August market stats for the Greater Greenville area are in, and what we see is a stable but slowing market. Prices are staying in range with 2022 levels and the percentage of list price received is still elevated over "normal" levels, but inventory is climbing, days on market are back into the 40s, and there is plenty of anecdotal evidence that the market is slowing down quite a bit. Real estate is inherently seasonal, so how much of the shifting market can be explained by seasonality, and how much more shifting can we expect with mortgage rates at their highest levels in decades? There's a lot to discuss as we dig into the data. As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at (864) 735-7580 or by email at email@example.com.
Tijuana has long been a refuge for priced-out Californians looking for affordable housing. But now, rents in Tijuana are rising twice as fast as in San Diego. Reporter: Gustavo Solis, KPBS A federal judge in San Francisco is ordering two former Trump administration officials to testify in a lawsuit, brought by migrant parents and children separated at the U.S.-Mexico border in 2018. Reporter: Tyche Hendricks, KQED
It's been a volatile year for natural gas. Last winter, global gas prices spiked in the aftermath of Russia's invasion of Ukraine and European nations rushed to replace sanctioned Russian pipeline supply. North America increased LNG exports with most of these volumes going to Europe to meet higher demand for seaborne cargoes. Prices have since normalized thanks to a relatively mild winter, helping the spot demand recovery in Asia. But now, as cold weather returns, European and North Asian demand, and global gas supplies are once again in the spotlight. On today's show, Dana speaks to Iryna Sereda, BNEF's Head of European Gas, and Abhishek Rohatgi, the Head of Global LNG and APAC Gas, about their newly published Winter Gas Outlook. Together they discuss European gas inventories, Asian markets, where new supply is coming online, and how demand dynamics are shifting around the world. They also talk about how climate events from El Niño to global warming are complicating gas market forecasts and why they remain cautiously optimistic for the year ahead. Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Global LNG Winter Gas Outlook 2023-24 - https://about.bnef.com/blog/global-lng-winter-outlook-2023-24/See omnystudio.com/listener for privacy information.
Steve, McNew, Kathy, Joe, Evan and Tim discuss the rising prices of LE releases from the heritage brands. TBD music is by Kevin MacLeod (incompetech.com). Important Links: Patreon: https://www.patreon.com/theabvnetwork Check us out at: abvnetwork.com. Join the revolution by adding #ABVNetworkCrew to your profile on social media.
On the weekend, a friend of the pod was sitting in a pub owned by Britain's biggest pub company, Stonegate Group. If you have ever drunk in a pub in the UK there is a good chance it may have been Stonegate Group - their brands include Yates's, Be at one, and the Slug & Lettuce, they have over 800 venues. Recently, they've introduced a ‘dynamic pricing' policy across all their locations. Think of it like ‘surge pricing', it basically means the cost of drinking will go up at popular times. It's pretty straight forward, the surge pricing system will kick in when the pubs are at their busiest hours and could see drinks prices going up by 20 pence which is roughly 35 cent. Prices will return to normal at less popular times. Today Simon and Sascha look at the new adopters of dynamic pricing, and ask - will we ever pay the same again? Want more Equity Mates? Click here. In the spirit of reconciliation, Equity Mates Media and the hosts of The Dive acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. *****This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.The Dive is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.
On tap this week: How much is a 1-liter stein of beer at Munich's Oktoberfest?, The crazy drunk beer invades Disney World, Disneyland sell alcoholic drinks in more locations, A GoFundMe is set up to save Anchor Brewing, The perfect "Beer Can Pass,” Brewdog trolls Athletic Brewing, Heineken pulls out of Russia and takes a huge hit, Donald Trump mug shot is now on beer cans. All this and sooooo much more presented by Cask Branding. Enjoy the show, Cheers!
Recording date: 25th September 2023The latest in the world of Nickel with Mark Selby, CEO of Canada Nickel. Nickel prices have dropped below $20,000/tonne recently, which has been predicted for months. Prices are expected to bottom out around $17,500-18,000/tonne over the next 2-3 months before starting to recover in early 2023. The recent price drop is seen as positive to "shake out" bears and set a new base before rising again on increased EV demand. Prices could return to $20,000/tonne levels by spring 2023. Despite economic uncertainty, strategic players like BHP and Wyloo are still aggressively trying to secure future nickel supply by acquiring deposits. Mining companies are expected to become more interested in battery metals once EV demand growth is more established. FPX Nickel signed an MOU with Toyota on potential mine development and downstream supply chain involvement, underscoring Toyota's desire to secure future nickel supply. Giga Metals released a PFS showing an 11% IRR on their Canadian nickel-cobalt project, aided by Canadian tax credits. The multi-decade mine life provides options if nickel demand rises more than expected. Canada Nickel is close to releasing a feasibility study that will double initial production plans, aiming to be among the world's largest nickel mines. They expect significant recovery improvements in nickel, iron, and chrome. Selby explains how nickel sulfates will likely trade at a discount to metal prices long-term, similar to what has happened with cobalt sulfates. Maximizing value involves delivering a product close to LME pricing. There is a long-term upside for nickel versus cobalt pricing, given the greater relative demand growth for nickel in EVs. New capacity could push cobalt prices quite low. Officials are meeting UK and French officials about critical minerals supply from Canada, as governments are keen to secure "safe supply" from jurisdictions like Canada.—Learn more: https://cruxinvestor.com
Jason and Neil Bawa discuss the state of the multifamily real estate market. Prices in the sector reached unsustainable levels, resulting in a 25% decline since the peak in early 2022. Neil outlines two scenarios for the future: one where the Federal Reserve cuts rates, leading to stabilization through rate caps and refinancing, and another where rates remain high, causing distress. In either scenario, the market is expected to recover by the first quarter of 2025, with investors and banks facing losses totaling around $50 billion in a trillion-dollar market. #RealEstate #Multifamily #MarketAnalysis #MarketTrends Key Takeaways: 1:22 The issues when investing in 17 metropolitan areas 4:13 Multifamily and the worse segment of commercial investing right now 8:49 "Survive till 25" and Bridge Loans and the "Jesus can't save you" category 16:21 Average price and unit count of multifamily properties and entry level housing 23:46 Bank collapse and the fear porn chart 30:58 Life insurance and pension plans Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
Discover why 80% of Americans think it is a bad time to buy a home. Is it just high interest rates, or is there another reason? Are you investing well for financial freedom...or not? Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest, makes a huge difference to your financial future and lifestyle. If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 2% or 10% on your money over 30 years, is the difference between it growing to $181,136 or $1,744,940, an increase of over $1.5 million dollars. Your compounding rate, and how well you invest, matters! INTERESTED IN THE BE WEALTHY & SMART VIP EXPERIENCE? -Asset allocation model with stock and crypto ticker symbols and percentages to invest -Monthly VIP investing webinars with Linda -Private VIP Facebook group with daily interaction with Linda -Weekly VIP stock market & crypto update emails -Lifetime access with no additional cost -US and foreign investors, no minimum $ amount required Extending the special offer, enjoy a 50% savings on the VIP Experience by using promo code "SAVE50" at checkout. Pay once and enjoy lifetime access without any additional cost. Click here to enter code and save 50%. Or have a complimentary consultation with Linda to answer your questions by requesting a free appointment to talk with Linda. WANT TO BUY STOCK PRE-IPO? #Ad The barriers have been removed for private equity and it is now available to everyday investors. Sign up to receive a $500 credit for your first investment with Linqto, here: https://www.linqto.com/signup?r=e9tdhbl49v PLEASE REVIEW THE PODCAST ON ITUNES If you enjoyed this episode, please subscribe and leave a review. I love hearing from you! I so appreciate it! SUBSCRIBE TO BE WEALTHY & SMART Click Here to Subscribe Via iTunes PLEASE LEAVE A BOOK REVIEW FOR THE CRYPTO INVESTING BOOK Get my book, "3 Steps to Quantum Wealth: The Wealth Heiress' Guide to Financial Freedom by Investing in Cryptocurrencies". After you purchase the book, go here for your Crypto Book bonus: https://lindapjones.com/bookbonus PLEASE LEAVE A BOOK REVIEW FOR THE WEALTH HEIRESS BOOK Get my book, “You're Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!” Men love it too! After all, you are Wealth Heirs. :) WANT MORE FROM LINDA? Check out her program: https://www.lindapjones.com/why-join-the-vip-experience/ Get inspiration from Linda on Instagram: https://www.instagram.com/LindaPJones/ Follow her on Twitter: https://twitter.com/LindaPJones WEALTH MENTORING LIBRARY OF PODCASTS Listen to the full Wealth Mentoring Library of podcasts from the beginning. Use the search bar in the upper right corner of the page to search topics: https://www.lindapjones.com/podcasts/ Be Wealthy & Smart, is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor™. Learn simple steps that make a big difference to your financial freedom. (Some links are affiliate links. There is no additional cost to you.)
