Podcasts about Sun Belt

The Rust Belt is heating up while the Sun Belt cools down. In today's episode, we break down Redfin's latest metro-level housing market rankings, revealing that cities like Milwaukee, Chicago, and Philadelphia are outperforming the national market with rising sales and prices. Meanwhile, boomtowns like Las Vegas, Sacramento, and Miami are slowing fast as inventory surges and buyers gain leverage. Learn more about your ad choices. Visit megaphone.fm/adchoices

Greg previews the Sun Belt for the upcoming 2024-25 season by looking at the conference from a stylistic and betting standpoint, doing a deep dive on every team's roster, the coaching changes & moving parts with Blake Lovell of Southeastern 16, & Greg gives his projected order of finish for each team in the conference.Podcast Highlights2:33-Styles & Betting Trends of the Sun Belt15:48-Deep dive on every Sun Belt roster with Blake Lovell51:07-Greg's projected order of conference finish in the Sun Belt

Sponsored by thegalindocollective.com, BHIhats.com, turnkey-tailgate.com, Austin.Patchmaster.com  -  The Texas State Bobcats will kick off the 2025 season at home this Saturday against Eastern Michigan. WNOGB Keff Ciardello host has a combo preview and mailbag prepared for the occasion in episode 202. (Produced by Zachary Webb)

The Crew breaks down the Micah Parsons trade, takes a look at college football Week 1 & the Sun Belt Conference!!Give us your thoughts!Support the show

It's the 2025 season debut of Mountaineer Talk from Rivers Street Ale House in Boone. Join head coach Dowell Loggains along with defensive backs Ja'Den McBurrows and Elijah McCantos as we get ready for the season opener against Charlotte. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Texas State kicks off the 2025 season at Eastern Michigan. Here are the three keys that will decide if the Bobcats start 1–0.It's game week. Texas State opens the season on the road against Eastern Michigan, and this matchup is going to come down to a few critical factors.What do you think—what's the most important key to victory in Week One? Drop your thoughts in the comments

Send us a textDominick Crosetto and TJ Courman kick off the Sun Belt Syndicate with a full 2025 football preview. The guys recap Marshall's 2024 championship run, spotlight the biggest games to circle on this year's calendar, break down projected standings in both divisions, and debate which teams could play spoiler. They also run through the Sun Belt's top players heading into the season—including QB Braylon Braxton and LB Jason Henderson—and finish with bold predictions for the year ahead.Support the showBe sure to check out Don't Sleep Energy at www.dontsleepenergy.com or at their Amazon shop. Go to Amazon and search 'Don't Sleep Energy'. Check out all Phenom has to offer at www.phenomelitebrand.com. Whether you need cleats, gloves, or accessories, Phenom's got you covered!

In this Topical Tuesday episode, I spoke with Brian Burke who is the President & CEO of Praxis Capital, Inc. Brian has acquired over 800 million dollars' worth of real estate over a 30-year career including over 4,000 multifamily units and more than 700 single-family homes. He is also the author of “The Hands-Off Investor: An Insider's Guide to Investing in Passive Real Estate Syndications”. Be sure to tune in if you're interested in learning about: The rise in distress across different lending sectors, with CMBS loans seeing notable increases. Regional multifamily opportunities, highlighting short-term potential in the Midwest and long-term value in the Sunbelt. The challenges and evolving strategies in value-add multifamily investing. Insights on vertical integration in property management and its complexities. To your success, Tyler Lyons Resources mentioned in the episode: Brian Burke Website Instagram Book Interested in learning how to take your capital raising game to the next level? Meet us at Capital Raiser's Edge. Learn more here: https://raisingcapital.com/cre

We're live from Pitbull Stadium with a very special guest — FIU legend and current DB coach Anthony Gaitor. From his days as a three-time All-Sun Belt standout and NFL Draft pick to now leading FIU's secondary, Gaitor shares his journey, the importance of doing it “in your backyard,” and why this season feels like 2010 all over again.We dive into:Gaitor's favorite FIU playing memories (Texas A&M pick-six, Sun Belt title, first bowl win)His transition from NFL player to coachInsights on new head coach Willie Simmons and the culture shift at FIUThe return of QB Keyone Jenkins and the excitement for August 29th kickoffWhy FIU fans need to pack Pitbull Stadium this seasonThis one's for Panther Nation — FIU is back.

Coollege Nation Live T8 Ep71. Guía de CN. Análisis conferencial, Sun Belt. Continuamos nuestros análisis conferenciales con el análisis de la Sun Belt Conference.

Morgan Keim spent a decade launching food tech startups and raising $400M, only to realize that income without ownership was not true freedom. What began in 2014 as a quiet hedge against startup volatility grew into a full-time mission as he placed over 50 LP checks and then led two dozen contrarian acquisitions across the Midwest and Sunbelt. With 105 percent net investor returns across seven exits, he has transformed overlooked Class C properties into safe communities and stable cash flow. Today, as Managing Partner of Ocean Ridge Capital, Morgan helps founders and operators trade burnout for lasting wealth while tackling America's housing crisis.   Here's some of the topics we covered:   Breaking Free From Limiting Beliefs And Owning Your Path From Digital Marketing Hustle To Real Estate Empire Builder The Cash For Keys Strategy That Changes The Game The Hidden Struggles Of Affordable Housing No One Talks About Inside Morgan's Playbook For Managing A Full Rehab The Must-Know Advice Every New Real Estate Investor Needs How Morgan Builds Power Teams That Actually Deliver The Two Asset Classes Morgan Can't Stop Investing In Unlocking Your True Strengths And Leveraging Them For Success The Silver Tsunami That Will Disrupt Senior Housing Over The Next Decade   To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com    For more about Rod and his real estate investing journey go to www.rodkhleif.com   Please Review and Subscribe  

The playoffs really come down to who the fourth (and maybe fifth) SEC team will be. The playoff committee will shaft 12-0 Notre Dame. Can an American squad upend an 11-1 Boise team? Regional Rivalries in the Sun Belt. And look what the NIL has done to the MAC. Uggg...

It's the Sun Belt preview, rounding out our offseason conference preview series. Plus, some week zero talk.Flipping The Field is presented by Meet At Midfield and Homefield Apparel. Use code MEETATMIDFIELD for 15 percent off your first order at Homefield Apparel.If you like the show, please tell a friend and leave a five-star review. If you want to keep up to date with the show, subscribe on your podcasting app of choice and follow the show on Twitter at FieldFlipping.If you have a question you'd like answered on the show, send us a DM on the show's Twitter account.

