Podcasts about north star

Welcome to the very first OFFICIAL week of Chicago Marathon training! Whether you're on a treadmill or just hanging out on a run, lace up and join me for a 35-minute run for week 1 run 1 of my 16-week Marathon Build For The Chicago Marathon! BQ or Bust started in 2016 as a moonshot goal for me to take my marathon time from 3 hours 59 minutes to 3 hours 35 minutes which, at the time, was my Boston Marathon Qualifying Time (BQ). I vlogged the entire experience and had to rumble with perfectionism, a fear of failure, and pre-defined limits. I was given the opportunity to explore beliefs that were holding me back and given space to grow and change. After a few attempts of falling short, 9 years later I'm trying again. Originally, I thought I aged up. I was back to 3 hours 35 minutes. Then, the qualifying times changed AGAIN and I'm back to 3:30. But like I learned, the only way you can fail is if you fail to try! DARE TO FAIL. WHY NOT!?!? In this episode, we dive into: -I'm injured! Week 1 and I have a little overuse injury. -Defining our why -What I focus on at the start of a marathon build -The heat -What I want out of this marathon build. This go-around is different. Yes, a 3 hour 30 minute marathon is still my North Star, but honestly? The bigger goal is to see what I'm truly capable of. WHY NOT? Now that I'm a running coach with years of experience under my belt, I'm approaching this from a totally new place. This series is my chance to push back on so much of the terrible advice I see online. Running is complicated—and if you're an everyday runner, you cannot just mimic what people running 50+ mile weeks are doing. Here, we're focusing on:  ✅ How to make training work for your life ✅ How to avoid burnout ✅ How to have more fun chasing your dreams Throughout the BQ or Bust series, you'll get: ✔️ Weekly "Run With Me" treadmill episodes ✔️ Weekly roundup vlog and podcast episode to keep you in the loop   ✔️ Social media hits WHY NOT? Let's find out what's possible—together.

Imagine waking up in a new destination every day without ever having to pack a bag - that's the beauty of cruising and no one does it quite like Royal Caribbean. In this episode of Travel Stories with Moush, we're sailing on board the incredible Allure of the Seas - one of the most iconic ships in the world, as we dive into the world of cruise travel with Mohamed Saeed, Managing Director of Royal Caribbean Arabia.Episode Highlights:Allure of the Seas - The second-largest cruise ship in the world, recently refurbished with a $150M dry dock transformation.Destination focused cruising – Explore ports with overnight stays, allowing immersive local experiences without the hassle of constant packing and moving.The Norwegian Fjords - Sail through misty cliffs, waterfalls and remote villages like Ålesund and Geiranger, capped off with a 360° view of glaciers from the North Star capsule aboard the Quantum class ships.Alaska and The Inside Passage - Experience untamed landscapes, from snowcapped peaks to dog sledding, kayaking and visiting the awe-inspiring Tracy Arm Fjord - a place unreachable by road.Asia Highlights - A cruise that takes you from Japan to Singapore, passing through Vietnam, Thailand, Malaysia and hidden gems like Ishigaki and Okinawa.Southern Caribbean (Underrated Gem) - An intimate cruise departing from San Juan, Puerto Rico, with stops in Barbados, Aruba, St. Lucia and the Dominican Republic, offering pristine beaches and rich culture with fewer crowds.Antarctica - An extraordinary, spiritual voyage to the edge of the Earth and witness nature in its purest form, accessible only by cruise.The Galápagos Islands - For those looking for rare biodiversity and once-in-a-lifetime wildlife encounters.Connect with Royal Caribbean at:https://www.royalcaribbean.aeThank you everyone for tuning in today. I hope our conversations have fueled your wanderlust and inspired you to explore the world in new and exciting ways.  Please don't forget to hit that subscribe button on your favorite podcasting channel to keep up with our latest episodes. I would love to know what you think…what kind of travel stories and guests you would like me to cover. So, please do leave a comment, a rating or a review.Do follow me on Instagram and find out who's joining me next week. I'm at @moushtravels. You can also find all the episodes and destinations mentioned by all the guests on my website www.moushtravels.com as well as on the episode show notes. Thanks for listening and until next time safe travels and keep adventuring.  "Want a spotlight on our show? Visit https://admanager.fm/client/podcasts/moushtravels and align your brand with our audience."Connect with me on the following:Instagram @moushtravelsFacebook @travelstorieswithmoushLinkedIn @Moushumi BhuyanYou Tube @travelstorieswithmoush

As Canadian public schools and universities wind down the 2024-2025 academic year this week, Jewish students can enjoy a desperately needed break from what has, by many accounts, been a difficult year for antisemitism in classrooms and on campuses. In the past school year alone, The CJN has reported on more than 70 stories involving protests, vandalism, harassment, lawsuits, school board policies and other incidents that have occurred since Oct. 7: masked anti-Israel protesters smashed buildings at McGill University; a high school in Ottawa played a pro-Hamas song during the Remembrance Day ceremonies; a professor offered students extra marks for cutting class to join, and write essays about, a pro-Palestinian protest; Jewish teachers and at least one pro-Israel school board trustee have been accused of anti-Palestinian racism. Unsurprisingly, enrolment in private Jewish day schools has been soaring, as worried Jewish parents transfer out of the public system so their kids won't be bullied—or worse. And the pro- and anti- Israel battle playing out in Canada's classrooms, school board meetings and most recently during convocation and graduation ceremonies has been impacting Jewish teachers and faculty and students in many ways. On today's episode of North Star, host Ellin Bessner sits down with The CJN's education beat reporter, Mitchell Consky, to take stock of the biggest stories of this past academic year and what the upcoming fall semester could look like. Related links Read more about how, if at all, Canadian universities moved to adopt any of the divestment requests of the pro-Palestinian encampments' students, in The CJN. Learn how Jewish students on campus are publishing their own newspapers because pro-Israel, Zionist views are banned from longtime legacy campus outlets, in The CJN. Hear why the former dean of U of T's medical school, Arnie Aberman, gave back his honorary degree in protest over campus antisemitism. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

Sometimes the most powerful journeys begin not with a step forward, but with a fall that forces you to rise differently. Amy Thurman's life changed in an instant after a traumatic brain injury left her unable to walk, talk, or see clearly. In Episode 240: From Trauma to Times Square, Amy shares her raw and remarkable story of healing and personal growth in midlife. But her story isn't just about recovery—it's about rediscovering purpose and becoming a guide for others. Now a speaker, author, and founder of the Mirror Collective, Amy created the “Polish the Mirror” framework to help women rebuild their confidence, reconnect with joy, and reclaim who they are, beyond their roles, pasts, or setbacks. This empowering podcast episode is for anyone navigating change, loss, or reinvention. Especially for midlife women who feel stuck, this conversation reminds them that they can turn pain into power and that joy can be their North Star. We talk about: How Amy redefined her identity after trauma The mindset shift that changed her healing Why “Polish the Mirror” speaks to every woman's inner spark What joy and purpose look like in midlife

Greetings, and welcome back to the podcast. This episode we are joined by Mr. Michael Kanovsky - founder and CEO of Sky Energy Corp., a private energy and investment company founded in 1993. Mr. Kanovsky is also a Founding Partner and Associate/Mentor of Creative Destruction Lab (Rockies) as well as serving on advisory boards of several private companies.Mr. Kanovsky started his career in investment banking and subsequently has had significant involvement in the oil, gas, renewable & power industries as well as private operating businesses in real estate, marinas and in Seniors Independent & Assisted Healthcare. He previously served as a founding director/shareholder of Northstar Energy Corporation, ARC Resources Ltd., North American Oilsands Ltd., Bonavista Petroleum Ltd (Lead Director) and Seven Generations Energy Ltd. Michael was a past director of Devon Energy Corporation, Pure Technologies Ltd. (Lead Director), TransAlta Corporation, Cequence Energy (Chair) and Precision Drilling Inc. (Vice Chair).Mr. Kanovsky is Director Emeritus of the Advisory Board of the Ivey School of Business, former Vice Chair of the Alberta Children's Hospital Board and former Alberta Chair of the Young Presidents Organization. Mr. Kanovsky is Founder and Director of the Kanovsky Family Foundation which was founded in 2004.Mr. Kanovsky holds a Bachelor of Applied Science (Honours) degree in Mechanical Engineering from Queen's University and a Masters of Business Administration from the Ivey School of Business and is a Professional Engineer.Among other things we discussed The Northstar Energy Days, Bonavista Origins & Ingredients for Long Term Investing.Thank you to our sponsors.Without their support this episode would not be possible:Connate Water SolutionsATB Capital MarketsEPACAstro Rentals Support the show

On this episode of Destination on the Left, Liza Graves shares her journey growing a 100% digital lifestyle publication that she started as a way to help small businesses through the recession. She talks about why it is important to find your North Star and how that can guide you through the ups and downs. We talk through some of the unique ways that StyleBlueprint helps DMOs and tourism businesses reach a traveling audience. What You Will Learn in This Episode: How Liza launched StyleBlueprint during the Great Recession to help support local businesses and why that mission has been the cornerstone of her company's growth Why it's essential to know your North Star as a business or destination, and how that core purpose can help you navigate challenges like economic downturns and the pandemic What it means to tell authentic, experience-driven stories about destinations and small businesses, and why origin stories resonate so powerfully with target audiences How StyleBlueprint partners with destinations and DMOs, and what makes a successful collaboration, including the role of co-ops and customized storytelling Why identifying your brand or destination's true story matters more than following trends, and Liza's tips for discovering and communicating those stories effectively How to break through the clutter when pitching stories to media outlets or digital publications, based on Liza's frontline advice for PR professionals and marketers What collaboration and community-building look like in practice, and why Liza believes working together leads to more sustainable, meaningful growth for destinations and businesses Finding Your North Star From the Great Recession to catastrophic floods and the uncertainty of the pandemic, Liza knows a thing or two about leading through adversity. Her advice is to have a clear North Star, your guiding purpose and values that keep you focused through turbulent times. During the pandemic, StyleBlueprint leaned deeply into its core mission: supporting local. Liza reached out personally to partners, offered flexible arrangements, and championed resources like PPP guidance. Because these actions were rooted in authentic care and community, her business not only weathered the storm but emerged stronger and with deeper trust. Her experience is a master class for tourism professionals: know your core, communicate gratitude, and adapt your offerings while never losing sight of the people and partners who make your destination or business possible. Finding and Telling Destination Stories That Resonate One of the signature advantages of StyleBlueprint is the way it dives deep, trading five-point “Top Things to Do” lists for rich, immersive lifestyle features. Liza advocates for destinations and businesses to invest time in uncovering their true stories, often starting with their own origin. Why did you open your restaurant, shop, or B&B? What local traditions or quirks define your town? It's not always easy to surface the stories closest to us—we're often “too close” to see what's special. Liza encourages hiring a professional storyteller if needed, or leveraging AI tools as a prompt to reflect on why your place or business exists and what personally resonates about its history or community role. These stories aren't just interesting, they magnetize your ideal visitor and forge lasting emotional connections. Strength in Partnerships A standout takeaway from the episode is Liza's embrace of “coopetition”—forming strategic, collaborative storytelling and marketing partnerships even among traditional competitors. StyleBlueprint's co-op articles group similar destinations, such as “guys' weekend getaways” or “mother-daughter retreats,” giving readers variety and context while offering participating locales a cost-effective, high-impact platform. These efforts enhance authenticity and make it easier for destinations to identify and communicate the unique experiences they offer. The key, as Liza notes, is partnering with platforms that “overdeliver,” know their audiences, and, most importantly, care. Resources: Website: https://styleblueprint.com/ LinkedIn Personal: https://www.linkedin.com/in/lizagraves/ LinkedIn Business: https://www.linkedin.com/company/blueprint-inc-local/ Subscribe to StyleBlueprint's daily emails: https://styleblueprint.com/ac-subscribe/ We value your thoughts and feedback and would love to hear from you. Leave us a review on your favorite streaming platform to let us know what you want to hear more o​f. Here is a quick tutorial on how to leave us a rating and review on iTunes!

It's YOUR time to #EdUpClick here to support Elvin & Joe!In this episode, President Series #375, (Powered By ⁠⁠⁠Ellucian⁠⁠⁠ ), & brought to YOU by HigherEd PodConYOUR guest is Dr. Donna Hodge, President, Fitchburg State UniversityYOUR host is ⁠⁠ Dr. Joe SallustioHow is Fitchburg State University serving its regional mission in a crowded higher ed marketplace? What unique programs are distinguishing Fitchburg State from other institutions? How has the definition of "traditional" & "non-traditional" students blurred in today's educational landscape? Why is focusing on education rather than just degrees critical for institutional success? How can higher ed institutions design for the future instead of managing decline? Topics include:Celebrating 130 years while reimagining programs like engineering tech & game design Creating innovative collaborative programs in creative arts therapies Leveraging agility as a state public institution to respond to opportunities Embracing the modern learner's expectations for both digital & human connections Supporting first-generation & minoritized student populations in North Central Massachusetts Addressing food & housing insecurity while delivering quality education Eliminating barriers to enrollment & educational access For #EdUp subscribers only via the extended conversation:Navigating the experience of being the first female president in 130 years Building a "coalition of the willing" leadership approach Challenging socially constructed expectations in higher education Shifting focus from degree completion to educational experience Rethinking the credit hour & degree structure for the future of higher ed Listen in to #EdUpThank YOU so much for tuning in. Join us on the next episode for YOUR time to EdUp!Connect with YOUR EdUp Team - ⁠⁠⁠⁠⁠ ⁠⁠⁠⁠Elvin Freytes⁠⁠⁠⁠⁠⁠⁠⁠⁠ & ⁠⁠⁠⁠⁠⁠⁠⁠⁠ Dr. Joe Sallustio⁠⁠⁠⁠● Join YOUR EdUp community at The EdUp Experience !We make education YOUR business!P.S. If YOU like what YOU hear, feel free to ​ ⁠support our efforts to keep us going!

Yvonne Bajela is Partner at LocalGlobe and Latitude. Tune in to hear her thoughts on: What value can a board bring to startups? (1:28) What is a North Star metric for startup boards, and should  they be looking for one? (5:28) How do you effectively challenge a founder as a NED? (8:58) How do boards  navigate hypergrowth, with the associated challenges? (10:47) What have been the three most challenging situations you've faced as a board member? (12:02) What have you learnt about dealing with founder breakups as a board member?? (12:54) How should boards navigate a rapid change in market dynamics, such as a pandemic or the introduction of AI? (18:26) What approach should organisations take with regard to AI? (25:20) What heuristics can you use to determine whether an AI business has a moat? (28:13) At what stage should founders build a board? (30:32) What are the moments where you've seen independent directors add transformational value? (32:42) How can founder-CEOs ensure their board is giving them a high return on investment? (36:12) What makes a good investor director? (41:05) And the ⚡ The Lightning Round ⚡ (42:54)Host: Oliver Cummings Producer: Will Felton Editor: Alex Fish Music: Kate Mac Audio: Nick Kolt Email: podcast@nurole.com Web: https://www.nurole.com/nurole-podcast-enter-the-boardroom

A direct hit by two Iranian missiles on June 15 caused an estimated $500 million worth of damage to the campus of Israel's Weizmann Institute of Science, in Rehovot, Israel. They destroyed a major cancer research building and a chemistry building that was still under construction. Four days later, Iran targeted the area of Beersheba's Ben-Gurion University campus, directly hitting its teaching hospital, the Soroka Medical Center. A surgical wing was hit, injuring about 70 people, including some patients. The impact also damaged at least half of the university's 60 buildings. Meanwhile, a new strike just yesterday on June 24 in the city killed four Israelis, when the missile hit an apartment complex, rendering many more university staff homeless. Since 2003, the Canadian fundraising chapters of Weizmann and Ben-Gurion have sent over $320 million in donations to these two universities in Israel. The gifts purchased research equipment, built labs, funded scholarships and in some cases, had buildings or departments named after them, including the Schwartz Reisman Institute for Theoretical Physics at Weizmann and the Azrieli National Centre for Autism at Ben-Gurion. Seeing the scenes of destruction has been heartbreaking for Canadian philanthropists. But after the initial shock of the last weeks, Canadian supporters are now swinging into action, launching emergency fundraising campaigns to rebuild—even, as they say, if it takes years. On today's episode of North Star, The CJN's flagship news podcast, host Ellin Bessner checks in with Susan Stern, CEO of Weizmann Canada, and Andrea Freedman, the CEO of Ben-Gurion University Canada. Related links Learn more about Weizmann Institute Canada's emergency fundraising recovery fund. Find out what Ben-Gurion University's Canadian branch is doing to raise funds to rebuild labs and classrooms. How some Canadian wings of Israeli-Jewish charities quietly, and not so quietly, launched appeals for funds after hundreds of Iranian missiles targeted the Jewish State since June 13, in The CJN. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

When Ghost co-founders Dan Lourenco and Ryan Hughes launched their fitness and lifestyle brand in 2016, they weren't chasing headlines or quick exits. They were trying to build a company that felt like a movement.  From the outset, Ghost resonated with a younger, influencer-savvy audience drawn to its bold, candy- and snack-inspired fitness supplements – flavors like Warhead and Sour Patch Kids brought a nostalgic twist to recovery powders and wellness products. Building on this momentum, the brand expanded into energy and hydration beverages, achieving broad distribution across major U.S. and international retailers while cultivating a strong direct-to-consumer presence. In a significant endorsement of its growth and potential, Keurig Dr Pepper acquired a 60% stake in the company for $990 million in October, with plans to purchase the remaining 40% by 2028. So how did a company that deliberately avoided a traditional marketing playbook become a household name in sports nutrition and energy? In a candid conversation, Dan pulls back the curtain on Ghost's rise — from behind-the-scenes YouTube videos to blockbuster licensing deals and national shelf space. He explains why authenticity remains the brand's North Star — and why, for Ghost, that goes beyond simply being founder-led. Dan also reflects on the personal journey behind the business: how stepping away from social media helped him regain focus, and what scaling a brand taught him about leadership, growth, and staying grounded. Show notes: 0:25: Dan Lourenco, Co-Founder & CEO, Ghost – Dan talks about Ghost's mission to become a “100-year brand” built on authenticity, innovation, and community, and how, despite selling a majority stake to Keurig Dr Pepper (KDP), Ghost has retained its founder-led identity. He also discusses why the brand's growth has been rooted in transparency rather than traditional marketing, how differentiation lies in purposeful innovation, and why the company approaches licensing more selectively than in the past. Dan explains how Ghost's expansion into functional beverages was driven by organic customer behavior, and why he emphasizes staying nimble, preserving brand values, and maintaining a startup mindset. He also reflects on the challenges of founder wellness, learning to balance personal fulfillment with leadership, stepping back from personal social media and how he advises entrepreneurs to focus on what truly matters. Brands in this episode: Ghost, Warheads, Sour Patch Kids, Skittles, Cinnabon

"The areas where I think it can be really helpful for communicators to think about are business fluency and thinking about communicators being a business partner. Aligning what they're doing right now, and the decisions they need to make, with a business strategy that has the mission of the company front and center: the North Star." In this episode, Womenheard: Changemakers host Georgia Galanoudis speaks with Diane Schwartz at Ragan Communications, the leading training and networking community for communicators worldwide. As the first female CEO in Ragan's 57-year history, Diane has led the organization to unparalleled growth for the past 5 consecutive years. Listen to this episode for her thoughts on AI's impact in the industry and why asking for help is the key to success. 