If you've filled up your car recently, you may have had quite a shock as petrol prices are well above $2 a litre. You might be surprised to know the current high price of fuel has little to do with the war in Ukraine. Today, business reporter Nassim Khadem on the forces behind the price hikes and why petrol prices won't be coming down any time soon. Featured: Nassim Khadem, ABC business reporter
#OzWatch: Official El Nno with official Positive Indian Dipole means hot, dry and plunging cattle prices. Jeremy Zakis, New South Wales. #FriendsofHistoryDebatingSociety https://www.news.com.au/technology/environment/im-nervous-concerns-double-whammy-of-climate-drivers-could-supercharge-el-nino/news-story/5441e2ef75741e0b6f10e0008de34db9 https://www.abc.net.au/news/2023-09-23/el-nino-is-back-and-cattle-prices-are-melting/102888200 1928 Sydney
#AUSTRALIA: Petrol prices up in Queensland; inflation troubling country wide; New Zealand rides out a 6.0 earthquake epicenter near Christ Church. Scott Mayman, CBSNews, Brisbane. https://www.abc.net.au/news/2023-09-20/new-zealand-hit-by-earthquake/102877954 1933 Queensland
This week, America's Land Auctioneer is joined by Jim Sabe, Pifer's Auctioneer/ Certified personal property appraiser based out of southwestern North Dakota. The duo Talked about cattle prices, this years harvest and the crop as it matures through 2023. Jim also highlights some tremendous upcoming equipment auctions happening this fall.
Have you heard that you're not charging enough?...Who hasn't?!? We are constantly encouraged, sometimes pressured, into raising our prices in order to grow our revenue. While that may seem to be the obvious driver, it's not always the answer. There is more to it than that and in this episode, I cover the ways to recalibrate your revenue in a more sustainable way. What you'll hear in this episode: [0:13] I am not able to support my profit levels. What should I do? [2:11] Increasing confidence in your prices. [4:21] What are some things you can do other than increasing your prices to increase your profit? If you like this episode, check out: How to Maximize the Return on an Unpaid Opportunity Building Authentic Relationships in Business with Barb Betts Building a Marketing Plan You'll Actually Stick To with Lauren Tilden Want to learn more so you can earn more? Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. Tactical Resources: 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator Additional Resources: Find everything you need at https://www.keepwhatyouearn.com Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa Hire us: https://www.fitnancialsolutions.com/accounting Find me on IG https://www.instagram.com/shannonkweinstein/ Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
Paul welcomes Rob Bates back to the show to discuss the release of his third book in the Diamond District Mystery Series, "Slay it With a Diamond." The conversation begins with Paul asking Rob if he gets a “serotonin boost” upon the completion of a book. Next, the two delve into the question of whether there will be a specific cataclysmic moment that changes the trajectory of the lab-diamond industry as supply feverishly grows and prices fall. Next, Paul and Rob explain why they think natural diamonds will persevere in the midst of current challenges and Paul shares why he thinks Paris-based Fred Joaillier's approach to lab-diamonds will be successful. The two then discuss what percentage of lab-diamond consumers want people to think it's a natural and Rob's talks about expressing emotion with a Cracker Jack ring. Finally, Paul and Rob analyze De Beers' strategy towards lab-diamonds and the resale of natural diamonds. Hosted by: Paul Zimnisky Guest: Rob Bates Guest plug: Amazon link to buy Rob's third book More information on PZDA's State of the Diamond Market report: www.paulzimnisky.com/products Show contact: firstname.lastname@example.org or visit www.paulzimnisky.com. Please note that the contents of this podcast includes anecdotes, observations and opinions. The information should not be considered investment or financial advice. Consult your investment professional before making any investment decisions. Please read full disclosure at: www.paulzimnisky.com.
Today, on Real Talk with Regan, I interviewed my past client Deronda, the Joy Ambassador and creator of the program, Joy Talks. You are going to hear about how Deronda doubled her prices and made $14K in 6 months, how she is now abroad, running her group programs, and how she has continued to enroll people in her program by completely changing her relationship with her sales processIn this episode, we explore how Derodna went from feeling icky selling, giving out discounts, not feeling like an expert, and feeling uncomfortable just talking about her program to saying in her words, "SELLING FEELS NATURAL."Deronda shares her experience with reframing her thoughts, stepping into the identity of an expert who believes she help anyone, and a woman who pitches her $2,000 program with ease. If you are ready to create 5 figure income, feel confident AF selling, and build your self-trust, you're going to want to listen to this episode a couple of times because you can learn so much from Deronda.Ready to connect with Deronda? You can visit her website here!Want to work with Regan Privately? Apply for 1:1 coaching here.
Your thoughts on everything from the India story to the opening of Parliament to climate change. Even a letter calling the host's comments "juvenile". Yes we air it all. Plus the Random Ranter takes on the grocery chains.
The OPEC+ production cuts continue to impact both crude oil and refined products. Dated Brent has reached a 10-month high. Prices in the diesel market are also rising amid supply constraints. Meanwhile, the latest report from the IEA has warned investors of strong demand in Q4. In this episode of the Platts Oil Markets podcast, London-based oil news reporter Robert Perkins and oil price reporters Sam Angell and Sasha Foss join Francesco Di Salvo to discuss the current bullish sentiment supporting prices as market participants react to the latest developments in the oil markets. Price assessments discussed: PCAAS00 - Dated Brent AJSVB00 - Johan Sverdrup FOB North Sea vs North Sea Dtd Strip AAVBG00 - ULSD 10ppmS CIF NWE Cargo
下載 KKTV APP，享受最優質的追劇體驗與免費好劇10/20前，登入 APP 抽 iPad ➟ https://link.fstry.me/452ypmq —— 以上為 Firstory DAI 動態廣告 —— ------------------------------- 強化英語課程資訊 ------------------------------- 「社會人核心英語」有聲書課程連結：https://15minsengcafe.pse.is/554esm ------------------------------- 15Mins.Today 相關連結 ------------------------------- 歡迎針對這一集留言你的想法： 留言連結 官方網站：www.15mins.today 加入Clubhouse直播室：https://15minsengcafe.pse.is/46hm8k 訂閱YouTube頻道：https://15minsengcafe.pse.is/3rhuuy 主題投稿/意見回覆 : email@example.com 商業合作/贊助來信：firstname.lastname@example.org ------------------------------- 以下有參考文字稿～ 各播放器有不同字數限制，完整文稿可到官網搜尋 ------------------------------- 國際時事跟讀 Ep.K645: The Challenge of Lowering Supermarket Prices in France France's Finance Minister, Bruno Le Maire, is engaging in discussions with the country's top supermarkets and suppliers to address the rising cost of food and essential goods. Despite efforts to reduce prices, the cost of living continues to strain consumers' budgets. This article explores the factors contributing to France's struggle to lower supermarket prices. 法國的財政部長布魯諾·勒梅爾正與國內頂級超市和供應商進行討論，以應對食品和生活必需品的成本上漲。儘管努力降低價格，但生活成本仍然使消費者的預算捉襟見肘。本文探討了導致法國難以降低超市價格的因素。 Supply disruptions caused by Russia's invasion of Ukraine last year led to increased commodity costs worldwide, contributing to global inflation. However, even after energy and agricultural commodity costs decreased this year, food prices in France and other countries continued to rise. In June, Le Maire secured a commitment from 75 leading food companies to lower prices on hundreds of products starting in July, aligning with reduced raw material costs. Unfortunately, only around 40 companies followed through on this pledge, highlighting the challenges in the industry. 