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Speaker 1: Thirty year mortgage rates hit their lowest level in ten months,

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Speaker 1: but they're actually up from a year ago. So the

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Speaker 1: long term thirty year rate, according to WTHR and I

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Speaker 1: think this story originated out of the Associated Press, fell

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Speaker 1: from six point sixty three to six point five eight.

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Speaker 2: However a year ago.

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Speaker 1: It was six point four to nine. Now Freddie Mack

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Speaker 1: is the source on that. So it's like, it's better

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Speaker 1: than it was, but it's still it's still higher than

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Speaker 1: it was, and it's still largely in the inflated home

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Speaker 1: price world we live, prohibited from many people, prohibiting many

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Speaker 1: people from being able to buy a home.

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Speaker 3: It kind of sounds like when gas was like four

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Speaker 3: to seventy five and went to four to twenty, and

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Speaker 3: they want you to be happy about it.

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Speaker 2: That's right, that's perfect. Yes, it is. It's much better

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Speaker 2: down You're like, it's still up four dollars. This is crazy.

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Speaker 1: Now, You, for the most part, are are a career renter.

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Speaker 2: Yep.

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Speaker 1: You have owned a home before, but you, as a

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Speaker 1: unmarried man, have spent most of your life in a

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Speaker 1: rental dwelling of some sort.

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Speaker 2: Yep.

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Speaker 1: I have done both both owned homes and rented them.

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Speaker 1: Is there a reason you have avoided of your own

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Speaker 1: volition owning eyes, like.

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Speaker 2: To just go out and get a house. Yeah.

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Speaker 3: I think just the thought of being like I want

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Speaker 3: to lock into something for fifteen, twenty years, ten years

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Speaker 3: is just that has never been my life per se.

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Speaker 2: And maybe that's from the military.

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Speaker 3: I've been here for twenty years, right, I could have

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Speaker 3: done it, but I just I don't know.

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Speaker 1: Because there used to be the old saying that and

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Speaker 1: years ago. Pete the Planner, who you can hear weekend Sunday,

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Speaker 1: I think Sunday afternoons you're on WIBC. He he's a

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Speaker 1: financial guy, well known media personality here in Central Indiana.

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Speaker 1: He did a big thing on whether it was actually

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Speaker 1: bet this was probably ten years ago to rent or

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Speaker 1: own a home.

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Speaker 3: It's probably more fiscally smart for me to rent right now. Well,

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Speaker 3: so that's my situation. It's been totally turned upside down.

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Speaker 3: I almost equate it to like how it used to

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Speaker 3: be so much cheaper to eat at home versus eating

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Speaker 3: out where they were like, well, if you just made

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Speaker 3: the food at home and be cheaper, but because of

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Speaker 3: the cost of food at the grocery store is so high.

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Speaker 3: Now it's almost in many cases cheaper to just go somewhere,

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Speaker 3: especially have a coupon of some sort, like like I

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Speaker 3: do a stack of them, a stack of them.

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Speaker 1: And I think home ownership is almost the same thing

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Speaker 1: now with the interest rates coupled with the inflated housing prices.

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Speaker 1: Like how much does your rent go up every year?

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Speaker 3: Like, I mean it's not much. I mean probably last

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Speaker 3: year it went up like one hundred and fifty.

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Speaker 2: Bucks a month.

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Speaker 1: No, I mean totally the month last year, like for

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Speaker 1: a month, maybe fifty dollars, which is not a lot

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Speaker 1: to me. So you're saying maybe six hundred dollars for

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Speaker 1: the year, correct, Okay, So when you compare that, and

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Speaker 1: I don't know what your base rent is, I'm not

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Speaker 1: gonna ask you, But when you think about the rather

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Speaker 1: riskless environment you live in while renting.

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Speaker 2: If something breaks, they'll come fix it.

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Speaker 3: I don't have to cut grass, I don't have to

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Speaker 3: worry about property tags out to the shovel snow, I

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Speaker 3: have to pay AHOA fees.

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Speaker 2: I don't have to pay any of the stuff.

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Speaker 1: Yeah, so a risk you are in a completely riskless environment. Basically,

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Speaker 1: that's six hundred dollars increase versus like somebody who owns

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Speaker 1: a home, but if they're paying something even remotely close,

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Speaker 1: which they probably are because of if they bought at

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Speaker 1: the house recently with interest and inflated prices, you're in

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Speaker 1: a much better position because you go to sleep with

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Speaker 1: your head on the pillow each night, worrying like, hey,

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Speaker 1: my water heater breaks. It ain't on me, right, if

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Speaker 1: my refrigerator stops.