Keith discusses the new power shift in the housing market, where buyers now have more power in the Northeast and Midwest.  Ken McElroy joins us to discuss the current state of the real estate market, highlighting a significant decline in apartment building values and a predicted further drop in home ownership rates, potentially below 60%. They note that while some states, like Arizona, have surpassed pre-pandemic housing supply levels, others, like the Northeast and Midwest, still face shortages. Ken emphasizes the importance of affordability and the shift towards renting, predicting a significant increase in renters. He also shares insights on strategic property investments and the benefits of buying at current market lows. Resources: Use the discount code "KEN10" to get a discount on the Limitless Expo event. Show Notes: GetRichEducation.com/559 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  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”  For advertising inquiries, visit: GetRichEducation.com/ad 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 Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, apartment building values have crashed about 30% in the past few years. Well, it's the opinion of today's qualified guest that it's going to get even worse from here. We'll also discuss why rents in the Phoenix area are declining, and a bold prediction on a collapse in the home ownership rate and the hordes of renters that that will create all today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero mark up on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs, and wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Speaker 1  1:59   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:15   Welcome to GRE from the Tigris to the Euphrates to the Mississippi and across 188 nations worldwide. I'm Keith Weinhold GRE founder Forbes real estate council member, Best Selling Author, look for my work in the USA today as well, and you are back inside for another wealth building week of get rich education. What's all that really mean? Ah, I'm just another slack jawed mouth breather with a mic here. Before we get to today's guest, Ken McElroy, let me tell you about housing's new power shift and where we're at today. Three to five years ago, sellers held all the power in virtually every market because the housing supply was so miserably low everywhere. So you had more one tours of real estate and few that were willing to sell. That is still mostly true on a national level, but the new power shift is about the fact that the Northeast and Midwest are replete with home buyers. Queues of buyers are lining up for the few available properties like I've touched on before, and look low available housing supply in these areas, the Midwest and Northeast, that's not a symptom of mass in migration. Hordes of people are not stampeding into Buffalo for the nightlife. It's all due to chronic under building, partly from strict regulation, especially in the Northeast. A big part of the power shift, though, is that we now have fully 10 states that are above pre pandemic supply levels, and you'll notice that none of these are in the Midwest and Northeast. The 10 states are Arizona, which we'll talk about more today, Colorado, Florida, Idaho, Hawaii, Oregon, Tennessee, Texas, Utah and Washington. Here in these places, is where the tables have turned, because supply is catching up with demand in those 10 states. So that's where we're seeing softer home price growth and where buyers have the power, these are some of the states where you can find better deals. Motivated sellers and builders in these places will often buy down your mortgage rate, give you closing cost credits or reward you with incentives, like a free year of property management. In fact, our GRE investment coaches guide you for free to exact property addresses where builders will buy down your mortgage rate to 5% today, one of them will even give you a $9,800 post close credit instead, if you so choose. Often do. Those like that are in those 10 states. They're elsewhere too. You can get started at GRE investment coach.com, conversely, 40 states have less for sale housing inventory than they did as compared to pre pandemic times. This is where sellers still have the power some of the most competitive markets in the nation are buffalo, Hartford, Providence and Boston, where more than 10 active home buyers vie for every single listing. That's per Zillow. That's sort of the real estate equivalent of a Taylor Swift or Beyonce ticket queue. At the other end of the spectrum, shoppers have an easier time in Miami with only 2.6 shoppers per listing, followed by Houston at 3.4 New Orleans at 3.5 and San Antonio at 4.3 nationally active listings are up 31% over last year. That's quite a bit, but we're still 12% below pre pandemic, 2019 inventory levels. And is all this good news or bad news? It totally depends on who you are. If you're holding property in the Northeast and Midwest, you're pretty happy about this strong appreciation in the single family space, but in the southeast, appreciation is non existent. There's even mild depreciation, especially in parts of Florida. If you're looking to own more property in the nation's southeast quadrant, you're now enjoying less buyer competition. In fact, sellers are competing for you, and let's avoid being too assuming. Here I've been talking about things on the state level. States are not monoliths. Philadelphia is not Pittsburgh, Seattle is not Yakima. Cities have different supply situations. Even within one city, the scenario varies, of course, really the bottom line here is that today's recovery from 2022 national supply abyss has been an uneven recovery, where builders are frozen, appreciation soars, where builders hustle, buyers win. So if you're looking for deals, find that short queue.    Today's guest is a familiar one to GRE listeners. He's based in Scottsdale, Arizona, which is the Phoenix Metro. Arizona, though it's fast growing, is still just the 14th most populous state, but Arizona is an interesting market, because we're going to get to see what happens when you have an overbuilt condition, like we do there. We'll discuss that market and the national market as well. Get a key gage on the direction of rents, occupancy and prices, first in the single family space, and then we'll talk about apartments. Anyone that's paid attention to real estate that past few years. Knows that when mortgage rates spiked in 2022 single family values have held up, apartment values plummeted due to their interest rate resets. We'll get insight on if the beleaguered apartment space has bottomed out price wise, or if apartment values still have further to fall.    I'd like to welcome in frequent GRE guest, and he was also one of our earliest back in 2015 Ken McElroy. Ken authored a bunch of successful books, both within and outside of the rich dad series. He's also a well known, successful apartment syndicator with over 10,000 units across several states, and he's also in other parts of the commercial real estate sector, including billboards and self storage. So it's really great to have back on the show. Ken McElroy   Ken McElroy  8:57   good to be here, Keith, thank you. It's been 10 years, man, since we've been doing   Keith Weinhold  9:01   this? Yes, 10 years back in episode 25 since you were first here, more than a decade of this. So we know each other's work really well, and it's such an interesting time in the apartment space. I want to get to that later in our conversation today and really find out if you think that the apartment space has bottomed out. But before we do that, let's talk about the single family space. The audience should know that you can meet both Ken and I in person, as we're both faculty members on the spectacular real estate guys Investor Summit C, which is actually underway now. We're recording this just before the summit. So let's discuss the direction of rents and occupancy. We'll get to price later and Ken although most states still have a housing shortage statewide, Arizona's active housing inventory for sale is 24% above pre pandemic levels. That's what realtor.com tells us, and this. Deeply due to a lot of building, a lot of building usually does not bode well for price growth or rent growth. So tell us about rent, direction and occupancy in the single family space in the Phoenix Metro.   Ken McElroy  10:15   There's a bunch of things happening in the Arizona market. First of all, one is we've had a lot of people move here right in the last 4,5,6, years. Yeah, post pre pandemic, post pandemic, all of that. We are a pretty small state. You got Phoenix, got Tucson, you got Flagstaff, a bunch of other small cities that kind of surround some of those. But it's not like a Texas or a Washington or a lot of these California, like a lot of states, and have a lot of cities to draw from. If people move to Phoenix, that's pretty much where they're they start a lot of times, not every time, but and so it's really interesting. When we have net in migration into Arizona, it really moves the needle for most of these cities. Is kind of the point. And so we're always going to be affordable, we're always going to have great weather, it's safe. We got pretty normal politics, I should say, as compared to some of the others, we really do have a growing population. And so what happened? We had a nice run on the real estate. As you do, you know, we had a nice run on the apartments. We had a nice run on the single family that tapered off when the interest rates went up, essentially, right? You know, we actually built too much. We built too many apartments. We built too many houses. When interest rates went up, people kind of pulled back. That's what you're seeing now. So right now, it's a great time to be a home buyer. It's a great time to be a renter in most of those cities in Arizona specifically. And why would that be? It's because they have a lot of choices. So on the single family side, the listings have gone up, and therefore some of the prices have you know, people are starting to negotiate a little bit more. Now here's the interesting thing, Keith, if you measure it on last year or the year before, it has huge numbers, like you just quoted, you know, 24% but what's happening is things are on the market like 40 days, you know, you know what I mean, like from a week or two, it's doubled or tripled, as you know, that's still not a very realistic market. The market is still, in my opinion, pretty healthy. It's not unbalanced, and before it was a seller's market, and so it's just normalizing. And normalizing, to me, if you go over year, over year, over year, is I think MLS says four to six months of inventory, right? I think things are just normalizing. But if you've been through the run, this is like the end of the world, right? But it's not. It's just things are settling down, and it's the greatest time because they're supposed to be a little bit of friction between the seller and the buyer. I believe there should be just about right. It's never just right, as you know, it's usually pulls on one harder on one side or the other. But we just went through an incredible time where the sellers pretty much got whatever they wanted and the landlords pretty much got whatever they wanted, and so this is just pulling back, you know, the tide's going back out. There's no cause for concern, at least in my world at all. It's supposed to be this way, and we need affordability. We need people to be able to buy homes. We need people to be able to rent. Yeah, I'm in the landlord business, but I don't want rents to run. There needs to be a balance there, even though it's good for me, if it does, but it's not good, because what happens is, then the government gets involved, and what they need to get involved in is adding supply, right? And not capping the rents. You know, what they need to do is just work with developers. And you know, because we're growing here in Arizona right now, we're seeing a pullback, but I think it's needed. There's nothing wrong with this. It weeds out a lot of, you know, realtors that weren't doing much, that just got their license, were hanging around, say, with mortgage folks and title people and lazy contractors and all that stuff. So whenever there's a pullback, the professionals win.   Keith Weinhold  14:01   Well, this is some really good perspective here. We're all victims of the recency bias, and, yeah, you're talking largely about market normalization. What sure wasn't normal or healthy, in a lot of ways, was back in 2021 when you might have had 50 offers for one available property, and people had to bid 50k over the asking price, and they might have waived their inspection, which is typically not a good idea when we talk about rents in the direction of rents, especially there in the Phoenix metro with single family homes, which I know your wife, Daniil, is pretty intimately involved with. Typically, this new supply increases competition. It increases the competition for landlords competing for more of those tenants, which is something that typically is not good for rents. Have we seen declining rents in the local market there in Phoenix?   Ken McElroy  14:54   Of course, yeah. And I'll tell you, there's a bunch of factors. So there's always cross currents. People want one. Answer, but there's not right, like, so let's just pick on a whole bunch of things that went wrong at the tail end of all of this. It was Airbnb. Like, Phoenix and Scottsdale are a huge Airbnb market. I've rented Airbnbs there. Sure. It's incredible, right? And so what happened was a lot of people said, oh, I can buy this house, throw some furniture in it. And, you know, I can get 10,15, 20 grand a month in rent out of these things. And they were right. And then what happened was, there just was too many, so became oversaturated. So you're definitely seeing those back on the market. And so interesting fact, Heath, all you got to do is look at the pictures. And if you see bunk beds. You know, it used to be an Airbnb like, you know what I mean? So that was the one, but two, let's don't forget this run that we just had put a lot of people into the rental market for the first time on the single family side too. So we never really had this many landlords on the single family side as well. And so there's all these mistakes that people made. They bought incorrectly. They had capex work. They bought with floating rate debt. And when rates went up, they weren't cash flowing. They wouldn't know how to manage them. So So there's all this stuff that was kind of going on behind the scenes, on the apartment side of the equation, which is where I hang out. Mostly, I watch all this. And because my class A buildings are competing for single family. They have single family typically wins because it has a yard, has a garage. Nonetheless, I gotta pay attention to it. So it's been interesting to watch. At one point you could not find a home in the Scottsdale area under 500 grand period like nothing. And now, of course, those are starting to come down a little bit more, and there's some softness in the rent, so the renters are have more choices. Now, why is that? There's a couple reasons. If you're a renter and you're looking for a place, you know, I'm sure you're considering a house, but not everybody wants a house, especially if you're single or maybe it's just you and somebody else, and maybe you don't have a pet. There's a lot of reasons that people just don't want to have to a home. So you've got condos and you've got apartments and you've got homes, and then you have school districts. So people definitely want to be in certain school districts based on their children. So you have all these cross currents going on, on where people want to be. And so what does all that mean? What that means is there are certain markets, from a rental standpoint, that are doing extremely well, still, both on apartments, on condos and houses. And then there are other markets that absolutely are not just depends on the concentration of all those things and all those factors that are going on. The one thing that's actually disrupting a market more than anything is apartments and condos. Because, for example, Danielle just had a condo that she owned, and the condo was worth, let's say, 300 grand, but it's probably 25 years old now, yeah, and there's apartments going up, you know, a block from there, right? So her renter is said, you know, I'd rather go over here. Brand new amenities, nine foot ceilings, brand new fitness center, all this stuff. So apartments really do reach into that rental market a little bit. And so there is some spillover between that. But primarily what's going on in Phoenix is there's a lot of new construction. And not just Phoenix. This is Tucson and Greater Phoenix. There's a lot of new construction that was started when rates were low. They were started in 2122 and you know, like, because I'm a builder, it could be a year to 18 months when we're opening a project from the time we put our the shovel in the dirt, we're not even open for a good 18 months. So there's a lag period. And those started opening in 23,24 and certainly 25 and these big projects, two, 300 unit projects, which I have several going right now, they're one to two year lease ups, so you could be looking at two or three year lag on some of the housing that's being provided. So that's all here now that is been good for renters. There's a couple horror stories going on, and I'll just explain. So downtown Phoenix, there was a whole bunch of apartment projects and condo projects that were built trying to attract people to live in downtown Phoenix? Well, there's challenges for downtown Phoenix too, and we won't have to get into that. I don't particularly think that there was ever the real demand for the amount of housing. So what you've done is people build a lot of housing in concentrated areas around the stadium in West Phoenix, near the Cardinal Stadium downtown Phoenix, you know, right in the heart of the business district. So if you were to rent something today, it would be four months free on a 12 month lease.   Keith Weinhold  19:48   Wow, that's about the steepest concession I've ever heard of in my life.   Ken McElroy  19:54   Yes, that's today. So all you gotta do is Google it and you'll see. And the only reason that happened, Keith, is. Is because there was too many units delivered at at a short period of time, and there was the demand, wasn't there? Gosh, now go 10 miles up to Tempe, go to Chandler, go to Scottsdale. No concessions, right? So again, you know, when you look at a market, you're going to see that it typically a lot of these concentrate in certain areas. And so there's a lot of areas in Phoenix where the consumer or the renter has an upper hand a lot. And so they're driving their choices based on their monthly rent. All of that plays into this thing, but the there's areas that are rock solid. And you know that would be Scottsdale, Tempe, Chandler, Gilbert, and there's areas that are over built that would be the west side, downtown Phoenix, the south side, there's areas that there's pockets that you know are in disruption you can kind of pick your poison, right? Like, if you're a landlord, there are areas that you want to buy in areas that you don't want to buy in. And as a renter, you have the same kind of choices. So when you blend it all together, you guys get the national news. But really it's pretty pocketed, just like it can be in any market.   Keith Weinhold  21:12   Well, you bring up so many good points there. Some of these markets that have done more building than usual are in this situation where there is landlord competition for tenants. Now, nationally, we're still under built, so it's interesting to talk about one of these overbuilt conditions in that competition for tenants, like we've been talking about, in general, a tenant prefers a single family home, and it's privacy for sure. They can't always afford that, but the apartment market and the single family rental market are somewhat interrelated, because if there's so much new apartment supply, it's got the appeal of being brand new, and there might even be concessions given, like you've mentioned there Ken and that can make it very attractive for a potentially wannabe single family home renter to go ahead and rent an apartment instead. So this glut of new apartment supply actually can affect the single family rental market somewhat, and competition is really interesting. I mean, certainly in my real estate investment career, I've experienced that. The first time I ever experienced that was that I owned several doors, and they were about 25 years old, and they had garages, each one of them a new apartment complex was built close to those so brand new, and you had to drive by this new apartment complex. Everything nice, shiny new, painted new parking lot, everything a prospective tenant had to drive by that in order to get over to look to my units. That softened my rent somewhat. The one thing that saved me a bit is that my running units were in Anchorage, Alaska, I had the garages with my units. The new apartment building didn't. They only had carports, so I did have a differentiator to help soften the blow in a rental market that became more competitive. Tell us more about the competition for tenants there in Phoenix, whether that's on the single family side or the apartment side can with concessions. And does that mean that you're altering the length of leases there in the local market? Or tell us more about how you're doing that competition?   Ken McElroy  23:10   It's a great question, yeah. So I would say generally, a home is going to be about 1000 bucks more on the average, like if you were just to put a number on it, three bedroom, Rambler type home with a garage in a yard. It's going to be maybe three grand. That apartment, the equivalent was is going to be maybe two grand. So roughly, those are kind of the numbers. But what happens if you're going to rent a house, you're definitely going to pay more money, that's for sure. And of course, depending on the area, depends on the on the rent. Now what's happening in a lot of these markets, like West Phoenix, for example, where you have 1000s of units being added at once, and you get this one month, two month, three month, and the extreme, of course, being four months free, if you're a renter and your rent is two grand, but you get three months free, let's say or four, you're going to take that deal, right? Because your your your average rent is, what 12,13, $1,400 a month, not 2000 so all of a sudden, it's going to impact those single families. So what's happening right now is the apartments that got delivered in in a lot of these geographic areas, these sub markets are definitely impacting the single family rental market. Now, if you're a family and you've got kids and you got pets and you want to be in a school district, you're not even looking you're basically just trying to find the best deal on a home. I get that. But if you have a choice, the rents are about the same, you're going to take the house, sure period I would, you would. So now what's happening is there's, there's such a difference between the rental price of a home versus the rental price of a brand new apartment that people are going to gravitate to the apartments, because those landlords trying to fill those things up are scrambling and marketing to anybody. And everybody and cutting whatever deals they can, because they're just trying to get out of those construction loans. It's a weird market right now. And of course, there are areas Keith that this does not exist at all, right, like you go into like Tempe, and you're not going to have because it doesn't have the available land, you know, which is around Arizona state for example, the Arizona State University. You go into North Scottsdale, you're not going to find this because North Scottsdale doesn't like apartments. And, you know, the homes are a million bucks and up, but there are definitely pockets where this is happening. So if you're a renter and you have choices, this is a great time for you and and to be honest, it's about time, because it was a seller's market and a landlord's market for a long time, and so it's just reverting back to the mean.   Keith Weinhold  25:46   Let's wrap up the discussion about rents and occupancy with what's happening nationally. Ken, since in apartment buildings, you invest in multiple states there, we know, for example, that the home ownership rate recently fell from 65.7% down to 65.1% fewer homeowners means more renters. But that doesn't necessarily mean that they're all going to be absorbed immediately, either. So talk to us about that.    Ken McElroy  26:13   There's an affordability problem, right? We haven't seen a massive adjustment with house prices now you have in areas, of course, I saw your recent podcast on Florida. You know how right the price of a house is, is less than a car today? Yeah, you're right, like so, but what's happening is there are markets that are pulling back, right. There are markets that had a bigger bubble than others, and they're pulling back. And so there's great deals in those markets. A lot of areas in Florida being one of those markets, there are other markets where you don't have that. So we are definitely seeing the same thing. And so we're having, in my opinion, it's the greatest time, because you have people that are, I think, should be able to buy a home. But interest rates seem to be holding at Six 7% and the pricing, albeit, hasn't run like it has, but it's certainly not pulling back like crazy either. It's still over 400 on the average, you know. So if you look at the delta between what it costs to buy a home just mortgage only, and you look at what it costs to rent, it's never been bigger. So the difference between your rent, the rent and a mortgage, has never been bigger. And the other thing Keith, that doesn't get talked a lot about are everything non interest rate and everything non mortgage. So let's start talking about insurance. Let's talk about property tax. Let's talk about, you know, capex. So there's a really good survey that bankrate.com did that said that right now, the average cost to own a home, not mortgage, is 1500 a month. So now that's average. I'm sure there's some that's less. I'm sure it's some that higher. So when you take 1500 a month to own it, plus the mortgage you're talking about quite a bit. It's a heck of a financial commitment when you can just rent for 12, 1314, 1500 and call it a day, you're going to move the needle twice as fast, and you're going to be able to get out of whatever financial situation you're in twice as fast when you don't have all those other costs. So what's really going on now? And the reason why you're starting to see this home ownership rate go down, and I actually make a prediction, gonna do it right now on your show, I think it's gonna go down below 60. I think for the first time in our history, we're gonna see home ownership in the 5050 nines, which is a massive statement. But if you take a look at under Obama got up to 69 and then it was, first of all, it was Clinton, and before that, and then kind of ran, but then it kind of got pulled back under the Bush, and then Obama kind of took the brunt of it. You know, when all that stuff was falling out, but it's been falling, and it's falling. Why it's falling? Because people can't afford a home, and they need to be able to afford a home. So we can't build affordably. The single family market is not affordable, and inflation surpassing wage growth, so you have this massive shift of people, in my opinion, moving from home ownership to the rental side. And there was a time where 1% shift Keith was 1 million people,   Keith Weinhold  29:27   1 million new renters, with every 1% drop in the home ownership rate   Ken McElroy  29:32   was 1 million people. So imagine that it doesn't sound like much when you go 65.7 to 65.1 right? That's a lot of people. When you got about 142 million people in the US, or a billion, right? 340   Keith Weinhold  29:46   350 million in 300 Yeah, about 145 million houses,   Ken McElroy  29:51   45 million, yeah, something like that. So you start to take a look at these numbers. They're massive. So these little 1% movement. It is a lot of people. I think we're going to continue to see it. People need to put their stake in the ground here and get on the landlord side of this, because we're going to see a massive shift of people because they can't afford they're going to be permanent renters, renters for life. And it's not good. I'm not advocating, but it just is what it is, with wage destruction, with inflation, with the affordability, the way it is, people are going to be forced into the rental side of the equation, whereas before, we were always kind of working on the fluctuations of the interest rates and the policies of the President, let's say, or whatever it was, to try to get people to be homeowners, or whatever it might be. Now, we might be in some kind of a permanent state unless something really changes, because we're four or 5 million houses short in the US as a result of the last 20 years. As you know,   Keith Weinhold  30:54   I recently saw a media article that was titled The hidden cost of home ownership, and they were talking about hidden costs as things like maintenance, property taxes, property insurance, utilities. I don't know how in the heck those costs are hidden. Any prospective homeowner needs to be aware of those costs, and inflation impacts those costs, where inflation cannot impact your fixed rate, principal and interest payment. There we have it a brazen prediction from Ken that the home ownership rate will drop below 60% in this cycle and the hordes of renters that that's going to release, we're talking about the direction of rents and occupancy in both Phoenix and the nation at large. We're going to come back after the break and talk about the direction of real estate prices. You're listening to get rich education. Our guest is Ken McElroy. I'm your host. Keith Weinhold.   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. 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Can you corroborate Is that what you're seeing as far as values go there on the ground, or is it different in the sub markets    Ken McElroy  34:20   it's definitely different in the sub markets, but I would definitely concur that it is flat, Keith, it's a very interesting time. People are used to selling things fast. Oh, I'm going to sell this and it trades, and then they're moving it right to something else. They're not used to the markets that you and I grew up in, right which is, you remember the old days where we would list something and it might be on the market for three or four or five months. These people, these kids, these let's last 10 years, they have never seen anything like that. So for me, I think we're just moving back to what I would consider to be normal. I don't see a problem with flat at all. In fact, I think homes are unaffordable and. And flat isn't necessarily bad. That means that both sides are kind of doing deals. That means the seller doesn't hold the cards, and it means the buyer doesn't hold the cards, and so right now is a great time to buy because if a seller is sitting on something for even a couple months, they're not used to it. There's deals to be had right now. And it's, I think, if you have the dry powder and you have the ability to move, is a great time to buy.   Keith Weinhold  35:26   You had mentioned, when we were talking outside this show, that your wife, Danielle has made some interesting moves in her single Yeah, yeah, tell us about that.   Ken McElroy  35:36   It's a fantastic move. I mean, one of the greatest, obviously, I'm doing these big apartment deals, she can't relate, and she's doing these small houses, which she loves. She doesn't like debt. She likes to pay them off, and she manages them all herself. And so she bought this condo years ago, and it's worth about 300 grand, and she paid like 164 years ago, and the rents have dropped. You know, per our last conversation, they were used to be around 1900 now they're around 1700 but the same time, rents have dropped. And why would rents drop? Because there's more competition. There's new apartment buildings being built around the area. The tenants have more choices. Again. There's, you know, rents came down a little bit. So she lost couple 100 bucks a month there, and the HOA hit her with costs. Our insurance went up, our landscaping went up, so all of a sudden their HOA fees started going up. So the rents came down, and the HOA costs went up, squeezes on, yeah, so all sudden she's got this squeeze and so she's looking at it. And I said, you really ought to take a look at your what we call imputed equity. In other words, she has no debt on this thing, so she literally has another way to say it is she has 300,000 sitting in a condo, an asset. What does it matter? What it is and she gets maybe, what does she make it 500 a month, maybe $6,000 okay? Net Cash Flow a year, right? Nothing. So you take your 6000 you divide it by your 300 and it's not a very good return. Yeah, eight. Okay, so she's looking at what we call imputed equity. What's your return on the equity you have? Okay, so she said, I'm going to start looking at these homes that have, like you said, the garages and the yards, because again, we know that should be able to get closer to $3,000 a month on those so she started scouring, and she found one, and it was about 450 grand. So she had to come up with another 150 grand. And so what she did was she sold the unit, the condo she had that had rising HOA and lowering rents for 300 she did a 1031 exchange into the $450,000 house, and then she had to come up with another 150 but her rent now is three grand, and she was able to increase her cash flow By almost $1,000 for a month. So that extra 150 generated about $12,000 of net cash flow gain. And so again, she just purely looked at the math on one and did a 1031 moved it into another one. And now she's super happy it's in a home. And as you know, in a lot of these homes, not always, but you tend to have people that don't move as much. So this the guy that moved in has his son. He has him in a local school. He's young. He's probably going to be there for years, so she's probably not going to have the turnover that she would in a condo project. That's really more like an apartment building. That's what she just did. And so don't forget, when prices are high, you're exiting high and buying high. When prices are in flux, a little bit like they are flat, you're going to be able to find deals. So it's a really good time to take a look at imputed equity and what's your real, true return, and is there a better asset class for you to be able to move that money into? Because this is truly about managing money and maximizing your return on your own dollars. And that's a move that she just made, and she's going to be on the cruise. She'll see you, and I'm encouraging her to actually do a talk on it, because there's a lot more detail to how she pulled it off. But it only took her, like, four or five months to do it, and it worked perfectly.   Keith Weinhold  39:22   Yeah. Well, congratulations there. I'm a fan of debt around here, as you know, on the summit, Daniel and I'll have to have a chat, and I'll talk about why financially free beats debt free and all of that. But I would love to hear her reply. She probably has some really good, sound reasoning for that can nationally apartment values have followed perhaps an astounding 30% because the way I see it is that three or four years ago, there were tons of new apartment starts with those freakishly low mortgage rates like you touched on. Start to completion of an apartment building can be as long as two years. So those starts have now become completion. Dollars, and they need to be leased up. So that's the glut, and that's why apartment vacancies are common in a lot of American markets today, with higher mortgage rates now, we have fewer starts and with less new future apartment supply coming onto the market, which would have been completed in 2025 to 2027 I mean, that's something that could portend well for the future, but the current apartment glut still needs to get absorbed by tenants. So talk to us about that.   Ken McElroy  40:29   That's a great, great tee up for me. Okay, so I'm going to do seven transactions this year. Now, that's all 200 plus units. So I bought 360 unit building and brand new in Las Vegas. We just closed on a 282 unit in north Scottsdale. We bought 152 unit in Phoenix. And on and on and on and on and on. We're really, really, really busy right now, because, to your point, why would we be doing that now? Here's why apartments are valued based on how they're operating period. So high vacancy, high concession, flat rents, high expenses. That's all bad if you own it, it's really good if you buy it. So you want to buy at today's numbers, and that's what we're doing. We're buying at today's numbers, and we think that there's a little window that we've got through 26 to be able to acquire a bunch of apartments at these low values. To your point, they've definitely dropped. There's another case as to why, because the next piece is when the mortgage rate's high, cash flow is less. So when your mortgage payment is higher, all things being equal, your cash flow is less. So when rates went up, then people could pay less, and that drove values down. So if we could lock in today with all this disruption, so that's what we've been focused on. And it's been a very exciting year for our company. And in addition to that, to your point, but you and I have never spoken about, we just broke ground on another deal, and we're just leasing up on a deal down in Tucson that we're we're a 300 unit building that we're just finishing, and we just broke ground on a 312 unit, and we got a couple more slated because we're trying to break ground today. And why would we would break ground today because there's not a lot of subcontractors bidding on the stuff. So we're getting better pricing. The interest rates are high. This is true. That's not necessarily a positive, but we're breaking ground in anticipation of opening in two years, when all this stuff gets absorbed, we're going to be opening and so, you know, if we could time it today with 25 we break ground, we're going to open in 27 this stuff will be absorbed by then the blood will be in the streets in 25 and 26 and maybe early 27 and then it's going to shift again, Keith, and you know, people are slow to react. And so we think we're going to hit this little window at optimal time to be able to open up brand new product in two years.   Keith Weinhold  43:05   That's great. Ken we've been having these conversations for over a decade now, I know, and the way that I see it is that MC companies, your company, was built exactly for times like this. Is that to say that you think apartment values have reached their bottom,   Speaker 2  43:22   so I actually don't think they have yet. That's a funny comment, and here's why, because we also went through this extend and pretend time with lenders, right? So the lenders, whoever bought something, was trying to hold on to it forever. But now, with this new administration and the battle with the, you know, Powell still in office for another year. Who knows really, what's going to happen with rates? Maybe a quarter here, quarter there, whatever. But the reality is, there's no relief in sight. It doesn't appear. Because now we have this high vacancy, we have high expenses, and I don't think there's going to be a lot of interest rate relief. And so I think the lenders are going, you know what? We're gonna start listing these. So we're starting to see just in the last few months, brokers call. I got a call the other day from a broker out of San Antonio. He said a lender called me. They gave me nine deals. He said the keys, they gave me the keys on nine deals now and then I got another one in Dallas. It was 35% occupied, and the loan was 25 million, and the guy said they would take 14, so that's an $11 million haircut to the lender. So you're starting to see these. These are coming into my emails, right? Because they flooded. We are kind of deal. Yeah, it's so good. Now I've passed on everything so far because I think the knife is still falling a little bit, and so I think we're in the first few innings of seeing these kinds of deals, and there needs to be a lot of them, right? Like they need to be everywhere. And then when they're everywhere, everything's listed, and people are looking at them, and there's all this interest, then I think we're going to be at the bottom, but we're darn close. I mean, we're darn close, I would say. Right? We're probably by end of the year close. That's why, if a prudent investor, is getting their dry powder together, now they're meeting with their broker relationships, now they're meeting with their lender relationships, now they're putting together their LPs, and they're starting to go out and look at deals. Now, even if it's no no, no, no, no, no, no. This is the time for you to build relationships and be ready to strike when you start to see stuff this year, toward the end of the year, will will be the bottom and then I also think next year is going to be rocky for a lot of things. Then you're going to see a lot of lender write offs.    Keith Weinhold  45:37   This is really good guidance for what you the listener, can accidentally do if you are a prospective apartment building buyer. Great insight there. Ken. Ken, yes, you and I are about to be together on the real estate guys Investor Summit to see but there's another great event that begins at the end of next month that you put together.    Ken McElroy  45:59   Tell us about that. This is great. I have now we have about 4000 investors. So these are all high net worth people that invest with us. And you know, this is our 24th year in business. So when I meet with all of them, we used to do these investor summits, they would say, What about gold? What about silver? What about oil? What about water? What about timber? What about self storage? What about Office? What about retail? So I'm like, I'm going to create a conference where I can have everything in one spot, and we can invite high net worth, accredited people be able to come there and listen to the best of the best. So no professional speakers, just people that are really doing deals. You know, like we have guys that are building wellness spas and hospitality. Obviously, we have some single family. We got multi family. Got a retail guy, industrial guy, commercial guy, office guy. We got a gold panel. And then we got these economists, and you probably know some of the names. So we got George gammon coming. We got Jeff Snyder, who's unbelievable Euro dollar University. He's coming. We got Brent Johnson, who created what's called the milkshake theory. And just Google it, you'll see it's all about the central banks. We got Jim Rickards, who wrote currency wars and a new case for gold. And we got Lawrence Lepard, who just wrote this book called The Big print. All coming as speakers unpaid, and they're just going to try to deliver the best value they can to the people. Because I tell you what, Keith, I don't know about you, but it's confusing. I'm reading about tariffs, I'm reading about inflation. I'm reading about unemployment. I don't know where interest rates are going. I'm feeling it at the street level, at the main street level, with my apartment buildings, they're harder to manage. The expenses are going up. I try to create this environment to where people can show up and hear real real things, and they can make real decisions and course correct, right, and also take advantage of of some other things. We're also having a manufacturing panel, and I got a whole panel just on the Trump tax bill, because the opportunity zones, the bonus depreciation, all the stuff, these are things that you can do to be able to take action. So this is limitless expo.com. Since we're on your show, they can do KEN10. KEN10, which is a discount, the prices do go up. Obviously they're the highest. They are in July, because that's when the event is but in June, they're still lower. So I would suggest that people go this year, especially with this new administration, and everybody's like, what is going on? Hopefully we can it's starting to clear up some of the confusion that we all have right now and try to figure things out.   Keith Weinhold  48:36   It seems like all we do know is that we don't know limitless ought to help clear some of that up. It is July 31 to August 2. Tell us where it's taking place.   Ken McElroy  48:47   Yeah, it's at the gaylord in Texas, in Dallas, Texas. It's called the Gaylord Texan. It's limitless expo.com. Now we did it last year. There'll be 2000 people. We have 50 speakers. We have five stages, 50 speakers. It's a really high end event. What I mean by that is these are real people doing real deals with real businesses, real investors. It's been fantastic. I haven't had to pay speakers because of the quality of the attendee. That says a lot. It's really been interesting and great. And by the way, I don't really think having big speakers to sell tickets is the way to go. I'd rather have a real quality event, and it's really interesting once you set your mind on something. Because my investors and other investors show up because they do more than invest in just what we do. Like real estate. Everybody wants a little piece of real estate, but they also want to know about Bitcoin. They also want to know about gold, you know. And these are things that I'm not that proficient in, you know. I want to hear from experts in those fields. So it's really been a great, great event.   Keith Weinhold  49:48   You kind of crowdsource the need. You listen to what your audience was asking about, and then you delivered it for them. Limitless expo.com, use the discount code KEN10 to get. Get a discount. Ken McElroy, it's been great chatting about the direction of rents and prices in the both single family space and apartment space. It's been great having you back on the show.   Ken McElroy  50:09   Yeah, for sure. Keith, always great. Man. Good seeing you.   Keith Weinhold  50:18   Yeah. Ken, decidedly bullish on buying real estate, even calling it a great time to buy. He basically believes that because buyers have more power than they did three and four years ago, and they have more options, an emphatic prediction that the home ownership rate will fall below 60% there is profundity here. I mean, the census figures on this go back to the 1960s and the lowest it's fallen in all that time was 63% by the way, homeownership peaked in 2004 at 69% apartment values have crashed about 30% and It's probably going to get worse. So the worst isn't over, but likely will be by about the end of this year. So in Ken's opinion, most of the worst is over. I'm reading in between the lines there on that one. Hey, I hope you've been enjoying this show lately. Next week, we're going to change things up somewhat here. Recently, we've had rather prominent guests on the show, like the father of Reaganomics, David Stockman, then Russell gray last week, this week, the owner of 10,000 running units, Ken McElroy. And you know their perspectives and experience and influence, they are terrific. And I trust that you've learned from them. Next week, we'll have two GRE listeners here on the show, regular listeners, perhaps people more like you, because you can probably relate well to their stories. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  51:59   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  52:22   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point, because even the word abbreviation is too long. My letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text GRE TO 66866   The preceding program was brought to you by your home for wealth building, get richeducation.com    

