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Speaker 1: You have a limited supply, you have high prices, and

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Speaker 1: a persistent mortgage rate. All of these things are contributing

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Speaker 1: to a slowing housing market. Inventory has fallen and it's

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Speaker 1: not quite as good as it has been in the past.

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Speaker 1: That's that's the bottom line for this. So you've got

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Speaker 1: November home sales struggling and you've got a limited supply.

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Speaker 1: Let's see here, houses are staying on the market longer

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Speaker 1: thirty six days versus thirty two days last November.

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Speaker 2: Okay, little change there.

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Speaker 1: Normally six months is a balance, and now there's a

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Speaker 1: four point two month supply of houses available. First time

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Speaker 1: buyers are thirty percent of sales.

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Speaker 2: I think if you're if you're waiting around for a

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Speaker 2: housing crash so you can jump in when the price

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Speaker 2: is bottom out, maybe waiting a while, because that's what

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Speaker 2: people have been saying since housing started spiking in twenty

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Speaker 2: twenty one. In twenty twenty two, and there are some

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Speaker 2: key fundamentals here that are going to keep house prices. Now,

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Speaker 2: home prices make him down a little bit, but for

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Speaker 2: the most part, especially nationwide, keep home prices from totally crashing.

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Speaker 2: Forty percent of single family homes do not have a mortgage.

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Speaker 2: That's number one.

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Speaker 1: Seems really high.

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Speaker 2: It seems really high to me. But forty percent of

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Speaker 2: US homes do not have a mortgage.

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Speaker 1: And then you think about it because they're renting or

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Speaker 1: because they're paid No.

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Speaker 2: Because they're full, they're fully paid for. Well, I mean,

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Speaker 2: think about the greatest concentration of wealth in human history

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Speaker 2: is sitting with the baby boomers.

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Speaker 1: Well, and that goes into what Donald Trump said. Let's

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Speaker 1: actually let's play that clip because he's talking to the

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Speaker 1: boomers about this. Listen to this, or say.

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Speaker 3: On housing, you talked in your address last night about housing.

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Speaker 1: Are you still considering a national emergency over housing?

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Speaker 3: I'm looking at it. What would that little monkey? What

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Speaker 3: would that mobile? You don't have to There's two thoughts

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Speaker 3: on housing. You have a lot of people have housing

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Speaker 3: that because we have such a strong time and such

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Speaker 3: a strong market. Their houses are very valuable. It's a

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Speaker 3: big part of their net worth their house. I don't

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Speaker 3: want to knock those numbers down because I want them

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Speaker 3: to continue to have a big value for their house.

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Speaker 3: At the same time, I want to make it possible

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Speaker 3: for young people out there and other people to buy

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Speaker 3: housing in a way they're at conflict. In other words,

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Speaker 3: you create a lot of housing all of a sudden

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Speaker 3: that it drives the housing prices down. So I want

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Speaker 3: to take care of the people that have houses that

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Speaker 3: have a value to the house that they never thought possible,

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Speaker 3: that have sort of made them wealthy and happy, and

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Speaker 3: you know, especially in their later years, got to be

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Speaker 3: careful with that. I want to keep them up. At

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Speaker 3: the same time, I want to make it possible for

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Speaker 3: people to go buy houses.

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Speaker 1: So what he's saying is that he wants the boomers

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Speaker 1: to be able to keep their mind.

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Speaker 2: Yeah, this is These are all of the things that

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Speaker 2: are fighting against housing prices coming down. We talked about

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Speaker 2: forty percent of houses don't have a mortgage. Of the

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Speaker 2: remaining sixty percent, twenty percent of those houses don't have

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Speaker 2: or have a mortgage that's at three percent or lower.

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Speaker 2: So you've got sixty percent of all houses are either

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Speaker 2: owned outright by the owners or have a mortgage at

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Speaker 2: three percent or lower. The people with the three percent

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Speaker 2: mortgage have no interest in moving. They want to hang

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Speaker 2: on to that three percent mortgage forever.

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Speaker 1: Finance.

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Speaker 2: Then you've got you know what Donald Trump has said,

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Speaker 2: and this really speaks to local communities because all real

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Speaker 2: estate is local. And while you may see, you know,

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Speaker 2: markets that were hot in the past, like Las Vegas

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Speaker 2: or Tampa, they may see a significant decrease in housing prices,

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Speaker 2: it's not going to be their nationwide. It's because these

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Speaker 2: local municipalities are zoning and creating regulations that make it very,

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Speaker 2: very difficult for affordable housing to be built. Why is

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Speaker 2: that the case because the people that already own houses

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Speaker 2: don't want somebody building right some low housing option built

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Speaker 2: right next to them, because that's going to drag their

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Speaker 2: hot home value down. So the idea that if you're

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Speaker 2: just waiting for a housing crash, you're waiting for a

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Speaker 2: correction on housing prices and then we can jump in.

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Speaker 2: You may be waiting a long long time. And people

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Speaker 2: have been saying that already since twenty twenty one, twenty

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Speaker 2: twenty two.

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Speaker 1: So you've got the Noblesville Common Council, they reviewed a

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Speaker 1: proposal for a fifty five in older community and they

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Speaker 1: also elected their new officers. Looks like that's going to

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Speaker 1: happen in Noblesville, a fifty five in older community. I'm

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Speaker 1: I'm eligible for that. You're eligible, You're not can I

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Speaker 1: take you with me? You know that work.

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Speaker 2: It depends on the rules and regulations of those. Various homeowners'

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Speaker 2: associations have different rules, but I'm going to guess that

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Speaker 2: if your spouse is over fifty five and you're under that,

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Speaker 2: that it's okay for the spouse to come along. We

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Speaker 2: thank you for admitting that, and thank you for being

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Speaker 2: so forthright and admitting that I am under fifty five.

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Speaker 2: I appreciate that you're welcome