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Today I'm talking to economic historian Judge Glock, Director of Research at the Manhattan Institute. Judge works on a lot of topics: if you enjoy this episode, I'd encourage you to read some of his work on housing markets and the Environmental Protection Agency. But I cornered him today to talk about civil service reform.Since the 1990s, over 20 red and blue states have made radical changes to how they hire and fire government employees — changes that would be completely outside the Overton window at the federal level. A paper by Judge and Renu Mukherjee lists four reforms made by states like Texas, Florida, and Georgia: * At-will employment for state workers* The elimination of collective bargaining agreements* Giving managers much more discretion to hire* Giving managers much more discretion in how they pay employeesJudge finds decent evidence that the reforms have improved the effectiveness of state governments, and little evidence of the politicization that federal reformers fear. Meanwhile, in Washington, managers can't see applicants' resumes, keyword searches determine who gets hired, and firing a bad performer can take years. But almost none of these ideas are on the table in Washington.Thanks to Harry Fletcher-Wood for his judicious transcript edits and fact-checking, and to Katerina Barton for audio edits.Judge, you have a paper out about lessons for civil service reform from the states. Since the ‘90s, red and blue states have made big changes to how they hire and fire people. Walk through those changes for me.I was born and grew up in Washington DC, heard a lot about civil service throughout my childhood, and began to research it as an adult. But I knew almost nothing about the state civil service systems. When I began working in the states — mainly across the Sunbelt, including in Texas, Kansas, Arizona — I was surprised to learn that their civil service systems were reformed to an absolutely radical extent relative to anything proposed at the federal level, let alone implemented.Starting in the 1990s, several states went to complete at-will employment. That means there were no official civil service protections for any state employees. Some managers were authorized to hire people off the street, just like you could in the private sector. A manager meets someone in a coffee shop, they say, "I'm looking for exactly your role. Why don't you come on board?" At the federal level, with its stultified hiring process, it seemed absurd to even suggest something like that.You had states that got rid of any collective bargaining agreements with their public employee unions. You also had states that did a lot more broadbanding [creating wider pay bands] for employee pay: a lot more discretion for managers to reward or penalize their employees depending on their performance.These major reforms in these states were, from the perspective of DC, incredibly radical. Literally nobody at the federal level proposes anything approximating what has been in place for decades in the states. That should be more commonly known, and should infiltrate the debate on civil service reform in DC.Even though the evidence is not absolutely airtight, on the whole these reforms have been positive. A lot of the evidence is surveys asking managers and operators in these states how they think it works. They've generally been positive. We know these states operate pretty well: Places like Texas, Florida, and Arizona rank well on state capacity metrics in terms of cost of government, time for permitting, and other issues.Finally, to me the most surprising thing is the dog that didn't bark. The argument in the federal government against civil service reform is, “If you do this, we will open up the gates of hell and return to the 19th-century patronage system, where spoilsmen come and go depending on elected officials, and the government is overrun with political appointees who don't care about the civil service.” That has simply not happened. We have very few reports of any concrete examples of politicization at the state level. In surveys, state employees and managers can almost never remember any example of political preferences influencing hiring or firing.One of the surveys you cited asked, “Can you think of a time someone said that they thought that the political preferences were a factor in civil service hiring?” and it was something like 5%.It was in that 5-10% range. I don't think you'd find a dissimilar number of people who would say that even in an official civil service system. Politics is not completely excluded even from a formal civil service system.A few weeks ago, you and I talked to our mutual friend, Don Moynihan, who's a scholar of public administration. He's more skeptical about the evidence that civil service reform would be positive at the federal level.One of your points is, “We don't have strong negative evidence from the states. Productivity didn't crater in states that moved to an at-will employment system.” We do have strong evidence that collective bargaining in the public sector is bad for productivity.What I think you and Don would agree on is that we could use more evidence on the hiring and firing side than the surveys that we have. Is that a fair assessment?Yes, I think that's correct. As you mentioned, the evidence on collective bargaining is pretty close to universal: it raises costs, reduces the efficiency of government, and has few to no positive upsides.On hiring and firing, I mentioned a few studies. There's a 2013 study that looks at HR managers in six states and finds very little evidence of politicization, and managers generally prefer the new system. There was a dissertation that surveyed several employees and managers in civil service reform and non-reform states. Across the board, the at-will employment states said they had better hiring retention, productivity, and so forth. And there's a 2002 study that looked specifically at Texas, Florida, and Georgia after their reforms, and found almost universal approbation inside the civil service itself for these reforms.These are not randomized control trials. But I think that generally positive evidence should point us directionally where we should go on civil service reform. If we loosen restrictions on discipline and firing, decentralize hiring and so forth — we probably get some productivity benefits from it. We can also know, with some amount of confidence, that the sky is not going to fall, which I think is a very important baseline assumption. The civil service system will continue on and probably be fairly close to what it is today, in terms of its political influence, if you have decentralized hiring and at-will employment.As you point out, a lot of these reforms that have happened in 20-odd states since the ‘90s would be totally outside the Overton window at the federal level. Why is it so easy for Georgia to make a bipartisan move in the ‘90s to at-will employment, when you couldn't raise the topic at the federal level?It's a good question. I think in the 1990s, a lot of people thought a combination of the 1978 Civil Service Reform Act — which was the Carter-era act that somewhat attempted to do what these states hoped to do in the 1990s — and the Clinton-era Reinventing Government Initiative, would accomplish the same ends. That didn't happen.That was an era when civil service reform was much more bipartisan. In Georgia, it was a Democratic governor, Zell Miller, who pushed it. In a lot of these other states, they got buy-in from both sides. The recent era of state reform took place after the 2010 Republican wave in the states. Since that wave, the reform impetus for civil service has been much more Republican. That has meant it's been a lot harder to get buy-in from both sides at the federal level, which will be necessary to overcome a filibuster.I think people know it has to be very bipartisan. We're just past the point, at least at the moment, where it can be bipartisan at the federal level. But there are areas where there's a fair amount of overlap between the two sides on what needs to happen, at least in the upper reaches of the civil service.It was interesting to me just how bipartisan civil service reform has been at various times. You talked about the Civil Service Reform Act, which passed Congress in 1978. President Carter tells Congress that the civil service system:“Has become a bureaucratic maze which neglects merit, tolerates poor performance, permits abuse of legitimate employee rights, and mires every personnel action in red tape, delay, and confusion.”That's a Democratic president saying that. It's striking to me that the civil service was not the polarized topic that it is today.Absolutely. Carter was a big civil service reformer in Georgia before those even larger 1990s reforms. He campaigned on civil service reform and thought it was essential to the success of his presidency. But I think you are seeing little sprouts of potential bipartisanship today, like the Chance to Compete Act at the end of 2024, and some of the reforms Obama did to the hiring process. There's options for bipartisanship at the federal level, even if it can't approach what the states have done.I want to walk through the federal hiring process. Let's say you're looking to hire in some federal agency — you pick the agency — and I graduated college recently, and I want to go into the civil service. Tell me about trying to hire somebody like me. What's your first step?It's interesting you bring up the college graduate, because that is one recent reform: President Trump put out an executive order trying to counsel agencies to remove the college degree requirement for job postings. This happened in a lot of states first, like Maryland, and that's also been bipartisan. This requirement for a college degree — which was used as a very unfortunate proxy for ability at a lot of these jobs — is now being removed. It's not across the whole federal government. There's still job postings that require higher education degrees, but that's something that's changed.To your question, let's say the Department of Transportation. That's one of the more bipartisan ones, when you look at surveys of federal civil servants. Department of Defense, Veterans Affairs, they tend to be a little more Republican. Health and Human Services and some other agencies tend to be pretty Democrat. Transportation is somewhere in the middle.As a manager, you try to craft a job description and posting to go up on the USA Jobs website, which is where all federal job postings go. When they created it back in 1996, that was supposedly a massive reform to federal hiring: this website where people could submit their resumes. Then, people submit their resumes and answer questions about their qualifications for the job.One of the slightly different aspects from the private sector is that those applications usually go to an HR specialist first. The specialist reviews everything and starts to rank people into different categories, based on a lot of weird things. It's supposed to be “knowledge, skills, and abilities” — your KSAs, or competencies. To some extent, this is a big step up from historical practice. You had, frankly, an absurd civil service exam, where people had to fill out questions about, say, General Grant or about US Code Title 42, or whatever it was, and then submit it. Someone rated the civil service exam, and then the top three test-takers were eligible for the job.We have this newer, better system, where we rank on knowledge, skills, and abilities, and HR puts put people into different categories. One of the awkward ways they do this is by merely scanning the resumes and applications for keywords. If it's a computer job, make sure you say the word “computer” somewhere in your resume. Make sure you say “manager” if it's a managerial job.Just to be clear, this is entirely literal. There's a keyword search, and folks who don't pass that search are dinged.Yes. I've always wondered, how common is this? It's sometimes hard to know what happens in the black box in these federal HR departments. I saw an HR official recently say, "If I'm not allowed to do keyword searches, I'm going to take 15 years to overlook all the applications, so I've got to do keyword searches." If they don't have the keywords, into the circular file it goes, as they used to say: into the garbage can.Then they start ranking people on their abilities into, often, three different categories. That is also very literal. If you put in the little word bubble, "I am an exceptional manager," you get pushed on into the next level of the competition. If you say, "I'm pretty good, but I'm not the best," into the circular file you go.I've gotten jaded about this, but it really is shocking. We ask candidates for a self-assessment, and if they just rank themselves 10/10 on everything, no matter how ludicrous, that improves their odds of being hired.That's going to immensely improve your odds. Similar to the keyword search, there's been pushback on this in recent years, and I'm definitely not going to say it's universal anymore. It's rarer than it used to be. But it's still a very common process.The historical civil service system used to operate on a rule of three. In places like New York, it still operates like that. The top three candidates on the evaluation system get presented to the manager, and the manager has to approve one of them for the position.Thanks partially to reforms by the Obama administration in 2010, they have this category rating system where the best qualified or the very qualified get put into a big bucket together [instead of only including the top three]. Those are the people that the person doing the hiring gets to see, evaluate, and decide who he wants to hire.There are some restrictions on that. If a veteran outranks everybody else, you've got to pick the veteran [typically known as Veterans' Preference]. That was an issue in some of the state civil service reforms, too. The states said, “We're just going to encourage a veterans' preference. We don't need a formalized system to say they get X number of points and have to be in Y category. We're just going to say, ‘Try to hire veterans.'” That's possible without the formal system, despite what some opponents of reform may claim.One of the particular problems here is just the nature of the people doing the hiring. Sometimes you just need good managers to encourage HR departments to look at a broader set of qualifications. But one of the bigger problems is that they keep the HR evaluation system divorced from the manager who is doing the hiring. David Shulkin, who was the head of the Department of Veterans Affairs (VA), wrote a great book, It Shouldn't Be This Hard to Serve Your Country. He was a healthcare exec, and the VA is mainly a healthcare agency. He would tell people, "You should work for me," they would send their applications into the HR void, and he'd never see them again. They would get blocked at some point in this HR evaluation process, and he'd be sent people with no healthcare experience, because for whatever reason they did well in the ranking.One of the very base-level reforms should be, “How can we more clearly integrate the hiring manager with the evaluation process?” To some extent, the bipartisan Chance to Compete Act tries to do this. They said, “You should have subject matter experts who are part of crafting the description of the job, are part of evaluating, and so forth.” But there's still a long road to go.Does that firewall — where the person who wants to hire doesn't get to look at the process until the end — exist originally because of concerns about cronyism?One of the interesting things about the civil service is its raison d'être — its reason for being — was supposedly a single, clear purpose: to prevent politicized hiring and patronage. That goes back to the Pendleton Civil Service Act of 1883. But it's always been a little strange that you have all of these very complex rules about every step of the process — from hiring to firing to promotion, and everything in between — to prevent political influence. We could just focus on preventing political influence, and not regulate every step of the process on the off-chance that without a clear regulation, political influence could creep in. This division [between hiring manager and applicants] is part of that general concern. There are areas where I've heard HR specialists say, "We declare that a manager is a subject matter expert, and we bring them into the process early on, we can do that." But still the division is pretty stark, and it's based on this excessive concern about patronage.One point you flag is that the Office of Personnel Management (OPM), which is the body that thinks about personnel in the federal government, has a 300-page regulatory document for agencies on how you have to hire. There's a remarkable amount of process.Yes, but even that is a big change from the Federal Personnel Manual, which was the 10,000-page document that we shredded in the 1990s. In the ‘90s, OPM gave the agencies what's called “delegated examining authorities.” This says, “You, agency, have power to decide who to hire, we're not going to do the central supervision anymore. But, but, but: here's the 300-page document that dictates exactly how you have to carry out that hiring.”So we have some decentralization, allowing managers more authority to control their own departments. But this two-level oversight — a local HR department that's ultimately being overseen by the OPM — also leads to a lot of slip ‘twixt cup and lip, in terms of how something gets implemented. If you're in the agency and you're concerned about the OPM overseeing your process, you're likely to be much more careful than you would like to be. “Yes, it's delegated to me, but ultimately, I know I have to answer to OPM about this process. I'm just going to color within the lines.”I often cite Texas, which has no central HR office. Each agency decides how it wants to hire. In a lot of these reform states, if there is a central personnel office, it's an information clearinghouse or reservoir of models. “You can use us, the central HR office, as a resource if you want us to help you post the job, evaluate it, or help manage your processes, but you don't have to.” That's the goal we should be striving for in a lot of the federal reforms. Just make OPM a resource for the managers in the individual departments to do their thing or go independent.Let's say I somehow get through the hiring process. You offer me a job at the Department of Transportation. What are you paying me?This is one of the more stultified aspects of the federal civil service system. OPM has another multi-hundred-page handbook called the Handbook of Occupational Groups and Families. Inside that, you've got 49 different “groups and families,” like “Clerical occupations.” Inside those 49 groups are a series of jobs, sometimes dozens, like “Computer Operator.” Inside those, they have independent documents — often themselves dozens of pages long — detailing classes of positions. Then you as a manager have to evaluate these nine factors, which can each give points to each position, which decides how you get slotted into this weird Government Schedule (GS) system [the federal payscale].Again, this is actually an improvement. Before, you used to have the Civil Service Commission, which went around staring very closely at someone over their typewriter and saying, "No, I think you should be a GS-12, not a GS-11, because someone over in the Department of Defense who does your same job is a GS-12." Now this is delegated to agencies, but again, the agencies have to listen to the OPM on how to classify and set their jobs into this 15-stage GS-classification system, each stage of which has 10 steps which determine your pay, and those steps are determined mainly by your seniority. It's a formalized step-by-step system, overwhelmingly based on just how long you've sat at your desk.Let's be optimistic about my performance as a civil servant. Say that over my first three years, I'm just hitting it out of the park. Can you give me a raise? What can you do to keep me in my role?Not too much. For most people, the within-step increases — those 10 steps inside each GS-level — is just set by seniority. Now there are all these quality step increases you can get, but they're very rare and they have to be documented. So you could hypothetically pay someone more, but it's going to be tough. In general, the managers just prefer to stick to seniority, because not sticking to it garners a lot of complaints. Like so much else, the goal is, "We don't want someone rewarding an official because they happen to share their political preferences." The result of that concern is basically nobody can get rewarded at all, which is very unfortunate.We do have examples in state and federal government of what's known as broadbanding, where you have very broad pay scales, and the manager can decide where to slot someone. Say you're a computer operator, which can mean someone who knows what an Excel spreadsheet is, or someone who's programming the most advanced AI systems. As a manager in South Carolina or Florida, you have a lot of discretion to say, "I can set you 50% above the market rate of what this job technically would go for, if I think you're doing a great job."That's very rare at the federal level. They've done broadbanding at the Government Accountability Office, the National Institute of Standards and Technology. The China Lake Experiment out in California gave managers a lot more discretion to reward scientists. But that's definitely the exception. In general, it's a step-wise, seniority-based system.What if you want to bring me into the Senior Executive Service (SES)? Theoretically, that sits at the top of the General Service scale. Can't you bump me up in there and pay me what you owe me?I could hypothetically bring you in as a senior executive servant. The SES was created in the 1978 Civil Service Reform Act. The idea was, “We're going to have this elite cadre of about 8,000 individuals at the top of the federal government, whose employment will be higher-risk and higher-reward. They might be fired, and we're going to give them higher pay to compensate for that.”Almost immediately, that did not work out. Congress was outraged at the higher pay given to the top officials and capped it. Ever since, how much the SES can get paid has been tightly controlled. As in most of the rest of the federal government, where they establish these performance pay incentives or bonuses — which do exist — they spread them like peanut butter over the whole service. To forestall complaints, everyone gets a little bit every two or three years.That's basically what happened to the SES. Their annual pay is capped at the vice president's salary, which is a cap for a lot of people in the federal government. For most of your GS and other executive scales, the cap is Congress's salary. [NB: This is no longer exactly true, since Congress froze its own salaries in 2009. The cap for GS (currently about $195k) is now above congressional salaries ($174k).]One of the big problems with pay in the federal government is pay compression. Across civil service systems, the highest-skilled people tend to be paid much less than the private sector, and the lowest-skilled people tend to get paid much more. The political science reason for that is pretty simple: the median voter in America still decides what seems reasonable. To the median voter, the average salary of a janitor looks low, and the average salary of a scientist looks way too high. Hence this tendency to pay compression. Your average federal employee is probably overpaid relative to the private sector, because the lowest-skilled employees are paid up to 40% higher than the private sector equivalent. The highest-paid employees, the post-graduate skilled professionals, are paid less. That makes it hard to recruit the top performers, but it also swells the wage budget in a way that makes it difficult to talk about reform.There's a lot of interest in this administration in making it easier to recruit talent and get rid of under-performers. There have been aggressive pushes to limit collective bargaining in the public sector. That should theoretically make it easier to recruit, but it also