In this episode, Mike Linch interviews David McIver, who shares his heart for evangelism and the concept of 'Looking for the One.' David recounts personal stories of transformation and emphasizes the importance of cultivating a heart for the lost. He discusses daily practices of evangelism, connecting with people in everyday life, and his experiences in Major League Baseball clubhouses. The conversation highlights the power of prayer, building relationships, and the significance of having a mission statement in life. David concludes with a heartfelt prayer, encouraging listeners to be open to God's leading in their lives.Mike's Biggest Takeaway's:- 75% of churches in America win zero people to Christ.- The concept of 'Looking for the One' focuses on individual connections.- Listening to the Holy Spirit is crucial in evangelism.- Every day can be an adventure in sharing faith.- People are often open to spiritual conversations when approached personally.- Building relationships is key to effective evangelism.Welcome to the Linch with a Leader Podcast, where you're invited to join the spiritual principles behind big success, with host Mike Linch.Subscribe to the channel so you never miss an episode: Watch: @linchwithaleader Prefer just listening? SUBSCRIBE to the podcast here:Spotify: https://open.spotify.com/show/0dJfeLbikJlKlBqAx6mDYW?si=6ffed84956cb4848Apple: https://podcasts.apple.com/us/podcast/linch-with-a-leader/id1279929826Find show notes and more information at: www.mikelinch.comFollow for EVERYDAY leadership content and interaction:Follow on X: https://x.com/mikelinch?s=20Follow on Instagram: https://www.instagram.com/mikelinch?utm_source=ig_web_button_share_sheet&igsh=ZDNlZDc0MzIxNw==https://www.instagram.com/mikelinch/?...JOIN Mike for a Sunday at NorthStar Church:www.northstarchurch.org Watch: @nsckennesaw

For over a week now, we have been reporting stories about Canadians stranded in Israel since that country launched its pre-emptive attack on Iran on June 13. But slowly, and under the radar for security reasons, The CJN has been speaking to some of the first tourists who found ways to evacuate Israel–mostly without any help from the Canadian government. We couldn't report their stories until it was safe to do so. But now that many of the Canadians we interviewed last week are either home or well on their way, we can bring you some of their amazing stories–whether it was boarding that all-expenses paid, chartered luxury Israeli cruise ship for a party-filled voyage to Cyprus or taking an anxiety-filled secret bus trip through Israel to Jordan and then a flight to Cairo, and finally on to Europe, all while hiding their Jewishness and the fact they are gay. Leonard Temes is an architect and interior designer from Toronto who came to Israel for on a Pride mission with a Jewish Federations of North America group, but left clandestinely five days ago. He had the added fright of finding himself on the same plane as those extremist pro-Palestinian protesters who tried to participate on the global March on Gaza, but were kicked out of Egypt by local authorities. Meanwhile Philip Lerner, a Thornhill data scientist, came to Israel to volunteer with an Orthodox youth group connected to the AISH movement. Lerner was offered a berth on that Israeli cruise ship chartered by Birthright, via Ashdod to Cyprus. He's dubbed the overnight voyage “The Jew Cruise”. But Lerner says despite what social media videos you might have seen of the 1,500 Jewish young people dancing and partying on the pool deck, the overall journey was anything but smooth sailing. On today's episode of The CJN's North Star podcast, host Ellin Bessner speaks with both Leonard Temes and Philip Lerner, about how they got out. Related links Hear why some Canadian young people on subsidized Israel-volunteer programs like Birthright and Olami got out of the country, while those with MASA did not, yet, in The CJN. How a Canadian survived a direct missile hit in Tel Aviv, by praying and channeling Queen Esther, her personal heroine, on The CJN's North Star podcast. Read more about Philip Lerner and his advocacy for people with autism, in The CJN. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

Bryan Clayton is a true innovator in the landscaping world and the founder and CEO of GreenPal, often called the “Uber for lawn care.” With a background running a $10 million landscaping business, Bryan leveraged his industry expertise to launch GreenPal, which now connects over 300,000 homeowners with local lawn care pros across the U.S. His journey from hands-on entrepreneur to tech founder is packed with lessons on focus, resilience, and helping others succeed. Bryan's mission: make lawn care as easy as pushing a button, while empowering thousands of service providers to build real businesses. On this episode we talk about: How Bryan grew GreenPal from a startup idea to a nationwide platform in 300+ cities The difference between being self-employed and a true business owner—and why it matters for your income Real stories of GreenPal users earning $1 million a year mowing lawns The biggest challenges of moving from a traditional service business to building a tech company from scratch Why focus, customer obsession, and constant learning are keys to scaling any business The importance of living below your means as an entrepreneur, and how Bryan reinvested everything to fuel growth Lessons from mistakes: delegating too soon (and too late), hiring, and betting on the right people Top 3 Takeaways Niche Down and Master One Thing: GreenPal's success comes from relentless focus on landscaping and lawn care—don't get distracted by shiny objects or unrelated verticals. Empower Others to Win: The best businesses help others succeed. GreenPal is a “business in a box” for service providers, handling everything except mowing the grass so they can focus on growth. Live Lean, Reinvest, and Stay Disciplined: The less you need to live on, the greater your options. Reinvest in your business, avoid lifestyle inflation, and put your money to work for you. Notable Quotes “We have several users on the platform making over $1 million a year mowing yards. That's why I get out of bed in the morning—to help people improve their lives, make more money, and have less headache.” “If you focus on enough other people's success, your success will follow. That's been our North Star.” “The least you can live on, the greater your options. Live as meager as you can, and when you start making money, don't pretend like you're making money—keep reinvesting and building your cushion.” Connect with Bryan Clayton: Website: YourGreenPal.com Instagram: @brianmclayton Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike continues our Summer School series by showing us how to rediscover hope by walking through the story of Jesus raising Lazarus from the dead.

Join host Mark Mathiat on the Essentially You Podcast as he explores the profound influence of faith in leadership and personal growth. In this episode, Mark delves into how your beliefs shape your life's purpose, strengthen your resilience, and connect you to a larger community. Whether you are deeply spiritual, curious, or just starting to explore your faith, this episode offers insights into embracing your beliefs to lead a life of bold impact and fulfillment. Discover the power of purpose-driven living, the inner and outer strength that faith provides, and the vital connection to something bigger than ourselves. Through thought-provoking discussions and practical exercises, learn how to integrate faith into your daily routine and elevate your leadership journey. No matter where you are on your spiritual path, this episode is a reminder that your unique journey is beautiful, and you are not alone. Tune in for encouragement, inspiration, and a call to embrace the beliefs that guide and empower you.

This is a free preview of a paid episode. To hear more, visit theculturejournalist.substack.comThis episode is paywalled. But if you sign up for paid subscription between now and July 4, we'll give you 50% off. For as long as any of us can remember, the NBA has been the cultural North Star of the United States. But according to Ock Sportello, author of a viral Substack article called “Toward a Unified Theory of Uncool,” the league has become a mi…

What happens when you realize the person you've been presenting to the world for decades isn't your true self? Jay Washington's powerful conversation takes us on a journey through authenticity, emotional growth, and unexpected life pivots.The conversation takes a deeply moving turn as Jay shares his transition from being the fun uncle ("funkle") to becoming a father figure ("dunkle") for his niece and nephew after they lost both parents. Rather than seeing this unexpected responsibility as a burden, Jay discovered it became his North Star, providing purpose and healing wounds he didn't know existed. "To make the choice to love a child that you didn't biologically create is a special gift," he reflects.Jay's insights on setting boundaries, emotional intelligence, and breaking generational cycles offer practical wisdom for anyone navigating their own pivot. His simple yet profound advice to his younger self "I would hug him and tell him you are enough" encapsulates the core message of his transformation. For men especially, his advocacy for emotional expression challenges harmful societal norms: "The more emotionally in touch you can be as a man, it takes security in yourself to go against what society has prescribed for you."Guest Bio:Jay Washington is Client Advisor, Vice President Workplace Retirement Solutions for JPMorganChase.  He works with Chase Business Bankers and other intermediaries provide a turnkey 401(k) solution to business owner plan sponsors. Jay Joined JPMC  in March 2025. Prior to that, Jay spent 25 years in the retirement space in various client facing roles, where his passion for better participant outcomes provided a wealth of opportunities.Jay graduated from Indiana University of Pennsylvania, with degrees in Economics and Journalism, and obtained his MBA from Point Park University— in addition to several industry designations. He holds FINRA Series 6, 7, 63 and 65 licenses. In his spare time, Jay enjoys working out and traveling. He is an active father-figure to his niece and nephew, as well as an active member and officer of five nonprofit boards.Connect with Jay:LinkedIn Connect with Theresa and Ivana:Theresa, True Strategy Consultants: tsc-consultants.com LinkedIn @treeconti, Insta @tscconsultants Ivana, Courageous Being: courageousbeing.com LinkedIn @ivipol, Insta @courbeingSITP team, Step Into The Pivot: stepintothepivot.com LinkedIn @step-into-the-pivot, YouTube @StepIntoThePivot

In this week's Live from the Vault, Andrew Maguire welcomes back NorthStar & BadCharts' Kevin Wadsworth and Patrick Karim, who offer a clear, strategic lens on navigating shifting gold, silver and crypto markets with precision and confidence.The duo unpack their scientific, pattern-based charting and technical analysis methodology, rooted in probability and pattern recognition, to deliver consistent, high-confidence trade setups, with a focus on timing and disciplined execution.Get 1 month free of Northstar Badcharts services: https://kinesis.money/pro/northstar-badcharts/Check out their website: https://northstarbadcharts.com/Send your questions to Andy here: https://www.speakpipe.com/LFTV_______________________________________________________________Sign up for Kinesis on desktop:https://kinesis.money/kinesis-precious-metals/?utm_source=youtube&utm_medium=video&utm_campaign=lftv_228Download the Kinesis Mobile app - available App Store and Google Play:Apple: https://kms.kinesis.money/signupGoogle: https://play.google.com/store/apps/details?id=com.kinesis.kinesisappAlso, don't forget to check out our social channels where you can stay up to date with all the latest news and developments from the team.X: https://twitter.com/KinesisMonetaryFacebook: https://www.facebook.com/kinesismoney/Instagram: https://www.instagram.com/kinesismoney/Telegram: https://t.me/kinesismoneyTikTok: https://www.tiktok.com/@kinesismoneyThe opinions expressed in this video by Andrew Maguire and any guest are solely their own and do not reflect the official policy, position, or views of Kinesis. The information provided is for general informational purposes only and does not constitute investment advice, financial advice, or any other type of professional advice.Viewers are encouraged to seek independent financial advice tailored to their individual circumstances before making any decisions related to the gold market or other investments. Kinesis does not accept any responsibility or liability for actions taken based on the content of this video.

In the early hours of Monday, June 16, Alana Ruben Free was sheltering in a friend's safe room—with her friend, several other women and three cats—when they heard the loudest boom any of them had ever experienced. The six-storey apartment building in a popular Tel Aviv district was one of many that was destroyed or badly damaged by a powerful Iranian missile in the barrage that morning; in this case, the missile exploded in the parking lot directly across the street right smack in the neighbourhood's central plaza. The playwright and visual artist, who is originally from Fredericton, N.B., does not even live in Tel Aviv, but in Jerusalem. She was spending a weekend visiting friends and family, including several who had come from Canada for the city's famous Pride parade.and was staying as a guest in a friend's apartment. We aren't saying where it was, following the Israeli military's current censorship protocols. It took Israeli emergency crews a long time to free the four shaken survivors, but except for a cut knee from broken glass, they and their feline friends were fine. Now Ruben Free is crediting her miraculous story to reciting prayers and to reflecting on the story Queen Esther of Persia, her personal Jewish heroine. Alana Ruben Free explains why on today's episode of The CJN_‘s_ flagship news podcast, North Star. Related links Hear more about how Canadians in Israel are being impacted by the Iranian missiles, on the North Star podcast of The CJN. Learn more about Alana Ruben Free. Read more about Alana Ruben Free's art show in Israel, in the archives of The CJN. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

Are you having the same fight over and over in your non-monogamous relationship—and wondering why nothing ever changes?You're not broken. You're in a pattern. And until you understand what's underneath that pattern, it'll keep showing up again and again.In this episode, we're diving into trauma loops—how they form, why they're especially common in non-monogamous relationships, and how to start breaking the cycle for good.

In this episode, Casey and Mike discuss the profound insights shared by Dr. Alicia Britt Chole on leadership, faith, and personal growth. They explore the heavy burdens leaders carry, the complexities of faith beyond simple equations, and the importance of navigating disillusionment. The conversation emphasizes the dangers of distance in relationships, particularly with God, and encourages listeners to embrace the 'night' as a normal part of their journey. The episode concludes with a preview of future guests and episodes.

My guest today is Andra Davidson.Andra is a collaboratively trained Certified Divorce Coach and mediator who created the Better Than Before Divorce™ Program to provide emotional support to men and women navigating divorce.Her clients benefit from her 25+ years of experience in crisis communications, branding, and marketing, as well as my calm strength and commitment to tangible results. She believes anyone dealing with divorce can learn to minimize conflict, communicate effectively, and prioritize healthy coparenting.  Her strength-based approach provides the tools and skills needed to reduce overwhelm and make informed decisions based on goals, not emotions.Andra's favorite past time is enjoying her blended family:  amazing 24-year-old twins, two incredible step-kids, and three adorable dogs.Andra and I met through a storytelling workshop and I was delighted when she agreed to come on the podcast!  Andra graciously shares pieces of her own journey of a divorce she didn't choose and how she has come to find her strengths, confidence, and purpose on the other side.  We talk about the value of finding your NorthStar through the process of divorce, setting manageable goals, having a support system, and determining the best path of parenting if kids are involved, including the difference between co-parenting and parallel parenting.Andra, thank you so much for this inspiring conversation.  Thank you for sharing deeply meaningful stories and wisdom alongside practical and tangible strategies to make divorce a little less difficult.To connect with Andra and find out more about her work in the world, please see the links below.  There are also links to the books and resources Andra mentions. Website: betterthanbeforedivorce.comSocial Media: https://www.facebook.com/CompassRoseDivorceCoachhttps://www.instagram.com/andradavidson_/https://www.linkedin.com/in/andradavidson/https://www.youtube.com/@CompassRoseDivorce Resources:Bill Eddy, High Conflict Institute, and all his books - https://highconflictinstitute.com/Let Them, Mel RobbinsThe Four Agreements, Don Miguel RuizThe Gifts of Imperfection, Brene BrownParentteam.com (amazing parenting coaches)Make Life Less Difficult~ Support:buymeacoffee.com/lisatilstra

Eva Kuper, a Holocaust survivor from Montreal, spent the first five years of her life hiding from the Nazis in German-occupied Poland. Now, the well-known Holocaust educator is stranded in Israel together with a group of university and CEGEP students on the “Journey of Hope”, a trip supported by Montreal's Federation CJA. After visiting Auschwitz with the students two weeks ago, and taking them to see the sites in Poland where Kuper grew up between 1940 and 1945, the delegation landed in Israel a week ago—just before Israel launched its surprise air raids on Iran on June 13. Since then, Iran has been retaliating with nightly barrages of missiles and drones that have now killed 24 people and injured more than 600 others. The action curtailed the Canadians' trip, and the group is now spending its time confined to their hotel, rushing down to bomb shelters when the air raid sirens go off. While the students—and their worried parents—have been anxious, Kuper has been impressed by the scenes of resilience she has observed. She joins _North Star _host Ellin Bessner from Israel. In this episode, you'll also hear from Yair Szlak, the CEO of Federation CJA of Montreal, who explains what his organization is doing to help bring people home, and from Glenn Nashen, a parent of a teenager now on Birthright who is also stranded in Israel. Related links Read more about Eva Kuper, a prolific Holocaust educator, in The CJN. Order a copy of Eva Kuper's autobiography A Beacon of Light, from the Azrieli Foundation survivors memoirs. Learn about the Journey for Hope sponsored by Montreal's Federation CJA. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

While comic books have traditionally been defined by heroes that reflect the extremes of masculinity and femininity, and aimed at a primary straight-male audience, a notable shift has happened over the past 20 or so years. Where queer characters were once merely hinted at, or when included portrayed as grotesque stereotypes, since at least the 2000s comics have become increasingly more inclusive. Now it's common for gay, lesbian, bisexual, transgender, asexual and other gender nonconforming characters to be featured in even the biggest comic-book franchises, and to even helm their own solo books. So join us for our 2025 Pride Month Special as the Great Pop Culture Debate attempts to name the Best LGBTQIA+ Super Hero. Characters discussed: Batwoman, Black Cat, Midnighter, Wiccan, Poison Ivy, Harley Quinn, Green Lantern (Alan Scott), Miss America (America Chavez), Northstar, John Constantine, Apollo, Deadpool, Mystique, Iceman, Dreamer, Superman (Jon Kent). Join host Eric Rezsnyak, GPCD panelists Bob Erlenback and Brendan Hay, and special guest Steve Orlando, prolific comic-book writer for Marvel, DC Comics, and other publishers, as they discuss 16 of the most-popular out super-heroes in comics. Play along at home by finding the listener bracket here. Make a copy for yourself, fill it out, and see if your picks match up with ours! For more exclusive content, including the warm-up in which we discuss even more gay super-heroes that didn't make the bracket, become a Patreon supporter of the podcast today. Looking for more reasons to become a Patreon supporter? Check out our Top 10 Patreon Perks. Episode Credits Host: Eric Rezsnyak Panelists: Bob Erlenback, Brendan Hay Guest Panelist: Steve Orlando Producer: Derek Mekita Editor: Bob Erlenback Theme Music: “Dance to My Tune” by Marc Torch #comics #comicbooks #comicbooksuperhero #lgbt #marvelcomics #dccomics #batwoman #midnighter #northstar #mystique #iceman #jonkent #dreamer #deadpool #poisonivy #harleyquinn #blackcat Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode #120 - In this powerful episode, I am joined by Shab Azma—an accomplished brand strategist, talent manager, and founder of Arc Collective. With over 25 years in the entertainment industry, Shab has helped shape the careers of celebrity experts while championing a new way of doing business—one rooted in passion, purpose, and the divine feminine.Shab shares her journey from managing blockbuster brands at Universal Studios and A-list talent at The Firm to launching her own company after a life-changing plant medicine experience. We discuss what it means to bring heart and authenticity into male-dominated industries, how women can step fully into their leadership, and why balancing masculine and feminine energy in work is more important than ever.This conversation is equal parts career insight, spiritual awakening, and soulful truth-telling—tune in if you're ready to align your outer success with your inner calling.TakeawaysClients come to us with their stories and passions.It's essential to identify your North Star.Creating a strategy requires patience and collaboration.Authenticity is crucial in leadership roles.Balancing masculine and feminine energies is key to success.Delegation and trust empower team members.Money is just energy; it should come from the right sources.Meditation helps strip away distractions to find clarity.Plant medicine can catalyze profound personal transformation.Spirituality is about tuning into your higher self.Sound Bites"What is your North Star?""Money is just energy.""It's an inside job."Chapters00:00 Introduction and Connection02:14 Journey into Branding and Entertainment05:05 The Shift from Performer to Manager08:06 Building Brands and Intellectual Property10:52 The Realization of Purpose13:43 Merging Spirituality with Business18:33 Creating a Collective and Authentic Space22:26 Balancing Masculine and Feminine Energies28:00 The Path to Conscious Leadership40:18 The Journey of Transcendental Meditation42:44 Embracing Spirituality Over Religion46:01 The Role of Plant Medicine in Spiritual Awakening48:43 Experiences with Ayahuasca and Other Plant Medicines53:27 The Importance of Intentional Use of Plant Medicine58:35 Integrating Spirituality into Professional Life01:03:19 The Shift Towards the Divine Feminine01:07:19 Navigating the Impact of AI on Human Connection01:08:51 Living with an Awakened HeartConnect with Shab Azma:WebsiteInstagramLinkedinStreaming: The Sabrina Soto Show & Cultural Eats now available on Hulu, Disney+, and Samsung TV+Channels Let's Connect!⁠Website⁠Instagram FacebookYoutubeRumble⁠Tik Tok⁠Keywordsspirituality, leadership, authenticity, feminine energy, plant medicine, business strategy, collective energy, mentorship, personal growth, women's empowerment