去年俄羅斯入侵烏克蘭導致供應中斷，導致全球商品成本上升，助長了全球通脹。然而，即使在今年能源和農產品成本下降後，法國和其他國家的食品價格仍在繼續上升。今年六月，勒梅爾成功取得了75家主要食品公司的承諾，將從七月起降低數百種產品的價格，以配合原物料成本的降低。不幸的是，只有大約40家公司履行了此承諾，突顯了該行業所面臨的挑戰。 One key obstacle to aggressive price cuts in France is the way retail prices are determined. Unlike most countries, France has a legal framework that restricts price negotiations to a specific three-month window—between December 1st and March 1st each year. Prices remain fixed for a year unless individual agreements include review clauses. This system has caused retailers and industrial groups to forecast that significant price reductions will not occur until March of the following year. They argue for more frequent negotiations to adapt to changing economic conditions. 在法國，降低價格的一個關鍵障礙是零售價格確定的方式。與大多數國家不同，法國有一個法律框架，將價格談判限制在每年12月1日至3月1日的特定三個月之間。除非個別協議包含檢討條款，否則價格將固定一年。這一系統導致零售商和工業集團預測，重大價格下降將不會發生，直到次年三月。他們主張進行更頻繁的談判，以適應不斷變化的經濟條件。 France's EGAlim legislation, introduced in 2018 and updated in 2021, aimed to boost farmers' income by requiring contracts between suppliers and retailers to include automatic price revision clauses based on commodity price fluctuations. However, these revisions are limited to certain agricultural inputs like grains, milk, sugar, and meat, omitting other essential factors such as energy, labor, and packaging. A Senate report from the previous year revealed that revision clauses covering raw materials applied to only 20% of contracts, with most prices locked in yearly negotiations. 法國的EGAlim法案於2018年推出，並於2021年進行了更新，目標透過要求供應商和零售商之間的合約包含基於商品價格波動的自動價格修訂條款來提高農民的收入。然而，這些修訂僅限於一些農產品，如穀物、牛奶、糖和肉類，不包括其他如能源、勞動力和包裝等其他重要因素。去年的參議院報告顯示，僅有20％的合約涵蓋了與原物料有關的修訂條款，其餘多數的價格則固定在年度談判中。 Additional factors affecting prices include regulations limiting product discounts and promotional offers. Retailers are prohibited from discounting products by more than 34% of their value and from selling more than 25% of a product's volume in promotional deals under the EGAlim legislation. A new law, the Descrozaille law, extends the 34% limit to beauty, hygiene, and care products. Critics, such as Carrefour's CEO Olivier Bompard, argue that this law restricts retailers' bargaining power and ultimately benefits multinational corporations rather than small producers. 影響價格的其他因素包括限制產品折扣和促銷優惠的法規。根據EGAlim法案，零售商不得將產品折扣超過其價值的34％，也不得將產品銷量的25％以上用於促銷。一項名為Descrozaille的新法律將34％的限制擴展到美容、衛生和護理產品。家樂福的CEO奧利維爾·邦帕爾等批評者認為該法律限制了零售商的議價能力，最終受益的只有跨國公司而非小生產商。 Reference article: https://www.reuters.com/markets/europe/why-is-france-struggling-lower-supermarket-prices-2023-08-30/
If you want to be the best in your field, you need to act like it and price like it. In this episode, I share a real-life example from a pair of my clients who followed advice from their peers and transformed their business into a huge success. The best part? They raised their prices, and their customers absolutely loved it! Today, I encourage you to increase your prices, use that money to build the best product, and take action as soon as opportunity strikes. By aligning your pricing with value and listening to your community, you can create a thriving business that will have your customers forever grateful. IN THIS EPISODE: - How to be a fast action-taker and make bold moves - Tips for aligning your branding, services, and pricing for your premiere product - Your customers will associate higher prices with better quality - Why you need to seek objective outside advice RESOURCES - Check out Benchmark Fitness - Text ROUNDTABLE to 310-421-0416 to get information on our next roundtable event CONNECT WITH CHRIS Follow me: @chriswharder Visit my website: chrisharder.me Learn more about frello, my peer-to-peer lending app: frelloapp.com Follow frello: @frello_app
Eric Paley is the Managing Partner at Founder Collective, one of the world's most successful seed funds with investments in the likes of Uber, The Trade Desk, Coupang and Airtable. Mike Maples is one of the OGs of seed investing. As the Co-Founder of Floodgate, he has backed the likes of Twitch, Okta, Lyft, Twitter and more. Jason Lemkin is the Founder @ SaaStr one of the best-performing early-stage venture funds with a portfolio including Algolia, Pipedrive, Salesloft, TalkDesk, and RevenueCat to name a few. In Today's Episode on Is the Venture Model Broken? : Is the classic seed model dead? Can seed funds play in a world of $25M valuations? Why is having a firm grasp of the present the best thing an early-stage investor can have? Why does Mike Maples believe no company with true product-market-fit has ever failed? Why does Eric Paley believe "go faster" is the worst startup advice? Why does Mike Maples believe there is a direct relationship between price and risk? Why does Mike Maples believe that outliers by their very nature are lower priced? Why does Eric Paley not focus on ownership? Why can it be dangerous? What are the biggest risks for founders raising at valuations that are too high? Why does Eric Paley believe we will have the biggest chasm between TVPI and DPI in the prior vintage of venture capital returns? Why does Eric believe the majority of SPACs were BS and great companies can always go public? Why does Jason believe that if multiples do not reflate, the venture model is broken? Why does Jason believe we will see the biggest hiring spree in tech next year? How has illiquidity allowed Eric Paley to make some of the best investment decisions? What is Mike Maples biggest lesson from selling Twitter stock early at $1BN?
Inflation fears are everywhere! Prices of food, gas, housing and all of the other items that we need on a daily basis are increasing. Learn how to combat inflation in your own personal life with THREE valuable tips.and remember...If you have ever wondered what it might be like to have me, personally as your financial advisor... schedule your 30 minute appointment at www.weeklywealthpodcast.com/contactIf you are a business owner, take the VALUE BUILDER ASSESSMENT at www.allofmyassets.com/value-builder-score
The Squiz is your shortcut to the news. More details and links to further reading for all of today's news can be found in The Squiz Today email. Click here to get it in your inbox each weekday morning. Here's the Hollywood charity auction. Other things we do: Squiz Shortcuts - a weekly explainer on big news topics Squiz Kids - a news podcast for curious kids. Age-appropriate news without the nasties!
Patrick De Hann is the head of petroleum analysis at GasBuddy, a technology company that tracks prices at gas stations across the country. He talks more about what's in store for diesel prices. See omnystudio.com/listener for privacy information.
Episode 99. You know how sometimes when there's some kind of big numerical milestone looming on a podcast, the episode just before it is a lackluster placeholder type of episode? Well, we were going to do that but Gaby was unavailable, so instead Dan and I come to you with this episode that is chock full of spicy, saucy, sassy, succulent, spectacular content. Also, lots of poop talk. Tune in to hear... A BRAND NEW game that Dan actually prepared beforehand! A new segment called, "Talkin' Beer Here with Dan Hughes" Where Dan formulates his ideas. Duty Free Shops, and their infringement on our freedoms. TONS of discussion about Ireland: Dan's recent trip there, and his thoughts on prices. More thoughts on prices. Museums. Prices. Amphibious boats. Tipping in Dublin. Or lack thereof. Prices. Why everyone in the UK dips their chips in Guinness beer. Some game talk! A Few Acres of Rubbish.