increases the precariousness of civil service roles. We've seen huge firings in the civil service over the last six months.Classically, the explicit trade-off of working in the federal government was, “Your pay is going to be capped, but you have this job for life. It's impossible to get rid of you.” You trade some lifetime earnings for stability. In a world where the stability is gone, but pay is still capped, isn't the net effect to drive talent away from the civil service?I think it's a concern now. On one level it should be ameliorated, because those who are most concerned with stability of employment do tend to be lower performers. If you have people who are leaving the federal service because all they want is stability, and they're not getting that anymore, that may not be a net loss. As someone who came out of academia and knows the wonder of effective lifetime annuities, there can be very high performers who like that stability who therefore take a lower salary. Without the ability to bump that pay up more, it's going to be an issue.I do know that, internally, the Trump administration has made some signs they're open to reforms in the top tiers of the SES and other parts of the federal government. They would be willing to have people get paid more at that level to compensate for the increased risks since the Trump administration came in. But when you look at the reductions in force (RIFs) that have happened under Trump, they are overwhelmingly among probationary employees, the lower-level employees.With some exceptions. If you've been promoted recently, you can get reclassified as probationary, so some high-performers got lumped in.Absolutely. The issue has been exacerbated precisely because the RIF regulations that are in place have made the firings particularly damaging. If you had a more streamlined RIF system — which they do have in many states, where seniority is not the main determinant of who gets laid off — these RIFs could be removing the lower-performing civil servants and keeping the higher-performing ones, and giving them some amount of confidence in their tenure.Unfortunately, the combination of large-scale removals with the existing RIF regs, which are very stringent, has demoralized some of the upper levels of the federal government. I share that concern. But I might add, it is interesting, if you look at the federal government's own figures on the total civil service workforce, they have gone down significantly since Trump came in office, but I think less than 100,000 still, in the most recent numbers that I've seen. I'm not sure how much to trust those, versus some of these other numbers where people have said 150,000, 200,000.Whether the Trump administration or a future administration can remove large numbers of people from the civil service should be somewhat divorced from the general conversation on civil service reform. The main debate about whether or not Trump can do this centers around how much power the appropriators in Congress have to determine the total amount of spending in particular agencies on their workforce. It does not depend necessarily on, "If we're going to remove people — whether for general layoffs, or reductions in force, or because of particular performance issues — how can we go about doing that?" My last-ditch hope to maintain a bipartisan possibility of civil service reform is to bracket, “How much power does the president have to remove or limit the workforce in general?” from “How can he go about hiring and firing, et cetera?”I think making it easier for the president to identify and remove poor performers is a tool that any future administration would like to have.We had this conversation sparked again with the firing of the Bureau of Labor Statistics commissioner. But that was a position Congress set up to be appointed by the President, confirmed by the Senate, and removable by the President. It's a separate issue from civil service at large. Everyone said, “We want the president to be able to hire and fire the commissioner.” Maybe firing the commissioner was a bad decision, but that's the situation today.Attentive listeners to Statecraft know I'm pretty critical, like you are, of the regulations that say you have to go in order of seniority. In mass layoffs, you're required to fire a lot of the young, talented people.But let's talk about individual firings. I've been a terrible civil servant, a nightmarish employee from day one. You want to discipline, remove, suspend, or fire me. What are your options?Anybody who has worked in the civil service knows it's hard to fire bad performers. Whatever their political valence, whatever they feel about the civil service system, they have horror stories about a person who just couldn't be removed.In the early 2010s, a spate of stories came out about air traffic controllers sleeping on the job. Then-transportation secretary, Ray LaHood, made a big public announcement: "I'm going to fire these three guys." After these big announcements, it turned out he was only able to remove one of them. One retired, and another had their firing reduced to a suspension.You had another horrific story where a man was joking on the phone with friends when a plane crashed into a helicopter and killed nine people over the Hudson River. National outcry. They said, "We're going to fire this guy." In the end, after going through the process, he only got a suspension. Everyone agrees it's too hard.The basic story is, you have two ways to fire someone. Chapter 75, the old way, is often considered the realm of misconduct: You've stolen something from the office, punched your colleague in the face during a dispute about the coffee, something illegal or just straight-out wrong. We get you under Chapter 75.The 1978 Civil Service Reform Act added Chapter 43, which is supposed to be the performance-based system to remove someone. As with so much of that Civil Service Reform Act, the people who passed it thought this might be the beginning of an entirely different system.In the end, lots of federal managers say there's not a huge difference between the two. Some use 75, some use 43. If you use 43, you have to document very clearly what the person did wrong. You have to put them on a performance improvement plan. If they failed a performance improvement plan after a certain amount of time, they can respond to any claims about what they did wrong. Then, they can take that process up to the Merit Systems Protection Board (MSPB) and claim that they were incorrectly fired, or that the processes weren't carried out appropriately. Then, if they want to, they can say, “Nah, I don't like the order I got,” and take it up to federal courts and complain there. Right now, the MSPB doesn't have a full quorum, which is complicating some of the recent removal disputes.You have this incredibly difficult process, unlike the private sector, where your boss looks at you and says, "I don't like how you're giving me the stink-eye today. Out you go." One could say that's good or bad, but, on the whole, I think the model should be closer to the private sector. We should trust managers to do their job without excessive oversight and process. That's clearly about as far from the realm of possibility as the current system, under which the estimate is 6-12 months to fire a very bad performer. The number of people who win at the Merit Systems Protection Board is still 20-30%.This goes into another issue, which is unionization. If you're part of a collective bargaining agreement — most of the regular federal civil service is — first, you have to go with this independent, union-based arbitration and grievance procedure. You're about 50/50 to win on those if your boss tries to remove you.So if I'm in the union, we go through that arbitration grievance system. If you win and I'm fired, I can take it to the Merit Systems Protection Board. If you win again, I can still take it to the federal courts.You can file different sorts of claims at each part. On Chapter 43, the MSPB is supposed to be about the process, not the evidence, and you just have to show it was followed. On 75, the manager has to show by preponderance of the evidence that the employee is harming the agency. Then there are different standards for what you take to the courts, and different standards according to each collective bargaining agreement for the grievance procedure when someone is disciplined. It's a very complicated, abstruse, and procedure-heavy process that makes it very difficult to remove people, which is why the involuntary separation rate at the federal government and most state governments is many multiples lower than the private sector.So, you would love to get me off your team because I'm abysmal. But you have no stomach for going through this whole process and I'm going to fight it. I'm ornery and contrarian and will drag this fight out. In practice, what do managers in the federal government do with their poor performers?I always heard about this growing up. There's the windowless office in the basement without a phone, or now an internet connection. You place someone down there, hope they get the message, and sooner or later they leave. But for plenty of people in America, that's the dream job. You just get to sit and nobody bothers you for eight hours. You punch in at 9 and punch out at 5, and that's your day. "Great. I'll collect that salary for another 10 years." But generally you just try to make life unpleasant for that person.Public sector collective bargaining in the US is new. I tend to think of it as just how the civil service works. But until about 50 years ago, there was no collective bargaining in the public sector.At the state level, it started with Wisconsin at the end of the 1950s. There were famous local government reforms beginning with the Little Wagner Act [signed in 1958] in New York City. Senator Robert Wagner had created the National Labor Relations Board. His son Robert F. Wagner Jr., mayor of New York, created the first US collective bargaining system at the local level in the ‘60s. In ‘62, John F. Kennedy issued an executive order which said, "We're going to deal officially with public sector unions,” but it was all informal and non-statutory.It wasn't until Title VII of the 1978 Civil Service Reform Act that unions had a formal, statutory role in our federal service system. This is shockingly new. To some extent, that was the great loss to many civil service reformers in ‘78. They wanted to get through a lot of these other big reforms about hiring and firing, but they gave up on the unions to try to get those. Some people think that exception swallowed the rest of the rules. The union power that was garnered in ‘78 overcame the other reforms people hoped to accomplish. Soon, you had the majority of the federal workforce subject to collective bargaining.But that's changing now too. Part of that Civil Service Reform Act said, “If your position is in a national security-related position, the president can determine it's not subject to collective bargaining.” Trump and the OPM have basically said, “Most positions in the federal government are national security-related, and therefore we're going to declare them off-limits to collective bargaining.” Some people say that sounds absurd. But 60% of the civilian civil service workforce is the Department of Defense, Veterans Affairs, and the Department of Homeland Security. I am not someone who tries to go too easy on this crowd. I think there's a heck of a lot that needs to be reformed. But it's also worth remembering that the majority of the civil service workforce are in these three agencies that Republicans tend to like a lot.Now, whether people like Veterans Affairs is more of an open question. We have some particular laws there about opening up processes after the scandals in the 2010s about waiting lists and hospitals. You had veterans hospitals saying, "We're meeting these standards for getting veterans in the door for these waiting lists." But they were straight-up lying about those standards. Many people who were on these lists waiting for months to see a doctor died in the interim, some from causes that could have been treated had they seen a VA doctor. That led to Congress doing big reforms in the VA in 2014 and 2017, precisely because everyone realized this is a problem.So, Trump has put out these executive orders stopping collective bargaining in all of these agencies that touch national security. Some of those, like the Environmental Protection Agency (EPA), seem like a tough sell. I guess that, if you want to dig a mine and the Chinese are trying to dig their own mine and we want the mine to go quickly without the EPA pettifogging it, maybe. But the core ones are pretty solid. So far the courts have upheld the executive order to go in place. So collective bargaining there could be reformed.But in the rest of the government, there are these very extreme, long collective bargaining agreements between agencies and their unions. I've hit on the Transportation Security Administration (TSA) as one that's had pretty extensive bargaining with its union. When we created the TSA to supervise airport security, a lot of people said, "We need a crème de la crème to supervise airports after 9/11. We want to keep this out of union hands, because we know unions are going to make it difficult to move people around." The Obama administration said, "Nope, we're going to negotiate with the union." Now you have these huge negotiations with the unions about parking spots, hours of employment, uniforms, and everything under the sun. That makes it hard for managers in the TSA to decide when people should go where or what they should do.One thing we've talked about on Statecraft in past episodes — for instance, with John Kamensky, who was a pivotal figure in the Clinton-Gore reforms — was this relationship between government employees and “Beltway Bandits”: the contractors who do jobs you might think of as civil service jobs. One critique of that ‘90s Clinton-Gore push, “Reinventing Government,” was that although they shrank the size of the civil service on paper, the number of contractors employed by the federal government ballooned to fill that void. They did not meaningfully reduce the total number of people being paid by the federal government. Talk to me about the relationship between the civil service reform that you'd like to see and this army of folks who are not formally employees.Every government service is a combination of public employees and inputs, and private employees and inputs. There's never a single thing the government does — federal, state, or local — that doesn't involve inputs from the private sector. That could be as simple as the uniforms for the janitors. Even if you have a publicly employed janitor, who buys the mop? You're not manufacturing the mops.I understand the critique that the excessive focus on full-time employees in the 1990s led to contracting out some positions that could be done directly by the government. But I think that misses how much of the government can and should be contracted out. The basic Office of Management and Budget (OMB) statute [OMB Circular No. A-76] defining what is an essential government duty should still be the dividing line. What does the government have to do, because that is the public overseeing a process? Versus, what can the private sector just do itself?I always cite Stephen Goldsmith, the old mayor of Indianapolis. He proposed what he called the Yellow Pages test. If you open the Yellow Pages [phone directory] and three businesses do that business, the government should not be in that business. There's three garbage haulers out there. Instead of having a formal government garbage-hauling department, just contract out the garbage.With the internet, you should have a lot more opportunities to contract stuff out. I think that is generally good, and we should not have the federal government going about a lot of the day-to-day procedural things that don't require public input. What a lot of people didn't recognize is how much pressure that's going to put on government contracting officers at the federal level. Last time I checked there were 40,000 contracting officers. They have a lot of power. In the most recent year for which we have data, there were $750 billion in federal contracts. This is a substantial part of our economy. If you total state and local, we're talking almost 10% of our whole economy goes through government contracts. This is mind-boggling. In the public policy world, we should all be spending about 10% of our time thinking about contracting.One of the things I think everyone recognized is that contractors should have more authority. Some of the reform that happened with people like [Steven] Kelman — who was the Office of Federal Procurement Policy head in the ‘90s under Clinton — was, "We need to give these people more authority to just take a credit card and go buy a sheaf of paper if that's what they need. And we need more authority to get contract bids out appropriately.”The same message that animates civil service reform should animate these contracting discussions. The goal should be setting clear goals that you want — for either a civil servant or a contractor — and then giving that person the discretion to meet them. If you make the civil service more stultified, or make pay compression more extreme, you're going to have to contract more stuff out.People talk about the General Schedule [pay scale], but we haven't talked about the Federal Wage Schedule system at all, which is the blue-collar system that encompasses about 200,000 federal employees. Pay compression means those guys get paid really well. That means some managers rightfully think, "I'd like to have full-time supervision over some role, but I would rather contract it out, because I can get it a heck of a lot cheaper."There's a continuous relationship: If we make the civil service more stultified, we're going to push contracting out into more areas where maybe it wouldn't be appropriate. But a lot of things are always going to be appropriate to contract out. That means we need to give contracting officers and the people overseeing contracts a lot of discretion to carry out their missions, and not a lot of oversight from the Government Accountability Office or the courts about their bids, just like we shouldn't give OPM excess input into the civil service hiring process.This is a theme I keep harping on, on Statecraft. It's counterintuitive from a reformer's perspective, but it's true: if you want these processes to function better, you're going to have to stop nitpicking. You're going to have to ease up on the throttle and let people make their own decisions, even when sometimes you're not going to agree with them.This is a tension that's obviously happening in this administration. You've seen some clear interest in decentralization, and you've seen some centralization. In both the contract and the civil service sphere, the goal for the central agencies should be giving as many options as possible to the local managers, making sure they don't go extremely off the rails, but then giving those local managers and contracting officials the ability to make their own choices. The General Services Administration (GSA) under this administration is doing a lot of government-wide acquisition contracts. “We establish a contract for the whole government in the GSA. Usually you, the local manager, are not required to use that contract if you want computer services or whatever, but it's an option for you.”OPM should take a similar role. "Here's the system we have set up. You can take that and use it as you want. It's here for you, but it doesn't have to be used, because you might have some very particular hiring decisions to make.” Just like there shouldn't be one contracting decision that decides how we buy both a sheaf of computer paper and an aircraft carrier, there shouldn't be one hiring and firing process for a janitor and a nuclear physicist. That can't be a centralized process, because the very nature of human life is that there's an infinitude of possibilities that you need to allow for, and that means some amount of decentralization.I had an argument online recently about New York City's “buy local” requirement for certain procurement contracts. When they want to build these big public toilets in New York City, they have to source all the toilet parts from within the state, even if they're $200,000 cheaper in Portland, Oregon.I think it's crazy to ask procurement and contracting to solve all your policy problems. Procurement can't be about keeping a healthy local toilet parts industry. You just need to procure the toilet.This is another area where you see similar overlap in some of the civil service and contracting issues. A lot of cities have residency requirements for many of their positions. If you work for the city, you have to live inside the city. In New York, that means you've got a lot of police officers living on Staten Island, or right on the line of the north side of the Bronx, where they're inches away from Westchester. That drives up costs, and limits your population of potential employees.One of the most amazing things to me about the Biden Bipartisan Infrastructure Law was that it encouraged contracting officers to use residency requirements: “You should try to localize your hiring and contracting into certain areas.” On a national level, that cancels out. If both Wyoming and Wisconsin use residency requirements, the net effect is not more people hired from one of those states! So often, people expect the civil service and contracting to solve all of our ills and to point the way forward for the rest of the economy on discrimination, hiring, pay, et cetera. That just leads to, by definition, government being a lot more expensive than the private sector.Over the next three and a half years, what would you like to see the administration do on civil service reform that they haven't already taken up?I think some of the broad-scale layoffs, which seem to be slowing down, were counterproductive. I do think that their ability to achieve their ends was limited by the nature of the reduction-in-force regulations, which made them more counterproductive than they had to be. That's the situation they inherited. But that didn't mean you had to lay off a lot of people without considering the particular jobs they were doing now.And hiring quite a few of them back.Yeah. There are also debates obviously, within the administration, between DOGE and Russ Vought [director of the OMB] and some others on this. Some things, like the Schedule Policy/Career — which is the revival of Schedule F in the first Trump administration — are largely a step in the right direction. Counter to some of the critics, it says, “You can remove someone if they're in a policymaking position, just like if they were completely at-will. But you still have to hire from the typical civil service system.” So, for those concerned about politicization, that doesn't undermine that, because they can't just pick someone from the party system to put in there. I think that's good.They recently had a suitability requirement rule that I think moved in the right direction. That says, “If someone's not suitable for the workforce, there are other ways to remove them besides the typical procedures.” The ideal system is going to require some congressional input: it's to have a decentralization of hiring authority to individual managers. Which means the OPM — now under Scott Kupor, who has finally been confirmed — saying, "The OPM is here to assist you, federal managers. Make sure you stay within the broad lanes of what the administration's trying to accomplish. But once we give you your general goals, we're going to trust you to do that, including hiring.”I've mentioned it a few times, but part of the Chance to Compete Act — which was mentioned in one of Trump's Day One executive orders, people forget about this — was saying, “Implement the Chance to Compete Act to the maximum extent of the law.” Bring more subject-matter expertise into the hiring process, allow more discretion for managers and input into the hiring process. I think carrying that bipartisan reform out is going to be a big step, but it's going to take a lot more work. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.statecraft.pub

