teach them its songs. The brand-new Hi-Contrast Hymn Book is designed to help you teach your children the most beloved songs of the Christian faith. Its captivating illustrations will create special moments of truth, goodness, and beauty in your home every day. To get a copy for your family, go to www.hicontrasthymnbooks.com/FLF. That’s www. “H” “I” contrasthymnbooks.com/FLF. Now to the news… First in world news… https://www.foxnews.com/world/vladimir-putin-xi-jinping-sign-economic-deal-latest-demonstration-friendship-limits Vladimir Putin, Xi Jinping sign economic deal in latest demonstration of 'friendship without limits' Chinese President Xi Jinping and Russian President Vladimir Putin signed an agreement to expand their economic ties during a bilateral meeting in Moscow on Tuesday. Xi is in Moscow for a multiday series of meetings with his Russian counterpart, aimed at demonstrating the two countries' new "friendship without limits." Xi and Putin emphasized the importance of jointly safeguarding their countries' energy security. Putin touted plans for a gas pipeline from Siberia to China ahead of the meeting, saying the agreement was all-but finalized. "We were just discussing a good project, the new Power of Siberia 2 pipeline via Mongolia. Practically all the parameters of that agreement have been finalized," Putin told Xi at the beginning of the meeting, according to the Financial Times. Beijing has grown increasingly friendly with Moscow over the past year as Putin's invasion of Ukraine left the country largely ostracized on the world stage. Xi's visit comes just days after the International Criminal Court issued a warrant for Putin's arrest for war crimes committed in Ukraine. Nevertheless, the pair called each other "dear friend" when they first shook hands on Monday. Putin alleged during Monday's meeting that the Western world is conspiring to stifle Russia and China by "persistently working to split the common Eurasian space into a network of ‘exclusive clubs’ and military blocs that would serve to contain our countries’ development." The exact details of Russia and China's Tuesday economic agreement have yet to be released. Over to Paris… https://nationalpost.com/pmn/news-pmn/crime-pmn/macrons-government-faces-moment-of-truth-over-pension-reform Protesters set rubbish on fire as French govt barely survives no-confidence vote Protesters set piles of rubbish on fire in central Paris on Monday after President Emmanuel Macron’s government narrowly survived a no-confidence motion in parliament on Monday over a deeply unpopular pension reform. The failure of the no-confidence vote will be a relief to Macron. Had it succeeded, it would have sunk his government and killed the legislation, which is set to raise the retirement age by two years to 64. But the relief proved short-lived. In some of Paris’ most prestigious avenues, firefighters scrambled to put out burning rubbish piles left uncollected for days due to strikes as protesters played cat-and-mouse with police. Earlier on Thursday, a Reuters reporter saw police fire tear gas and briefly charge at protesters after the no-confidence vote barely fell short of enough votes to pass. Unions and opposition parties said they would step up protests to try and force a u-turn. The vote on the tripartisan, no-confidence motion was closer than expected. Some 278 MPs backed it, just nine short of the 287 needed for it to succeed. As soon as the failure of the no-confidence vote was announced, lawmakers from the hard left (LFI, France Unbowed) shouted “Resign!” at Prime Minister Elisabeth Borne and brandished placards that read: “We’ll meet in the streets.” In the southwestern city of Bordeaux, about 200-300 people, mostly youngsters, gathered against the reform and chanted: “Macron, resign!” A couple of trash bins were lit on fire as the crowd chanted: “This will blow up.” Over the past three nights, clashes over the pension reform, in Paris and throughout the country, have been reminiscent of the Yellow Vest protests that erupted in late 2018 over high fuel prices. A ninth nationwide day of strikes and protests is scheduled on Thursday. “Nothing undermines the mobilization of workers,” the hardline CGT union said after the vote, calling on workers to step up industrial action and “participate massively in rolling strikes and demonstrations.” Opposition parties will also challenge the bill in the Constitutional Council, which could decide to strike down some or all of it – if it considers it breaches the constitution. A second motion of no confidence, tabled by the far-right National Rally (RN), also failed, after it gathered only 94 votes. Other opposition parties said they would not vote for it. Far-right leader Marine Le Pen said Borne should go. She said Macron should call a referendum on the reform but was unlikely to do so. “He’s deaf to what the French people want,” she told reporters. https://townhall.com/tipsheet/katiepavlich/2023/03/20/this-is-insane-mexican-government-seizes-assets-of-american-company-n2620887 'This Is Insane': Mexican Military Just Seized Assets of an American Company Over the weekend, the Mexican military seized a number of assets belonging to American company Vulcan Materials. "The seizure of a US company's marine terminal in Mexico has drawn criticism from a US senator and risks sparking more tension between the two nations amid spats over energy and security," Bloomberg reports. "US construction firm Vulcan Materials alleges that armed forces, including from the Mexican government, launched a takeover of its facility in the country's southeast on Tuesday. The company says a federal judge in Mexico has ordered a stay on any government effort to confiscate the property." The move prompted national security experts to sound the alarm, calling the situation "insane." Former Director of National Intelligence John Ratcliffe is