The Fed can raise interest rates, but they cannot create housing supply. Housing intelligence analyst Rick Sharga joins us for the second week in a row. This housing market is awful for primary residence homebuyers. But at GRE Marketplace, you can still buy income properties with rates as low as 4.75%. Rick tells us that the most prosperous markets now favor the: Midwest and Southeast, single-family homes, rental property investors with buy-and-hold strategies. National home prices are appreciating modestly. Home sales volume is still down. Investors now account for more than one-quarter of property purchases. Mortgage delinquencies are near an all-time low. Rick and I discuss why this market is so bad for flippers. High homeowner equity positions ($300K+) support this housing market. Timestamps: The impact of rising mortgage rates [00:02:37] Discussion on how the Federal Reserve's raising of short-term rates has caused mortgage rates to go up, affecting the housing market. The affordability challenge [00:03:38] Exploration of the impact of higher mortgage rates on homebuyers, particularly first-time buyers, and the decrease in affordability. Low supply of homes [00:08:48] Analysis of the low inventory of homes for sale, with a decrease of 9% from the previous year and 47% from 2019, leading to a challenging market. The mortgage rate lock in effect [00:11:05] Discussion on how the mortgage rate lock in effect can crimp demand but cannot create supply. Hottest markets in the Midwest and Southeast [00:11:05] Analysis of the hottest real estate markets in the Midwest and Southeast regions of the United States. Positive turn in home price appreciation [00:13:06] Explanation of how home price appreciation went down but has recently turned positive again. Housing Permits, Starts, and Construction [00:21:24] Discussion on the trends and levels of housing permits, starts, and construction, and the need for builders to increase production. Investor Activity in the Residential Market [00:22:28] Exploration of the percentage of home purchases made by investors, with a focus on small and medium-sized investors and the misconception of institutional investors dominating the market. Delinquencies and Foreclosures [00:24:36] Analysis of mortgage delinquency rates, foreclosure activity, and homeowner equity, highlighting the low delinquency rates, the presence of equity in foreclosed homes, and the importance of early-stage foreclosure sales. The future direction of rents [00:32:00] Discussion on the potential upward pressure on rents due to low affordability and high homeownership rate. Inventory coming to the market [00:33:03] Exploration of the impact of expensive inventory coming to the market and its effect on rent prices. The overall economy and housing market [00:34:03] Consideration of the possibility of a recession, unemployment spike, and foreclosures affecting the housing market. The coach's role in finding real estate deals [00:43:06] Explanation of how an investment coach can help you find the best real estate deals in the marketplace. Advantages of buying properties from marketplace [00:44:20] Reasons why buying properties from marketplace can lead to good deals, including lower prices and absence of emotional seller involvement. Resources mentioned: Show Notes: www.GetRichEducation.com/467 Rick Sharga's website: CJPatrick.com Rick Sharga on X (Twitter): @RickSharga Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review” Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold (00:00:01) - Welcome to. I'm your host, Keith Weinhold. Hold a terrific discussion today on the direction of the housing market, including lessons that you can learn for all time plummeting home sales volume and direly low home inventory. Why home price appreciation is taking place now. Could the government soon penalize you for owning too many rental properties? What's the best place for a real estate investor to position themselves in this era? And more today on Get Rich Education. (00:00:33) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is Get rich education. (00:00:56) - Walking from Horseheads, New York to Nags Head, North Carolina, and across 188 nations worldwide. I'm Keith Weinhold. And you're listening. To get rich education, you are going to get a fantastic market update today. And along the way, you'll also learn lessons if you're consuming this 5 or 10 years from now. Our expert guest was with us last week to discuss the economy. This week, it's episode two of two as we discuss the real estate market. (00:01:25) - He has been the executive VP of markets at some of America's leading housing intelligence firms, and today he's the founder and CEO of Patrick Company, either a market intelligence firm for the real estate and mortgage markets. And he has 20 plus years of experience in those industries. It's the return of Rick Saga Part two of two. It's not imperative that you listen to last week's Part one of two that we can help you see the big picture. Enjoy this long, unbroken interview and then after the break, I'll come back to close it. Just you and I. We're talking with Rick Sagar, expert housing analyst, previously. We talked about the general condition of the economy. And now Rick and I are going to break down the housing market with what's happening there. There's so definitively connected. Keith One of the things to that the Federal Reserve has done by raising those short term rates is caused mortgage rates to go up, right? Mortgage rates tend to run loosely in line with the yields on the ten year US Treasury bonds that we talked about at the end of the first segment. (00:02:37) - Those are now up around 4%. And typically a 30 year fixed rate mortgage will be between one and a half and two percentage points higher than that yield. So in a normal market, we'd be looking at a mortgage rate today of about five and a half to 6%. Instead because of the risk and the volatility that the market is pricing in because they're not sure what the Federal Reserve is going to do next. We're looking at mortgage rates for a 30 year fixed rate loan of over 7%. The most recent numbers from last week from Freddie Mac, we were at almost 7.2% on that average, 30 year fixed rate loan and 6.5% on a 15 year fixed rate loan. You and I were talking before the show and and you know, historically speaking, if we keep these things in context, we're still actually below the 25 year average, which was 8%. But we have a whole generation of homebuyers who've come of age during the period of the lowest mortgage rates in the history of the country. They got spoiled, they got spoiled. (00:03:38) - And to be clear, it's one of the reasons that home prices rose as rapidly as they did and got as high as they are is because you could afford to make monthly payments with a two and a half, three, 3.5% mortgage. Now, you still have home prices about as high as they were then, and you have a mortgage rate that's doubled. And for most home buyers, particularly first time home buyers that make your monthly mortgage payment was going to go up by 45 to 60%. And most of us didn't get that 45 to 60% raise last year. It really had a huge impact on affordability. In fact, this is such an unusual occurrence that according to Freddie Mac, it's the only time in US history when mortgage rates doubled during a calendar year and they didn't just double in a calendar year. Keith They doubled in the space in a few months. It was that kind of systemic shock to the system that really hit the housing market as hard as it did. Right. And they've also nearly tripled in a pretty short period of time. (00:04:35) - Yeah, they really have. And again, going back historically speaking and and get this from Gen Z folks and millennials, when I talk about, you know, the old days of mortgage and I do remember my first mortgage had two numbers to the left of the decimal point. I forget if it was 11 or 12%, but it was something like that. And they basically say, okay, Boomer, but that 11% mortgage was on your $70,000 house, Right. And not, you know, today's median priced home of $430,000 or whatever it is. So it's a fair point. Mortgage rates are not high, historically speaking, but that monthly cost, because of the combination of home prices and higher interest rates, is choking some people and making affordability a problem. And because of that, one of the forward looking metrics that I take a look at is the purchase loan mortgage application index from the Mortgage Bankers Association. So this is the number of people that are applying for loans with the purpose of buying a house. (00:05:35) - They're off almost 30% on a year over year basis right now. You can see without straining your eyes at all the impact that these higher mortgage rates are having on the housing market. And we had almost record numbers of purchase loan applications from the time people who are allowed out of their house during the pandemic until these mortgage rates doubled from 2020 through the early part of 2022, mortgage rates were in the threes and fours and sometimes even in the twos. Yeah, everyone wants to talk about mortgage rates and it is an important discussion to have here at Marketplace with our investment coaches. Rick Some builders, as you know, they commonly offer rate buy down incentives to buyers of new homes. And what some of our providers are doing here, Rick, is we have one builder where if you use their preferred lender, they're buying down your income property's mortgage rate to 5.75%. And we have another builder where if you use their preferred lender, they're still buying down your mortgage rate to 4.75%. And of course, with Non-owner occupied property here, you know, previously you had talked about mortgage rates in excess of seven. (00:06:47) - They might normally be about 8% for non owner occupied property, but you're able to buy them down to five and three quarters or even four and three quarters with one of our providers for new builds right now, that's a great deal and your listener should really be taking advantage of those opportunities. We'll get into new homes in a few minutes and what we're seeing builders do for consumers, But have to tell you, those numbers are better deals than consumers are getting right now. And you're being generous when you're talking about private lending rates right now. Most of the lenders I'm familiar with are nine, ten, 11%, depending on the nature of your investment. So your folks are getting a great deal with those rates. We talked about purchase loan applications. The other advanced predictor I look at is pending home sales. These are people that are entering into contracts. The deal hasn't been closed yet. Has it been recorded yet? This comes out from the National Association of Realtors. And those numbers are down on a year over year basis as well. (00:07:42) - There's a lot of rate sensitivity in the market, though, Keith. And if you go back to March when rates went down just a fraction of a percent, we saw more purchase loan applications. We saw more pending home sales. But as rates have climbed back up over seven, we've seen both of these metrics go down. Yeah. So we're talking about pending home sales. We're talking about sales volume that's down in this discussion, not sales price. And anyone might be hard to say, but when you see sales volume that's down, including pending sales, how often is that due to worse affordability and how often is that due to low supply of homes? Why don't we jump right into that? Keith That's a great segue. And this is a very difficult time in the housing market because it has both of the factors that you just mentioned, two very difficult headwinds for the market to try and overcome. And and we'll get into details on both of those in just a minute. Because of that, existing home sales were down in July and they were down pretty significantly on a year over year basis, about 16%. (00:08:48) - And that's the 23rd consecutive month where existing home sales were lower than they were the prior year. January was the lowest month of sales this month, and it broke a streak we started this year. I was forecasting that we'd see between 4.3 and 4.4 existing home