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Speaker 3: Running, And then if they come at me and go

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Speaker 3: we're gonna raise it one hundred, I just find go

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Speaker 3: somewhere else.

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Speaker 2: Yeah, Yeah, I'm not stuck.

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Speaker 3: You know when the property tax sunk comes out, like

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Speaker 3: people have to figure that out.

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Speaker 2: You can't just leave.

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Speaker 1: Yeah, I like it's just the whole world is so

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Speaker 1: topsy turvy now.

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Speaker 2: But isn't this how they want it? They don't want

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Speaker 2: us to own anything.

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Speaker 1: Well, that's a great point. There's a lot of people

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Speaker 1: who really believe that. And look when you see all

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Speaker 1: of these things that keep happening and keeps moving towards that,

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Speaker 1: and life keeps getting more and more affordable.

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Speaker 2: Or less affordable.

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Speaker 1: Things keep getting more and more expensive that make my

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Speaker 1: life less affordable, you do kind of start to give

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Speaker 1: credence to that being that there's a there.

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Speaker 2: I'm not trying to be conspiracy theory.

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Speaker 3: An I mean, but if you look around, all you

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Speaker 3: see is multi tenant housing. That's all you see going up.

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Speaker 3: And then you're wondering who's even moving into these places

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Speaker 3: because a lot of them look empty.

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Speaker 2: And you know, we talked about this before.

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Speaker 1: I've lived for basically most of my adult life the

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Speaker 1: same street, and I've lived in a basically a one

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Speaker 1: mile geographical area almost my entire life. And I think

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Speaker 1: about the street that I live on, and there are

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Speaker 1: still some very nice middle income houses and people who

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Speaker 1: keep their yards up, et cetera. But on the same

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Speaker 1: street where when I was a kid, every house was

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Speaker 1: kept up, and almost every house was occupied by a

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Speaker 1: family who owned it, who had some sort of steak

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Speaker 1: you went to school with, the exactly community we talked

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Speaker 1: about yesterday, That community was there. I drive down that

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Speaker 1: street now and go my neighborhood looks a little rough

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Speaker 1: compared to the way it used to. And a big

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Speaker 1: portion is if you go online, you can see this

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Speaker 1: in your neighborhood, and you see this on your street,

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Speaker 1: you start seeing more and more of these houses being

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Speaker 1: rentals where in which people are not invested in in

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Speaker 1: the outcome of the thing, because, like you said, a

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Speaker 1: year from now, they don't have to be there.

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Speaker 3: But if you look at places in Hamlinon County, they're

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Speaker 3: trying to get rid of that where they're going to

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Speaker 3: limit the amount of rental they can even be in

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Speaker 3: a neighborhood for that exact same reason.

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Speaker 1: But the one thing I worry about with that just

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Speaker 1: you know, just totally veer off the topic here, but

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Speaker 1: the rental cap on homes seems to then elevate these

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Speaker 1: Soviet block style apartment complexes because if people can't rent

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Speaker 1: a home, they're gonna have to go somewhere, and they're being.

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Speaker 2: To stay in the dorms.

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Speaker 1: Like, who thought putting those on the main strip there

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Speaker 1: in Noblesville was a good idea?

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Speaker 2: You lived there.

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Speaker 3: As soon as you start telling me, I saw what

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Speaker 3: you were talking about, right there, right across from the

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Speaker 3: from the field.

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Speaker 2: So what is that thirty two? Yeah? Is that thirty two?

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Speaker 3: Right as it gets into Noblesville? Can you go over

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Speaker 3: the bridge and then boom, you're.

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Speaker 1: Right before the square. If you've never been to Noblesville,

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Speaker 1: it for years had this. I assume it still does.

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Speaker 1: This uber quaint, beautiful talent downtown. It's the County seats,

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Speaker 1: the courthouse has right beautiful square mom and pop shops,

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Speaker 1: And for some reason, this idiot Mayor Jensen thought it

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Speaker 1: would be great to take these ugly, lifeless, soulless, Soviet

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Speaker 1: block looking apartment things and stick them right on the

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Speaker 1: main drag heading towards that which is surrounded by quaint houses.

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Speaker 2: Definitely stands out. Yeah, it definitely stands out ugly.

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Speaker 1: It's ridiculous, and it's happening everywhere. It seems like these

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Speaker 1: things are happening everywhere. And I don't know what y'all's

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Speaker 1: deal is in Hamilton County. I don't know why people

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Speaker 1: just keep looking around, going this is fine, this is okay,

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Speaker 1: give us more of this. But whatever it is, the pushback,

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Speaker 1: it doesn't seem to be sufficient.

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Speaker 3: No, there's no there is no