also weighing in, noting President Joe Biden's continued weakness on the world stage. Last week, Mexican President Andrés Manuel López Obrador lashed out after Republicans called for additional tools to use military force against Mexican cartels. https://www.cnbc.com/2023/03/21/february-home-sales-spike.html Home sales spike 14.5% in February as the median price drops for the first time in over a decade Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by the National Association of Realtors. That put sales at an annualized rate of 4.58 million units. It was the first monthly gain in 12 months and the largest increase since July 2020, just after the start of the Covid-19 pandemic. Sales were, however, 22.6% lower than they were in February of last year. These sales counts are based on closings, so the contracts were likely signed at the end of December and throughout January, when mortgage rates had fallen sharply. The average rate on the popular 30-year fixed loan hovered in the low 6% range throughout January after reaching a high of 7% last fall. The relative drop caused a jump in sales of newly built homes, before rates jumped back toward 7% in February. They now stand at 6.67%, according to Mortgage News Daily. “Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines,” said Lawrence Yun, chief economist for the Realtors, in a release. “Moreover, we’re seeing stronger sales gains in areas where home prices are decreasing and the local economies are adding jobs.” Higher mortgage rates have been cooling home prices since last summer, and for the first time in a record 131 consecutive months — nearly 11 years — prices were lower on a year-over-year comparison. The median price of an existing home sold in February was $363,000, a 0.2% decline from February 2022. That lower median price could be a sign that homes on the more affordable end of the market are selling. Sales might have been even higher were it not for what is still very low supply. There were just 980,000 homes for sale at the end of February, according to the Realtors, flat compared with January. At the current sales pace, that represents a 2.6-month supply. A balanced market between buyer and seller is considered a 4- to 6-month supply. “Inventory levels are still at historic lows,” Yun added. “Consequently, multiple offers are returning on a good number of properties.” This could start to heat prices again, but with mortgage rates now higher than they were in January it will be harder for some buyers to compete. All-cash sales accounted for 28% of transactions in February, down from 29% in January but up from 25% in February 2022. Individual investors returned, making up 18% of buyers, up from 16% in January but down from 19% in February 2022. When looking at sales at different price points, they were all down in the range of 20% from February last year, with sales down the most in the top, million-dollar-plus segment. https://www.cnn.com/2023/03/21/politics/idaho-firing-squad-bill/index.html Idaho lawmakers approve bill that would allow execution by firing squad Idaho lawmakers approved a bill Monday that would allow execution by firing squad, according to the legislature’s website. State Rep. Bruce D. Skaug confirmed the move in a statement to CNN. “H186 has now passed the Idaho Senate and House with a veto proof majority,” Skaug wrote in an email to CNN. “Upon signature of the Governor, the state may now more likely carry out justice, as determined by our judicial system, against those who have committed first degree murder.” A total of 24 officials voted for the bill, while 11 voted against it. House Bill 186 will move to Republican Gov. Brad Little’s desk next. The bill stipulates that firing squads will be used only if the state cannot obtain the drugs needed for lethal injections. Several states have struggled to source the drugs required for lethal injection, causing them to pause executions and triggering lawsuits from inmates who argue the injections are inhumane. Additionally, the bill permits Idaho to use firing squads if lethal injections are deemed unconstitutional by a court. A fiscal note tied to the bill explains that refurbishing the Department of Correction to meet “safety and execution requirements for the firing squad” will cost around $750,000. If the bill is signed into law, Idaho will follow South Carolina, which approved the usage of firing squads in March 2022. Three other states permit firing squads, according to the Death Penalty Information Center: Mississippi, Utah and Oklahoma. A firing squad was last used in the US in 2010 to execute convicted murderer Ronnie Lee Gardner in Utah.

For many years, Brian has predicted real estate trends and developments with astounding accuracy. In his 15th annual Bold Predictions broadcast, he interviews NAR Chief Economist Dr. Lawrence Yun for a market update. He also forecasts what's ahead for next year and shares what real estate professionals need to do in order to win. YOU WILL LEARN:Factors affecting the market right now.How real estate agents, buyers and sellers are being impacted.Three opportunities to take advantage of in 2023 to succeed. MENTIONED IN THIS EPISODE: The National Association of REALTORS® buffiniandcompany.com/2023resources S2E94, The One Decision That Makes a Millionaire itsagoodlife.com Free business consultation NOTEWORTHY QUOTES FROM THIS EPISODE: “Data is indicating that this year, once all the numbers are in, median home prices will be roughly 10% above last year.” – Dr. Yun “I think by 2024 we will definitely have lower mortgage rates.” – Dr. Yun “This is a pro's market.” – Brian Buffini “Real estate is the number one protection against inflation and has been for 100 years.” – Brian Buffini “Do not go it alone. When times are tough, you can't go it alone. Get help.” – Brian Buffini Hosted on Acast. See acast.com/privacy for more information.