sales. That's down from about 5.2 last year in about 6.1 million the year before. Right now, we're trending at a little over 4 million existing home sales for the year. So even my relatively low forecast for the year may have been overly optimistic. You mentioned inventory and inventory is a huge headwind for the market. Inventory of homes for sale today is down about 9% from where it was a year ago. It's down 47% from where we were in 2019, which was probably the last normal year we've had in the housing market. In a normal year, we would be looking at about a six month supply of homes available for sale. That's what economists or housing market analysts will look at as a balanced market balance between supply and demand. We're at about two and a half months supply right now nationally and in many states it's much lower than that. (00:09:56) - So there's just not much out here. And the only reason the inventory number looks as good as it looks and it doesn't look very good is because it's taking a little longer to sell properties once they hit the market. If you were looking at new listing data, it's even worse. There's very little inventory coming to market in the way of new listings, and that's because of the rate increases we talked about a minute ago. 90% of borrowers with a mortgage have an interest rate on that mortgage of 6% or less. 70% have an interest rate of 4% or less. If you're sitting on a mortgage rate of 3.5% and you sell your house and buy a house at the same exact price with a 7% mortgage, you've just doubled your monthly mortgage payment. It's not that people psychologically don't want to trade a low rate for a high rate. There's a financial penalty for them doing so. And until we see mortgage rates come down a bit, probably into the fives, we're just not going to see a lot of inventory coming to market except for homeowners who need to sell or have so much equity and maybe you're going to downsize into a smaller property that they don't care about that kind of shift. (00:11:05) - Yeah, that is the mortgage rate lock in effect. Perfectly explain. And the Fed with the raising rates, they can crimp demand. But one thing that the Fed cannot do is create supply. As much as you might like to see Jerome Powell in work boots with a nail gun, that just doesn't happen. There's an image for you, for your listeners. Yeah, and I'm not sure I'd want to. I'd want to live in that house. That's not Chairman Powell building, but inspection. Yeah. Good economist. Maybe not a carpenter. We were talking about this a little bit earlier, too. And if you're an investor, this is probably worth noting, whether you're a fix and flip investor or investor who's buying properties to rent out a lot of the interest. This is from the sharing some data from Realtor.com and they've taken a look at where people are searching for properties and where transactions are taking place and they're finding that Midwest Southeast are really the hottest markets, places that are a little off the beaten path, you know, places in New Hampshire and Connecticut and Maine and Ohio and Wisconsin. (00:12:06) - But interestingly, some of the markets that had been suffering a little bit, they're starting to see a little more interest in whether it's California, but off the coast or markets in Colorado or Washington state. But clearly, a lot of the activity, a lot of the money is moving into the Midwest, in southeast. That's right. With the work from anywhere trend, you might see this small flattening and not as much of a disparity in home prices between markets. You're certainly still going to see that, but that can just help create a mild flattening when it doesn't matter where you live anymore and you can go ahead and purchase in lower cost markets. Yeah, and what I'm sharing now is national home prices, home price. And I'm glad you mentioned what you just did, Keith, because the fact of the matter is this has been a very localized correction. And if you're in San Francisco or San Jose, if you're in Seattle, if you're in Austin, if you're in Phoenix, you're in markets where prices are off 10% or more from peak. (00:13:06) - If you're in Boise, Idaho, you're off more than 10% from peak of Boise had oil prices go up by 47% in a single year, a year or so ago. So he just overshot the mark. One of the reasons the national numbers don't show more volatility is because of what Keith just mentioned. It's because people are trading in where they are in a high price, high tax state moving into a lower price state and candidly outbidding local buyers and probably overpaying a little bit for those properties. So you're seeing home prices go up in some of those less expensive markets much more rapidly than they would under normal circumstances. And what we're talking about here is national home prices that are appreciating at a modest rate now. Yeah, and they are. So if you look at whether you're looking at the Case-Shiller index, it gets published monthly or the National Association of Realtors data. We saw home price appreciation start to go down last year. It was still positive but going down and that was true until pretty much the end of the first quarter this year when the data went negative for the first time in years. (00:14:15) - So we were seeing on both a month over month and year over year basis home prices go down and that happened until June, June, things flatlined in July. Prices actually went up ah, year over year. So if you're looking at the median home price compared to the peak price a year ago, it's actually up about 1% from where we were last year, which is kind of amazing. The Case-Shiller index is a little bit of a lagging indicator and it rolls three months together, but it also started to turn the corner with its July report. So after almost a full year of price appreciation coming down and prices in decline, we've seen both of these indexes turn and are starting to go positive. It does show you that there continues to be demand for properties that are brought to market. And while home price appreciation certainly isn't soaring by any means, it's back in positive territory now. And that's something that a lot of people hadn't predicted this year. When the supply of homes is this low, it keeps generating a few bids for any available home. (00:15:21) - Now, not as many bids as it did back in 2021. But besides generating bids, you have these huge population cohorts of millennials and Gen Zers that are growing, and they're in their prime homebuyer years moving through the system to go ahead and place those bids and keep just modest home price appreciation here lately. That's sort of how I see it. Rick If you want to add any color or thoughts to that, I think you're spot on. Keith It's the largest cohort of young adults between the ages of 25 and 34 in US history. That's prime age for forming a household. 33 to 34 is the average age of a first time buyer right now. And so these people would like to buy a house. And for people who are investing in single family rental properties in particular, at least short term, the affordability issue is something that definitely works in your favor. If somebody was looking to buy a house, they might prefer to rent a house rather than rent an apartment. I've read research that shows somewhere between 20 and 30% of people who had planned to buy have decided to rent for the next year or two while market conditions settle down or while they can put aside more money for a down payment. (00:16:27) - These market conditions are playing in favor of people who have rental properties to offer. One other metric I'd like to share in terms of home prices, Keith is the FHFa puts out its own index. FHFa is the government entity that controls Fannie Mae and Freddie Mac. So these are your conventional bread and butter, vanilla kind of 30 year fixed rate loans. If you look at their portfolio, home prices are actually up 3.1% year over year. And every sector of the country is showing positive rice appreciation except for the Pacific states and the mountain states. And those are some of the markets we talked about earlier. And even those are very close to breaking even at this point. So HFA breaks it into about ten regions, nine of those ten currently appreciating year over year. Yep, something like that important for you to know again as an investor as to what's happening in your region. Again, whether you're you're planning to sell the property or rent it out. You talked about what builders are doing for your investor folks. (00:17:28) - Yeah, we're seeing new home sales actually improving to consumers as well for a lot of the same reasons, incentives. So a lot of builders are coming to the closing table with cash. They're paying points on mortgages and getting those rates down where they're short term or long term. They're offering discounts, they're offering upgrades to properties. And so new home sales are still down, but just slightly on a year over year basis and have actually been beating last year's numbers for the last four months. My original estimate for new home sales this year was about 600,000. I think we're going to probably coming closer to 675,000 this year. And the only reason we won't sell more is because the builders aren't building that fast enough. But one of the reasons people are buying these new homes is because that's what's on the market today. People would have bought an existing home, can't find one. Here's the other factor. New home prices are down 16.4% from last year's peak. Now, this is informative. Think this would surprise a lot of people? Well, it surprises me. (00:18:28) - It should surprise people because new home prices almost always go up, right? This does not mean builders are discounting homes 16.4%. What's happening is they are building less expensive homes, They're less expensive per square foot, and they're building smaller homes. And they're doing that in acknowledgement of the higher cost of financing. That also, by the way, is in sending people to look at these properties as either a starter home or a minor move up kind of property. But it is one of the reasons why new home sales are doing better than existing home sales right now on a percentage basis. That's an interesting number, Rick. A few weeks ago, I shared with our newsletter audience that builders are building homes smaller and closer together, which might be reflected in lower prices, but just didn't think it would be 16.4% lower from peak. Now, if you're doing year over year, it's probably not that big of a drop, but from the peak price we are off. And it is to your point, it's a pretty significant number. (00:19:26) - It would be a problematic number if it was the existing home market, right, because then you'd be looking at the same property being worth 16% less. But a builder can kind of play with those numbers a little bit. Single family housing starts after falling for quite a while, are now back going back up only slightly from where they were a year ago, but they are moving in the right direction. Multifamily starts have actually tailed off a little bit after reaching record high numbers. There could be as many as a million apartment units coming to market this year. Yeah, which would be an all time record. So we've seen building on those multifamily units slow down a little bit. If you look at at new home starts for single family properties still below where they were a year ago. But again, for the first time in quite a few months, starting to trend up. A couple of things to share with your viewers here, Keith. In terms of construction, we're seeing construction continue to grow in the multifamily market because of all the starts we saw previously. (00:20:23) - We are seeing single family construction slowed down, but that's because the builders are working their way through a glut of homes that was under construction. So we had a really weird happenstance about a year ago, a little over year, we had the highest number of homes under construction ever. And this data goes back to the early 1970s, and we had the lowest number of completed properties available for sale ever. And a lot of that was due to supply chain delays and to labor shortages. And