Founder of the Raising Capitalists Foundation and previous co-host of The Real Estate Guys Radio show, Russell Gray, joins Keith to discuss the historical and current devaluation of the U.S. dollar, its impact on investors, and the broader economic implications. Gray highlights how the significant increase in interest rates has trapped equity in properties and affected development. He explains the shift from gold-backed currency to paper money, the role of the Federal Reserve, and the impact of the Bretton Woods Agreement.  Gray emphasizes the importance of understanding macroeconomic trends and advocates for Main Street capitalism to decentralize power and promote productivity. He also criticizes the idea of housing as a human right, arguing it leads to inflation and shortages. Resources: Connect with Russell Gray to learn more about his "Raising Capitalists" project and his plans for a new show. Follow up with Russell Gray to get a copy of the Beardsley Rummel speech transcript from 1946. follow@russellgray.com Show Notes: GetRichEducation.com/558 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  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”.  For advertising inquiries, visit: GetRichEducation.com/ad 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 Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the real backstory on why we have this thing called the dollar? Why it keeps getting debased? What you can do about it and when the dollar will die? It's a lesson in monetary history. And our distinguished guest is a familiar voice that you haven't heard in a while. Today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Russell Gray  1:54   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:10   Welcome to GRE from St John's Newfoundland to St Augustine, Florida and across 188 nations worldwide. I'm Keith weinholden. You are inside get rich education. It's 2025. The real estate market is changing. We'll get into that in future. Weeks today. Over the past 100 years plus, we've gone from sound money to Monopoly money, and we're talking about America's currency collapse. What comes next and how it affects you as both an investor and a citizen.   I'd like to welcome in longtime friend of the show and someone that I've personally learned from over the years, because he's a brilliant teacher, real estate investors probably haven't heard his voice as much lately, because until last year, he had been the co host of the terrific real estate guys radio show for nearly 20 years. Before we're done today, you'll learn more about what he's doing now, as he runs the Main Street capitalist platform and is also founder of the raising capitalists foundation. Hey, it's been a few years. Welcome back to GRE Russell Gray.   Russell Gray  3:19   yeah, it's fun. I actually think it's been maybe 10 years when I think about it, I remember I was at a little resort in Mexico recording with you, I think in the gym. It was just audio back then, no video.    Keith Weinhold  3:24   Yeah, I remember we're trying to get the audio right. Then I think you've been here more recently than 10 years ago. But yeah, now there's this video component. I actually have to sit up straight and comb my hair. It's ridiculous. Well, Russ, you're also a buff of monetary history. And before we discuss that, talk about the state of the real estate market today, just briefly, from your vantage point.   Russell Gray 1  3:55    I think the big story, and I'm probably not telling anybody anything they don't know, but the interest rate hike cycle that we went through this last round was quite a bit more substantial, I think, than a lot of people really appreciated, you know. And I started talking about that many years ago, because when you hit the zero bound and you have 6,7,8, years of interest rates below half a point, the change when they started that interest rate cycle from point two, 525 basis points all the way up to five and a quarter? That's a 20x move. And people might say, well, oh, you know, I go back to what Paul Volcker did way back in the day, when he took interest rates from eight or nine to 18. That was only a little bit more than double. Double is a far cry from 20x so we've never seen anything like that. Part of the fallout of that, as you know, is a lot of people wisely, and I was on the front end of cheerleading This is go get those loans refinanced and lock in that cheap money for as long as possible, because a loan will actually become an asset. The problem is, when you do that, you're kind of married to that property. Now it's not quite as bad. As being upside down in a property and you can't get out of it, but it's really hard to walk away from a two or 3% loan in a Six 7% market, because you really can't take your same payment and end up getting more house. And so that equity is kind of a little bit trapped, and that creates some opportunities, but I think that's been the big story, and then kind of the byproduct of the story. Second tier of the story was the impact it had on development, because it made it a lot harder for developers to develop, because their cost of funds and everything in that supply chain, food chain, you marry that to the 2020, COVID Supply Chain lockdown and that disruption, which, you know, you don't shut an economy down and just flick a switch and have it come back on. And so there's all of that. And then the third thing is just this tremendous uncertainty everybody has, because we just went from one extreme to another. And I think people, you know, they don't want to, like, rock the boat, they're going to kind of stay status quo for a little bit, whether they're businesses, whether they're homeowners, whether they're anybody out there that's thinking about moving them, unless life forces you to do it, you're going to try to stay status quo until things calm down. And I don't know how close we are to things calming down.   Keith Weinhold  6:13   One word I use is normalized. Both the 30 year fixed rate mortgage and the Fed funds rate are pretty close to their long term historic average. It just doesn't feel that way, because it was that rate of increase in 2022 that caught a lot of people off guard, like you touched on Well, Russ, now that we've talked about the present day, let's go back in time, and then we'll slowly bring things up to the present day. The dollar is troubled. It's worth perhaps 3% of what it was 100 years ago, but it's still around since it was established in the Coinage Act of 1792 and it's still the world reserve currency. In fact, only three currencies have survived longer than the dollar, the British pound, the Japanese yen and the Swiss franc. So talk to us about this really relentless debasement of the dollar over time, including the creation of the Fed and the Bretton Woods Agreement and all that.   Russell Gray 7:09   That's a big story, as you know, and I always like to try to break it down a little bit. One of my specialties I'd like to believe, is I speak macro and I speak Main Street. And so when I try to break macroeconomics down, I start out with, why do I even care? I mean, if I'm a main street investor, why do I even care? In 2008 as you know, is a wipeout for me. Why? Because I didn't think anything had happened in the macro I didn't think Wall Street bond market. I didn't think that affected me. One thing I really cared about was interest rates. And I had a cursory interest in the bond market. We just try to figure out where interest rates were going. But for the most part, I thought, as a main street real estate investor, I was 100% insulated. I couldn't have been more wrong, because it really does matter, because the value of the dollar, in other words, the purchasing power of the dollar, and usually you refer to that as inflation, right? If inflation is there, the dollar is losing its purchasing power, and so the higher the inflation rate, the faster you're losing that purchasing power. And you might say, well, maybe that matters to me. Maybe it does. But the people who make the money available to the mortgage community, right to the real estate community to borrow that comes out of the bond market. And so when people go to buy a bond, which is an IOU, they're going to get paid back in the currency that they lent in, in this case, dollars. And if they know, if they're making a long term investment in a long term bond, and they're going to get paid back in dollars, they're going to be worth a whole lot less when they get them back. One of the things they're going to want is compensation for that time risk, and that's called higher interest rates. Okay, so now, if you're a main street investor, and higher interest rates impact you, now you understand why you want to pay attention. Okay, so let's just start with that. And so once you understand that the currency is a derivative of money, and money used to be you mentioned the Coinage Act Keith money, which is gold, used to be synonymous with the dollar. The dollar was only a unit of measure of gold, 1/20 of an ounce. It was a unit of measure. So it's like, the way I teach people is, like, if you had a gallon of milk and you traded, I'm a farmer, and I had a lot of milk, and so everybody decided they were going to use gallons of milk as their currency. Hey, where there's a lot of gallons of milk. He's got a big refrigerator. We'll just trade gallons of milk. Hey, Keith, I really like your beef. I you know, will you sell me some, a side of beef, and I'll give you, you know, 100 gallons of milk, you know, like, Oh, that's great. Well, I can't drink all this milk, so I'm going to leave the milk on deposit at the dairy, and then later on, when I decide I want a suit of clothes, I'll say, well, that's 10 gallons of milk. So I'll give the guy 10 gallons of milk. So I just give him a coupon, a claim, a piece of paper for that gallon of milk, or 20 gallons of milk, and he can go to the dairy and pick it up, right? And so that's kind of the way the monetary system evolved, except it wasn't milk, it was gold. So now you got the dollar. Well, after a while, nobody's going to get the milk. They don't care about the milk. And so now. Now, instead of just saying, I'll give you a gallon of milk, you just say, well, I'll give you a gallon. And somebody says, Okay, that's great. I'll take a gallon. They never opened the jug up. They never realized the jug is empty. They're just trading these empty jugs that used to have milk in them. Well, that's what the paper dollar is today. It went from being a gold certificate payable to bearer on demand, a certain amount of gold, a $20 gold certificate, what looks exactly like a $20 FEDERAL RESERVE NOTE. Today they look exactly the same, except one says FEDERAL RESERVE NOTE, which is an IOU backed by nothing, and the other one said gold certificate, which was payable to bearer on demand, real money. So my point is, is he got money which is a derivative of the productivity, the beef, the soot, the milk, whatever, right? That's the real capital. The real capital is the goods and services we all want. Money is where we store the value of whatever it is we created until we want to trade it for something somebody else created later. And it used to be money and currency were one in the same, but now we've separated that. So now all we do is trade empty gallons, which are empty pieces of paper, and that's currency. So those are derivatives, and the last derivative of that chain is credit. And you had Richard Duncan on your show more than once, and he is famous for kind of having this term. We don't normally have capitalism. We have creditism, right? Everything is credit. Everything is claims on wealth, but it's not real wealth, and it's just when we look at what's going on with our current administration and the drive to become a productive rather than a financialized society, again, as part of this uncertainty that everybody has. Because this is not just a subtle little adjustment on the same course. This is like, No, we're we're going down a completely different path. But fundamentally, your system operates on this currency that is flowing through it, like the blood flowing through your body. And if the blood is bad, your body's sick. And right now, our currency is bad, and so it creates problems, not just for us, but all around the world. And now we're exacerbating that. And I'm not saying it's bad. In fact, I think it's actually it's actually good, but change is what it is, right? I mean, it can be really good to go to the gym and work out before we started recording, you talked about your commitment to fitness, and that if you stop working out, you get unfit, and it's hard to start up again. Well, we've allowed our economy to get very unfit. Now we're trying to get fit again, and it's going to be painful. We're going to be sore, but if we stick with it, I think we can actually kind of save this thing. So I don't know what that's going to mean for the dollar ultimately, or if we end up going to something else, but right now, to your point, the dollar is definitely the big dog still, but I think it's probably even more under attack today than it's ever been, and so it's just something I think every Main Street investor needs to pay attention to.    Keith Weinhold  12:46   And it was really that 1913 creation of the Fed, where the Fed's mandates really didn't begin to take effect until 1914 that accelerated this slide in the dollar. Prior to that, it was really just periods of war, like, for example, the Civil War, where we had inflation rise, but then after wars abated, the dollar's strength returned, but that ceased to happen last century.   Russell Gray  13:11   I think there's a much bigger story there. So when we founded the country, we established legal money in the Coinage Act of 1792 we got gold and silver and a specific unit of measure of gold, a specific unit, measure of silver was $1 and that's what money was constitutionally. Alexander Hamilton advocated for the first central bank and got it, but it was issued by Charter, which meant that it was operated by the permission of the Congress. It wasn't institutionalized. It wasn't embedded in the Constitution. It was just something that was granted, like a license. You have a charter to be able to run a bank. When that initial charter came up for renewal, Congress goes, now we're not going to renew it. Well, of course, that made the bankers really upset, because bankers have a pretty good gig, right? They get to just loan people money. They don't have to do any real work, and then they make money on just kind of arbitraging, you know, other people's money. Savers put their money in, and they borrowed the money out, and then they with fractional reserve, they're able to magnify that. So it's, it's kind of a cool gig. And so what happened? Then he had the first central bank, so then they got the second central bank, and the second central bank was also issued by charter this time when it came up for renewal, Congress goes, Yeah, let's renew it, right? Because the bankers knew we got to go buy a few congressmen if we want to keep this thing going. But President Andrew Jackson said, No, not going to happen. And it was a big battle. Is a famous quote of him just calling these bankers a brood of vipers. And I'm going to put you down. And God help me, I will, right? I mean, it was like intense fact, I do believe he got shot at one point. I think he died from lead poisoning, because he never got the bullet out. So, you know, when you go to up against the bankers, it's not pretty, but he succeeded. He was the last president that paid off all the debt, balanced budget, paid off all the debt, and we got kind of back on sound money. Well, then a little while later, said, Okay, we're going to need, like, something major, and this would. I should put on. I got my, this is my hat, right now, I'll kind of put it on. This is my, my tin foil hat. Okay? And so I put this on when I kind of go down the rabbit trail a little bit. No, I'm not saying this is what happened, but it wouldn't surprise me, right? Because I know that war is profitable, and so sometimes, you know, your comment was, hey, there's the bank, and then there was, you know, the war, or there's the war, then there's a bank, which comes first the chicken or the egg. I think there's an article where Henry Ford and Thomas Edison went to Congress. I think it was December. The article was published New York Tribune, December 4. I think 1921 you can look it up, New York Tribune, front page article   Keith Weinhold  15:38   fo those of you in the audio only. Russ started donning a tin foil looking hat here about one minute ago.    Russell Gray  15:45   I did, yeah, so I put it on. Just so fair warning. You know, I may go a little conspiratorial, but the reason I do that is I just, I think we've seen enough, just in current, modern history and politics, in the age of AI and software and freedom of speech and new media, there's a lot of weird stuff going on out there, but a lot of stuff that we thought was really weird a little while ago has turned out to be more true than we thought. When you look back in history, and you kind of read the official narrative and you wonder, you kind of read between the lines. You go, oh, maybe some stuff went on here. So anyway, the allegation that Ford made, smart guy, Thomas Edison, smart guy. And they go to Congress, and they go, Hey, we need to get the gold out of the banker's hands, because gold is money, and we need money not to revolve around gold, because the bankers control gold. They control the money, and they make profits, his words, not mine, by starting wars, because he was very upset about World War One, which happened. We got involved right after Fed gets formed in 1913 World War One starts in 1914 the United States sits off in the background and sells everybody, everything. It collects a bunch of gold, and then enters at the end and ends it all. And that big influx created the roaring 20s, as we all know, which ended big boom to big bust. And that cycle, which then a crisis that created, potentially a argument for why the government should have more control, right? So you kind of go down this path. So we ended up in 1865 with President Lincoln suppressing states rights and eventually creating an unconstitutional income tax and then creating an unconstitutional currency. That's what Abraham Lincoln did. And then on the back end of that, you know, it didn't end well for him, and I don't know why, but all I know is that we had a financial crisis in 1907 and the solution to that was the Aldrich plan, which was basically a monopoly on money. It's called a money trust. And Charles Lindbergh, SR was railing against it, as were many people at the time, going, No, this is terrible. So they renamed the Aldrich plan the Federal Reserve Act. And instead of going for a bank charter, they went for a constitutional amendment, and they got it in the 16th Amendment, and that's where we got the IRS. That's where we got the income tax, which was only supposed to be 7% only affect like the top one or 2% of earners, right? And that's where we got, you know, the Federal Reserve. That's where all that was born. Since that happened, to your point, the dollar has been on with a slight little rise up in the 20s, which, you know, there's a whole thing about whether that caused the crash or not. But at the end of the day, if you go look at St Louis Fed, which you go look at all the time, and you just look at the long term trend of the dollar, it's terrible. And the barometer, that's gold, right? $20 of gold in 1913 and 1933 and then 42 in 1971 or two, whatever it was, three, and then eventually as high as 850 but at the turn of the century, this century, it was $250 so at $2,500 it would have lost 90% in the 21st Century. The dollars lost 90% in the 21st Century, just to 2500 that's profound to go. That's right, it already lost more than 90% from $20 to 250 so it lost 90% and then 90% of the 10% that was left. And that's where we're at. We're worse than that. Today, no currency, as far as I understand, I've been told this. Haven't done the homework, but it's my understanding, no currency in the history of the world has ever survived that kind of debasement. So I think a lot of people who are watching are like, okay, it's not a matter of if, it's a matter of when. And then the big question is, is when that when comes? What does the transition look like? What rises in its place? And then you look at things like a central bank digital currency, which is not like Bitcoin, it's not a crypto, it's a centrally controlled currency run by the central bank. If we get that, I would argue that's not good for privacy and security. Could be Bitcoin would be better. I would argue, could go back to gold backing, which I would say is better than what we have, or we could get something nobody's even thought of. I don't know. We don't know, but I do think we're at the end of the life cycle. Historically, all things being equal. And I think all the indication with a big run up of gold, gold is screaming something's broken. It's just screaming it right now, not just because the price is up, but who's buying it. It's just central banks.   Keith Weinhold  20:12   Central banks are doing most of the buying, right? It's not individual investors going to a coin shop. So that's really screaming, telling you that people are concerned. People are losing their faith in giving loans to the United States for sure. And Russ, as we talk about gold, and it's important link to the dollar over time, you mentioned how they wanted it, to get it out of the bank's hands for a while. Of course, there was also a period of time where it was illegal for Americans to own gold. And then we had this Bretton Woods Agreement, which was really important as well, where we ended up violating promises that had to do with gold again. So can you speak to us some more about that? Because a lot of people just don't understand what happened at Bretton Woods.   Russell Gray  20:56   What happened is we had the big crash in 1929 and the net result of that was, in 1933 we got executive order 6102 In fact, I have a picture of it framed, and that was in the wake of that in 1933 and so what Franklin Delano Roosevelt did in signing that document, which was empowered by a previous act of Congress, basically let him confiscate all The money. It'd be like right now if, right now, you know, President Trump signed an executive order and said, You have to take all your cash, every all the cash that you have out of your wallet. You have to send it all, take it into the bank, and they're going to give you a Chuck E Cheese token, right? And if you don't do it, if you do it, it's a $500,000 fine in 10 years in prison. Right? Back then it was a $10,000 fine, which was twice the price of the average Home huge fine, plus jail time. That's how severe it was, okay? So they confiscated all the money. That happened in 33 okay? Now we go off to war, and we enter the war late again. And so we have the big manufacturing operation. We're selling munitions and all kinds of supplies to everybody, all over the world, right? And we're just raking the gold and 20,000 tons of gold. We got all the gold. We got the biggest army now, we got the biggest bomb, we got the biggest economy. We got the strongest balance sheet. Well, I mean, you know, we went into debt for the war, but, I mean, we had a lot of gold. So now everybody else is decimated. We're the big dog. Everybody knows we're the big dog. Nine states shows up in New Hampshire Bretton Woods, and they have this big meeting with the world, and they say, Hey guys, new sheriff in town. Britain used to be the world's reserve currency, but today we're going to be the world's reserve currency. And so this was the new setup. But it's okay. It's okay because our dollar is as good as gold. It's backed by gold, and so anytime you want foreign nations, you can just bring your dollars to us and we'll give you the gold, no problem. And everyone's like, okay, great. What are you going to say? Right? You got the big bomb, you got the big army. Everybody needs you for everything to live like you're not going to say no. So they said, Yes, of course, the United States immediately. I've got a speech that a guy named Beardsley Rummel did. Have you ever heard me talk about this before? Keith, No, I've never heard about this. So Beardsley Rummel was the New York Fed chair when all this was happening. And so he gave a speech to the American Bar Association in 1945 and I got a transcript of it, a PDF transcript of it from 1946 and basically he goes, Look, income taxes are obsolete. We don't need income tax anymore because we can print money, because we're off the gold standard and we have no accountability. We just admitted it, just totally admitted it, and said the only reason we have income tax is to manipulate behavior, is to redistribute wealth, is to force people to do what we want them to do, punish things and reward others, right? Just set it plain language. I have a transcript of the speech. You can get a copy of you send an email to Rummel R U, M, L@mainstreetcapitalist.com I'll get it to you. So it's really, really interesting. So he admitted it. So we went along in the 40s and the 50s, and, you know, we had the only big manufacturing you know, because everybody else is still recovering from the war. Everything been bombed to smithereens, and we're spending money and doing all kinds of stuff. And having the 50s, it was great, right, right up until the mid 60s. So the mid 60s, it's like, Okay, we got a problem. And Charles de Gaulle, who was the president of France at the time, went to a meeting. And there's a YouTube video, but you can see it, he basically told the world, hey, I don't think the United States is doing a good job managing this world's reserve currency. I don't think they've got the gold. I think they printed too much money. I think that we should start to go redeem our dollars and get the gold. That was pretty forward thinking. And he created a run on the bank. And at the same time, we passed the Coinage Act in 1965 and took all the silver out of the people's money. So we took the gold in 33 and then we took the silver in 65 right? Because we got Vietnam and the Great Society, welfare, all these things were going on in the 60s. We're just going broke. Meanwhile, our gold supply went from 20,000 tons down to eight and Richard. Nixon is like, whoa, time out. Like, this is bad. And so we had inflation in 1970 August 15, 1971 year before August 15, 1971 1970 Nixon writes an executive order and freezes all prices and all wages. It became illegal by presidential edict for a private business to give their employee a raise or to raise their prices to the customers.    Keith Weinhold  25:30   It's almost if that could happen price in theUnited States of America, right?    Russell Gray  25:36   And inflation was 4.4% and it was a national emergency like today. I mean, you know, a few years ago, like three or four years ago, we if we could get it down 4.4% it'd be Holly. I'd be like a celebration. That was bad. And so that's what happened. So a year later, that didn't work. It was a 90 day thing. It was a disaster. And so in a year later, August 15, 1971 Nixon came on live TV after Gunsmoke. I think it was, and I was old enough I'm watching TV on a Sunday night I watched it. Wow. So I live, that's how old I am. So it's a lot of this history, not the Bretton Woods stuff, but from like 1960 2,3,4, forward. I remember I was there.    Keith Weinhold  26:13   Yeah, that you remember the whole Nixon address on television. We should say it for the listener that doesn't know. Basically the announcement Nixon made, he said, was a temporary measure, is that foreign nations can no longer redeem their dollars for gold. He broke the promise that was made at Bretton Woods in about 1945   Russell Gray  26:32   Yeah. And then gold went from $42 up to 850 and a whole series of events that have led to where we're at today were put in place to cover up the fact that the dollar was failing. We had climate emergency. We were headed towards the next global Ice Age. We had an existential threat in two different diseases that hit one right after the other. First one was the h1 n1 flu, swine flu, and then the next thing was AIDS. And so we had existential pandemic, two of them. We also had a oil shortage crisis. We were going to run out of fossil fuel by the year 2000 we had to do all kinds of very public, visible, visceral things that we would all see. You could only buy gas odd even days, like, if your license plate ended in an odd number, you could go on these days, and if it ended on an even number, you could go on the other days. And so we had that. We lowered our national speed limit down to 55 miles an hour. We created the EPA and all these different agencies under Jimmy Carter to try to regulate and manage all of this crisis. Prior to that, Nixon sent Kissinger over to China, and we opened up trade relations. And we'd been in Vietnam to protect the world from communism because it was so horrible. And then in the wake of that, we go over to Communist China, Chairman Mao and open up trade relations. Why we needed access to their cheap labor to suck up all the inflation. And we went over to the Saudis, and we cut the petro dollar deal. Why? Because we needed the float. We needed some place for all these excess dollars that we had created to get sucked up. And so they got sucked up in trading the largest commodity in the world, energy. And the deal was, hey, Saudis, here's the deal. You like your kingdom? Well, we got the big bomb. We got the big army. You're going to rule the roost in the in the Middle East, and we'll protect you. All you got to do is make sure you sell all your oil in dollars and dollars only. And they're like, Well, what if we're selling oil to China, or what if we're selling oil to Japan? Can they pay in yen? Nope, they got to sell yen. Buy dollars. Well, what do we do with all these dollars? Buy our treasuries. Okay, so what if I got this? Yeah, and so that was the petrodollar system. And the world looked at everything went on, and the world is like, Hmm, the United States coming back to Europe, and Charles de Gaulle, they're like, the United States is not handling this whole dollar thing real well. We need an alternative. What if all of us independent nations in Europe got together and created a common currency? We don't want to be like one country, like the United States, but we want to be like an economic union. So let's create a current let's call it the euro. And they started that process in the 70s, but they didn't get it done till 99 and so they get it done in 99 as soon as they get it done, this guy named Saddam Hussein goes, Hey, I'm now the big dog here. I got the fourth largest army in the world. I'm here in, you know, big oil producing nation. Let's trade in the euro. Let's get off the dollar. Let's do oil in the euro. And he's gone. I'm not sure I should put my hat back on. I'm not sure, but somehow we went into Afghanistan and took a hard left and took this guy out.   Keith Weinhold  29:44   Some credence to this. Yes, yeah, so. But with that said,   Russell Gray  29:47   you know, we ended up with the Euro taking about 20% of the global trade market from the United States, which is about where it sits today. And the United States used to be up over 80% and now we're down below 60% still. The Big Dog by triple and the euro is not in a position to supplant the US, but I think China, whose claim to fame is looking at other people's technology and models and copying it, looked at what the United States did to become the dominant economic force, and I think they've systematically been copying it. I wrote a report on this way back in 2013 when I started really paying attention to it and began to chronicle all the things that they were doing, this big D dollarization movement that I think still has legs. It's the BRICS movement. It's all the central banks buying gold. It's the bilateral trade agreements where people are doing business outside the dollar. There's been not just that, but also putting together the infrastructure, right? The Asian Infrastructure Bank is an alternative to the IMF looking, if you have you read Confessions of an economic hitman. No. Okay, so this is a guy that used to work in the government, I think, CIA or something, and he would go down and he'd cut deals with leaders of countries to get them to borrow from the United States to put in key infrastructure so they could trade with the US. And then, of course, if they defaulted, then the US owned that in the infrastructure. You can look it up. His name is Perkins, right. Look it up confessions of economic hit now, but you see China doing the same thing. China's got their Belt and Road Initiative. And you go through, and if you want to trade with China on that route, you have traded, you're gonna have to have infrastructure. You can eat ports. You're gonna need terminals for distribution. But you, Oh, you don't have the money. We'll loan it to you, and we'll loan it to you and you want. Now we're creating demand for you want, and we also are enslaving borrower servant to the lender. We're beginning to enslave these other nations under the guise of helping them by financing their growth so they can do business with us. It's the same thing the United States did and Shanghai Gold Exchange, as opposed to the London Bullion exchange. So all of the key pieces of infrastructure that were put in place to facilitate Western hegemony in the financial markets the Chinese have been systematically putting in place with bricks, and so there's a reason we're in this big trade war right now. We recognize that they had started to get in a position where they were actually a real threat, and we got to cut their legs out from underneath them before they get any stronger. Again, I should put my hat back on. Nobody's calling me up and telling me, I'm just reading between the lines. Sure,   Keith Weinhold  32:23   there certainly are more competitors to the dollar now. And can you imagine what rate of inflation that we would have had if we had not outsourced our labor and productivity over to a low wage place like China in the east? Russ and I have been talking about the long term debasement of the dollar and why. More on that when we come back, including what Russ is up to today. You're listening to get rich education. Our guest is Russell Gray. I'm your host, Keith Weinhold, the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com. You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time, in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family, 266, 866, to learn about freedom family investments, liquidity fund again. Text family, 266, 866,   Garrett Sutton  34:36   hi. This is Rich Dad advisor, Garrett Sutton. You're listening to the always valuable. Get rich education with Keith Weinhold, don't quit your Daydream.    Keith Weinhold  34:52   Welcome back to get rich education. We're talking with the main street capitalists Russell gray about this long term debasement of the dollar. It's an. Inevitable. It's one of the things we actually can forecast with pretty good predictability that the dollar will continue to debase. It's one of the few almost guarantees that we have in investing. So we can think about how we want to play that Russ one thing I wonder about is, did we have to completely de peg the dollar from gold? Couldn't we have just diluted it where we could instead say, Well, hey, now, instead of just completely depegging the dollar from gold, we could say, well, now it takes 10 times as many dollars as it used to to redeem it for an ounce of gold. Did it make it more powerful that we just completely de pegged it 100%   Russell Gray  35:36   it would disempower the monopoly. Right? In other words, I think that the thing from the very beginning, was scripted to disconnect from the accountability of gold, which is what sound money advocates want. They want some form of independent Accountability. Gold is like an audit to a financial system. If you're the bankers and you're running the program, the last thing in the world you want is a gold standard, because it limits your ability to print money out of thin air and profit from that. So I don't think the people who are behind all of this are, in no way, shape or form, interested in doing anything that's going to limit their power or hold them accountable. They want just the opposite. I think if they could wave a magic wand and pick their solution to the problem, it would be central bank digital currency, which would give them ultimate control. Yeah. And it wouldn't surprise me if we maybe, perhaps, were on a path where some crises were going to converge, whether it's opportunistic, meaning that the crisis happened on its own, and quote Rahm Emanuel and whoever he was quoting, you know, never let a good crisis go to waste, and you're just opportunistic, or, you know, put the conspiracy theory hat on, and maybe these crises get created in order to facilitate the power grab. I don't know. It really doesn't matter what the motives are or how it happens at the end of the day, it's what happens. It happened in 33 it happened in 60. In 71 it's what happens. And so it's been a systematic de pegging of any form of accountability. I mean, we used to have a budget ceiling. We used to talk about now it's just like, it's routine. You blow right through it, right, right. There's you balance. I mean, when's the last time you even had a budget? Less, less, you know, much less anything that looked like a valid balanced budget amendment. So I think there's just no accountability other than the voting booth. And, you know, I think maybe you could make the argument that whether you like Trump or not, the public's apparent embrace of him, show you that the main street and have a lot of faith in Main Street. I think Main Street is like, you know what? This is broken. I don't know what's how to fix it, but somebody just needs to go in and just tear this thing down and figure out a new plant. Because I think if you anybody paying attention, knows that this perpetual debasement, which is kind of the theme of the show is it creates haves and have nots. Guys like you who understand how to use real estate to short the dollar, especially when you marry it to gold, which is one of my favorite strategies to double short the dollar, can really magnify the power of inflation to pull more wealth onto your balance sheet. Problem is the people who aren't on that side of the coin are on the other side of the coin, and so the poor get poorer and the rich get richer. Well, the first order of business in a system we can't control is help as many people be on the rich get richer. That's why we had the get rich show, right? Let's help other people get rich. Because if I'm the only rich guy in the room, all the guns are pointed at me, right? I wanted everybody as rich as possible. I think Trump and Kiyosaki wrote about that in their book. Why we want you to be rich, right? When everybody's prospering, it's it's better, it's safer, you have people to trade with and whatnot, but we have eviscerated the middle class because industry has had to go access cheap labor markets in order to compensate for this inflation. And you know, you talk about the Fed mandate, which is 2% inflation, price inflation, 2% so if you say something that costs $1 today, a year from now, is going to cost $1 too, you think, well, maybe that's not that bad. But here's the problem, the natural progression of Business and Technology is to lower the cost, right? So you have something cost $1 today, and because somebody's using AI and internet and automation and robots and all this technology, right? And the cost, they could really sell it for 80 cents. And so the Fed looks at and goes, Let's inflate to $1.02 that's not two cents of inflation. That's 22 cents of inflation. And so there's hidden inflation. The benefits of the gains in productivity don't show up in the CPI, but it's like deferred maintenance on an apartment building. You can make your cash flow look great if you're not setting anything aside for the inevitable day when that roof is going to go out and that parking lot is going to need to be repaved, right? And you don't know how far out you are until you get there and you're like, wow, I'm really short, and I think that we have been experiencing for decades. The theft of the benefit of our productivity gains, and we're not just a little bit out of position. We're way out of position. That's   Keith Weinhold  40:07   a great point. Like I had said earlier, imagine what the rate of inflation would be if we hadn't outsourced so much of our labor and productivity to low cost China. And then imagine what the rate of inflation would be as well, if you would factor in all of this increased productivity and efficiency, the natural tendencies of which are to make prices go lower as society gets more productive, but instead they've gone higher. So when you adjust for some of these factors, you just can't imagine what the true debased purchasing power of the dollar is. It's been happening for a long time. It's inevitable that it's going to continue to happen in the future. So this has been a great chat about the history and us understanding what the powers that be have done to debase our dollar. It's only at what rate we don't know. Russ, tell us more about what you're doing today. You're really out there more as a champion for Main Street in capitalism.   Russell Gray  41:04   I mean, 20 years with Robert and the real estate guys, and it was fantastic. I loved it. I went through a lot, obviously, in 2008 and that changed me a little bit. Took me from kind of being a blocking and tackling, here's how you do real estate, and to really understanding macro and going, you know, it doesn't matter. You can do like I did, and you build this big collection. Big collection of properties and you lose it all in a moment because you don't understand macro. So I said, Okay, I want to champion that cause. And so we did that. And then we saw in the 2012 JOBS Act, the opportunity for capital raisers to go mainstream and advertise for credit investors. And I wrote a report then called the new law breaks Wall Street monopoly. And I felt like that was going to be a huge opportunity, and we pioneered that. But then after my late wife died, and I had a chance to spend some time alone during COVID, and I thought, life is short. What do I really want to accomplish before I go? And then I began looking at what was going on in the world. I see now a couple of things that are both opportunities and challenges or causes to be championed. And one is the mega trend that I believe the world is going you know, some people call it a fourth turning whatever. I don't consider that kind of we have to fall off a cliff as Destiny type of thing to be like cast in stone. But what I do see is that people are sick and tired of monopolies. We're sick and tired of big tech, we're sick and tired of big media, we're sick and tired of big government. We're sick and tired of big corporations, we don't want it, and big banks, right? So you got the rise of Bitcoin, you got people trying to get out from underneath the Western hegemony, as we've been talking about decentralization of everything. Our country was founded on the concept of decentralization, and so people don't understand that, right? It used to be everything was centralized. All powers in the king. Real Estate meant royal property. That's what real estate it's not like real asset, like tangible it's royal estate. It's royal property. Everything belonged to the king, and you just got to work it like a serf. And then you got to keep 75% in your produce, and you sent 25% you sent 25% through all the landlords, the land barons, and all the people in the hierarchy that fed on running things for the king, but you didn't own anything. Our founder set that on, turn that upside down, and said, No, no, no, no, no, it's not the king that's sovereign. It's the individual. The individual is sovereign. It isn't the monarchy, it's the individual states. And so we're going to bring the government, small. The central government small has only got a couple of obligations, like protect the borders, facilitate interstate commerce, and let's just have one common currency so that we can do business together. Other than that, like, the state's just going to run the show. Of course, Lincoln kind of blew that up, and it's gotten a lot worse after FDR, so I feel like we're under this big decentralization movement, and I think Main Street capitalism is the manifestation of that. If you want to decentralize capitalism, the gig economy, if you want to be a guy like you, and you can run your whole business off your laptop with a microphone and a camera, you know, in today's day and age with technology, people have tasted the freedom of decentralization. So I think the rise of the entrepreneur, I think the ability to go build a real asset portfolio and get out of the casinos of Wall Street. I think right now, if we are successful in bringing back these huge amounts of investment, Trump's already announced like two and a half or $3 trillion of investment, people are complaining, oh, the world is selling us. Well, they're selling stocks and they're selling but they're putting the money actually into creating businesses here in the United States that's going to create that primary driver, as you well know, in real estate, that's going to create the secondary and tertiary businesses, and the properties they're going to use all kinds of Main Street opportunity are going to grow around that. I lived in Silicon Valley, when a company would get funded, it wasn't just a company that prospered, it was everything around that company, right? All these companies. I remember when Apple started. I remember when Hewlett Packard, it was big, but it got a lot bigger, right there. I watched all that happen in Silicon Valley. I think that's going to happen again. I think we're at the front end of that. And so that's super exciting. Wave. The second thing that is super important is this raising capitalist project. And the reason I'm doing it is because if we don't train our next generation in the principles of capitalism and the freedom that it how it decentralizes Their personal economy, and they get excited about Bitcoin, but that's not productive. I'm not putting it down. I'm just saying it's not productive. You have to be productive. You want to have a decentralized currency. Yes, you want to decentralize productivity. That's Main Street capitalism. If kids who never get a chance to be in the productive economy get to vote at 1819, 2021, 22 before they've ever earned a paycheck, before they have any idea, never run a business. Somebody tells them, hey, those guys that have all that money and property, they cheated. It's not fair. We need to take from them. We need to limit them, not thinking, Oh, well, if I do that, when I get to be there, that what I'm voting for is going to get on me. Right now, Keith, there are kids in ninth grade who are going to vote for your next president, right?   Keith Weinhold  45:56   And they think capitalism is evil. This is part of what you're doing with the raising capitalists project, helping younger people think differently. Russ, I have one last thing to ask you. This has to do with the capitalism that you're championing on your platforms now. And real estate, I continue to see sometimes I get comments on my YouTube channel, especially maybe it's more and more people increasingly saying, Hey, I think housing should be a human right. So talk to us about that. And maybe it's interesting, Russ, if I take the other side of it and play devil's advocate, people who think housing is a human right, they say something like, the idea is that housing, you know, it's a fundamental need, just like food and clean water and health care are without stable housing. It's incredibly hard for a person to access opportunities like work and education or health care or participate meaningfully in society at all. So government ought to provide housing for everybody. What are your thoughts there?   Russell Gray  46:54   Well, it's inherently inflationary, which is the root cause of the entire problem. So anytime you create consumption without production, you're going to have more consumers than producers, and so you're going to have more competition for those goods. The net, net truth of what happens in that scenario are shortages everywhere. Every civilization that's ever tried any form of system where people just get things for free because they need them, end up with shortages in poverty. It doesn't lift everybody. It ruins everything. I mean, that's not conjecture. That's history, and so that's just the way it works. And if you just were to land somebody on a desert island and you had an economy of one, they're going to learn really quick the basic principles of capitalism, which is production always precedes consumption, always 100% of the time, right? If you're there on that desert island and you don't hunt fish or gather, you don't eat, right? You don't get it because, oh, it's a human right to have food. Nope, it's a human right to have the right to go get food. Otherwise, you're incarcerated, you have to have the freedom of movement to go do something to provide for yourself, but you cannot allow people to consume without production. So everybody has to produce. And you know, if you go back to the Plymouth Rock experiment, if you're familiar with that at all, yeah, yeah. So you know, just for anybody who doesn't know, when the Pilgrims came over here in the 1600s William Bradford was governor, and they tried it. They said, Hey, we're here. Let's Stick Together All for one and one for all. Here's the land. Everybody get up every day and work. Everybody works, and everybody eats. They starved. And so he goes, Okay, guys, new plan. All right, you wine holds. See this little plot of land, that's yours. You work it. You can eat whatever you produce. Over there, you grace. You're going to do yours and Johnson's, you're going to do yours, right? Well, what happened is now everybody got up and worked, and they created more than enough for their own family, and they had an abundance. And the abundance was created out of their hunger. When they went to serve their own needs, they created abundance forever others. That's the premise of capitalism. It's not the perfect system. There is no perfect system. We live in a world where human beings have to work before they get to eat. When I say eat, it could be having a roof over their head. It could be having clothes. It could be going on vacation. It could be having a nice car. It could be getting health care. It doesn't matter what it is, whatever it is you need. You have the right, or should have, the right, in a free system to go earn that by being productive, but the minute somebody comes and says, Oh, you worked, and I'm going to take what you produced and give it to somebody else who didn't, that's patently unfair, but economically, it's disastrous, because it incentivizes people not to work, which creates less production, more consumption. I have another analogy with sandwich makers, but you can imagine that if you got a group if you got a group of people making sandwiches, one guy starts creating coupons for sandwiches. Well then if somebody says, Okay, well now we got 19 people providing for 20. That's okay, but then all the guys making sandwiches. Why making sandwiches? I'm gonna get the coupon business pretty soon. You got 18 guys doing coupons, only two making sandwiches. Not. Have sandwiches to go around all the sandwiches cost tons of coupons because we got way more financialization than productivity, right? That's the American economy. We have to fix that. We can't have people making money by just trading on other people's productivity. We have to have people actually being productive. This is what I believe the administration is trying to do, rebuild the middle class, rebuild that manufacturing base, make us a truly productive economy, and then you don't have to worry about these things, right? We're going to create abundance. And if you don't have the inflation is which is coming from printing money out of thin air and giving to people who don't produce, then housing, all sudden, becomes affordable. It's not a problem. Health care becomes affordable. Everything becomes affordable because you create abundance, because everybody's producing the system is fundamentally broken. Now we have to learn how to profit in it in its current state, which is what you teach people how to do. We also have to realize that it's not sustainable. We're on an unsustainable path, and we're probably nearing that event horizon, the path of no return, where the system is going to break. And the question is, is, how are you going to be prepared for it when it happens? Number two, are you going to be wise enough to advocate when you get a chance to cast a vote or make your voice heard for something that's actually going to create prosperity and freedom versus something that's going to create scarcity and oppression? And that's the fundamental thing that we have to master as a society. We got to get to our youth, because they're the biggest demographic that can blow the thing up, and they're the ones that have been being indoctrinated the worst.   Keith Weinhold  51:29   Yes, Fed Chair Jerome Powell himself said that we live in a economic system today that is unsustainable. Yes, the collectivism we touched on quickly descends into the tyranny of the majority. And in my experience, historically, the success of public housing projects has been or to mixed at best, residents often don't respect the property when they don't have an equity stake in it or even a security deposit tied up in it, and blight and high crime rates have often followed with these public housing projects. When you go down that path of making housing as a human right, like you said earlier, you have a right to go procure housing for yourself, just not to ask others to pay for it for you. Well, Russ, this has been great. It's good to have your voice back on the show. Here again, here on a real estate show. If people want to connect with you, continue to see what you've been up to and the good projects that you're working on, promoting the virtues of capitalism. What's the best way for them to do that?   Russell Gray  52:31   I think just send an email to follow at Russell Gray, R, U, S, S, E, L, L, G, R, A, y.com, let you know where I am on social media. I'll let you know when I put out new content. I'll let you know when I'm a guest on somebody somebody's show and I'm on the cusp of getting my own show finally launched. I've been doing a lot of planning to get that out, but I'm excited about it because I do think, like I said, The time is now, and I think the marketplace is ripe, and I do speak Main Street and macro, and I hope I can add a nuance to the conversation that will add value to people.   Keith Weinhold  53:00   Russ, it's been valuable as always. Thanks so much for coming back onto the show. Thanks, Keith.   Yeah, terrific, historic outline from Russ about the long term decline of the dollar. It's really a fresh reminder and motivator to keep being that savvy borrower. Of course, real estate investors have access to borrow giant sums of dollars and short the currency that lay people do not. In fact, lay people don't even understand that it's a viable strategy at all. Like he touched on, Russ has really been bringing an awareness about how decentralization is such a powerful force that reshapes society. In fact, he was talking about that the last time that I saw him in person a few months ago. Notably, he touched on Nixon era wage and price controls. Don't you find it interesting? Fascinating, really, how a few weeks ago, Trump told Walmart not to pass tariff induced price increases onto their customers. Well, that's a form of price control that we're seeing today to our point, when we had the father of Reaganomics, David Stockman here on the show, five weeks ago, tariffs are already government intervention into the free market, and then a president telling private companies how to set their prices, that is really strong government overreach. I mean, I can't believe that more people aren't talking about this. Maybe that's just because this cycle started with Walmart, and that's just doesn't happen to be a company that people feel sorry for. Hey, well, I look forward to meeting you in person in Miami in just four days, as I'll be a faculty member for when we kick off the terrific real estate guys Investor Summit and see and really getting to know you, because we're going to spend nine days together. Teaching, learning and having a great time on a cruise ship in the Caribbean. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  55:13   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  55:36   You know whatever you want, the best written real estate and finance info. Oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read. And when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text, GRE to 66866   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