This may be the most important season in Texas State Football history. It's the Bobcats' last chance to win a Sun Belt title, their last chance to beat Louisiana as a conference foe, and the year that will define how they enter the Pac-12.So here's the question: if Texas State goes 8–4, is that enough to reach the Sun Belt Championship?In this episode of Wizard Wednesday, we break it down:The unfinished business Texas State needs to settle before leaving the Sun BeltHow our season prediction from Monday sets the stage for this discussionWhat records it has historically taken to make the Sun Belt title gameAnd finally, the big question — does Texas State have to reach the championship game for 2025 to be considered a success?Bobcat fans — what do you think? Does 8–4 get us in, or does this team need more? Drop your take in the comments.Thumbnail Photos Courtesy Texas State Football Intro/Outro Music: Also Sprach Zarathustra recorded and conducted by @officialphilman.#TexasStateFootball #TXST #CollegeFootball

BC & Beck discuss the upcoming move to the Sun Belt, breakdown Tech's 2025 football schedule, and chat with LA Tech AD Ryan Ivey in studio. 

In Redefining the Immigrant South: Indian and Pakistani Immigration to Houston During the Cold War (University of North Carolina Press), Uzma Quraishi (Sam Houston State University) follows the Cold War-era journeys of South Asian international students from U.S. Information Service reading rooms in India and Pakistan, to the halls of the University of Houston, to the suburban subdivisions of Alief and Sugar Land. This student migration between 1960 and 1980 shows how public diplomacy programs overseas catalyzed the arrival of highly educated, middle-class Asians in the U.S. before the Hart-Celler Act of 1965. Drawing on archival documents, GIS data, and oral interviews, Quraishi investigates how Indian and Pakistani immigrants forged an “interethnic” identity in Houston and located themselves—both socially and geographically—in the midst of a booming yet segregated Sunbelt city. She conceptualizes their mobility as “brown flight,” a process that simultaneously strengthened ethnic bonds even as it reinforced racial and class barriers. By exploring the links between international and local scales, Redefining the Immigrant South will interest scholars from many fields, including Asian American history; histories of the U.S. South, immigration, and U.S. foreign relations; and sub/urban studies. Ian Shin is assistant professor of History and American Culture at the University of Michigan. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

In Redefining the Immigrant South: Indian and Pakistani Immigration to Houston During the Cold War (University of North Carolina Press), Uzma Quraishi (Sam Houston State University) follows the Cold War-era journeys of South Asian international students from U.S. Information Service reading rooms in India and Pakistan, to the halls of the University of Houston, to the suburban subdivisions of Alief and Sugar Land. This student migration between 1960 and 1980 shows how public diplomacy programs overseas catalyzed the arrival of highly educated, middle-class Asians in the U.S. before the Hart-Celler Act of 1965. Drawing on archival documents, GIS data, and oral interviews, Quraishi investigates how Indian and Pakistani immigrants forged an “interethnic” identity in Houston and located themselves—both socially and geographically—in the midst of a booming yet segregated Sunbelt city. She conceptualizes their mobility as “brown flight,” a process that simultaneously strengthened ethnic bonds even as it reinforced racial and class barriers. By exploring the links between international and local scales, Redefining the Immigrant South will interest scholars from many fields, including Asian American history; histories of the U.S. South, immigration, and U.S. foreign relations; and sub/urban studies. Ian Shin is assistant professor of History and American Culture at the University of Michigan. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/sociology

In Redefining the Immigrant South: Indian and Pakistani Immigration to Houston During the Cold War (University of North Carolina Press), Uzma Quraishi (Sam Houston State University) follows the Cold War-era journeys of South Asian international students from U.S. Information Service reading rooms in India and Pakistan, to the halls of the University of Houston, to the suburban subdivisions of Alief and Sugar Land. This student migration between 1960 and 1980 shows how public diplomacy programs overseas catalyzed the arrival of highly educated, middle-class Asians in the U.S. before the Hart-Celler Act of 1965. Drawing on archival documents, GIS data, and oral interviews, Quraishi investigates how Indian and Pakistani immigrants forged an “interethnic” identity in Houston and located themselves—both socially and geographically—in the midst of a booming yet segregated Sunbelt city. She conceptualizes their mobility as “brown flight,” a process that simultaneously strengthened ethnic bonds even as it reinforced racial and class barriers. By exploring the links between international and local scales, Redefining the Immigrant South will interest scholars from many fields, including Asian American history; histories of the U.S. South, immigration, and U.S. foreign relations; and sub/urban studies. Ian Shin is assistant professor of History and American Culture at the University of Michigan. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/south-asian-studies

In Redefining the Immigrant South: Indian and Pakistani Immigration to Houston During the Cold War (University of North Carolina Press), Uzma Quraishi (Sam Houston State University) follows the Cold War-era journeys of South Asian international students from U.S. Information Service reading rooms in India and Pakistan, to the halls of the University of Houston, to the suburban subdivisions of Alief and Sugar Land. This student migration between 1960 and 1980 shows how public diplomacy programs overseas catalyzed the arrival of highly educated, middle-class Asians in the U.S. before the Hart-Celler Act of 1965. Drawing on archival documents, GIS data, and oral interviews, Quraishi investigates how Indian and Pakistani immigrants forged an “interethnic” identity in Houston and located themselves—both socially and geographically—in the midst of a booming yet segregated Sunbelt city. She conceptualizes their mobility as “brown flight,” a process that simultaneously strengthened ethnic bonds even as it reinforced racial and class barriers. By exploring the links between international and local scales, Redefining the Immigrant South will interest scholars from many fields, including Asian American history; histories of the U.S. South, immigration, and U.S. foreign relations; and sub/urban studies. Ian Shin is assistant professor of History and American Culture at the University of Michigan.