over the last year to 15 months, the builders have gradually begun working through this glut of homes that were started but not finished. And we've seen the number of completed homes go up a little bit, almost back to normal levels, not quite there. One of the reasons they're not quite there is people are buying these homes before they're completed. They're working with the builder. Buying a home is it's almost ready to go, but still under construction. What's been encouraging, looking into the future is that permitting has increased a bit over the last two quarters. (00:21:24) - We know builders are betting on the future. They're not necessarily breaking ground on all these properties they have permits for because they don't want to oversaturate either. And they're being very judicious with their building because they got caught with a ton of inventory during the Great Recession that they wound up selling at fire sale prices. But the trends are long term, looking like they're going in the right direction right now for new homes. So to help the viewer and listeners chronologically, we're talking about housing permits followed by housing starts. And then finally, housing construction. Right? Permits are up, starts are up recently, but down year over year. And the construction numbers are getting back close to normal levels. And we need the builders to build more because even before the rate lock effect took effect and existing home inventory got so scarce we didn't have enough housing in the works, we were depending on whose numbers you believe, somewhere between 2 and 6 million units short. We need the builders to come back to market. Note for your folks. (00:22:28) - Keith Investors continue to account for a fairly significant amount of activity in the residential market. Over a quarter of home purchases 26% in June, which is the most recent data we have, were made by investors and believe this number actually under reports the number of investor purchases because it's from a company called CoreLogic, it's accurate data for what they count, but they only count investor purchases where the buying entity has an LLC and LP Corp kind of entity. And we know that a lot of buyers don't do that who are investors. So it probably understates it. But the fact of the matter is that historically speaking, 26% of residential purchases being done by investors is pretty high number. That's a pretty high number and as you alluded to, is probably actually higher than 26% of home purchases being made by investors. And so the headlines will breathlessly tell you that Main Street is being gobbled up by Wall Street. Oh, I know. And those institutional investors are evil people. They're buying everything that the truth is is completely the opposite. (00:23:31) - If you look at investors who are buying properties, it's really the small investors who are buying about 46% of those investor purchases and medium sized investors about 35%. If you're looking at the biggest of the big investors, they're buying less than 10% of what's going out today. And they still own collectively about 3% of the single family rental stock. It's the mom and pop investor who continues to drive the market. Yeah, I'm glad you bring this up, Rick, because there seems to be this outsized perception that institutional money through someone like, say, in Invitation homes is just gobbling up all the good investor homes. And and they're really not. It's mom and pop investors that rule. In fact, there's some legislation pending in D.C. right now that's aimed to keep these institutional investors from doing what they're already not doing and have some tax penalties for anybody who owns. Here's the number that's important. More than 50 properties well, Invitation Homes owns significantly more than 50 properties. I know a lot of medium sized investors who own more than 50 properties. (00:24:36) - Yeah, they're certainly not institutional investors. They certainly don't have a hedge fund behind them. Important again, for folks in this market to be in touch with their legislators and let them know what's really going on in the marketplace so we don't get this kind of bad legislation. It makes it tough for the average investor to really take full advantage of the opportunities that are out there. 100%. Mom and pop investors might need more than 50 units to obtain financial freedom. Yep. Just to wrap up, Keith, a couple of points on delinquencies and foreclosures. I know a lot of investors got into the business, you know, a decade or so ago and there was just a rash of foreclosure activity and you could buy a distressed property by just walking down the street and knocking on doors. It's a little different these days because of that strong economy we talked about earlier. In that low unemployment rate. Mortgage delinquencies are at an all time low. Mortgage Bankers Association reported that the midpoint of this year, at the end of the second quarter, the total delinquency rate was 3.37%. (00:25:36) - To put that in context, historically the number is somewhere between 4 and 5%. So not only are we not seeing a lot of delinquencies, we're seeing less than we would see normally as seriously delinquent loans. The ones that are 90 days plus past due is as low as we've seen it in probably the last 6 or 7 years. That's really interesting. So not very many homeowners are in trouble with making their payments, which to some people might seem like a conflict with what we described back in the earlier part of the chat about low savings and higher credit card debt. So many of these homeowners are locked in to these really low payments where they got low mortgage interest rates. Plus inflation cannot touch those fixed rate payments. And that's an important point for those people that are in these homes. It would be more expensive for them to go rent right now, probably because they got such a good deal on the mortgage rate. There's usually a pretty strong correlation between unemployment rates and mortgage delinquency rates. So I mentioned that the most recent report had unemployment at 3.8%. (00:26:37) - I think at the end of June it was a 3.5%. So we might see delinquency rates tick up a little bit. There was also some really bad social media memeing going on during the government's mortgage forbearance program. There was even an economist who predicted that almost everybody who got a forbearance was going to go into default and that would have been a catastrophe. If you look back a little over a year ago, actually more like two years ago when there was there were a lot of people in forbearance. You saw delinquency rates very high, but that was because people were allowed to miss payments. They were just being counted by the industry as delinquent. The fact is that less than a half of a percent, less than one half of 1% of the borrowers who were in forbearance and there were 8.5 million of them have defaulted on their loans. The overwhelming majority have done very, very well with that program. So it really didn't contribute to any kind of delinquency or default activity. So strong economy, extremely high, low quality because lenders really haven't been making many risky loans since the Great Recession. (00:27:40) - The record amount of of homeowner equity that's out there. Yeah. Is keeping this market pretty solid to the point where foreclosure activity today is still running at a little bit less than 60% of pre-pandemic levels. So in a normal market, about 1 to 1.5% of loans are in some state of foreclosure. In today's market, it's about a half a percent. So we're just not seeing much go into foreclosure and the properties that go into foreclosure. The homeowners have a significant amount of equity. 92% of borrowers in foreclosure have equity in their homes, which is wildly different from where we were during the great financial crisis, when a third of all homeowners were underwater on their loans. At just about everybody in foreclosure was upside down. And people push back at me when I'm out talking at conferences about this. Keith Oh, yeah, they have equity, but they don't have enough equity to make a difference. Oh, yes, they do. 88% of the borrowers in foreclosure have more than 20% equity. That's typically the magic number that a realtor will tell you you need in order to sell your property and avoid any other kind of complications with one of these foreclosures, preventing any sort of fire sale and lowering of prices that makes all home prices go down in a neighborhood where not anywhere near that. (00:28:57) - No, not at all. And in fact, some other data that I'll share with you and your listeners is that about 62% of the distressed property sales we see right now are properties in the early stage of foreclosure prior to the foreclosure auction, which means these distressed homeowners are protecting their equity by selling the property before it gets sold at a foreclosure sale. And so they're protecting the vast amount of this equity. But if you're an investor in today's market, there's some really important information in what I just gave you. You can't wait for the bank repossession. In this cycle, bank repossessions are running 70% below where they were prior to the pandemic, so there's fewer properties getting to auction because 67% of these distressed property sales are prior to the auction. Properties that get to auction are selling through at about 60% rate. So there's nothing going back to the lenders. So if you want to buy a property in some stage of foreclosure, your best bet in today's market is to get a list of people in the early stages of foreclosure and reach out directly to them. (00:30:01) - Your second best bet is to get to that foreclosure auction. Be ready to move at the auction, and your worst bet is to wait for the lender to repossess the property. And in fact, I've seen anecdotal data that suggests that those properties are actually more expensive than the ones you could buy from the homeowner or at the auction because the lenders are fixing them up and selling them at full market price. Good guidance for those chasing distressed properties. So that's what's going on in the foreclosure market. I don't see foreclosure activity being back to normal levels until sometime next year. And I don't see activity bank repossessions being back to normal levels even next year. It's a very different marketplace. This is what I was just talking about. Keith If you were to break up what selling and what stage of the foreclosure process right now, about 64% of distressed sales are taking place prior to the foreclosure auction and less than 20%. Distressed sales today are those background properties. So it's a very different world than what a lot of investors grew up in. (00:31:03) - Rick is about to share his summary with us, his closing thoughts. Before he does that, I've got two questions for you, Rick. I hear some people out there, it seems to be oftentimes the real estate agent type, maybe that's trying to be a big cheerleader for the market. And I hear a few of them say something like, hey, you know what? You better buy now, because when mortgage rates fall, home prices are really going to shoot through the roof. I don't really know that that necessarily happens because when mortgage rates fall, okay, that might increase demand of capable homebuyers, but it should also increase supply. Now, the mortgage rate lock in effect, goes away and more people will want to bring supply onto the market. And I also like to think about what happens when rates are falling. Typically, that means the economy needs help and unemployment might be a little higher. So my thoughts, Rick, are if mortgage rates do fall substantially, that might help home price appreciation a little bit, but I don't see it as any sure thing that that would make home prices go through the roof. (00:32:00) - What are your thoughts? It's a great question. You make a very logical argument. A lot of it comes down to supply. And that's where I would hedge my bets. I don't think we see a ton of supply come back to market until rates are back in the low fives. So there's a point and a half of interest going from little over seven to maybe 5.5%, where