Coming off the heels of our most recent Visionary CEO Mastermind retreat, I wanted to bring you behind the scenes of a powerful theme that came up again and again: belief—and the role it plays in building a business that actually lasts.In this episode, I'm unpacking what it really means to lead from belief, how it fuels growth in both visible and invisible ways, and why it might be the most underutilized (and underestimated) asset in your business strategy.I'm also sharing a personal story about hitting a massive business milestone that, on paper, seemed impossible—but belief made it inevitable. You'll learn how to create your own North Star Belief Statement, what it looks like to align your team and operations around it, and how to track unique KPIs that reflect belief-driven success.Whether you're feeling stuck in the grind or are looking to lead with deeper intention, this episode will help you scale with conviction, clarity, and legacy in mind.Here's what we cover:

Welcome to another powerful episode of The Power of Owning Your Career podcast! Have you ever wondered what it truly takes to pivot from a successful corporate path to building your own empire, all while navigating life's biggest challenges? This week, host Simone E. Morris interviews the phenomenal Dr. Cree Scott—founder and CEO of Serenity Psy Consulting, an executive coach, and a consulting psychologist with over 15 years of experience. Dr. Scott brings a wealth of knowledge in human-centered leadership development, change management, and cultivating employee well-being.   Dr. Scott shares her remarkable and often winding journey to entrepreneurship in this incredibly inspiring conversation. You'll hear about the pivotal moments that led her to bravely leave a thriving corporate role, how her courageous battle with breast cancer profoundly reshaped her approach to career ownership and well-being, and the wisdom she gained every step of the way.   Simone and Dr. Scott dive deep into critical strategies for aligning your professional life with your deepest personal values, the essential role of experimentation and faith when taking bold career risks, and the immense power of staying curious and connected throughout your professional evolution. Dr. Scott also opens up about the invaluable lessons gleaned from her diverse experiences—from thriving as a consultant at major firms to her lifelong pursuit of learning and growth.   Whether you're actively contemplating a significant career pivot, searching for tangible ways to take charge of your professional path, or simply looking for the ultimate inspiration to bet on yourself, this episode is an absolute must-listen. It's packed with practical insights, heartfelt stories, and the motivation you need to confidently get—and stay—in the driver's seat of your own career.   Don't miss a single moment of this transformative conversation! Tune in now and start owning your career today.   Episode Time Stamp: 00:00 Career Reflection: Lost in Advancement 03:43 Reevaluating Life and Career Choices 07:15 Finding Spirituality After Cancer 12:57 "Charting My Leadership Path" 14:35 "Embracing Adventure with Purpose" 17:37 Impact of Doctorate Degree 20:55 Betting on Faith and Self 24:06 Embracing Life's Uncertainty 27:00 "Connector of Diverse Identities"   ✴️ Resources: Book Recommendations: Reinventing You by Dorie Clark The Untethered Soul by Michael Singer The Seat of the Soul by Gary Zukav Books by Wayne Dyer Audible (as a resource for listening to books) Virtual connections and networking conversations Serenity Psy Health website (www.serenity.psyhealth.com) LinkedIn for professional networking   ✴️ Connect with our guest, Dr. Cree Scott: Dr. Cree Scott recommends reaching out to her on LinkedIn—search for "Cree Scott" (with or without the "Dr." in front). She personally manages her social media and welcomes direct messages if you want to connect or have a conversation. You can also visit her website at www.serenity.psyhealth.com for more information.   ✴️ Connect with the show's host, Simone E. Morris: https://www.linkedin.com/in/simonemorris/   ✴️ Want to apply to be a guest or recommend someone for the show?   Visit: https://bit.ly/pooycshowguest   ✴️ Get More Support for Your Career:

For the last three nights in a row, ever since Israel's military and the Mossad began the ongoing strikes on Iran's nuclear program, Maddy Eisenberg and Dave Heilbron—two Canadian tourists in the Holy Land—have been spending hours sheltering in a safe zone beneath a beachfront hotel in Tel Aviv. The two only met this week, while participating in a government-sponsored trip for Jewish LGBTQ leaders who were meant to attend Tel Aviv's famous Pride parade. That was supposed to take place on June 13—but the parade was hurriedly cancelled, and their itinerary curtailed, as news of the initial strikes broke. Since then, every time air raid sirens go off, or their phones alert them to incoming Iranian rockets and missiles, they rush down to the bomb shelter and ride out the anxious hours, together with other tourists and Israelis alike. While the death toll of Israelis killed and wounded continues to climb, and first responders try to dig out those still missing from direct hits on Bat Yam and other Israeli cities, the Pride delegates—who are required to stay within 100 metres of the hotel—are now also worrying about how they will get home, since all flights in and out of the country have been cancelled until further notice. Maddy Eisenberg, a broadcaster and communications strategist in Ottawa, and Dave Heilbron, a human resources executive and Jewish leader now living in the Netherlands, join North Star podcast host Ellin Bessner to describe what they're seeing on the ground. Related links What Global Affairs Canada is telling Canadians in Israel to do, in The CJN. Follow the IDF's official website account on “Operation Rising Lion”. How Canadian Dave Heilbron, a leader of a pro-Israel lobby organization based in Amsterdam, experienced the “pogrom” against Israeli soccer fans in his adopted country, in November 2024. Credits Host and writer: Ellin Bessner (@ebessner) Production team: Zachary Kauffman (senior producer), Andrea Varsany (producer), Michael Fraiman (executive producer) Music: Bret Higgins Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to North Star (Not sure how? Click here)

Are you living life by design or drifting by default?In this soul-aligning episode of the Positive Mindset Podcast, Henry Lawrence delivers a powerful transmission to help you build your inner compass—a daily alignment plan that pulls you back to center, no matter how chaotic life gets.You'll discover:Why external success without internal alignment is a trapHow to build a North Star identity that pulls you into your higher selfThe mindset shift that turns resistance into revelationA guided breathwork moment to lock in your new frequencyThis isn't just motivation—it's a spiritual recalibration. Because the truth is: life will test you. The question is… will you rise or forget who you are?

Mike LInch continues our Summer School series by looking at the story of Jesus and Peter walking on the water.