In Redefining the Immigrant South: Indian and Pakistani Immigration to Houston During the Cold War (University of North Carolina Press), Uzma Quraishi (Sam Houston State University) follows the Cold War-era journeys of South Asian international students from U.S. Information Service reading rooms in India and Pakistan, to the halls of the University of Houston, to the suburban subdivisions of Alief and Sugar Land. This student migration between 1960 and 1980 shows how public diplomacy programs overseas catalyzed the arrival of highly educated, middle-class Asians in the U.S. before the Hart-Celler Act of 1965. Drawing on archival documents, GIS data, and oral interviews, Quraishi investigates how Indian and Pakistani immigrants forged an “interethnic” identity in Houston and located themselves—both socially and geographically—in the midst of a booming yet segregated Sunbelt city. She conceptualizes their mobility as “brown flight,” a process that simultaneously strengthened ethnic bonds even as it reinforced racial and class barriers. By exploring the links between international and local scales, Redefining the Immigrant South will interest scholars from many fields, including Asian American history; histories of the U.S. South, immigration, and U.S. foreign relations; and sub/urban studies. Ian Shin is assistant professor of History and American Culture at the University of Michigan. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/american-south

Preview Conference: ACC, BigXII, Mountain West, MAC, C-USA e Sun Belt

Austin (@devydeets) & Colin (@C2CDecker) cover some recent news before discussing the teams from the Mountain West and Sun Belt Conferences

In this episode of The Distribution, host Brandon Sedloff sits down with rental housing economist Jay Parsons for a wide-ranging discussion on the state of the rental housing market. Jay shares his path into the industry during the aftermath of the financial crisis, explains why he chose to specialize deeply in rental housing, and outlines the unique dynamics shaping apartments, single-family rentals, and build-to-rent communities today. Together, they explore current market challenges, long-term tailwinds, and the opportunities that lie ahead for investors and operators alike. They discuss:  * The origins of Jay's career and his focus on rental housing economics * Key differences between ownership-driven housing commentary and true rental housing analysis * Glass half full versus half empty perspectives on today's market, from high supply and rates to affordability and demographics * The convergence of multifamily, single-family rentals, and build-to-rent under one rental housing umbrella * Migration and demographic trends driving demand across the Sunbelt, mountain metros, and emerging tertiary markets * Investor strategies shifting from short-term flips to long-term value creation and operational excellence * How technology and AI are reshaping leasing, resident experience, and customer service in rental housing * The most important data points to track over the next cycle: supply and demand This episode offers clear insights for investors, operators, and anyone looking to understand the forces shaping the future of rental housing. Links: Jay on LinkedIn - https://www.linkedin.com/in/jay-parsons-a7a6656/ Jay's website - https://jayparsons.com/ Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/ Juniper Square - https://www.junipersquare.com/ Topics: (00:00:00) - Intro (00:02:02) - Jay's background and career (00:12:50) - What are the good things happening in rental housing right now? (00:15:20) - Categories of rental housing that Jay covers (00:18:46) - What should investors be focused on if they want to increase their allocations in apartments over the next 3-10 years? (00:26:12) - Formats of new builds (00:29:16) - Migration trends (00:37:06) - Rental housing pipelines (00:40:20) - Capitalization trends (00:42:42) - Multifamily fundamentals over a cycle (00:45:04) - Drivers of the BTF and SFR market (00:48:06) - Creating alpha in a multifamily portfolio (00:51:41) - What to look for in a great operator (00:53:06) - Technology and AI application trends (00:56:19) - What is one data point everyone should be paying attention to?

Host Carter Yates and senior writer Mike Craven welcome on Colton McWilliams, the sports editor at the San Marcos Daily Record, to preview Texas State's 2025 season. (:30 – 2:00) Why the final year in the Sun Belt is the biggest storyline for 2025? (2:00 – 4:00) How does Colton rank the roster talent in 2025 to GJ Kinne's first two seasons? (4:00 – 6:25) Who does Colton think will win the QB battle? Are people not making a big enough deal about losing OC Mack Leftwich? (6:25 – 8:00) Colton's offensive breakout candidates (8:00 – 10:30) What does the TXST RB room look like behind Lincoln Pare? Can the OL still be a strength? (10:30 – 11:10) Colton's Preseason Defensive MVPs (11:10 – 12:30) Why Colton has the most questions about the secondary (12:30 – 14:20) LB room (14:20 – 21:00) What needs to happen for TXST to make the jump from bowl team to conference champion contender? What are TXST fans frustrated about? How much of the lack of consistency can be attributed to growing pains from a young staff? (21:00 – 25:00) Is GJ Kinne a victim of his own early success? (25:00 – 27:30) How important is an exit ramp of success to the Pac-12? (27:30 – 29:00) What is Colton's record prediction? (29:00 – END) Texas State vs UTSA review and preview Learn more about your ad choices. Visit megaphone.fm/adchoices

Join Jordan, Commish, Pitt Girl, Big Sky Bright and special guest Dusty aka Thibs from Warhawk Report, along with our VP of Podcast Production Arthur. Jordan says goodbye to the World Games, we apologize for our errors to our loving Cal fans, a Heinz Ketchup Smoothie?, Mashall Islands soccer, VMI Keydets new Kangaroo logo, we preview Week 0, OMG WE GOT FOOTBALL SOON, then we do the SUPER SICKO SPINNING SELECTION SEASON PREVIEW FORECAST: SSSSSPF aka the 5SPF Mountain West and Sun Belt! A PORTION OF OUR INTERVIEW WITH HAWAII HEAD COACH TIMMY CHANG, the Utah State mascot as a Pokemon? Dear Lobos please use your Turquoise more, Laramie food options, Air Force pizza, ULM MENTIONED, Old Gus the Eagle, Ace the Warhawk without Teeth, actually have to break down Marshall and all their transfers, Lunch with a Ragin' Cajun and much, much more!!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

You know the athletics competition is heating up when it's a multi-guest episode! We begin by recapping the big opening week for the soccer team. Then, with football training camp in the rearview mirror, Bret and Adam provide their observations from last Saturday's scrimmage and get reaction from linebacker Jaelin Willis (26:10 mark). Finally, we get to know the newest head coaching hire in a conversation with John Michael Cole, who takes over with men's golf (42:23 mark). #DSOTDP See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Jimmy Ott & Paul Stone preview the 2025 College Football Season in the Group of 5 Conferences! They discuss their favorite conference winner futures, win total over/unders, and more! Will Boise State return to the College Football Playoff as the G5 representative? Jimmy & Paul dissect the American, MAC, Mountain West, Sun Belt, and Conference USA.

Reach out to Cody and Buhler to tell them what's up!Five is still technically bigger than four.On today's episode of False Start, John Buhler (Lead Writer, FanSided.com) and Cody Williams (Content Director, FanSided.com) drove it into the ditch with their Group of Five season preview.While the guys came to a handful of similar conclusions across the AAC, CUSA, MAC, Mountain West and Sun Belt, they are well aware that anything and everything can happen at this level of college football.Together, they picked who will win each league, who will be making the CFP, and what head coaches are destined for something even better than this?You've only got 100 years to live, so make the time for some False Start!

Independents (1:08)MWC (8:19)American (13:50)Sun Belt (18:03)MAC (20:51)CUSA (23:07)Pac-2 (24:10)

There is no housing market; there are housing markets. We all know that, but all too often forget. Now, as mortgage rates and increasing supply challenge the for-sale sector, rental supply has tapered from its peak, and that sector is firming. Moreover, dynamics vary, often markedly, depending on geography. The nation is dotted with dozens of rental markets that sum to a whole, but each has a different story. On this podcast, Chris Nebenzahl and Zak Nyberg join Dean Wehrli to weave us through the rental market maze. Chris is JBREC's Vice President of Rental Research, who keeps an eye on national trends. Zak is a Vice President of our consulting practice who has conducted rental feasibility work throughout the Sun Belt markets and up the Atlantic Seaboard. We cover supply and demand, rental trends, regional variations, amenities, the capital markets, and more in this episode. 

The boys are back for: - the John Mateer betting scandal - Jimbo Fisher's potential return to coaching - The preseason AP poll - Their breakdown the remaining Independents - Vibe check the Group of 6 and more!   Check out our socials: https://linktr.ee/QuadGate 1:27 Bringing the podcast to new heights 10:06 John Mateer's gambling scandal and Venmo 20:51 Andy Staples' college football blue bloods list 31:25 AP Poll rankings 25-13 discussion 37:37 Top 12 AP Poll rankings analysis 46:28 Group of Six conference team vibes 54:54 Mountain West conference team assessments 1:02:10 Sun Belt conference team evaluations 1:07:51 Recent FCS to FBS program transitions

As the App State soccer team kicks off the 2025-2026 athletics season, we visit with sophomore defender Sydney Snowden (15:28 mark). Plus, Bret and Adam bring their usual shenanigans like the 2020 football game against ULM and PS2 video games. #DSOTDPSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Griffin Warner and Lonte Smith talk College Football Group of Five betting. 0:05 – 0:31 Opening motivational speech emphasizing speed, defensive swarming, and physical dominance — “Out-block, out-tackle, out-hit, out-hustle” — with a repeated call to “leave no doubt tonight.” 0:31 – 1:19 Griffin Warner Introduces the College Football Podcast episode focusing on Group of Five teams, following a prior episode on the Power Four. Announces a promo code and a college football contest, noting the goal is to identify season-long betting opportunities. Date: Tuesday, 1:45 – 2:33 Griffin Warner Explains that Group of Five games offer strong betting opportunities. Begins with Army (West Point) win total: Over 7.5 at +110, Under 7.5 at -140 on BetOnline. 2:35 – 4:41 Lonte Smith — Army Analysis 2023 Recap: 12–2, AAC champions, led by QB Bryson Daly (dark horse Heisman) and RB Kanye Udo. Losses: Daly to graduation, Udo to Arizona State, two Joe Moore Award-winning offensive tackles, best defensive player to Georgia. Returning Talent: Six of top ten tacklers; LB corps Miller & Thomas praised. Concerns: Offensive drop-off, new OL coach, challenging schedule (Tulane, UTSA, Navy, Air Force). Projection: 7–5 ceiling, 6–6 floor → leans Under 7.5. 4:41 – 6:08 Griffin Warner & Lonte Smith — Schedule Talk Army's 2024 slate includes K-State, North Texas, Tulane, Air Force, Navy (in Baltimore). Lonte favors Navy among service academies, citing better returning production and depth. 7:16 – 14:52 Western Kentucky (C-USA) Odds: Over 7.5 (-125), Under 7.5 (-105). 2023: 8–6 record. Roster: Only 3 starters return (1 offense, 2 defense). Poor 2023 rush defense (224 YPG). Key Additions: QB Maverick McIver (Abilene Christian, 3,500+ yds, 37 TDs), OC Rick Bowie (former Abilene OC). WR Matt Henry (1,100+ yds at Western Illinois). Concerns: OL continuity, defensive holes, rush defense. Schedule: Winnable home games; road tests at Toledo, Delaware, Missouri State. Projection: ~8.6 wins → leans Over 7.5. 15:43 – 20:22 Bowling Green (MAC) Odds: Over 6.5 (+200), Under 6.5 (-260). 2023: 7–6 (6–2 MAC). Changes: New HC Eddie George; ranked 130th in returning production; offense loses top TE hero Fanning (drafted by Browns). Defense: Loses 13 of top 15 tacklers but adds FCS standouts (including Eddie George's son). Schedule: Lafayette, Cincinnati, Liberty, Louisville early; Toledo and Buffalo at home. Projection: Depth concerns, brutal early stretch → Under (expects ~4–8). 20:53 – 25:10 Air Force (MWC) Odds: Over/Under 6.5 (-115). 2023: 5–7 after starting 1–7, finished on 4-game win streak. Roster: 9 returning starters (6 offense, 3 defense). QB battle (Johnson favored). OL returns 3 starters plus 2 with experience. Defense: Allowed 23 PPG; DL led by Peyton Zurch. Schedule: Bucknell, Boise, Navy, Wyoming, Army, UNLV, SJSU, UConn. Projection: Manageable slate, strong finish expected → Over 6.5 (7–8 wins). 25:38 – 31:06 Georgia Southern (Sun Belt) Odds: Over 7.5 (+130), Under (-160). 2023: 8–5. Roster: 10 starters return (5 offense, 5 defense). QB J.C. French (2,500+ yds, 17 TDs, 11 INTs, 66% comp). Deep WR corps; strong OL with most combined starts in Sun Belt. Defense: Needs rush D improvement; strong secondary led by Chance Gamble. Schedule: Fresno, USC, Jacksonville State, JMU, Coastal, ODU, Marshall. Projection: Favors in most conference games except JMU → Over 7.5 (floor 8 wins). 31:07 – 38:35 Playoff/Long-shot Discussion No strong playoff contenders from teams covered; JMU strong but blocked by JMU matchup for Georgia Southern. Boise State (2–1 to make playoffs) downgraded without RB Ashton Jeanty. Long-shot pick: South Florida (33–1) if QB Byron Brown stays healthy; avoid betting until after tough Miami/Florida stretch. 38:36 – End Best Bet: Army Under 7.5 wins. Rationale: Loss of QB, RB, two elite tackles, new OL coach, tough schedule, regression from 12–2 2023 season. Learn more about your ad choices. Visit megaphone.fm/adchoices