we're probably going to see more buyers come to market than we're going to see inventory come to the market. My other thought we touched on it earlier is with rents. Talk to me about the future direction of rents. They were horribly hot a year or two ago, up 15% year over year. Rents have moderated substantially. But with this really lousy home affordability and a high homeownership rate, it seems like with this low affordability, we're set up for the homeownership rate to go lower in the proportion that rent go higher, which could put upward pressure on rents over time here. What are your thoughts with rents? Yeah, offsetting what you just said is a record number of apartment units coming to market this year. (00:33:03) - There are likely to be some markets across the country that wind up oversupplied because of the amount of inventory coming to market. Now, don't get me wrong, the inventory coming to market is going to tend to be expensive inventory. And so that in and of itself could make rent prices come up a bit. I do believe in the short term I would tend to agree with you that the lack of housing stock available for people who would like to buy is going to play in the benefit of the folks who own properties to rent. And that will, I believe, be particularly true for people that own single family residential units that are like houses to rent. I guess we're going to split the difference on these two questions. I'm going to mostly agree with you on the second one. I do believe there's a chance prices will go up a little bit more than you think as mortgage rates come down until we get down to about 5.5%, mortgage rates are lower when we see more of that inventory coming to market. And what is the real wild card in all of this, of course, is what happens with the overall economy. (00:34:03) - Do we enter a recession? Does unemployment spike? If that's the case, that should weaken, demand a bit and you could have a little bit of an uptick in foreclosures, which will weaken the market as well. So a lot of different components at play. And I think what people ask you questions like that, Keith, about, you know, mortgage rates come down, is this going to happen? They kind of oversimplify the equation quite a bit. There are a lot of other variables that go into it. 100%. Why don't you go ahead and share your closing thoughts with us? A lot of stuff we covered, so I won't dwell on too much of this very long. But from my perspective, a recession is still a real possibility. Probably not until next year if we have one. And if we do, it's likely to be pretty mild and fairly short and we shouldn't see a huge, huge spike in unemployment. I do believe that as the Fed decides it's done raising the Fed funds rate and announces that we'll see mortgage rates gradually decline back toward 6% by the end of this year. (00:34:57) - And we'll be back in the fives next year. And by the way, historically, every time the Fed has stopped raising the Fed funds rate, we have seen mortgage rates come back down. Existing home sales right now are on pace for their lowest number since 2009. Likely, we're going to see somewhere in the neighborhood of 4.2 million existing home sales. But we're likely to see more new home sales than a lot of people had forecast beginning of this year, maybe 650, 675,000 of those sales in 2023. And we've seen prices decline in the new home market, but they might have bottomed out in the existing home market because of the supply and demand thing that Keith and I have kind of beaten to death during this podcast. Again, importantly for this audience, investors continue to account for a very large percentage of residential purchases and a lot of you seem to be shifting toward buy and hold strategies, which again makes ultimately good sense in a market like today's. And then that anticipated wave of foreclosures that all those folks on YouTube were trying to sell you courses to figure out how to maximize never materialized. (00:35:57) - And at least during this cycle, not likely to any time soon. Probably won't. Yes, A lot of people a couple of years ago, especially on YouTube, were talking about a certain price collapse is coming and it never happened. And I never saw how it would have happened and I never made those sort of dire predictions. Well, Rick, this was a great chat about the overall economy, the housing market and what investors need with the housing market. I'm sure our audience learned an awful lot. It was a terrific update. If our audience wants to learn more about you and kind of wish this chat would just go on and they could learn more about you and engage with your resources. What's the best way for them to do that? Well, you can certainly follow me on social media. I refuse to say my Twitter handle is just Rick Saga. I'm on LinkedIn to hard to find there. You can also check out my website which is Patrick. Com. Enjoy doing these conversations with you Keith. (00:36:51) - Think the first time we talked you reached out because I had come down like the wrath of God on somebody who was predicting a housing price crash because I didn't see one coming either and thought he was doing investors a disservice. So keep the faith and keep the good fight going. Keith And I'll be here whenever you want to talk. Jerry Listeners can't stop talking about their service from Ridge Lending Group and MLS 42056. They have provided our tribe with more loans than anyone there truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four Plex's. So start your pre-qualification and you can chat with President Charlie Ridge personally, though, even deliver your custom plan for growing your real estate portfolio. Start at Ridge Lending Group. Com. You know, I'll just tell you for the most passive part of my real estate investing personally, I put my own dollars with freedom family investments because their funds pay me a stream of regular cash flow in. Returns are better than a bank savings account up to 12%. (00:38:00) - Their minimums are as low as 25. K. You don't even need to be accredited. For some of them, it's all backed by real estate and I kind of love how the tax benefit of doing this can offset capital gains in your W-2, jobs, income. And they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. For a little insider tip, I've invested in their power fund to get going on that text family to 668660. And this isn't a solicitation If you want to invest where I do, just go ahead and text family to six six, eight six, six. Hi, this is Russell Gray, co-host of the Real Estate Guy's radio show. And you're listening to Get Rich Education with Keith Reinhold. Don't Quit Your Day dream. Yeah, terrific insight from Rick, as usual. It's remarkable how much this interview is aligned with what we're doing here. As Rick discussed how, though, it's a tough environment for homebuyers, it's better for investors, especially for single family rentals and especially in the Midwest and South are core areas. (00:39:23) - It's a better market for the buy and hold investor than it is for flippers. It's a tough chase for flippers. Sometimes you don't flip the house, the house flips you. There are still so few homeowners in delinquency and foreclosure. Rick believes that when lower mortgage rates come, home, prices could appreciate more than I tend to think. We'll see how that turns out. And, you know, historically here, as we talk about the direction of home prices and the direction of rent growth Now with respect to home prices, when I provided you with the home price appreciation forecast, I keep somewhat undershooting. The market appreciation tends to outperform what I think by just a bit. Back in 2018, 2019, home price appreciation rates, they were just kind of bumping along at 4 or 5%. Back then, interest rates were super low, housing supply was more balanced. And I said right here on this show then about five years ago, that I don't see what will make home price growth like really accelerate or shoot up from here. (00:40:32) - Well, then we had the pandemic, something that no one saw coming when the pandemic fog cleared. You remember that all here on the show in late 2021, I forecast 9 to 10% home price appreciation for the coming year, which back then I was talking about 2022. And then that appreciation rate for 2022 came in at 10.2%. Although I was close, I shot just a touch low. Now at the end of 2022, well, about nine months ago, I predicted zero home price appreciation for this year. As we near the fourth quarter, it looks like we'll get low single digit appreciation, but that remains to be seen. However, I've long been undershooting the market just a bit, though. Close and mortgage rates. No, don't even ask me. I don't try I don't make mortgage forecast. That is too hard to do. Making a mortgage rate prediction is almost like a certain way to be wrong. Although Rick and I talked about how this is a good market for investors, to my point from last week, in some markets, cash flow has become an endangered species with some of these increasing expenses for investors. (00:41:46) - And again, I have some really good news for you here. We have largely solved that problem here at Gray of higher mortgage rates, hurting your cash flow. And that's why investors like you are still snapping up rental properties from Marketplace right now because of the strength of our marketplace network and relationships. Here we have a new build provider offering a mortgage rate to investors of 5.75%. Yes, they will see that your rate is bought down to 5.75%. In today's environment, another new build investment property provider is offering a rate buy down to 4.75%. Yes, you heard THAtrillionIGHT? And we have another builder provider where our investment coaches have been sharing with you a 2.99% seller financing option. There is more to it than that. And these builders, though they are in business to move property. So take advantage of it where you can. And besides buying down your mortgage rate for you like that, some are even waiving their property management fee for you for the first year. In addition to buying down the rate. I don't know how long all that's going to last, so this can be a really good time for you to contact your in investment coach. (00:43:06) - Your coach will help you shop the marketplace properties, tell you where the real deals are and tell you how to get those improbably low mortgage rates for income properties. Today, your coach guides you and makes it easy for you If you don't have an investment coach yet, just go to Marketplace. Com slash coach and they're there to help you out. And marketplace properties they are often less expensive than elsewhere in addition to the low rates from some of the providers. But now you might wonder why often are the prices not always, but often, why are they lower? Well, first of all, investor advantage markets just intrinsically have lower prices than the national median. And secondly, there is no real estate agent to compensate with the traditional 6% commission, you are buying more directly. Thirdly, these property providers, they are not. And pop flippers that provide investors like you and other people where they just flip like one home a year instead. These are builders and renovation and management companies in business to do this at scale so they get to buy their materials in bulk, keeping the price lower for you. (00:44:20) - And another reason that you tend to find good deals at Marketplace is that you aren't buying properties from owner occupants where their emotions get involved and they get irrational over there on the seller side. So you can go ahead and get started with off market deals at GRI, marketplace.com. If you'd like the free coaching from our investment coaches, then contact your coach. And if you don't have one yet again you can do that straight at GRI marketplace.com/coach that's an action item for you this week that your future self should thank you for until next week. I'm your host Keith Winfield. Don't quit your day dream. (00:45:04) - 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. (00:45:32) - The preceding program was brought to you by your home for wealth building get rich education.