Humans are in a tough spot right now. Seems like everyone's talking about AI disruption, how to "stay human," why humans will be more or less important, and on and on. But one thing remains certain: business transformation will fail without a human-centric approach. In this episode of The Trending Communicator, host Dan Nestle sits down with change management and change communications legend Kate Bullinger, CEO of United Minds, to discuss the critical role of human-centric approaches in managing organizational change. With over two decades of experience partnering with senior executives on enterprise transformations, Kate shares her wisdom and insights on building purpose-driven cultures and high-performing teams. From M&As to restructuring and leadership transitions, Kate and Dan examine the complexities of change management in today's constantly disrupted business environment. They explore how AI and technology can enhance communication strategies while emphasizing the importance of maintaining a human touch. Kate offers practical advice on creating effective change playbooks, addressing employee concerns, and navigating the challenges of fractured audiences within organizations. Listen in and hear about... Human-centric approaches to organizational change and transformation The importance of creating a "North Star" vision for change initiatives Leveraging AI tools to enhance change management strategies The impact of employee advocacy on organizational reputation and change efforts Future leadership challenges in an AI-driven, hybrid work environment Notable Quotes Human-Centric Change: "Change can't happen if you don't bring the humans along for the journey.” - Kate Bullinger [04:25 → 04:42] Communication During Uncertainty: "Even getting out there and listening and being present can quell a lot of those concerns or at least let people know that there's no new information to share. I think that's something that's really consistent across any kind of change because at the end of the day, it's really about human behavior. Right. And people don't like change." - Kate Bullinger [11:37 → 12:03] Employee Engagement: "The more people feel like they've had a voice or they've had some fingerprint on the process, the more they feel bought in." - Kate Bullinger [29:08 → 29:31] Future Leadership: "When you think about 10 years from now, what is it going to look like to lead a large global organization? I don't. Those leaders won't be in their jobs anymore.” - Kate Bullinger [1:03:52 → 1:04:20] Change Management: "It's not that people are processing faster, but that our ability to engage them in a meaningful and more targeted way that's stakeholder-centric. Even inside the organization, I think is where we want to lean into AI and technology." - Kate Bullinger [1:04:20 → 1:04:35] Resources and Links Dan Nestle Inquisitive Communications | Website The Trending Communicator | Website Communications Trends from Trending Communicators | Dan Nestle's Substack Dan Nestle | LinkedIn Dan Nestle | Twitter/X Kate Bullinger United Minds | Website Kate Bullinger | LinkedIn Timestamps 0:00 Intro: AI content debate on LinkedIn 5:07 Human-centric approach in business transformation 10:37 Challenges of communicating during change 15:42 Creating a North Star vision for change 21:52 Types of business transformations 28:31 Leadership behaviors during organizational change 34:18 Navigating uncertainty as a communications leader 40:19 Using AI tools for employee sentiment analysis 45:11 Developing a modern change management playbook 51:53 Communications teams as organizational nerve centers 59:55 Unique skills gained from managing transitions 1:03:26 Future of leadership in evolving workplaces (Notes co-created by Human Dan and  Flowsend.ai ) Learn more about your ad choices. Visit megaphone.fm/adchoices

Thinking about cruising from Los Angeles on Royal Caribbean's Ovation of the Seas? In this fun trip report episode, I'm joined by my friend Katie as we spill all the details from our recent cruise to Ensenada, Mexico aboard one of Royal's most high-tech ships.From embarkation at the Port of Los Angeles to tacos in Ensenada, we're sharing what surprised us, what we loved, and what we'd definitely skip next time. ✅ Honest review of Ovation of the Seas amenities & entertainment ✅ Tips for first-time cruisers sailing from LA ✅ What to do (and not do) in Ensenada on a short port stop ✅ Dining hits & misses: Windjammer, late night pizza, main dining & more ✅ Was the North Star worth it? And yes, we tried the bumper cars

Christina Sanchez Bonner, M.Ed provides private, one-on-one, college and career consulting. As a third generation Tampanian that grew up in Valrico, FL she graduated from Riverview High School and received a B.A. in Interpersonal and Organizational Communications and a Masters in Education from USF. Services include College Admissions, Academic Advising, Career Consulting, Funding Education, Resumes and Cover Letters and Training and Interview Prep. (813) 315-5214https://www.northstarconsultings.comMyOspreyTV is a special presentation of the Osprey Observer Newspapers www.ospreyobserver.comWebsite: http://ospreyobserver.com https://www.facebook.com/OspreyObserverFans/ https://www.instagram.com/ospreyobserver/https://twitter.com/ospreyobserver

Dominic Crapuchettes is the founder of North Star Games and the designer of massive hits like Wits & Wagers, Say Anything, and the Evolution series—games that have sold over 4.5 million copies. In this episode, Dominic opens up about the rise and fall of North Star, from building a 30-person team and landing six SKUs at Target, to watching the company go bankrupt and eventually buying it back. He shares what he's learned from those hard-won lessons, including how to build frothing fan communities, how to design with audience constraints in mind, and why brand and hook matter as much as gameplay. We also dive into his most ambitious project yet: Nature, a new modular game system launching at Gen Con that aims to bring the magic of collectible games to families and casual players alike. Whether you're a founder, designer, or someone trying to follow your passion while staying afloat, this is an episode you won't want to miss.Think Like A Game Designer is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit justingarydesign.substack.com/subscribe

En este episodio, exploramos una de las barreras más importantes para el empleo en la actualidad: la alfabetización digital. Acompáñanos mientras exploramos Northstar Digital Literacy, un recurso gratuito en el Condado de Ventura que te ayuda a desarrollar las habilidades tecnológicas y la confianza necesarias para solicitar empleos, usar computadoras y tener éxito en la fuerza laboral actual. Escucharás a Eddie Jiménez, facilitador de talleres del programa Ventura County WORKS en el America's Job Center of California, y aprenderás cómo acceder a talleres, evaluaciones y herramientas gratuitas para mejorar tu carrera.

Let's face it: AI is changing the game in ways we couldn't have imagined just a few years ago. As leaders, we're at a crossroads—do we learn how to use this new technology to our advantage, or do we risk falling behind? In this episode, I sit down with Geoff Woods, #1 bestselling author of The AI-Driven Leader and founder of AI Leadership, to explore how leaders can harness AI not just to automate tasks, but to think bigger, make smarter decisions, and unlock the full potential of their organizations. Geoff shares the journey that took him from asking the right questions in boardrooms to co-founding an executive network, The Collective, where 100+ leaders from around the world collaborate to use AI as a competitive advantage. He pulls back the curtain on his “CRIT” framework (Context, Role, Interview, Task) for prompting AI to be more than a tool—it becomes a thought partner that sharpens your vision and reveals the path to 10x growth. We dig into how Geoff overcame massive imposter syndrome when first stepping into AI leadership, the power of reverse engineering your future, and why he believes trying to “know everything about AI” is the surest way to lose. Plus, he shares a powerful story of how an AI-generated interview turned a real estate flipper's 10K-per-deal hustle into a million-dollar multifamily investment in a single month. At the heart of this conversation is a message every leader needs to hear: real transformation isn't about learning AI for the sake of it—it's about using it to build the business (and life) that will stand the test of time.   Meet Our Guest: Geoff Woods Geoff Woods is a visionary business leader, bestselling author, and founder of AI Leadership. He's the host of The AI-Driven Leader podcast and creator of The Collective, a vetted community of executives who are using AI to create future-ready businesses. Geoff previously served as Chief Growth Officer of Jindal Steel and Power, where he helped grow the company's market cap from $750 million to $12 billion in just four years. Earlier, he co-founded the consulting company behind The One Thing, advising businesses from $10 million to $60 billion in revenue. His book, The AI-Driven Leader, offers a practical guide for leaders who want to harness AI strategically—not to do more busy work, but to think bigger, move faster, and lead in ways that truly matter. What You'll Learn in this Episode: Why “knowing everything about AI” isn't the goal—mastery of your strengths is Geoff's “CRIT” framework for using AI as a strategic thought partner How The Collective helps leaders turn insights into action and real revenue The danger of operational overwhelm vs. strategic clarity Why every leader needs to rethink the business that could put them out of business The surprising link between “The One Thing” mindset and AI leadership How Geoff overcame impostor syndrome to become a global AI thought leader Real-world stories of leaders using AI to 10x their businesses How to tap into collective knowledge and stay ahead of rapid change   In this episode:  [00:00:00] Introduction and setting the stage for AI-powered leadership [00:01:02] Geoff's journey from asking questions to driving billion-dollar growth [00:03:18] How asking better questions changed Geoff's approach to AI [00:08:45] Building The Collective: a global network of AI-driven leaders [00:15:00] Using AI to pressure-test your business plan and rethink your North Star [00:21:17] Why AI isn't about replacing expertise—it's about amplifying it [00:26:23] The connection between The One Thing and Geoff's AI philosophy [00:32:31] How Geoff's team uses AI to turn human strengths into superpowers [00:37:48] Rethinking the business you're in—and the one that could put you out of business [00:40:39] The future of AI-driven insights and continuous strategic updates [00:43:51] Where to find Geoff's work and apply to join The Collective [00:44:33] Final reflections on growth, leadership, and staying curious   Resources & Links Geoff Woods Book: The AI Driven Leader Get Geoff's prompt library: Send your book receipt to book@aileadership.com Join The Collective: Apply at aileadership.com LinkedIn: Geoff Woods   Ed Molitor LinkedIn: https://www.linkedin.com/in/themolitorgroup/ Website: https://www.themolitorgroup.com/  

Summary:   In this episode of Higher Density Living, Jason Rigby is joined by Mackenzie Belcastro, a transformational coach and host of the North Star podcast. Together, they explore the struggle of feeling stuck, the fear of the unknown, and the journey to reconnect with your authentic self. Mackenzie shares insights on navigating inner shadows, grounding in the present, and honoring your true self amid life's chaos. Tune in for transformative wisdom and actionable practices to reclaim your personal power.   Overview:   This episode dives deep into the human experience of feeling stuck, disconnected, and overwhelmed by uncertainty. Jason Rigby and Mackenzie Belcastro discuss why these emotions arise, often stemming from a lack of safety and the mind's over-reliance on control. Mackenzie shares her approach to overcoming stagnation by grounding in the present moment, connecting with the body, and exploring the shadows of the self.   The conversation touches on Mackenzie's unique practices for cultivating presence, from mindful walks to setting healthy boundaries, and explores the importance of honoring your energy without guilt. Jason and Mackenzie also discuss the profound wisdom found in meeting one's shadows and listening to the different parts of the self without judgment. Listeners will discover practical strategies for connecting with their true selves and finding clarity amid confusion.   Timestamps: [00:00] – Introduction: Jason Rigby introduces Mackenzie Belcastro, transformational coach and host of the North Star podcast. [03:30] – The Illusion of Control: Jason and Mackenzie discuss how the unknown triggers fear and why embracing uncertainty can be transformative. [08:20] – The Power of Presence: Mackenzie shares why grounding in the present moment is essential for clarity and peace. [13:45] – Navigating Emotional Overwhelm: Practical steps for recognizing and soothing anxiety, guilt, and fear. [17:00] – Honoring Your True Self: Mackenzie reveals her approach to respecting personal energy without guilt. [22:10] – Meeting Your Shadows: The importance of exploring inner parts and shadows for self-awareness. [27:30] – Practical Presence Practices: Mindful walks, intentional breathing, and connecting with the body. [32:00] – Closing Reflections: Jason and Mackenzie discuss the beauty of authenticity and embracing inner darkness.   Quotes: "Feeling stuck often comes from a lack of safety within ourselves." – Mackenzie Belcastro "Grounding in the present is the ultimate act of surrender." – Jason Rigby "Honoring your true self means setting boundaries without guilt." – Mackenzie Belcastro   Resources:

Send Krystal a Text Message.What if securing professional opportunities is less about networking and more about being a decent person? In a conversation with Lisa Cooper Ellison, a trauma-informed writing coach and host of the "Writing Your Resilience" podcast, we explore how authentic connections can open unexpected doors in content creation.Lisa shares how her first major speaking opportunity on NPR arose from connecting with fellow writers rather than a strategic pitch. "These industries are small," she notes, emphasizing the importance of relationships in her work.She discusses her journey from agency therapist to writing coach and podcaster, highlighting the benefits of consistent content creation in enhancing her skills and shaping her coaching programs. Lisa also candidly addresses the challenges of maintaining a podcast amid personal and professional obstacles, offering practical advice for dealing with self-doubt and disruptions.Her metaphor of hill-running encourages creators to focus on the immediate path rather than the overwhelming larger picture. "Let progress, not perfection, be your North Star," she says.Lisa's insights provide a valuable framework for anyone looking to grow their content creation journey. Subscribe to the podcast for more conversations on developing your voice and building genuine connections.If you've wondered why nothing is working in your business in 2025, you need a clear strategy. Download our free guide, Build Your Business's Strategic Foundation, where I'm walking you through a business model canvas and a customer journey map. You'll see how we use this at Proffitt Media, plus find templates for you to create your own. Go to krystalproffitt.com/strategy to download today. Click the "Send Krystal a Text Message" link above to send us your questions, comments, and feedback on the show! (Pssst...we'll do giveaways in upcoming episodes so make sure you leave your name & podcast title.)

Arkansas's AR Learns program provides homeschool families with funds that can be used for educational expenses, including NorthStar Academy's global online courses. As an approved service provider, NorthStar offers accredited curriculum aligned with state standards while connecting students with peers around the world, developing both academic knowledge and cross-cultural understanding.• NorthStar Academy is now an approved service provider for Arkansas's EFA program• Families can receive $1,716 per quarter beginning in the 2025-2026 school year• Funds can be used for curriculum, specialized classes, educational field trips, and more• Similar voucher programs exist in other states including Arizona and Florida• Online learning develops executive functioning and communication skills for college readiness• Global classroom experience connects students across multiple continents• Dual accreditation through ACSI and Cognia ensures quality standardsFor more information about NorthStar Academy, visit nsaschool.com or email info@nsa.school.

In today’s episode we’ll cover common where your North Star is in your birth chart and discuss 5 easy ways to come into alignment with your destiny. Let’s use cosmic guidance to your advantage and remove guessing or hoping for the best as you face major decisions, roadblocks, and beautiful opportunities. Watch https://youtu.be/ugWFaGmIWK4