Griffin Warner and Lonte Smith talk College Football Group of Five betting. 0:05 – 0:31 Opening motivational speech emphasizing speed, defensive swarming, and physical dominance — “Out-block, out-tackle, out-hit, out-hustle” — with a repeated call to “leave no doubt tonight.” 0:31 – 1:19 Griffin Warner Introduces the College Football Podcast episode focusing on Group of Five teams, following a prior episode on the Power Four. Announces a promo code and a college football contest, noting the goal is to identify season-long betting opportunities. Date: Tuesday, 1:45 – 2:33 Griffin Warner Explains that Group of Five games offer strong betting opportunities. Begins with Army (West Point) win total: Over 7.5 at +110, Under 7.5 at -140 on BetOnline. 2:35 – 4:41 Lonte Smith — Army Analysis 2023 Recap: 12–2, AAC champions, led by QB Bryson Daly (dark horse Heisman) and RB Kanye Udo. Losses: Daly to graduation, Udo to Arizona State, two Joe Moore Award-winning offensive tackles, best defensive player to Georgia. Returning Talent: Six of top ten tacklers; LB corps Miller & Thomas praised. Concerns: Offensive drop-off, new OL coach, challenging schedule (Tulane, UTSA, Navy, Air Force). Projection: 7–5 ceiling, 6–6 floor → leans Under 7.5. 4:41 – 6:08 Griffin Warner & Lonte Smith — Schedule Talk Army's 2024 slate includes K-State, North Texas, Tulane, Air Force, Navy (in Baltimore). Lonte favors Navy among service academies, citing better returning production and depth. 7:16 – 14:52 Western Kentucky (C-USA) Odds: Over 7.5 (-125), Under 7.5 (-105). 2023: 8–6 record. Roster: Only 3 starters return (1 offense, 2 defense). Poor 2023 rush defense (224 YPG). Key Additions: QB Maverick McIver (Abilene Christian, 3,500+ yds, 37 TDs), OC Rick Bowie (former Abilene OC). WR Matt Henry (1,100+ yds at Western Illinois). Concerns: OL continuity, defensive holes, rush defense. Schedule: Winnable home games; road tests at Toledo, Delaware, Missouri State. Projection: ~8.6 wins → leans Over 7.5. 15:43 – 20:22 Bowling Green (MAC) Odds: Over 6.5 (+200), Under 6.5 (-260). 2023: 7–6 (6–2 MAC). Changes: New HC Eddie George; ranked 130th in returning production; offense loses top TE hero Fanning (drafted by Browns). Defense: Loses 13 of top 15 tacklers but adds FCS standouts (including Eddie George's son). Schedule: Lafayette, Cincinnati, Liberty, Louisville early; Toledo and Buffalo at home. Projection: Depth concerns, brutal early stretch → Under (expects ~4–8). 20:53 – 25:10 Air Force (MWC) Odds: Over/Under 6.5 (-115). 2023: 5–7 after starting 1–7, finished on 4-game win streak. Roster: 9 returning starters (6 offense, 3 defense). QB battle (Johnson favored). OL returns 3 starters plus 2 with experience. Defense: Allowed 23 PPG; DL led by Peyton Zurch. Schedule: Bucknell, Boise, Navy, Wyoming, Army, UNLV, SJSU, UConn. Projection: Manageable slate, strong finish expected → Over 6.5 (7–8 wins). 25:38 – 31:06 Georgia Southern (Sun Belt) Odds: Over 7.5 (+130), Under (-160). 2023: 8–5. Roster: 10 starters return (5 offense, 5 defense). QB J.C. French (2,500+ yds, 17 TDs, 11 INTs, 66% comp). Deep WR corps; strong OL with most combined starts in Sun Belt. Defense: Needs rush D improvement; strong secondary led by Chance Gamble. Schedule: Fresno, USC, Jacksonville State, JMU, Coastal, ODU, Marshall. Projection: Favors in most conference games except JMU → Over 7.5 (floor 8 wins). 31:07 – 38:35 Playoff/Long-shot Discussion No strong playoff contenders from teams covered; JMU strong but blocked by JMU matchup for Georgia Southern. Boise State (2–1 to make playoffs) downgraded without RB Ashton Jeanty. Long-shot pick: South Florida (33–1) if QB Byron Brown stays healthy; avoid betting until after tough Miami/Florida stretch. 38:36 – End Best Bet: Army Under 7.5 wins. Rationale: Loss of QB, RB, two elite tackles, new OL coach, tough schedule, regression from 12–2 2023 season. Learn more about your ad choices. Visit megaphone.fm/adchoices

The boys are back once again with Goldie to breakout the Funbelt and Mountain West!  The two best leagues in the country and headlined by a pair of big favorites, but who has value a little down the board?

Active housing inventory in 80 of the 200 largest U.S. metro areas has returned to or surpassed pre-pandemic 2019 levels, primarily in the Sun Belt, where builders are offering price reductions and incentives to maintain sales. These regions, which experienced significant growth during the pandemic, now see increased supply and more negotiating power for buyers. In contrast, the Midwest and Northeast maintain tight inventory and stable prices due to less new construction and lower migration. Markets with higher inventory have seen weaker or declining home price growth, while areas with low inventory continue to experience stronger price gains.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The Rust Belt is heating up while the Sun Belt cools down. In today's episode, we break down Redfin's latest metro-level housing market rankings, revealing that cities like Milwaukee, Chicago, and Philadelphia are outperforming the national market with rising sales and prices. Meanwhile, boomtowns like Las Vegas, Sacramento, and Miami are slowing fast as inventory surges and buyers gain leverage. Learn more about your ad choices. Visit megaphone.fm/adchoices

Mississippi State will see a new look USM team in week one. They are not the same team that went 1-11 and they are not the Marshall team that won the Sunbelt. Support this podcast at — https://redcircle.com/the-boneyard/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

On poursuit nos previews 2025 avec notre présentation complète de la conférence la plus « Fun » du Group of Five : la Sun Belt. Grégory Richard et Morgan Lagrée vous présentent le Thundering Herd de Marshall et l'ensemble des 14 programmes de la conférence Sun Belt. Au programme : - Tour d'horizon des deux divisions et des 14 programmes de la conférence Sun Belt. - Hot seat : quel coach de la Sun Belt est le plus menacé ? - Nos prédictions. Bonne écoute !

On today's Winning Cures Everything, Gary breaks down ULM's possible drop to FCS and how it could impact Sun Belt expansion. Paul Finebaum says the Coaches Poll may be rigged for a Week 1 matchup—Gary gives his reaction and power ratings. LSU fans may be turning on Brian Kelly, GameDay could visit SMU or Illinois for the first time, and Georgia-Georgia Tech is no longer clean, old-fashioned hate.College football chaos never stops.

Michael Henchy is an Assistant Coach for Penn State Women's Volleyball, entering his second season after helping lead the team to a national championship in 2024. He previously served as Associate Head Coach at James Madison, guiding them to NCAA Tournament appearances and a Sun Belt title. Henchy has also coached at American University and Springfield College, where he won AVCA Division III Assistant Coach of the Year in 2019.As a player, he was a standout at Ohio State University, a two-year captain, and later played professionally in Greece. He holds a bachelor's in communications from Ohio State and a master's in coaching from Springfield College. Henchy brings strong leadership, player development skills, and championship experience to the Penn State program.

This episode is brought to you by https://www.ElevateOS.com —the only all-in-one community operating system.Let's kick off August with clarity and confidence.In today's episode, Mike Brewer brings you the top five headlines that matter most in Multifamily, plus a fun fact that'll win you trivia points: the Empire State Building has its own zip code—10118.But let's get serious.Here's what's moving the needle in our industry right now:Rent Growth Slows Nationwide – Affordability is the new friction. Yardi Matrix data shows Sunbelt markets softening while the Midwest holds the line.Construction Starts Dip 8% – Input costs are cooling projects. Could this be the reset overbuilt markets like Austin and Atlanta need?Built-to-Rent Booms in Atlanta – 4,000 BTR units are in the pipeline. This isn't just a trend; it's a movement.Cap Rates Rise, Transactions Still Stalled – We're in the messy middle. Buyers wait, sellers hold, and lenders delay the day of reckoning.Vertical Integration Wins – Firms with end-to-end control—from acquisition to operations—are outpacing pure-play third-party managers.This isn't noise. This is signal.

Kickoff in Charlotte is just weeks away, so Bret and Adam took the opportunity to visit with Miller Yoho from the Charlotte Sports Foundation (12:11 mark) to discuss all the burning (and mayo-related) questions surrounding the season opener at Bank of America Stadium. #DSOTDPSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Calm on the Surface, Distress Below: Joe Blackbourn on the State of Sunbelt Multifamily   The Eye of the Storm? When my podcast guest this week, Joe Blackbourn, president and founder of Everest Holdings, stepped in front of a room of ULI members in late 2024, he titled his multifamily market forecast “An Underdressed Weatherman Gets Sent Into a Hurricane.”   The image was evocative – and accurate. Multifamily investors, developers, and lenders had been navigating gale-force winds of rising rates, inflation shocks, and structural cost resets. And yet, as Blackbourn noted in my conversation with him, today the industry still appears eerily calm.   “There's a lot of stormy weather on the horizon, and, like a hurricane, we don't know quite where it's going to land or how bad it's going to be.”   The Invisible Cost of ‘Calm' Core inflation may be retreating, but the real story, Blackbourn argues, is not about the rate of change. It's about the baseline shift.   “Even if we're at just over 2% now, it's still a 30% increase in a very short period of time,” he said, referring to food prices, but with implications for housing as well. Home prices in many U.S. markets, particularly across the Sunbelt, have surged by 30–50% since 2020. That repricing is likely to stick.   “It's really difficult to give that pricing back,” he added. “Short of some real economic calamity, the best we can manage is slower growth, not a decline in consumer pricing.”   That same principle is locking up real estate deals. Rent growth has slowed, but operating expenses have not. The result is compressed margins, sluggish NOI, and a widespread inability to transact or refinance.   Multifamily: Where Distress Hides Quietly On paper, the multifamily sector looks surprisingly stable. Cap rates for high-quality assets remain in the 5.0%–5.25% range, and transaction volume is beginning to pick up in select markets. But beneath the surface, stress is mounting.   “There's a lot of stress at the balance sheet level,” said Blackbourn. “And it's not being helped by property-level performance.”   In many Sunbelt markets, especially those with pandemic-era construction booms, organic NOI growth is flat or negative. Rent collection is delayed, staffing is inconsistent, and delinquencies are rising.   “We're seeing situations where it's taking all month to get the rents collected,” he noted. “You'd be at the 15th of the month with less than 50% of rents in the door.”   Yet distress sales remain rare. Why? Blackbourn offers two reasons: Lender tactics: Debt funds are “hope-certificating” properties, granting extensions, persuading sponsors to inject capital, and delaying the inevitable. Human psychology: “There's a survival instinct at work,” he observed. “People will do whatever they can to stay in the game.” What Keeps Deals Frozen? Everyone is waiting. Borrowers, lenders, and investors are all betting on falling interest rates to solve their problems. But Blackbourn remains skeptical.   “I don't think it's inevitable that rates come down,” he said. “And yet, it's within the debt fund's interest to persuade borrowers that they will.”   Many current valuations are premised on that hope. But even if rates do drop, the bid-ask spread remains wide. In his words, “It feels like this really taut balloon; fragile.”   Why Aren't Cap Rates Rising Faster? One of the stranger dynamics in today's market is that cap rates haven't risen much, despite the Fed holding policy rates above 5%. High-quality assets are still trading at 5%–5.25% caps. How is that possible?   “If you have the right basis, you can sell into that,” Blackbourn explained. “The pricing for high-quality assets hasn't jumped that much.”   But for vintage assets, pricing capitulation is coming. Lenders are forcing assets to market when no other solutions are viable. And while buyers are circling, few are pouncing.   Supply, Demand, and the Surprise of Absorption Another surprise: absorption is holding up remarkably well.   “We're seeing absorption that's about keeping up with supply,” Blackbourn noted. “In some markets, we're about to hit the point where we're absorbing more units than we're adding.”   This matters. Historically, once net absorption overtakes new deliveries, rents begin to recover, often before occupancy hits 95%. And that could happen sooner than expected in markets like Phoenix.   “We're modeling that inflection point this year,” he said.   But again, bifurcation matters. New Class A developments are attracting high-income renters,  people who once would have bought homes. Meanwhile, vintage B and C properties are seeing tenants who are increasingly rent-burdened.   “In new projects, we're seeing a higher-income demographic than we've ever seen,” said Blackbourn. “But in older assets, collections are way down. Rents are up 30%, but incomes aren't.”   The Forecast: Q3 and Q4 2025 Looking ahead to the rest of the year, Blackbourn sees a mixed bag. More volume is expected from both opportunistic buyers and forced sellers. Permits are collapsing, setting up an eventual rebound in pricing power. Selective outperformers will emerge in submarkets with favorable rent-to-income ratios. “We could see surprising outperformance in the asset class sooner than people think,” he said. “But it will be bifurcated by quality, by tenant income, and by geography.”   In short, the underdressed weatherman may not be in the eye of the storm just yet – but the wind is shifting.