Wayne Resnick and Amy King join Bill for Handel on the News. Los Angeles officials to offer $250,000 reward for information on death of sheriff's deputy shot in his patrol car. Drew Barrymore postpones show. City is sued over plan to expand the Los Angeles Zoo in Griffith Park. Iran prisoner release: Five detained Americans expected to be freed. Southern California gas prices climb at their fastest rate this year.
In this episode we discuss the Backyard Breaks scam allegations, the Santa Cruz skateboard flipping and so many Pokemon products that are dropping. ---------------------------------------------------------------------------------------------------------------------------------------- News, Analysts, Breakdowns, and Personal thoughts, come join in the fun discussing it all with us. ---------------------------------------------------------------------------------------------------------------------------------------- Check us out on the following: Twitter: https://twitter.com/CBA_Podcast Instagram: https://www.instagram.com/cardboard_addicts_podcast ---------------------------------------------------------------------------------------------------------------------------------------- Zenturion XYZ's Content: https://linktr.ee/zenturionxyz Grumpy's Content: https://linktr.ee/agrumpycharizard Gonzo's Content: https://linktr.ee/026gonzo Ren's Content: https://linktr.ee/renscollectibles Sudons Content: Twitch: https://www.twitch.tv/sudonslivesegment Twitter: https://twitter.com/SudonLives Instagram: https://www.instagram.com/sudonlives/ Tiktok: https://www.tiktok.com/@sudonlives
After many years of escalating prices, it's now a buyer's market for institutional, quality multi-family assets. Institutions are on the sidelines as they rebalance investment portfolios, and it's become much harder for newer operators to raise money. As a result, the buyer pool has shrunken, and prices have decreased. Class A, new vintage properties are selling for 10% off their peak in growing secondary markets in the Midwest. Ivan Barratt, Founder of the BAM companies, a fully vertically integrated Private Equity multifamily Real Estate firm, has close to 1 Billion in assets under management and has generated greater than a 35% IRR to investors with an average of a 3.5 year hold time.
2023's insurance market is bad. Really bad. “As bad as I've ever seen,” says Insurance Office of America's Robert J. Hamilton. He's never seen home and multifamily insurance prices as high as today. But, he has good reason to believe that a better insurance market could be upon us soon, especially as prices continue to ramp up and providers get priced out of the market. If you're a property owner, there's a good chance your insurance premium increased significantly in price last year and the year before. After several unprecedented natural disasters, states like Texas, Florida, and California have seen carriers massively raise rates or leave their markets entirely. But why now? And how long will this last? Robert walks us through exactly what's caused the higher insurance rates, why so many carriers have given up or died out, and “the beginning of a reset” that could be on the horizon. Andrew Cushman, long-time friend of the show and multifamily investor, gives his seven quick tips on finding a better rate and protecting your property if and when disaster strikes. DO NOT analyze another deal before you watch this episode because, by the time you finish, your new insurance rate could ruin the profit potential. In This Episode We Cover: The wild 2023 insurance crisis explained and why rates have gone up so dramatically The “capacity crunch” forcing insurance carriers to leave risky markets What's causing rates to rise and the “reinsurance” problem carriers face Underwriting your next rental/multifamily and how to properly predict property insurance costs The safest states/areas to invest in that carriers are flocking to The “percentage deductible” trap that could bankrupt your deal if you aren't careful And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Davids's BiggerPockets Profile David's Instagram Network with Other Investors on the BiggerPockets Forums How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability What Is Rental Property Insurance & Do Landlords Need It? Book Mentioned in the Show: SCALE by David Greene Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Andrew's Website Connect with Robert: Robert's Email Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-819 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email email@example.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Moana & Shrooms: Just imagine if they redid Splash Mountain as a Moana water ride compounded with the idea of peaking on shrooms as I AM MOANA drops. We could have had it all. Jonathan Majors's Comeback: Was this a staged moment or is Jonathan Majors just a hero of the people? We watch and react to Kang himself breaking up a fight outside of In N Out. Ahsoka & Star Wars: Jim is way behind on the homework and has no idea what is going on with this new Star Wars, Mike has the answer. Fast Food Inflation: This FOOD WAR brings us all to agreement as these god damn prices are out of control. LET'S JUST TALK!, BOOGIE NIGHTS!, DON CHEADLE!, SPIDER-MAN 2!, PS5!, PLAYSTATION!, MEDIA EVENT!, REAL ONES!, VENOM!, TTS!, HEARTWARMING!, WHOLESOME CONTENT!, @HEARTWARMEDD!, FATHER!, SON!, BAT!, GIFT!, VOICE CRACK!, SPLASH MOUNTAIN!, TIANA'S BAYOU!, MOANA!, WATER RIDE!, THEME PARKS!, DISNEY!, TIANA LYNN!, SQUIRT QUEEN!, I AM MOANA!, MUSIC!, SHROOMS!, PEAKING!, EVERYTIME I DIE!, NEWSBOYS!, DROP!, GOD'S NOT DEAD!, TANGLED!, AVATAR RIDE!, EPCOT!, BRIOCHE BUN!, ICE CREAM SANDWICH!, WAFFLE MAKER!, BESTIES KEEP ME GROUNDED!, JOCK LINDSAY!, FINSTA!, DR ODDFELLOW!, CONFETTI BUN!, BUBBLEGUM MUSTARD!, KOOL AID SOAKED PICKLES!, PICKLE MILKSHAKE!, DILL FLAVOR!, THEME PARK FOOD!, SCARFF DOGGZ!, THE LAST OF US!, TMZ!, FIGHT!, JONATHAN MAJORS!, IMAGE!, PUBLICITY STUNT!, FAKE!, PERFORMATIVE!, STAR WARS!, AHSOKA!, DAVE FILONI!, REBELS!, EZRA!, SABINE!, HOMEWORK!, DARTH VADER!, WORLD BETWEEN WORLDS!, KYLO REN!, TIME TRAVEL!, STAR WARS THEORY!, FROM MY SCRIPT!, TRAFFIC!, SPORTS!, AARON RODGERS!, PAT MCAFEE!, BOOSTER!, PISSCORD!, FETAL ALCOHOL SYNDROME!, RILF!, CONSPIRACY!, BIT!, GORDON!, MAD!, SERIOUS!, GLOBOCHOMO!, FAST FOOD!, FOOD WARS!, INFLATION!, PRICES!, SCAMS!, DEALS!, MCBUM!, DEL TACO!, TACO BELL!, RAISING CANE'S!, SELF CHECKOUT!, STEALING!, CAPITALISM!
Don is joined by Robbie Campo of Campo's Marina to talk about Speckled Trout reports as they are not reaching the numbers Robbie wants yet, some recent White Trout meals he's had, some Teal reports around the Biloxi marsh and St. Bernard area as the season begins, if you can shoot Mottled Ducks and Teals, and Shrimp prices are plummeting as supply continues to climb.
Jason and Will Denis of the Flippin' SoFlo podcast discuss various aspects of the current real estate market and the impact of interest rates and inflation. They emphasize the importance of looking at data rather than getting caught up in fear-based news and offer insights into why the real estate market remains strong despite economic challenges. They mention that low-interest rates have led to affordable mortgage payments for many homeowners, making it unlikely for a real estate crash to occur without distressed sellers in mass quantities. Additionally, they discuss inventory levels and how they affect the housing market, emphasizing the resilience of real estate as an asset class. They talk about potential returns on investment in income properties, with projected returns ranging from 20% to 30%. Jason emphasizes that income property is a historically proven asset class with multi-dimensional earning potential. #RealEstate #HousingMarket #InterestRates #Inflation #Investment #IncomeProperties #Returns Key Takeaways: 1:22 It's all about inflation: Data not drama 3:41 News versus noise 4:33 Inventory levels and the sink metaphor 12:24 Wanted for an RE crash: distressed sellers 14:02 Credit scores and what it means to the housing market 16:01 Population and immigration: Demographics is destiny 18:18 Massive housing construction 23:31 The ‘Perma bull' of the housing market 26:15 Jason's crystal ball 32:04 Minimize exposure to ‘fear porn' Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com
The housing crash is 100% certain according to Keith Weinhold. While we agreed with Keith on a lot of ideas on this episode, we do have a heated debate on why housing is not crashing yet and why it might take a while. Join us this week on Money Tree Investing where we skewer some traditional thinking about real estate so you can find the best opportunities in the real estate market without taking a bath... although you should definitely bath daily. Today's Panelists: Kirk Chisholm | Innovative Wealth Barbara Friedberg | Barbara Friedberg Personal Finance Megan Gorman | The Wealth Intersection Follow on Facebook: https://www.facebook.com/moneytreepodcast Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast Follow on X (formerly Twitter): https://x.com/MTIPodcast