Keith Weinhold plays a “financial superhero”, defending investors against the "greedy landlord" myth. A Zillow survey reveals the secret sauce of rental success: budget, location, and bedroom count - with pets stealing the show as the ultimate tenant dealbreaker. He exposes the dollar's sneaky inflation plot, showing how savvy investors can turn borrowing into a wealth-building adventure. Imagine homes that cost half their gold price from 100 years ago - mind-blowing!  Real estate investing isn't just a strategy - it's an epic journey of wealth creation!  Resources: GREmarketplace.com/OklahomaCity GREmarketplace.com/Tulsa Show Notes: GetRichEducation.com/episode/557 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  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”  For advertising inquiries, visit: GetRichEducation.com/ad 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 Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE I'm your host, Keith Weinhold. Are Real Estate Investors greedy by nature? Learn why? In a sense, today's homes are actually half price compared to 100 years ago. Then results from a huge tenant survey that reveals the amenities that you must give renters or else they will leave how media headlines can trick you and more today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter, remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Corey Coates  1:56   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:12   Welcome to GRE from Cape Hatteras, North Carolina to the Cape of Good Hope, South Africa and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education. 100 years ago, you could buy the average home with eight kilos of gold. Today, it only costs you four more on that later. But first, as a real estate investor, has a critic or a tenant ever insinuated some form of these two questions to you, either, is it ethical for you to own multiple homes, or even, are you greedy? Now, I doubt that you're going to be asked that question directly, but sometimes you can feel that that's the vibe that someone else is on. Well, there sure are greedy people in the world. You could be rich and greedy, or you could be poor and greedy. Even the definition of greed is an excessive and selfish desire for more wealth than one needs, often driven by a destructive motive. All right, that's the definition like you're willing to destroy other people in the pursuit of wealth that is rather different than acquiring wealth, which is usually done only when you first fulfill the needs of others. All right? Well, say that your critic makes $60,000 per year. Oh, well, then that means that they're in the top 1% of global income earners. I mean, sheesh, then they're like the Jeff Bezos of the developing world. So to help even things out, should your critic have to send half of their salary to Senegal or Mauritania or Burkina Faso if the critic's home has more than one bathroom in it, or they even own one car. Well, then they're fabulously wealthy by world standards. Then do they have to give it away to avoid being greedy? What if they ever worked overtime for extra money? Like is that evidence of certain greed? All that stuff is ridiculous, preposterous amounts don't create greed Spirit does. There is no implicit Machiavellian intent. If you have more wealth than average, where would you even draw the line? Like, once you hit seven rental properties? Oh, that's just fine, but eight of them is too many, or once you live in a home that costs 50% more than an area's median, then is that when it becomes greed? I mean, this doesn't make sense. Higher housing prices these past five years has to do with the lack of housing supply and with the. Abundance of dollar printing. It's those two things. The culprits aren't rental property owners. The culprits are burdensome development regulations and the Federal Reserve printing all the dollars, not your local landlord. Responsible landlords provide and maintain sound housing, and they do that for complete strangers, they're taking a lot of faith. Oh, so then could the tenant actually be the greedy one, if they both resent and expect that treatment from a stranger for free? I mean, real estate investors, hey, we take on risk, DEBT, TAXES, maintenance, insurance, market volatility, and we have the responsibility of building and maintaining a good credit score in most cases. I mean, you're the one that's truly invested in the property, not a tenant that can choose to move out in 30 or 60 days. Landlords are a bit like umpires. They're rarely appreciated, and they only get noticed when they do something wrong. I know I mentioned to you before that when I buy a property pretty soon, I casually mention to my tenant that, you know, each month, I just have to make them aware. Each month I make a big mortgage payment and I have to pay for property tax and insurance on this place. I mean, it's amazing to see how far that little mention goes with both timely rent collection and that they don't resent you as a landlord over time. See, tenants often don't know this because they've never owned property themselves, and actually, as you know, since I use property managers now, I don't make this mention to tenants anymore. See, to tenants often it can feel like they're just sort of renting air, and the rent payments they make to you are very visible to them. What's invisible to them are all of your expenses. You're the one as the investor that's contributing to communities. You are the good steward of a neighborhood's housing stock, and you provide homes for people who either can't or don't want to buy the myth of the evil landlord. It really just ignores realities. I mean, mom and pop investors own 72% of single family rental homes, and the typical landlord owns fewer than three units. Many don't have 401 Ks. I mean, rental properties are their retirement plan. So most landlords, real estate investors, they're not cigar chomping tycoons twirling mustaches atop piles of gold like Scrooge McDuck. They're regular people. So perspectives like this that can really help you ward off both critics and unaware tenants. And you know what odds are, if they had the opportunity, they would often do the same thing at a time when pensions are rare and inflation runs rampant. Who could blame anyone for seeking assets that grow in value and generate income. Here's what you need to know. Everyone plays the financial game in the context of their own economy. You Your critic and your tenant, your awareness and your mindset from listening to the show is merely more broad than others. If everyone understood that being wealthy is actually a choice like you do, we would all be better off. So the bottom line here is that real estate investors are not villains. They're just people trying to build a financial life raft in a financial ocean that is full of icebergs. Rich people aren't necessarily greedy, just like poor people aren't necessarily lazy. Greed exists in somebody's spirit, not in the amount of your net worth or whatever your income level is,.    All right., Well, heading into the summer here, there are more tenant moves than any other season. Rental demand has stayed fairly strong, not super strong, just fairly strong, with rents only up about 2% annually. When you amalgamate single family rentals and apartments, the share of rentals with a concession is dropping because the rental market is fairly strong, and when renters find a place, a lot of them are staying put, like it's the last lifeboat off the Titanic. Of course, these are all phenomena on a national level, and each local area is different. I mean that right, there is something that I could say on nearly every episode with low affordability, the home ownership rate is down and renter numbers are up. Now. I told you a while ago that it would go down that home ownership rate, and in the latest quarter ended, that home ownership rate has dropped from 65.7 down to 65.1 Percent. And that might not sound like much, but homeownership down six tenths of 1% in just a quarter. That means that there are at least about 500,000 new renters in America. More renters means more rental demand, more occupancy, and it's crucial for you to know what those renters want so that you can best serve them again. You're not greedy. You're trying to serve them as well as you can now, Zillow has an arm. It's called the Zillow group population science. It's something I hadn't even heard of until recently. What Zillow did with this group is they surveyed 36,000 US renters of both single family rentals and apartments to find out what trends are and what renters want. And I read their entire lengthy report. I think it was 40 pages, so that you don't have to and what I did is I pulled out the most salient pieces to help you attract and retain tenants, and the top three criteria that renters really consider essential when deciding whether or not to rent your property are the first thing, and 95% said this is that it's got To be within their budget, second, at 85% preferred location. Hmm, does that mean near tacos and coffee shops? And then the third most important thing renters consider essential at 84% is the preferred bedroom count. After that, the Floor Plan and the layout that fits their preferences was most important. After that, it's the preferred number of bathrooms. So note that the preferred number of bedrooms, then, is more important in making the rental decision than the preferred number of bathrooms, although they both matter. And then after that, in order of decreasing importance, is broadband internet, allowing pets and having common amenities like a gym, a business center, a rooftop and a lounge and those things, those common amenities, they were substantially more important for apartment renters than for single family home renters, as you would imagine. And here's key, a separate survey question was asked, What is the main reason that you passed on a particular property and decided not to rent it. Number one easily was that the property prohibited pets. The second biggest choice had to do with pets as well. It was that the property restricted the pet breed or size. The reasons that renters passed on a particular property are so centered around pets. What do pets rule this housing market? Now, that's kind of how it seems. Now, another thing that this survey revealed is like, gosh, it also seems like the age for doing almost anything in America is up. The median renter is age 42 did you have any idea there? 42 probably older than you thought. And the older people are, generally, the quieter they are, and the less they move. The most common application fee paid is $50 that's what the survey found. Hey, maybe that's one thing that hasn't been slapped with tariffs. It's an online world. The typical renter surveyed reported taking only one in person tour. Everything else is swiping, scrolling or going deep on Google Street View. Basically what tenants do is they check out everything online, and then once they've chosen the place that they want to rent, they often make that decision right there online, and then basically that one in person visit is just them showing up to confirm that there aren't any red flags at that place, that they mostly know that they won. And this is good for you if you're self managing and you're showing the places yourselves. I mean, there are just fewer tire kickers than there were back in the day. I mean, hey, talk to your parents. 25 years ago, rental ads were like four lines in a newspaper, no photos at all, so tenants then they had to show up in person to see what a rental place even looked like. Let's look at the percent of renter households in America by household income, less than $50,000 57% of renters were in that range, 50 to 100k 29% and 100k or more, 15% as far as how much security deposit you need to give, 75% of renters said their first month's rent was required to Secure the rental, and only 25% said that they also had to fork over last month's rent to secure it. In a really strong rental market, you can more often ask for that both first and last month's rent to get in. 40% reported getting their entire security deposit back at the end of the rental. Hmm, I guess the. Others pay for that mysterious carpet stain. Most pay additional fees on the rental, 58% and that's things like water, sewer, garbage, recycling or other utilities. And it even includes payment processing. There some landlords charge for that. And again, what I'm talking about here is single family rentals and apartments combined. All right, so more single family renters are going to pay for separate utilities on top of the rent. Of course, about half of American renters have renter's insurance. At 48% I suppose the others are living dangerously. A typical renter uses four websites or apps in their search and as I'm continuing on here with the results from this Zillow Rental survey of 36,000 renters, it also showed that the top three reasons that current renters say that they decide to stay long term are and this is big. I mean, this is about your retention rate. 72% stay long term because they say rental costs are a good deal, that's why they stay next most important is quiet neighbors. Yes, no drum kits or free range toddlers will help in apartments. One noisy neighbor can upset a lot of tenants, but a noisy neighbor that might not be a problem at all when people are dispersed in a single family rental and then the third most important thing in long term retention is 68% of renters stay in a unit because they can't afford to move elsewhere. Two thirds of tenants said their landlord or property manager notified them of a rent increase in the past two years, 37% of renters said they would be very or extremely likely to buy a home if mortgage rates fell. All right, that's about three in eight renters say that as far as the length of leases in America, 64% signed on for a one year lease, and 24% said their lease is longer than a year. So really, to summarize what you've learned here from that survey is that you need to know your audience, 42 year olds with pets and a strong preference for quiet neighbors. Keep your pricing competitive. Embrace tech. People want to apply and pay and do things online, and your tenants will stick around longer. You can either give a man a fish and feed him for a day, or teach a man to fish and feed him for a lifetime.    Here at GRE, we do both get riched occasion.com. Is where you learn through this very show and our videos over there, and our blog articles and more. The name gre marketplace.com is where you take action and see the markets and providers that make the best income properties nationwide. GRE marketplace is also where you get access to our totally free investment coaching strategy sessions with a real human being that has both an MBA and investing experience. And that's something we added three or four years ago that really helps you be profitable as an investor, get paid five ways so that you can have more income and wealth and perhaps even retire early. We help you find the right exact property addresses. That's what we help you do compared to 100 years ago, homes are half price today. This is fascinating. I'll get into that shortly. I'm Keith Weinhold. You're listening to get rich education.    The same place where I get my own mortgage loans is where you can get yours. Ridge lending group NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com. You know what's crazy?    Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds, just say. They're doing nothing. Check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to66866   Speaker 1  20:17   what's up? Everyone? This is HGTV. Tarek al Musa. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  20:35   Welcome back to get rich Education. I'm your host. Keith Weinhold, the headlines say homes are so expensive that you'd think millennials would be forced to live in IKEA showrooms. Now, a year or two ago, here on the show, I think I mentioned to you that at that time, it took eight kilos of gold to buy the average home, about 100 years ago, and at that time, only six. Well today, it took eight kilos of gold to buy an average home in 1920 but it's only four kilos now, in terms of gold, homes are half the price today, and I sent you that pretty shocking image showing this in our newsletter a month or two ago. So what in the monetary twilight zone has happened in the past 100 years? Well, a lot of things. The 1913 creation of the Federal Reserve inflated away your dollar's purchasing power over time. This was basically like giving your teen a credit card with no limit and hoping for the best, then removing the dollar's last link to gold redeemability in 1971 that freed the rains for unlimited dollar creation. And Robert Kiyosaki was here to discuss exactly that on the show with us on episode 358 go back and listen to episode 358 if you haven't heard it and you want to. Before long, dollars got so flimsy that dive bars started stapling them to the wall as decor, and it seems like the next stop for the dollar is kindling for your backyard fire pit. Now, there is, however, an affordability problem today that keeps renters staying as renters. But part of the calculus here is that homes only seem expensive because their values are usually compared to dollars. But that's faulty, because dollars are a moving measuring stick. This is like saying that an hour has 60 minutes in it this year and next year, it'll only have 55 minutes in it. That doesn't work. I mean, she should a few years, everyone would run a marathon in under an hour at that rate. Okay, so changing the measuring stick defeats the very purpose of a measuring stick. Here's what's even more amazing than that fact about the gold, despite that, homes only cost half as much today as they did in 1920 in terms of gold, you also get more home today. Today's homes have smaller lot sizes, smaller yards, but otherwise they have amenities that people couldn't have even dreamed of in 1920 I mean, this is really interesting. Let's compare a typical 1920 new home to a 2025 new home. We've gone from 1048 square feet up to 2411 so the size has more than doubled. Back then there was no Garage. Today you've got a heated garage. Back then you had one bathroom or even an outhouse in 1920 Oh, today you have two or three or even more indoor bathrooms in just the average new build home back in 1920 you had a wood burning stove that you had to keep loading, and you're like splitting and stacking firewood and storing that somewhere. Today, you have central heating. Just push a button. Back more than 100 years ago, you had no AC. Today, AC is completely standard. You had no insulation a lot of times in 1920 homes today you've got smart insulation. You used to have a very basic kitchen. Today you've got a center island and granite and quartz countertops. You had an ice box back in 1920 and a nice refrigerator or two. Today, back then, you had no dishwasher or garbage disposal. Today, you have both. Back in 1920 you had to use a washboard in a ringer to wash and dry your clothing. Can you imagine that today you have a washing machine? You had an outdoor clothesline back then today you have a dryer back in. 1920 you had these claw foot bathtubs, and often no shower. Today you have both bathtubs and showers, and several of them. Back then you had nothing where today you have a dedicated laundry room, and a lot of times a home office, and sometimes even a gym. I mean, so all those changes right there over the last 105 years. This really puts the exclamation point on the fact that homes are cheaper today. In terms of the value that you get, today's homes might be a third or a quarter of the price that they were a century ago. You can't point to mortgage rates either. They're still below their long run average of 7.7% per Freddie Mac the thing you've got to point to, the big problem here, the elephant in the room, is that salaries have not kept up with inflation, and that is the real crux of the problem in hurting homes affordability. Look, and this could be a real epiphany for you here that affordability fact is even more reason to move today's depreciating dollars into real assets and move that with emphasis and with urgency, dollar savers are just such massive losers. All right, so then, what is the opposite of saving dollars? Some people think it's spending dollars. No, the opposite of saving is not spending. It's borrowing dollars. That's how you go negative on that. The opposite of spending is not saving, it is borrowing. That is how you go negative and short the falling dollar. This really it's all just a fresh approach on what people need to consider doing. Borrow dollars, own income property, let tenants pay your debt, let inflation also shrink your debt like a cheap shirt that spends too much time in a clothing dryer, and just watch inflation pump up your asset price at the same time. Now you are just winning all over the place. You are racking up more wins than Novak Djokovic at the Australian Open. That's why I am resolute about saying what no one else out there says real estate done right is not an inflation hedge. A hedge is a defensive investing strategy where you break even. I mean, no one plays a game hoping for an outcome of a tie, spending money as an inflation hedge. That's why I refer to borrowing for income property as inflation profiting. That's the reason why. And see, other people's money pays down your debt, both the tenant and the inflation are whittling that away for you. Oh, and hey, for my fellow math weirdos, in 1920 a new home cost $6,300 and there are 35 ounces in a kilo of gold, and you can figure out the rest from there to see that homes cost half as much in gold. Now the bottom line here is that the real estate market is not broken. The dollar is and that dollar measuring stick is so miserably distorted and perverted that some people can't even see what's going on anymore. I've got another interesting way of helping you see this.    Let's look at something more recent than 1920 let's go back 30 years. Do you have any idea what the median us home price was then? Any guess 30 years ago, that's kind of charming. It was a modest $130,000 All right, with an 80% loan and zero principal pay down your mortgage balance would be a featherweight 104k today, that is a clear way of seeing how inflation debases your debt. And of course, the tenant would have paid it off for you by now as well. But I mean a loan balance of $104,000 without any principal pay down, sheesh, that's less than some people's American Express card limit. Really think about that by removing the principal pay down component, you can really see with transparency and lucidity the effect of inflation whittling down a loan balance to 104k and that is just 25% of today's median home price of $416,900 that is a stark example of inflation profiting, how your debt got relentlessly debased by the Fed. And of course, rental properties tend to be less expensive than this median number that I'm talking about. So the typical rental property is. In this scenario, you might just have a loan balance of 75k today, here, 30 years later, and the property would be worth, say, 300k inflation makes your loan balances feel like a featherweight over time. All right, now let's go somewhat further back in time again, 1950s Florida.    Last month, in our newsletter, I sent you those fascinating old newspaper clippings from a real estate sales ad from 1955 in the Miami area and a two bedroom, single family home, one bath, screened porch and a carport. Its price was $7,450 for the entire Miami area home. And the ad also showed that your monthly payment is $48 and then, okay, so that was a two bedroom, single family home this Miami area, three bed, one bath home with a screen porch, $7,900 so only an extra 450 bucks for an extra bedroom, that is the purchase price of the entire asset. And the monthly payments on this three bedroom are 50 bucks a month, a little more than the 48 bucks a month that it was for the two bedroom. And here's the thing, the monthly payment amount, as shown in this old newspaper advertisement, $48 and $50 that was principal, interest, taxes and insurance all together, a jaw dropping sub 8k for a Miami area home, not just Florida, but pricier Miami. I mean, can you imagine a Florida couple's home buying conversation in the mid 1950s there at Florida, honey, you're crazy if you think we're going to pay an extra $2 per month for a third bedroom. I mean, this is just astonishing. And yeah, my apologies for leaving you flabbergasted so many times in one episode. Gosh. Now to be sure, wages were lower back then, but back then, only one parent had to work. They still managed to buy homes, raise a family, and even pay for a milkman who actually delivered the milk. And now, you know, if we fast forward to the future, future generations, they're going to marvel at today's incredibly low median home price of 400 to 450k Yes, therefore you will be the one doing the flabbergasting, and you'll leave people From 2070 feeling abjectly flabbergasted when the median home price is $4 million then, I mean, it realistically could be, it could be more than that. It's the same way that today we're astonished at 1960s McDonald's menus where a burger was 15 cents. Yes, 15 cents is seriously how much McDonald's hamburger cost in the 60s. And of course, this is when restaurants also serve real meat and french fries cooked in tallow rather than seed oils, and shakes had real cream in them. That's all evidence of simultaneous skimpflation. But getting back to the monetary inflation, you know, as recently as 2011 we can even feel dazed and amazed about how the median home price, then was just $211,100 Yes, as recently as 2011 you're surely dazed and stupefied here, one thing I know, though, is that this did not leave you slack jawed, because Between you and I, we know there's only one slack job between us, and we know full well that that's not you. The bottom line, the bottom line here is that zooming out over time reveals a clear, uncomfortable truth. Savers get roasted, borrowers get rich. This is just a new way of looking at it.    And if you're a newer listener and you don't get our newsletter yet, it is free, full of value, and I write every word myself. There are more AI generated newsletters out there. That is not what this is. This is me to you, and to get the newsletter right now. Text. GRE to66866, 66866, we don't send you a bunch of texts that would be intrusive. It's an email newsletter. You can get it by texting GRE to 66866   Now, earlier this year, I talked with you about how home sales have crashed. When people read a media headline like that, home sales crash. You know, some people think that home prices are falling, but that's not. What that means is, you know, it means that the quantity of sales has fallen a lower transaction volume. With that in mind, to help you out in the future, when you're reading. For real estate and economic headlines, I jotted down a few fictitious headlines here, but yet they're the same type that you've seen before, and you'll see these again in the future, and they can be misleading. So let's straighten this out. Okay, here's the first fictitious yet realistic sounding headline, what people often think it means and what it really means. Developer uses tax loophole to deliver 200 unit apartment complex All right. Now, some people read that and they think that the developer is doing something nefarious or underhanded. No. Sometimes reporters use this word loopholes to describe legally created incentives to get much needed housing built. Reporters are often doing yeoman's work on behalf of NIMBYs. If this thing is producing more housing, then we need more loopholes, which are really incentives just like it. Here's another misleading headline. Now, almost all of the 50 states have a lower level of housing inventory than they did pre pandemic, but this headline says, Tennessee housing supply 4% more than pre pandemic levels. All right, some might see that headline and think, Oh, I guess that housing is a little oversupplied. Now, no, not necessarily, because most states had a scarce supply of inventory even before the pandemic hit back in 2020 the next headline is existing home sales fell off a cliff. All right, Did you note that this only includes existing homes, meaning resale homes, because, again, the headline is existing home sales fell off a cliff. So this doesn't include new builds. And there's nothing inherently falsified about some of these headlines. They just get misinterpreted. Softwood lumber prices hit all time record high. Okay, well, with persistent inflation, this might not be reason for alarm. Is it even an inflation adjusted high or not? Here's a headline, California leads the nation in out migration. All right, some people see this and assume that the California population is dropping. Well, maybe, maybe not. Again, the headline was, California leads the nation in out migration? Well, raw numbers aren't per capita. Cali is the largest state by population at almost 40 million. And also, if their in migration exceeds this out migration, well then they had positive net migration. And all of this doesn't even count births or deaths. You'd have to factor that in as well. The next headline is foreclosures Spike 50% year over year. Ooh, that sounds bad. And although this is a fake headline, just like the other ones that I'm telling you about, a phenomenon like this did recently occur, actually, but it's still at a really low level. It just rose from an extremely low level, two tenths of 1% up to three tenths of 1% that's a 50% gain. Here's a headline. You might see mortgage rates have dropped 2% this year. Maybe you'll see that in the future. Most people read something like this, and they assume that real estate values will resultantly soar. Well, maybe, maybe not. It sounds like homes are more affordable, and they would be, but the Fed might be cutting rates because the economy needs the help. It could mean we're in a recession. So if wages are down, even if mortgage rates are down, it might not actually be less affordable. The next fictitious headline is Philadelphia new build home prices surge 8% Oh, you're thinking that's got to be good, right? Well, I don't know what if new build Philly homes are constructed with 10% more square footage this year, but the price is only up 8% so they're actually selling at a lower cost per square foot. And this is also why existing home price change is more meaningful. The next fictitious headline is unemployment claims jump 30% in a week. All right? Well, this usually doesn't mean that there are mass layoffs and some economic Armageddon. If initial jobless claims rise from 200 up to 260k that's a 30% jump, but it's still low relative to recession levels, which are typically 400k plus and the last fictitious headline, Warren Buffett, b, u, F, F, E, T, invests $10 billion in apartment REITs. Oh, well, Buffett was spelled with only 1t Buffett should be spelled with a double T. Have you ever noticed that it is the most frequently misspelled name in financial media that's all for the headlines, so having the wherewithal about these sorts of things can help you better interpret what's happening in Real Estate's Future and the economy's future.    One of the most inexpensive national markets, I'll say, outside the Midwest, where you can own income property, where the numbers really make sense. An investor advantage place is in the state of Oklahoma. Some of these Oklahoma properties that we've begun dealing with here, they're pretty small. Like check out this single family rental I want to tell you about that's just 864 square feet. You know, more tenants desire this type of housing. Family sizes are smaller today, yet they want separation in the privacy of a single family home. And this one is brand new build, two beds, two baths, and the price is, get this $155,000 for new build. Yes, you heard that, right, and the projected rent is really strong. $1,250 I mean, this sort of cottage sized new build home is the type of product that can make the best rental, because if it were double the size, you might only get 50 or 60% more in rent. Now there's no garage on this new build 155k property, and you get all the finishes that you would expect from new construction. The second Oklahoma property to tell you about is this Tulsa duplex. This one really stands out. And Tulsa has over a million people in the metro. It was built just several months ago, $2,900 rent on a purchase price of about 360k and these ones, they've consistently appraised in the 375 to 380k range. So you could very well get some built in equity here with this duplex, where the numbers work pretty well as it is, each side of this new duplex has over 1300 square feet, three beds, two baths on each side, free management the first year, $3,000 cash to you post closing, all the nice finishes you'd expect with new build in this Tulsa duplex. So these two properties I've discussed here are really investor advantaged all new build. And that 155k single family rental was in Chickasaw, Oklahoma. And then the Tulsa duplex in the mid to high three hundreds. The next one is the last one. I'll mention. It's not as good of a deal, but it does look nicer because it's a brick faced new build single family rental for 320k in Lawton, Oklahoma. Lawton is more southwestern Oklahoma, with $2,400 rent, and it's 1800 square feet in this new build and just a little positive cash flow. The property tax rate is 1.1% property insurance is just 1250, a two car garage, all the types of finishes that you would expect with new build. So a property like this is if you're looking for a better quality tenant. Oklahoma City has had more happening than usual. You might have heard that the tallest building in the United States is planned to be built in Oklahoma City, yes, taller than anything in New York or Chicago. The Oklahoma City Thunder NBA team has been performing well. You know, those things are merely interesting and have almost nothing to do with the investor advantage. Rental properties, again, all three that I mentioned, there are new build. Not only are we in this persistent national housing shortage, but these entry level homes that make the best rentals, they're the ones that are in even shorter supply. That's a fact I probably don't mention to you often enough. The home ownership rate is down because of strained affordability, so you may very well have a long term tenant in these properties, and then you layer on the fact that they're new build, and it really looks promising for tenants wanting to stay for the long term. Check out the market and the provider. Learn more at either gre marketplace.com/oklahomcity or slash Tulsa. Yes, new build Oklahoma properties, if you're not sure about the exact address, that's going to provide you with the highest returns, our free investment coaching can help you with that as well borrow dollars with long term fixed interest rate debt that both tenants and inflation just relentlessly pay down for you while your expected price appreciation. Can leverage dollars at the same time. Start at gre marketplace.com/oklahoma, city or slash Tulsa until next week. I'm Keith Weinhold. Don't quit your Daydream.   Speaker 2  44:52   Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional. Additional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  45:16   You know, whenever you want the best written real estate and finance info, Oh, geez. Today's experience limits your free articles access, and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind. Take a moment to do it right now. Text, gre 266, 866,   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

In this conversation, Alicia Britt Chole shares her journey from atheism to faith, highlighting the pivotal role of unlikely friendships and mentorship in her spiritual transformation. She discusses the importance of community, the challenges leaders face, and the significance of recognizing the shadows in leadership. Alicia emphasizes the value of presence in faith, the lessons learned during night seasons, and the nature of hope and despair in the spiritual journey. Her insights encourage listeners to embrace the complexities of faith and the transformative power of God's presence.Mike's Biggest Takeaway's Alicia wanted to be a lawyer and later a Secretary of State.She chose atheism at a young age due to unanswered questions.Unlikely friendships played a crucial role in her coming to faith.Authenticity and sincerity in relationships can inspire faith.The presence of God can be felt even in broken places.Leaders often neglect their inner health while focusing on external success.Satan's goal is to create distance between individuals and God.Faith is a duet, not a solo journey.The night seasons of life are normal and can be mentors.Despair often stems from misplaced hope.Welcome to the Linch with a Leader Podcast, where you're invited to join the spiritual principles behind big success, with host Mike Linch.Subscribe to the channel so you never miss an episode: Watch: @linchwithaleader Prefer just listening? SUBSCRIBE to the podcast here:Spotify: https://open.spotify.com/show/0dJfeLbikJlKlBqAx6mDYW?si=6ffed84956cb4848Apple: https://podcasts.apple.com/us/podcast/linch-with-a-leader/id1279929826Find show notes and more information at: www.mikelinch.comFollow for EVERYDAY leadership content and interaction:Follow on X: https://x.com/mikelinch?s=20Follow on Instagram: https://www.instagram.com/mikelinch?utm_source=ig_web_button_share_sheet&igsh=ZDNlZDc0MzIxNw==https://www.instagram.com/mikelinch/?...JOIN Mike for a Sunday at NorthStar Church:www.northstarchurch.org Watch: @nsckennesaw#christianleadership #faithanddoubt #spiritualformation

Ever feel like you're constantly busy but not making real progress toward what matters most?  That's the frustration horizon planning solves.  Your time is the only truly finite resource you have, 24 hours a day that, once spent, you never get it back. While the demands and options competing for your time multiply endlessly.  Without a clear framework connecting your daily actions to your life's purpose, even the most productive days can leave you feeling empty.Introducing Horizon Planning Methodology.  Horizon planning creates that vital connection, working from your highest vision down to your daily calendar. Based on David Allen's Getting Things Done methodology but simplified for practical application, this system starts with your "North Star", identifying your purpose, principles, and the person you aspire to become. From there, it cascades through progressively shorter timeframes: your 3-5 year vision, 1-2 year goals, short-term projects, and finally, your daily actions.  The magic happens when these levels align.  Decision-making becomes faster and less stressful. Saying yes or no to opportunities feels clear rather than guilt-inducing. Most importantly, your limited time builds toward something meaningful instead of evaporating on endless urgent-but-unimportant tasks.  Ready to eliminate overwhelm and create more impact with your limited time?  Download our free horizon planning worksheet HERE and schedule your first planning session. Your future self, looking back on a life of purpose and meaningful achievement, will thank you.    Text Me Your Thoughts and IdeasSupport the show Brought to you by Angela Shurina EXECUTIVE & OPTIMAL PERFORMANCE COACH

Sellers continues our Summer School series by taking a closer look at the story of Jesus feeding the 5000.

The mics pop like champagne as we usher Miami OG Lea Black back for part 2 in Dallas. What follows is a glitter cannon of gossip, gratitude, and girdle-tight life lessons—all in under an hour. Glitter vs. Grit Lea opens her designer diary: she once slid to the side so “drop-dead gorgeous” Joanna Krupa could shine, and even loaned baubles to castmates “starring in rented houses and leased Jaguars.” She applauds Bethenny Frankel's rag-to-Skinnygirl rise while roasting fame junkies who'll chase a camera “to the opening of an envelope.” Hollywood Stories & Humble Queens Grab your autograph book. Lea bumps into Faye Dunaway disguised in Juicy Couture, the boys accept a curbside first edition from Dyan Cannon, and Pol' watches Zoë Saldana crawl on the boutique floor to play with puppy SnowWhite90210. Patrik fires back: mistaking Courtney Love for a “homeless lady,” then auctioning Pamela Anderson's lap for $10 K at a gala. The moral, via icons Betty White and Anna Nicole Smith: class never goes out of style. Skincare Royalty & the Chump Army We chat about Lea Black Beauty serums, masks, and miracle oil and Pol' confesses he ditched Obagi for Lea Black Beauty. Cosmic Signs & Coffee Grounds Pol's 2nd half of Lea's Armenian coffee divination crowns Lea “queen of limitless lanes.” Two new ventures shimmer in the grinds: an affordable-housing empire for son RJ and a hush-hush jewelry play. The trio compare destiny detours—from a Phuket flight missed before the 2004 tsunami to pilots grounding planes on “feng-shui feelings.” Hot Topics & Runway Rundown Headlines fly: Gene Hackman's carbon-monoxide tragedy prompts a detector PSA. Jeff Bezos plans to rocket Lauren Sanchez, Gayle King, and Katy Perry into orbit—Lea yells “Prenup, please!”Fashion time: Pol' torches the RHOM reunion looks—Lisa Hochstein's iridescent foil (“Forever 21 clearance”), Larsa Pippen's emerald ruche, and Alexia's metallic mini—branding the set “Star-Wars prom.” By contrast, Greg Lotus's portrait of Lea in a bias-cut ivory gown is christened “Rich-Bitch Perfection.” Money, Morals & Mega-Billions Lea slams corporate layoff kings, privatized-FAA chaos, and royal PR spin. Her mantra: “Show me where you spend your money, time, and influence, and I'll show your values.” Love, Security & Limitless Hustle Coffee grounds confirm attorney/philanthropist Roy Black is Lea's steady North Star—“that box is forever checked.” With home secure, she juggles a dozen gigs and yearns for five more. Patrik crowns her the “Ozempic of people—one shot and your goals slim to what matters.” Lea's final words: “I feel naked—inside and out—but drape me in couture and 60 carats, darling!” This is another Hurrdat Media Production. Hurrdat Media is a podcast network and digital media production company based in Omaha, NE. Find more podcasts on the Hurrdat Media Network by going to HurrdatMedia.com or the Hurrdat Media YouTube channel! Subscribe to our audio: linktr.ee/undressedpod Follow Pol Atteu:  Instagram: @polatteu  Tiktok: @polatteu  Twitter: @polatteu  www.polatteu.com Follow Patrik Simpson:  Instagram: @patriksimpson  Tiktok: @patriksimpsonbh www.patriksimpson.com Follow SnowWhite90210: Instagram: @snowwhite90210 Twitter: @SnowWhite9010 www.snowwhite90210.com Watch Gown and Out In Beverly Hills on Prime Video.  www.gownandoutinbeverlyhills.com #UndressedPodcast  Armenian Coffee Reading: https://polatteu.com/armenian-coffee-cup-read Learn more about your ad choices. Visit megaphone.fm/adchoices