Texas State head coach G.J. Kinne opens up about navigating the NIL-driven era—how he manages the transfer portal, builds relationships to retain talent, and readies his program for big changes. With the Bobcats still in the Sun Belt for the 2025 season before their official launch in the Pac‑12 in 2026, Coach Kinne discusses the $5 million buyout, recruiting momentum, and why continuity matters more than ever. A candid breakdown of leadership, loyalty, and preparing for the next chapter in Texas State football. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is a free preview of a paid episode. To hear more, visit www.splitzoneduo.comLeave us a voicemail telling us why you love college football. Details are at www.splitzoneduo.com. In this show, Alex and Richard take a bunch of subscriber questions in the run-up to the season, with an early focus on realignment matters:* The Athletic reported that despite a desperate financial offer, Memphis has not gotten traction in its effort to join the Big 12. Why not?* Why was Louisiana Tech, which isn't very good, a good backfilling candidate for the Sun Belt after Texas State joined the Pac-12?* What do we make of conferences (the American and Big 12 so far) doing away with preseason media polls?* What do we make of Tulane's addition of former BYU QB Jake Retzlaff?* Do we have any Week 1 game travel plans? (Richard does.)* Should Maryland fans be worried about the prospect of their school getting left out in future realignment? (This question could apply to lots of Big Ten and SEC schools.)* Why did a story about Catapult video footage access go so quiet?* Which is the deepest P4 conference for QB depth in 2025?* How are our video game dynasty builds going?Producer: Anthony Vito

Keith highlights the decline in college town real estate due to demographic changes and reduced international student enrollment.  The national housing market is moving towards balance, with 4.6 months of resale supply and 9.8 months of new build supply.  Commercial real expert and fellow podcast host, Hannah Hammond, joins Keith to discuss how the state of the real estate market is facing a $1 trillion debt reset in 2025, potentially causing distress and foreclosures, particularly in the Sun Belt states.  Resources: Follow Hannah on Instagram  Show Notes: GetRichEducation.com/563 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 college towns doomed. There's a noticeably higher supply of real estate on the market. Today is get rich education. America's number one real estate investing show. Then how much worse will the Apartment Building Loan implosions get today? On get rich education.   Speaker 1  0:27   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:12   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  1:28   Welcome to GRE from Orchard Park, New York to port orchard, Washington and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education. How most people set up their life is that they have a job or an income producing activity, and they put that first, then they try to build whatever life they have left around that job. Instead, you are in control of your life when you first ask yourself, what kind of lifestyle Am I trying to build? And then you determine your job based on that. That is lifestyle design, and that is financial freedom, most people, including me, at one time. And probably you get that wrong and put the job first. And then we need to reverse it once you realize that, you discover that you found yourself so far out of position that you try to find your way back by putting your own freedom, autonomy and free agency first. There you are lying on the ground, supine, feeling overwhelmed, asking yourself why you didn't put yourself first. Then what I'm helping you do here is get up and change that by moving your active income over to relatively passive income, and doing it through the most generationally proven vehicle of them all, real estate investing for income. We are not talking about a strategy that didn't exist three years ago and won't exist three years from now. It is proven over time, and there's nothing avant garde or esoteric here, and you can find yourself in a financially free position within five years of starting to gradually shift that active income over to passive income.    Keith Weinhold  3:29   Now, when it comes to today's era of long term real estate investing, we are in the midst of a real estate market that I would describe as slow and flat. Both home price appreciation and rent growth are slow. Overall real estate sales volume is still suppressed. It that sales volume had its recent peak of six and a half million homes moved in 2021 which was a wild market, it was too brisk and annual sales volume is down to just 4 million. Today, more inventory is accumulating, which is both a good news and a bad news story. I'm going to get to this state of the overall market shortly. First, let's discuss real estate market niches, a particular niche, because two weeks ago, I discussed the short term rental arms race. Last week, beach towns and this week, in the third of three installments of real estate market niches are college towns doomed? Does it still make sense to invest in college town real estate? Perhaps a year ago on the show, you'll remember that I informed you that a college closes every single week in the United States. Gosh, universities face an increasingly tough demographic backdrop ahead. We know more and more people get a free education. Education online. Up until now, universities have tapped a growing high school age population in this seemingly bottomless well of international students wanting to study in the US. But America's largest ever birth cohort, which was 4.3 million in 2007 is now waning. Yeah, that's how many Americans were born in 2007 and that was the all time record birth year. Well, all those people turn 18 years old this year. This, therefore, is an unavoidable decline in the pool of potential incoming college freshmen from the United States. And on top of that, the real potential of fewer international students coming to the US to study adds to the concern for colleges. This is due to the effects and the wishes of the Trump administration. It already feels like a depression in some college towns now among metro areas that are especially reliant on higher education, three quarters of them suffered weaker economic growth over the past 12 years than the US has as a whole. That's according to a study at Brookings Metro. They're a non profit think tank in DC, all right, and in the prior decade, all right, previous to that, most of those same metros grew faster than the nation did. If this was really interesting, a recent Wall Street Journal article focused on Western Illinois University in McComb Illinois as being symbolic of this trend, where an empty dorm that once held 800 students has now been converted to a police training ground, it's totally different, where there are active shooter drills and all this overturned furniture rubber tipped bullets and paintball casings, you've got to repurpose some of these old dorms. Nearby dorms have been flattened and they're now weedy fields. Two more dorms are set to close this summer. Frat houses and homes once filled with student renters are now empty lots city streets used to be so crowded during the semester that cars moved at a crawl. That's not happening anymore. It's almost like you're watching the town die, said a resident who was born in Macomb and worked 28 years for the Western Illinois Campus Police Department. Macomb, Illinois is at the heart of a new rust belt across the US colleges are faltering, and so are the once booming towns and economies around them. Enrollment is down at a lot of the nation's public colleges and universities starting next year due to demographics like I mentioned, there will be fewer high school graduates for the foreseeable future, and the fallout extends to downtown McComb. It's punishing local businesses. There's this multiplier effect that's diminishing. It's not multiplying for generations. Colleges around the US fueled local economies, created jobs and brought in students and their visiting families to shop and spend and growing student enrollment fattened school budgets, and that used to free universities from having to worry about inefficiencies or cutting costs. But the student boom has ended, and college towns are suffering. And what are some of the other reasons for these doomed college towns? Well, first, a lot of Americans stopped having babies after the global financial crisis, you've got a strong dollar and an anti foreigner administration that's likely to push international student numbers down on top of this, and then, thirdly, US students are more skeptical of incurring these large amounts of debt for college and then, universities have been increasing administrative costs and tuition above the rate of inflation, and they've been doing that for decades. Tuition and operating costs are detached from reality, and in some places, student housing is still being built like the gravy train is not going to end. I don't see how this ends well for many of these universities or for student housing, so you've really got to think deeply about investing in college town housing anymore. Where I went to college, in Pennsylvania, that university is still open, but their enrollment numbers are down, and they've already closed and consolidated a number of their outlying branch campuses. Now it's important notice that I'm focused on college towns, okay, I'm talking about generally, these small. Smaller, outlying places that are highly dependent on colleges for their vibrancy. By the way, Pennsylvania has a ton of them, all these little colleges, where it seems like every highway exit has the name of some university on it. That is starting to change now.    Keith Weinhold  10:21   Conversely, take a big city like Philadelphia that has a ton of colleges, Temple University, Penn, which is the Ivy League school, St Joseph's, Drexel LaSalle, Bryn Mawr, Thomas Jefferson, Villanova. All these colleges are in the Philly Metro, and some of them are pretty big. Well, you can be better off investing in a Philly because Philly is huge, 6 million people in the metro, and there's plenty of other activity there that can absorb any decline in college enrollment. So understand it's the smaller college town that's in big trouble. And I do like to answer the question directly, are college towns doomed? Yes, some are. And perhaps a better overall answer than saying that college towns are doomed, is college towns have peaked. They've hit their peak and are going down.    Keith Weinhold  11:23   Let's talk about the direction of the overall housing market now, including some lessons where, even if you're listening 10 years from now, you're going to gain some key learning. So we look at the national housing market. There is finally some buyer selection again, resale housing supply is growing. I'm talking overall now, not about the college towns. Back in 2022, nearly every major metro could be considered not just a seller's market, but a strong seller's market. And it was too much. It was wild. Three years ago, buyers had to, oftentimes offer more than the asking price, pay all cash. Buyers had to waive contingencies, forgo inspections, and they had to compete with dozens of bidders. I mean, even if you got a home inspection, you pray that the home inspector didn't find anything worse than like charming vintage wiring, because you might have been afraid to ask for some repairs of the seller, and that's because the market was so hot and competitive that you might lose the deal. Fast forward to today, and fewer markets Hold that strong seller's market status. More metros have adequate inventory. And if you're one of our newsletter subscribers, you saw that last week, I sent you a great set of maps that show this. As you probably know, six months of housing supply is deemed as the balance point between buyers and sellers over six months favors buyers under six favors sellers. All right, so let's see where we are now. And by the way, months of housing supply, that phrase is also known as the absorption rate nationally, 4.6 months of resale supply exists. That's the current level, 4.6 months per the NAR now it bottomed out at a frighteningly low one and a half months of supply back in 2022 and it peaked at 12 full months of supply during the global financial crisis, back in 2010 All right, so these are the amounts of resale housing supply available for sale, and we overbuilt homes back in the global financial crisis, everyday people owned multiple homes 15 years ago because virtually anyone could qualify for a loan with those irresponsible lending standards that existed back in that era. I mean, back then, buyers defaulted on payments and walked away from homes and because they had zero down payment in the home. Well, they had zero skin in the game to protect and again, that peaked at 12 months of supply. Now today, Texas and Florida have temporarily overbuilt pockets that are higher than this 4.6 month national number and of course, we have a lot of markets in the Northeast and Midwest that have less than this supply. But note that 4.6 months is still under six months of supply, still favoring sellers just a little, but today's 4.6 months. I mean, that's getting pretty close to historic norms, close to balance. All right, so where is the best buyer opportunity today? Well, understand that. So far, have you picked up on. This we've looked at existing housing supply levels here, also known as resale homes. The opportunity is in new build homes. What's the supply of new construction homes in the US? And understand for perspective that right now, new build homes comprise about 1/3 of the available housing supply. And this might surprise you, we are now up to 9.8 months of new build housing supply, and that's a number that's risen for two years. That's per the Census Bureau and HUD. A lot of builders, therefore, are getting desperate right now, builders have got to sell. The reason that they're willing to cut you a deal is that, see, builders are paying interest costs and maintenance costs every single day on these nice, brand new homes that are just languishing, just sitting there. Understand something builders don't get the benefit of using a home. Unlike the seller family of a resale or existing home, see that family that has a resale home on the market, they get the benefit of living in it while it's on the market. This 9.8 months of new build supply is why buyers are willing to cut you a deal right now, including builders that we work with here at GRE marketplace.    Keith Weinhold  16:30   And we're going to talk to a builder on the show next week and get them to tell us how desperate they are. In fact, it's a Florida builder, and we'll learn about the incentives that they're willing to cut you they're building in one of these oversupplied pockets. So bottom line is that overall, an increasing US housing supply should keep home prices moderating. They're currently up just one to 2% nationally, and more supply means better options for you. Hey, let's talk about this very show that you're listening to, the get rich education podcast. What do you like to do while you're listening to the show? In fact, what are you doing right now while you're listening to the show? Well, in a recent Instagram poll, we asked our audience that very question you told us while listening to the show, 50% of you are commuting, 20% are exercising, 20% are at work, and 10% are doing home chores like cleaning or dishes. Now is this show the number one real estate investing podcast in the United States, we asked chatgpt that very question, and here's how they answered. They said, Excellent question. Real estate investing podcasts have exploded over the past 10 to 12 years, but only a handful have true long term staying power. Here's a list of some of the longest running, consistently active real estate investing podcasts that have built serious legacies. And you know something, we are not number one based on those criteria. This show is ranked number two in the nation. Number one are our friends at the real estate guys radio show hosted by Robert Helms. How many times have I recommended that you go ahead and give them a listen? Of course, I'm just freshly coming off spending nine days with them as one of the faculty members on their summit at sea. Their show started in 1997Yes, on actual radio, before podcasts even existed, and chat GPT goes on to say that they're one of the OGS in the space. It focuses on market cycles, investing strategies and wealth building principles known for its international investor perspective and high profile guests like Robert Kiyosaki. All right, that's what it says about that show. And then rank number two is get rich. Education with me started in 2014 and it goes on to say that this is what the show's about. It says it's real estate centric with a macroeconomic and financial freedom philosophy. It focuses on buy and hold investing, inflation, debt strategy and wealth building. Yeah, that's what it says. And I'd say that's about right? And this next thing is interesting. It describes the host of the show, me as communicating with you in a way that's clear, calm and slightly academic. That's what it says. And yeah, you've got to be clear. Today. There's so much competing for your attention that if I'm not clear with you, then I'm not able to help you calm. Okay? I guess I remain calm. And then finally, slightly academic. I. Hadn't thought about that before. Do you think that I'm slightly academic in my delivery? I guess that's possible. It's appropriate for a show with the word education in our name. I guess it makes sense that I'd be slightly academic. So that fits. I wouldn't want to be heavily academic or just academic, because that could get unrelatable. So there's your answer. The number two show in the nation for real estate investing.    Keith Weinhold  20:29   How are things going with your rental properties? Anyway, I had something interesting happen to me here these past few months. Now I have a property manager in one market that manages quite a few of my properties, all these single family homes and I had five perfect months consecutively as a real estate investor. A perfect month means when you have 100% occupancy, 100% rent collection, and zero maintenance or repair costs. Well, this condition went on for five months with every property that they managed. For me, which is great, profitable news, but that's so unusual to have a streak like that, it kind of makes you wonder if something's going wrong. But the streak just ended. Finally, there was a $400 expense on one of these single family homes. Well, this morning, the manager emailed me about something else. One of my tenants leases expires at the end of next month. I mean, that's typical. This is happening all the time with some property, but they suggested raising the rent from $1,700 up to 1725, and I rarely object to what the property manager suggests. I mean, after all, they are the expert in that local market. That's only about a one and a half percent rent increase, kind of slow there. But again, we're in this era where neither home price growth nor rent growth have been exceptional.    Keith Weinhold  22:02   I am in upstate Pennsylvania today. This is where I'm from. I'm here for my high school class reunion. And, you know, it's funny, the most interesting people to talk to are usually the people that have moved away from this tiny town in Appalachia, counter sport, Pennsylvania, it's not the classmates that stayed and stuck around there in general are less interesting. And yes, this means I am sleeping in my parents home all week. I know I've shared with you before that Curt and Penny Weinhold have lived in the same home and have had the same phone number since 1974 and I sleep in the same bedroom that I've slept in since I was an infant every time that I visit them. Kind of heartwarming. In a few days, I'm going to do a tour of America's first and oldest pretzel bakery in Lititz, Pennsylvania with my aunts and uncles to review what you've learned so far today, put your life first and then build your income producing activity around that. Many college towns are demographically doomed, and even more, have peaked and are on their way down. Overall American residential real estate supply is up. We're now closer to a balanced market than a seller's market. We've discussed the distress in the five plus unit apartment building space owners and syndicators started having their deals blow up, beginning in 2022 when interest rates spiked on those short term and balloon loans that are synonymous with apartment buildings. When we talked to Ken McElroy about it a few weeks ago on the show, he said that the pain still is not over for apartment building owners.   Keith Weinhold  23:51   coming up next, we'll talk about it from a different side, as I'll interview a commercial real estate lender and get her insights. I'll ask her just how bad it will get. And this guest is rather interesting. She's just 29 years old, really bright and articulate, and she founded her own commercial real estate lending firm. She and I recorded this on a cruise ship while we're on the real estate guys Investor Summit at sea a few weeks ago. So you will hear some background noise, you'll get to meet her next I'm Keith Weinhold. There will only ever be one. Get rich education podcast episode 563 and you're listening to it.    Keith Weinhold  24:31   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 prequel and even chat with President Caeli Ridge personally, while it's on your mind, start at Ridge lendinggroup.com that. Ridge lendinggroup.com, you know what's crazy?    Keith Weinhold  25:03   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 66 866, to learn about freedom family investments, liquidity fund, again, text family to 66866   Caeli Ridge  26:13   this is Ridge lending group's president, Caeli Ridge. Listen to get rich education with key blind holes. And remember, don't quit your Daydream.   Keith Weinhold  26:31   Hey, Governor, education nation, Keith Weinhold, here we're on a summit for real estate on a cruise ship, and I'm with Hannah Hammond. She's the founder of HB capital, a commercial real estate lending firm, and the effervescent host of the Hannah Hammond show. Hey, it's great to chat   Hannah Hammond  26:48   you too. It's been so great to get to know you on this ship, and it's been a lot of fun,    Keith Weinhold  26:51   and we just met at this conference for the first time. Hannah just gave a great, well received presentation on the state of the commercial real estate market. And the most interesting thing, and the thing everyone really wants to know since she lends for five plus unit apartment buildings as well, is about the commercial real estate interest rate resets. Apartment Building values have fallen about 30% nationwide, and that is due to these resetting loans. So tell us about that.   Hannah Hammond  27:19   Yeah, so there is a tidal wave of commercial real estate debt coming due in 2025 some of that has already come due, and we've been seeing a lot of the distressed assets start to hit the market in various asset classes, from multifamily, industrial, retail and beyond. And then, as we continue through 2025 more of that title, weight of debt is going to continue to come due, which is estimated to be around $1 trillion of debt.    Keith Weinhold  27:44   That's huge. I mean, that is a true tidal wave. So just to pull back really simply, we're talking about maybe an apartment building owner that almost five years ago might have gotten an interest rate at, say, 4% and in today's higher interest rate environment that's due to reset to a higher rate and kill their cash flow and take them out of business. Tell us about that.   Hannah Hammond  28:03   Yeah. So a lot of investors got caught up a few years ago when rates were really low, and they bought these assets at very low cap rates, which means very high prices, and they projected, maybe over projected, continuous rent growth, like double digit rent growth, which many markets were seeing a few years back, and that rent growth has actually slowed down tremendously. And so much supply hit the market at the same time, because so much construction was developed a few years back. And so now there's a challenge, because rents have actually dropped. There's an overage of supply. Rates have doubled. You know, people were getting apartment complexes and other assets in the two or 3% interest rate range. Now it's closer to the six to 7% interest rate range, which we all know it just doesn't really make numbers work. Every 1% increase in interest you'd have to have about a 10% drop in value for that monthly payment to be the same. So that's why we're seeing a lot of distress in this market right now, which is bad for the people that are caught up on it, but it's good for those who can have the capital to re enter the market at a lower basis and be able to weather this storm and ride the wave back up   Keith Weinhold  29:08   income down, expenses up. Not a very profitable formula. Let's talk more about from this point. How bad can it get? We talked about 1 trillion in loans coming due this calendar year tell us about how bad it might be.    Hannah Hammond  29:23   So it's estimated that potentially 25% of that $1 trillion could be in potential distress. And of course, if two $50 billion of commercial real estate hit foreclosure all at the same time, that would be pretty catastrophic, and there would be a massive supply hitting the market, and therefore a massive reduction in property values and prices. And so a lot of lenders have been trying to mitigate the risk of this happening, and all of this distress debt hit the market at one time. And so lenders have been doing loan modifications and loan extensions and the extend and pretend, quote. Has been in play since back in 2025 but a lot of those extensions are coming due. That's why we're feeling a little bit more of a slower bleed in the commercial market. But you know, in the residential market, we're not seeing as much distress, because so many people have those fixed 30 year rates. But in commercial real estate, rates are generally not fixed for that long. They're more they could be floating get or they might only be fixed for five years, and then they've reset. And that's what we're seeing now, is a lot of those assets that were bought within the last five years have those rate caps expiring, and then the rates are jacking it up to six to 7% and the numbers just don't make sense anymore.   Keith Weinhold  30:36   That one to four unit space single family homes up fourplexes has stayed relatively stable. We're talking about that distress and the five plus unit multi family apartment space. So Hannah, when we pull back and we look at the lender risk appetite and the propensity to lend and to want to make loans, of course, that environment changes over time. I know that all of us here at the summit, we learn from you in your presentation that that can vary by region in the loan to value ratio and the other terms that they're talking about giving. So tell us about some of the regional variation. Where do people want to lend and where do people want to avoid making loans   Hannah Hammond  31:11   Exactly? And we were talking about this is every single region is so different, and there's even micro markets within certain cities and metropolitan areas, and the growth corridors could have a very different outlook and performance than even in the overexposed metro areas. So lenders really pay attention to where the capital is flowing to. And right now, if you look at u haul reports and cell phone data, capital is flowing mostly to the Sun Belt states, and it's leaving the Rust Belt states. So this is your southeast states, your Texas, Florida, Arizona, and these types of regions where a lot of people are leaving some of the Rust Belt states like San Francisco, Chicago, New York, where those markets are being really dragged down by all this office drag from all the default rates in these office buildings that have continued to accumulate post COVID. So the lender appetite is going to shift Market to Market, and they really pay attention to the asset class and also the region in which that asset class is located. And this can affect the LTV, the amount of money that they're going to lend based on the value of the property, also the interest rate and the DSCR ratios, which is how much above the debt coverage the income has to be for the lender to lend on that asset.    Keith Weinhold  32:26   So we're talking about lenders more willing to make loans in places where the population is moving to Florida, other markets in the Southeast Texas, Arizona. Is that what we're talking about here.   Hannah Hammond  32:37   exactly, and even on the equity side, because we help with equity, like JV equity or CO GP equity, on these development projects or value add projects. And a lot of my equity investors, they're like, Nah, not interested in that state. But if it's in a really good Sunbelt type market, then they have a better appetite to lend in those markets.   Keith Weinhold  32:56   Was there any last thing that we should know about the lending environment? Something that impacts the viewers here, maybe something I didn't think about asking you?   Hannah Hammond  33:04   I mean, credit is tight, but there's tons of opportunity. Deals are still happening. Cre originations are actually up in 2025 and projected to land quite a bit higher in 2025 at about 660, 5 billion in originations, versus 539 billion in 2024 so the good news is, deals are happening, movements are happening, purchases and sales are happening. And we need movement to have this market continue to be strong and take place, even though, unfortunately, some investors are going to be stuck in that default debt and they might lose on these properties, it's going to give an opportunity for a lot of other investors who have been kind of sitting on the sidelines, saving up capital and aligning their capital to be able to take advantage of these great deals. Because honestly, we all know it's been really hard to make deals pencil over the past few years, and now with some of this reset, it's going to be a little bit easier to make them pencil.    Keith Weinhold  33:04   This is great. Loans are leverage, compound leverage, trunks, compound interest, leverage and loans are really key to you making more of yourself. Anna, if someone wants to learn more about following you and what you do, what's the best way for them to do that?    Hannah Hammond  33:42   At Hannah B Hammond on Instagram, my show, the Hannah Hammond show, is also on all platforms, YouTube, Instagram, Spotify, Apple, and if you shoot me a follow and a message on Instagram, I will personally respond to and would love to stay connected and help with any questions you have in the commercial real estate market.    Keith Weinhold  34:27   Hannah's got a great presence, and she's great in person too. Go ahead and be sure to give her a follow. We'll see you next time. Thank you.   Keith Weinhold  34:40   Yeah. Sharp insight from Hannah Hammond, there $1 trillion in commercial real estate debt comes due this year. A quarter of that amount, $250 billion is estimated to be in distress or default. This could keep the values of larger apartment buildings suppressed. Even longer, as far as where today's opportunity is, next week on the show, we'll talk to a home builder in Florida, ground zero for an overbuilt market, and we'll see if we can sense the palpable desperation that they have to move their properties and what kind of deals they're giving buyers. Now until next week, I'm your host, Keith Weinhold, do the right thing before you do things right out there, and don't quit your Daydream.   Speaker 3  35:33   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  35:56   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 266, 866, while it's on your mind, take a moment to do it right now. Text, gre 266, 866,   Keith Weinhold  37:12   The preceding program was brought to you by your home for wealth, building, getricheducation.com.