Author and financial expert, Chris Whelan, joins Keith as they explore the intricacies of the housing market's potential future. Chris drops an intriguing prediction of a possible 20% price correction. They dive deep into the complex world of real estate, examining the pandemic's significant impact on mortgages and economic trends. The conversation reveals the behind-the-scenes challenges of the housing market, from government interventions to the nuanced effects of interest rates and forbearance programs. They unpack the struggles in commercial real estate, particularly highlighting the unique challenges in markets like New York's rent-controlled properties. Chris's new book "Inflated: Money, Debt, and the American Dream" promises an insightful journey through America's economic transformation, tracing how the nation evolved from an agrarian society to a global economic powerhouse. Show Notes: GetRichEducation.com/556 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  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”  For advertising inquiries, visit: GetRichEducation.com/ad 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 Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the state of the housing market for the next five years, and could what's happening in the foreclosure market affect it? I see relative housing market price stability. My guest sees cracks. This could be somewhat of a debate today, then two great new cash flow and real estate markets in the same state that we're helping your portfolio with on get rich education, mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter, remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com.   Corey Coates  1:56   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:12   Welcome to GRE from Edison, New Jersey to Edinburgh, Scotland, where I am today, and across 188 nations worldwide, I'm Keith Weinhold, and you are back for another wealth building week on get rich education. Today's guest came to me recommended. It came from a guest that we've had on the show here before, Jim Rickards and his daughter Ally Rickards. His name is Christopher Whelan. He has a distinguished background. Comes from a prominent family, and he's the author of a new book that just published a few weeks ago. His father, Richard Whelan, was the biographer of Joe Kennedy, and was advisor to presidents and Fed chairman and today's guest, his son there, Chris. He has done a lot of work in DC. He lives just north of New York City today. So I guess coming recommended from Jim Rickards and learning a few things about today's guest helped me want to host him on the show. So though I'm just meeting him for the first time right here on the show, as it turns out, I learned that he has mentioned on other channels that real estate prices could correct down 20% and fall back to 2020 levels. I absolutely don't see how that's possible in any way. I'm going to bring that up with him, so we'll see. This could turn into somewhat of a debate. Like I said last week, I believe that significantly falling housing prices. That's about as likely as grocery store prices falling back to 2020 levels. Yes, I am in Edinburgh, Scotland today. It's my first time here. My mom, dad and also my brother's entire family came over from the US to meet up. It's been great. We're taking in all the best sites, Edinburgh Castle, other castles, the Scottish Highlands, Loch Ness, though I don't believe in any Loch Ness monster at all. I mean, come on, what a hoax. And we're seeing some other sites, though it didn't really interest the others, which I could understand. I visited the home where Adam Smith once resided, and I might put my video about that on our get rich education YouTube channel, so you could check that out over there. Of course, Adam Smith is considered the father of modern day economics for his work on supply versus demand and the GDP concept, the invisible hand, concept, much of that work conveyed in his magnum opus, The Wealth of Nations, published in 1776 as for the present day, let's meet this week's guest, including me, meeting him for the first time.     I'd like to welcome in a first time guest. He's the author of a widely acclaimed new book. It's named inflated money, debt and the American dream. It just released, and the book couldn't be more timely with the multitude of challenges related to inflation, many involving the housing market in his earlier books, he's been known, frankly, for just telling his readers the truth. He's worked at the Federal Reserve Bank of New York in politics and as an investment banker for more than 30 years. Today, he runs Whalen Global Advisors. You've seen him on CNBC in the Wall Street Journal, and now you're hearing him on GRE Welcome to the show. Chris Whalen.   Chris Whalen  5:43   Thank you, Keith, appreciate your invitation.    Keith Weinhold  5:45   Whalen is spelled W, H, A, l, e, n, if you're listening in the audio only, Hey, Chris, we're in a really interesting time in the economic cycle. We all know the Fed has a dual mandate, high employment and stable prices. What's interesting to me is, late last year, they cut rates by a full 1% and this is despite inflation being above target. Makes me wonder if they care more about high employment and they're rather willing to let inflation float higher. What are your thoughts?    Chris Whalen  6:18   I think historically, that's been the case. You know, the dual mandate Humphrey Hawkins, that drives the Fed's actions today was a largely socialist compromise between the Republicans and the Democrats. The Democrats wanted to guarantee everybody a job after World War Two, the legislation was really about soldiers and people who had served their country in many, you know, places around the world, for a long time, and then you would have the depression. So you had a whole generation or more of people that were looking for help when they came home. And that's what this was. But today, you know, there's another mandate, which is called keeping the treasury bond market open. We saw it was during COVID in 2020 President Trump got up, declared that people didn't have to pay their rent or their mortgages, and then didn't do anything. There was no follow up. At the time, folks in mortgage industry kind of looked at each other funny for about 60 days and said, What's going to happen? Because they have to advance principal, interest, taxes and insurance to protect the house. The first rule in mortgage finances protect the asset. But it all worked because the Fed dropped interest rates to zero and we had a boom. We refinanced two thirds of every mortgage in the United States, and that cash flow allowed the finance forbearance for millions of Americans. Now the unfortunate part, of course, was home prices went up double digits for six years. So why we had no affordability today? So, you know, it helped, but it certainly didn't help in some ways,   Keith Weinhold  7:48   mortgage loan forbearance back in the COVID era about five years ago, where you could basically just skip your mortgage payment and then they increase the overall duration of your loan period.   Chris Whalen  8:00   That's right. So you know, your government market, your conforming market, were falling. They also had various schemes, state forbearance for non agency loans. Nobody thought at all about the multifamily sector and the developers that didn't get paid for two years. And we're feeling the impact of that. Of course, today, that's probably the biggest pain point in US economy today is commercial real estate and multi family real estate, and neither one of them involves a consumer. So it gets no attention at all. You read about it in the specialty press, but that's about it.    Keith Weinhold  8:34   And by talking about multi family not affecting the consumer, you're just talking about who's on the owner side there?   Chris Whalen  8:40   precisely if all of the consumers have problems, you'd hear about it, and you do, especially in some of the blue states. I live in New York, so we have some of the more aggressive rent stabilization, rent control laws in the country. And they go back to World War Two. They go back almost a century,   Keith Weinhold  8:58   right? It's those people in the one to four unit space in residential real estate investing that really got the help there.    Chris Whalen  9:06   Well, at least, you know, the world didn't end. Imagine if all of those people had gone to foreclosure. The industry wouldn't have done that. Of course, they would have thrown up their hands and cried for help. But the point is, they made it work. But the cost of making it work that zero interest rate regime that the Fed put in place is still being felt today. If you look at banks which typically have prime large mortgages on their books, the loss given default is zero. Home prices are so high that if somebody actually goes to foreclosure, they sell the house, they pay off the loan easily, and there's usually a large residual left, which would go to the homeowner. So today, you know, if somebody gets in trouble, we do a short sale, we do a deed in lieu, and off they go. And that's why the stats don't show you the pain that many American families are feeling today, because about 60% of all payoffs of one to four family mortgages are people who. Are exiting the market, they're not going to buy another house. So what that means is that the cost of home ownership, or whatever other factors are involved, has made them make the decision not to go to another home mortgage.    Keith Weinhold  10:13   Yes, we have this historically low affordability that's beginning to be reflected in the home ownership rate. It's trended down from about 66 to 65% recently, we continue to be in this environment here, Chris in the one to four unit space, where those existing homeowners are in really good shape. They have record high equity levels of over 300k A lot of them have their home paid off. About 40% of American homeowners own their home free and clear, and of the remainder, those borrowers, 82% still have a mortgage rate of under 5% and of course, that principal and interest payment stays fixed. So even if there's economic hardship, it's pretty easy for people to make their payments and stay in their homes.   Chris Whalen  11:02   Well, it certainly is for most of the marketplace. If you look at the bottom 20% the FHA market, also the VA market, there's a little more stress there. There's still an awful lot of people who are in various types of forbearance in that market. That's going to end in October. So the Trump administration is pushing most of the rules back to pre COVID approaches for delinquency, for example, what we call the waterfall. And what that basically means is that if an FHA borrower gets in trouble, they'll have one shot at a modification where they lower the loan cost and stick part of the loan out the back to be paid off when the house is sold. If that doesn't take, if they don't re perform, then they're going to go to a foreclosure. We just ended another program for veterans. You know, they had three weeks notice, so now you're going to see a lot of veterans going to foreclosure. Unfortunately.   Keith Weinhold  11:56   yes, this administration is basically making sure that people are responsible or resume their payments. We've seen that student loan repayments needing to resume as well. Most foreclosure rate types are still pretty low, but yes, FHA foreclosure rates are higher than those for conventional loans.    Chris Whalen  12:15   Yeah, the interesting thing is, the veterans delinquency rate is half of the FHA rate, and even though people in uniform don't make a lot of money, they pay their bills. Yeah, it's quite striking.   Keith Weinhold  12:25   Why don't you talk to us more about areas where you see distress in the housing market before we talk about more inflation? Chris, the   Chris Whalen  12:34   key areas of housing stress at the moment are commercial real estate that has become underutilized. COVID drove a lot of this, but also the fact that industries could change their work practices. It could have people work from home. Look at housing. We sent everybody home in 2020 while we increased headcount by a third to address a surge in lending volume. It was insane. I gotta tell you, we were hiring people that we didn't see for months that changed the business model assumptions for a lot of industries. A lot of them moved out of blue states and went down to Florida and Texas. In the mortgage industry particularly, and so we have a lot of older real estate particularly, that is suffering. It has dropped in terms of appraised values. You also have higher interest rates and higher cap rates, that is to say the assumption of returns on the part of investors. So that hurdle has made a lot of these properties impaired, essentially. And then the other subclass is older multifamily properties. Think about those beautiful old apartments in the middle block up on the east side or the west side of Manhattan. They're not big enough to be viable, and so they have become this kind of subprime asset class, much in the way if you recall the signature bank failure, they typically bank these sorts of real estate properties, and now there's nobody that wants them. I think you're going to see some very specific pain coming out of HUD, and also Fannie Mae and Freddie Mac because they bank some of these smaller properties that really aren't bankable by commercial banks. That's what it comes down to. If you're going to read about this and hear about it a lot in the commercial market over next several years. And again, you know, the losses on bank owned multifamily properties today are averaging 100% so that means that there are a lot that have more expenses than simply losing the full loan amount. And you know, if you want to have a bank loan, they're not taking these properties. They don't want them, right? So the bank, REO rate, if you look at the data from the FDIC, is zero. And what that tells you is that they can't sell the properties they don't want them, because if they take ownership, the city's not going to let them abandon the property. They'll have to keep it and maintain it. It's a tough situation. This is. Has evolved over the last 20 years or so, because consumer incomes have been kind of stagnant in real terms. But the cost of operating a property in New York City is not going down. It's going up quite a lot, and the legislation we've seen from Albany doesn't allow owners to recapture expenses, doesn't allow them to renovate apartments. So if I have a rent stabilized apartment, I'll use a real example, in a beautiful building on Central Park South right, to renovate a unit that's been occupied for 20 years, new kitchen, new bathroom, sir, everything services. That's $150,000 so if I'm the owner and I can't recapture that cost. What do I do? I lock the door, I gut the apartment, and I lock the door, and I hope that the laws will change in the future, because I can't rent it, my insurance underwriter will not allow me to rent out an apartment that's not brought up to code. That's New York law, but the folks in Albany don't care about that. We have some really unreasonable people in positions of authority, unfortunately, in some of these states, and you talk to them about these issues, and they don't care. They just pander to consumers, regardless of whether or not it makes sense or not. And that's just the way it is.   Keith Weinhold  16:15   Those evil landlords, quote, unquote, most right evil. They're just mom and pop investors that are trying to beat inflation with real assets, and they have real expenses. Rent Stabilization basically just being a genteel term for rent control, which gives no one an incentive to improve a property for sure   Chris Whalen  16:35   and it reduces the availability of housing ultimately, because nobody builds. You see that in New York right now the home market is pretty tight, up to the conforming limit for Fannie Mae and Freddie Mac so you figure a million, 1,000,002 here in New York. But above that, it's quieted down quite a lot. There's compression in some of the higher end homes. And you know, if you go down south, you see a different problem, which is over building. They didn't want to build here, so they went down to the Carolinas and Texas and Florida. There's a huge amount of both multi family condo type developments and single family homes too. But above that average price level way above half a million dollars.   Keith Weinhold  17:15   Sure, it's made this dynamic where things have been flip flopped in the Northeast and Midwest, where the populations aren't growing very fast, those markets have been appreciating more than those in the high growth southeast, all coming back to supply. They're not bringing on enough new supply in the Northeast and Midwest, Chris has just laid out a few reasons for that, due to this high regulation. And then in the southeast, a high growth area, even though that's where people are moving, we're not getting much appreciation there, because you're able to build and that supply is able to keep up with demand. Well, Chris and I are going to talk more about the housing market and about inflation. When we come back, you're listening to get rich education. Our guest is Chris Whelan, the author of a great new book. I'm your host. Keith Weinhold.   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   Kathy Fettke  19:45   this is the real wealth network's Kathy Fettke, and you are listening to the always valuable get rich education with Keith Weinhold.    Keith Weinhold  20:00   You welcome back to get rich education. We're talking with the author of a great new book, Chris Whelan, it's called inflated money, debt and the American dream. Chris, I see the residential housing market and their price points as being resilient. I'm kind of looking around and seeing if you have any places where you think that there are any cracks in that? I've heard you talk elsewhere about a housing price correction. Were you talking in the one to four unit space? And how do you think that could happen?   Chris Whalen  20:31   I didn't come up with that idea. I did a biography of my good friend Stan middleman, who's the founder of freedom mortgage. It's a real rags to riches story of a successful entrepreneur, a great guy, by the way, is a beloved man in the mortgage industry. And so what he believes is that cycles are about a decade in terms of human behavior. And he says misery on the eights, which is kind of a cute way of saying it. And what Stan is basically saying is you eventually see so much price appreciation that affordability goes to zero. You run out of buyers, is another way to put it. And then once the Fed gooses it, he thinks we see an interest rate decline this year next year, perhaps you get rates to run a little bit. You get volumes to jump the way they did last summer. You remember, in the third quarter, we had great volumes in the mortgage industry, carried everybody through to the end of the year, and then after that, he says, we get a price correction, maybe back down to 2020 21 levels. So we're talking about a 20% price correction, and we're talking about the loans that have been made in the last few years being underwater. That's something we haven't talked about in a long time. We haven't talked about that since 2008 so I think that Americans inevitably have to see some kind of a correction. What the Fed did was wrong, what they did was excessive. I write about that in the end of my book, but unfortunately, the result is home prices that have galloped along, and eventually you got to reset it. Part of its supply coming online. Part of it is simply, like, I say, you run out of buyers, and when it's simply that purchase buyer who is either all cash or happens to have the deposit, and that's all you have. And there's no flexibility for people that want to get into the market. You know, that's tough. I could recall Paul Volcker years ago, we were talking about that in the book too. He ratcheted down home prices. He raised interest rates so much that home prices went down, and a lot of builders went out of business who had had a lot of snls go out of business, and, you know, the previous decade. So that was a tough time. We didn't even start to do that this time around, because they were afraid to the Fed is worried about keeping the Treasury market open, so they are afraid of deflation, which unfortunately means you don't get those opportunities to get into the market. I remember my parents, when I was very young, they would buy busted homes in Washington, DC. It was a great way to make a lot of money, and in five years, the House would double. That's the kind of market Washington was   Keith Weinhold  23:05   in my opinion, I don't see how there could be any substantial residential home price correction. Historically that happens when there's a wide swath of homeowners that get into financial trouble, like I was talking about earlier, the homeowner is in great financial shape today. In fact, since World War Two, we've only seen home prices drop substantially during one period. That was that period around 2008 and that's when we had conditions that are opposite of what they are today. We had loans underwritten with liar loans. We had an over supply of homes, like I was saying earlier, inflation can't touch one's principal and interest payment. We're still under supplied with homes. Most experts don't think we'll get that into balance for at least five years. I really don't see how home prices could fall substantially. I also don't see how they could rise substantially, like, say, 10% due to that low affordability, but I expect continued stability in prices?    Chris Whalen  24:02   Well, we'll see. I'm not as sanguine about that, because a lot of people feel house rich on paper, but when the bottom of the stack is really hurting as it is now, FHA delinquency rates really are in probably the mid teens. You don't see that yet in the middle with the 727, 40 FICO type borrowers. But I think over time you could, and if, again, it depends on the economy and some other factors, but I'll tell you right now, you're already seeing a correction in the hyad the bottom half, no. And there's a supply problem here, which I agree with you on. It's going to keep those home price is pretty firm. And even where I am in New York, for God's sake, Keith, there's no construction here. So we just had a house across the street from me go from million one. I live in Sleepy, hollow New York, and you know, this is typically around the conforming limit for prices for most of these homes, and it went for 150 $1,000 over the ask, it was crazy. Went in two weeks now, during COVID, we saw this sort of behavior, and we thought, Well, okay, you had zero interest rates. I got a 3% mortgage, by the way, awesome. But here we have a situation when markets cooled down a lot, and yet the lack of availability is really the driver. So in that sense, I agree with you, but I do think the high end could correct rather substantially.   Keith Weinhold  25:24    And of course, in multi family apartments, that's different. That's where values in a lot of markets have been depressed by more than 30% they were subject to those interest rates being jacked up, and we're still going to see balloon loans mature and people default on those in apartments. The pain is not over with air, but at some point that's going to bottom out, and that'll be a buyer opportunity in apartments.   Chris Whalen  25:47    Well, the thing is, new stuff is going fine. It's what happens is when the new gets built, the older assets down the road get discounted. That's really what's going on. People love new as you know, these kids love a new house, as opposed to an older house.   Keith Weinhold  26:02   Yes, that'll help reset the prices in the new market when you can compare those to what existing values are. Well, Chris, talk to us more about your new book and what the overall thesis of the book is in these critical times.    Chris Whalen  26:16   Inflated is meant to help people understand how our country went from agrarian, sleepy, isolationist America in the 1900s to being the dominant economy in the world and the provider of global money. We talk about how we got here. We talk about Abraham Lincoln and Franklin Roosevelt and many other characters. Obviously, we had to talk about Andrew Jackson, who is now embodied in our president, Donald Trump. We try and frame how this is all going to evolve in the future. And my thesis is basically the global currency role is something you get during or after a war. We took the baton from Great Britain after the First World War, and then by the end of World War Two, everybody in the world was broke, except for us. It was last man standing. And so rebuilt the world. We let everybody take advantage of us, and now President, who's saying, Nope, we got to change this. I think if it wasn't Trump, it would be somebody else. To be honest with you, Americans are tired of high inflation. They're tired of some of the other costs that come along with being the global reserve currency, so we try and frame all of this in an understandable way. And I particularly talk about housing during COVID and how that all really, I think, changed things for many Americans. Home ownership has been one of the basic ways we create wealth in this country, and the fact that we didn't have an opportunity for people to get in cheap with a fixer upper or a house that was foreclosed. You know, I think it's unfortunate, but the system just can't tolerate it. We've gone in 2008 and then in 2020 through two very significant crises when the government bond market stopped working. So we talk about that as well.   Keith Weinhold  28:03   I don't predict interest rates. I think it is really difficult to do you mentioned earlier about the prospect for lower interest rates coming. Everyone wants to know about coming. What's your outlook for the future of interest rates and inflation for just say the next five years? Chris,    Chris Whalen  28:19   I think interest rates will drop. That is to say what the Fed controls, which is short term interest rates. In the next year or so, we'll have a little bit of a boom as a result. But I think the concern about the federal deficit and US debt, the volatility caused by President Trump's trade strategy, and just general I think a sense of uncertainty among investors is going to keep long term interest rates higher than we saw during COVID And really the whole period since 2008 the Fed bought a lot of duration and took it out of the market, so they kept rates low. They're not going to do that as much in the future. I don't think they'll buy mortgage securities again, they are very chastened by that experience. So if they don't buy mortgage backed securities, and if the banks don't become more aggressive buyers, and I don't think they will, then you know, the marginal demand that would drive mortgage rates down is just not going to be there. Banks have been holding fewer and fewer mortgages and mortgage backed securities on their books for 35 years. If you look at the growth in the industry, the dollar amount of one to four family mortgages hasn't changed very much. So when you look at it that way, it's like, you know what's wrong? Two things. They want to only make mortgages to affluent households. They want to avoid headline risk and litigation and fines and all of that. And I think also, too some of the Basel capital rules for banks discourage them from holding mortgages and mortgage servicing rights, which is an area I work in quite a lot.   Keith Weinhold  29:55   It seems to me, like increasingly, the powers. It be the United States government just won't let the homeowner fail. They want to do so much to promote home ownership over the long term, we see relative ease with getting a mortgage. We've seen lower down payment requirements during other times, including COVID. We see the government jump in with things like mortgage loan forbearance and an eviction moratorium for renters. They just don't want to let people lose their homes. It just seems like there's more propensity to give homeowners a greater safety net than ever. Well,   Chris Whalen  30:29   we've turned it into an entitlement. Yeah, and Trump is changing that at the federal level. The states, the blue states, are going to continue to play that game at the state level, and they can even have state moratoria. But what's going to happen, and I think sooner rather than later, is you may see the federal agencies start to tier the states in terms of servicing fees, simply to reflect the cost. It takes over 1400 days to do a foreclosure in New York. Gosh, that is a big problem. You can lose the lien in New York now, it takes so long. So I think that, you know, from an investor perspective, from a developer perspective, it's not an attractive venue. That's just the reality. Then you even California is as progressive and as activists as it is, you can still get a foreclosure done very quickly using the trustees. It's just a totally different situation. If there are complications, you can get into a judicial foreclosure, which will take longer. But still, California works. New York is deliberately dysfunctional. We have people in the state legislature who are in foreclosure themselves, and they keep passing these laws. So, you know, I think at the federal level, you're going to see it roll back to pre COVID, but I will say that forbearance, both with respect to the agency and conventional market and private loans, is kind of the rule. Now we work with the borrower much more than we would in the past. It's it is really night and day.   Keith Weinhold  32:00   Chris, your new book has gotten a lot of acclaim. Let us know anything else that we should know about this book, and then if we can get it in all the usual places   Chris Whalen  32:10   you can buy it at Barnes and Noble Amazon. I have a page on my website, RC, waylon.com, with all the relevant links. But the online is the best way to get it. Most of the sales are on Kindle anyway, but well over 90% are online, so we don't have to worry about physical books. I think we'll be doing some book signings in the New York area. So we'll definitely let you know about that.   Keith Weinhold  32:33   One last thought is that the rate of inflation means more to a real estate investor than it does to a layperson, maybe five times as much or more, because when we borrow for an income property, our asset floats up with inflation. That part's really just a hedge on inflation. Our debt gets debased by inflation, which is really a mechanism for profiting from inflation over time. And then, thirdly, our cash flow tends to go up even faster than the rate of inflation, since our principal and interest stays fixed, so real estate investors can often be the beneficiary of inflation. It's sort of strange to go root for a force like inflation that can impoverish so many people. But what are your thoughts with respect to real estate investors and inflation?   Chris Whalen  33:19   Well, you know, it's funny when Jerome Powell at the Fed says that they have a 2% inflation target, my response is, well, we better have at least 2% inflation if we're going to make commercial real estate work. Commercial real estate went up for 75 years after World War Two. I can remember when I was in the rating business at Crowell bond ratings going to see some of the banks here in New York, their multifamily books had only seen the equity underneath the asset go up and up and up. In other words, the land ended up being 90% of the value, you know, 1520, years after the purchase and the improvements were almost worthless simply because the land appreciated so much. Now that has changed since COVID. A lot of commercial real estate, particularly has gotten under a bit of a cloud. You've seen falling prices. However, in parts of the country that are growing where you have a positive political environment, positive economic environment, you're still seeing fantastic growth in both commercial and multifamily markets. So I think being very careful and patient in doing your homework in terms of picking venues is more important now than ever before. You know, I'll give you an example. Down in Florida, we're building new malls every day. The mall down the road that's 15 years old. There's nothing wrong with it, but it's 15 years old. And so the price discounts that you're seeing for existing assets are rather striking. Same thing down in the Carolinas, down in, you know, Atlanta, and going down to the Texas growth spectacle, I'm always astounded by what's going on in Texas. They built so much in that whole area around South Lake, out by the airport. It, they're going to basically subsume used it. So, you know, in those markets, you have great opportunities, but you also have over building. And so we're going to see some cycles where they're going to be deals out there for projects that maybe were a little too ambitious have to get restructured, and astute investors can come in and do very well on that   Keith Weinhold  35:20   like we often say around here, in real estate investing, the market is typically even more important than the property itself. The name of Chris's new book, again, is inflated money, debt and the American dream. It has an awful lot of intersections with real estate investors and how they can play inflation. Uh, Chris has been a terrific conversation about the real estate market and larger market forces. It's been great having you here on the show.   Chris Whalen  35:47   Thank you, Keith. Let's do it again.   Keith Weinhold  35:49   Yeah, some good insights from Chris, a smart guy. And gosh, what a really sad state for rent stabilized apartments in New York City, where landlords of some of those properties, they would have to spend sometimes hundreds of 1000s of dollars in order to bring them up to code, but then they couldn't charge enough rent to offset those expenses due to government intervention and price fixing, so landlords just lock up the property vacant. And this sort of harkens back to when we were talking about some of this last year, when we had documentary film maker jen siderova on the show with her film called shopification, and it was about how rent control slowly makes neighborhoods fall into disrepair. All right, Chris and I had some difference of opinion there on the prospects for a home price correction. I think I made most of my points. He did, though, talk about running out of home buyers. If I have him back, maybe I'll pick up right there. More buyers are baked into the demographics, like I think I shared with you one time the US had its highest ever birth rate years between 1990 and 2010 more than 4 million births per year for a lot of those years. Just to review this with you, you might remember that 2007 was the US is peak birth year. Add 38 years to that for the average first time homebuyer age, and that housing demand won't even peak until 2045 and it will continue to stay high for a few years after that. So that's where the demand is just going to keep coming from, just piling on. And when I say that loan conditions have eased for American homeowners, like I did there during the interview, of course, what I'm talking about is the long term. I mean, lending conditions got more rigid after 2008 and with the adoption of Dodd Frank. What I'm talking about is, before the Great Depression, it was most common to have to make 50% to 60% down payments on property, and you had to repay the entire note in five to 10 years. I mean, can you imagine how that would hurt affordability today and then later, by 1950, 15, year loans were the common one. I mean, even that would impair affordability today. Today, 30 year loans are the common one, and you can put as little as 3% down on a primary residence. A lot of people don't know that either. It does not take 20% on a primary residence. So that's what I mean about the relative ease of credit flow today. Now, Chris has knowledge about other parts of the real estate market that I don't for his work inside DC and in other places like the foreclosure market. We talked about some of that right after the interview. For example, He was letting acronyms like NPL roll off his tongue, and I had to ask him what that meant. That's a non performing loan. Check out Chris's new book. Again, it's called inflated money debt in the American dream. And again, his website is RCwhalen.com and Chris also has a great sense of history, which we didn't get into, longtime real estate guys radio show co host Russell gray and I will discuss monetary history here on the show soon. Like I said, I'm coming to you from Edinburgh, Scotland this week, even if you don't see great sites, you know, it's interesting just walking the historic streets here, if you're an American that's visited here before, you surely know what I mean. And I told you that I'd let you know, the current real estate transaction I'm involved in is paying $650 a night for the hotel here in Edinburgh. Yes, that's a lot. I've actually paid less for fancier places in Dubai, but this hotel here is on the Royal Mile. Of course, I could have found less expensive accommodations elsewhere.    Speaking of less expensive, here's an announcement. And we have new investment property providers at GRE marketplace, two of them, the markets are both in Oklahoma, and they are Oklahoma City and Tulsa, Oklahoma as a state, is known for landlord friendly eviction processes and legal systems, kind of the opposite of New York. So this makes your property management more predictable. Now, when we look at this city, OKC has the lowest priced new single family rentals. I can think of it under 160k Yes, that really puts the exclamation point on inexpensive and favorable rent to price ratios often exceeding 1% which is obviously attractive for cash flow, meaning a 150k single family rental could yield over $1,500 in rent. There's high rental demand in certain sub markets. We have scouted out those exact places for you in the OKC metro, like Edmond Moore spelled M, O, O, R, E, and Midwest City, all supporting consistent rent income, though it was once really oil dependent, OKC has diversified economically, reducing your risk tied to commodity cycles and ok sees local economy that's supported by industries including aerospace, energy, health care and logistics. Then there's Tulsa. Tulsa has the highest cash flowing new build duplexes, perhaps anywhere in the US that I know about. On the single family rental side, a lot of Tulsa investors can find properties under 150k with monthly rents again exceeding 1% of the purchase price, clearly ideal. So yes, both Oklahoma City and Tulsa are now on GRE marketplace. You can either visit the pages and see them there, or one of our qualified, experienced GRE investment coaches. Meet with them. They can help guide you to the very best deals and show you the specific property addresses available right at this time for whatever best meets your needs. If you're looking to either start or expand to another market and you seek cash flow, you really need to consider Oklahoma. Yes, it is free to have a strategy session with an investment coach, whether that's for Oklahoma or other investor advantage regions. I often like to leave you with something actionable. You can start at GREinvestment coach.com start book a meeting for a free strategy session remotely. That's at GREinvestment coach.com, until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Dolf Deroos  42:51   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. Advice, opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  43:14   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you'll also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre to 66866. While it's on your mind, take a moment to do it right now. Text, gre to 66866.   The preceding program was brought to you by your home for wealth, building, getricheducation.com.