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Speaker 2: A housing market crash is coming is Austin in twenty

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Speaker 2: twenty two twenty the two thousand and eight version of

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Speaker 2: Las Vegas.

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Speaker 3: Listen. Kudos to Dom and p who sent me this

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Speaker 3: dated last night. If you look at where the housing

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Speaker 3: market is in Austin, Texas, and the comparison of where

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Speaker 3: Las Vegas was in two thousand and eight and housing

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Speaker 3: crash was coming. Applications are slowing down, interest rates are

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Speaker 3: going high, Pierre told me last night. Even on investment properties,

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Speaker 3: the information and the amount of capital that you have

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Speaker 3: to put down is not being changed. If any investor

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Speaker 3: that lived in two thousand and eight, they will tell

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Speaker 3: you when the guidelines began to change, that was because

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Speaker 3: the market was getting ready to topple. So now if

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Speaker 3: you go from having to put down fifteen to twenty

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Speaker 3: percent or twenty to twenty five, there is a major

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Speaker 3: adjustment about to happen. So for everyone who bought that

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Speaker 3: bad prices in the top of the market, I am sorry.

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Speaker 3: I begged you to wait and to be patient. Look

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Speaker 3: at the comps in the area. But if a residential

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Speaker 3: neighborhood has one up three x or four x in

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Speaker 3: a year and a half and it has to come down,

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Speaker 3: And since we're not in a recession and the fail

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Speaker 3: to stop doing quantitative easy, this is the next market

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Speaker 3: that is going to topple over. I know everyone going

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Speaker 3: to say I'm not right. Same thing happened in October

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Speaker 3: when it came to this market, the stock market, and

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Speaker 3: here we are. The housing market is next. Please be careful,

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Speaker 3: I'm begging you.

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Speaker 4: Yeah, I mean interesting because when we talk about cities

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Speaker 4: that tech hubs, everybody always brings up Austin, And we

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Speaker 4: actually had a chance to be out there for south

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Speaker 4: By Southwest, and it looks like it's a flourishing text.

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Speaker 4: It's booming, it's booming, it's becoming one. But then I

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Speaker 4: did some research on it. I looked at I think

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Speaker 4: Business Insider had this article was like the top fifteen

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Speaker 4: cities where home appreciation has outpaced wages. Number one city Austin, Texas.

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Speaker 3: Absolutely for those who don't know, the people are not

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Speaker 3: making enough to keep up with what the houses cost

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Speaker 3: because everyone from California and Washington began to move there.

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Speaker 3: So I remember when Tim Ferris and Noah Kagan from

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Speaker 3: Okay Doric moved in like two thousand and eight, and

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Speaker 3: then Facebook slowly came in. Now we're in a bubble.

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Speaker 3: You have to find what the next Austin is going

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Speaker 3: to be. So and I've been telling everyone for five

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Speaker 3: years they moved to Texas way cheaper. But when a

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Speaker 3: population or city becomes overinflated and you having people that

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Speaker 3: are put down seven hundred thousand cash and the house

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Speaker 3: is worth five point fifty. That is the same thing

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Speaker 3: that happened in two thousand and eight. I truly believe

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Speaker 3: like banks, and we may not know this truly for

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Speaker 3: two years, I think banks intentionally imploded the crypto market

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Speaker 3: to get the same results and reaction from two thousand

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Speaker 3: and eight. For those who missed out, wh who studied

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Speaker 3: that market. Freeman is doing a great job at being

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Speaker 3: Buffett at FTX for the crypto space. But there's a

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Speaker 3: bunch of people in investment banking who are like, damn,

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Speaker 3: I missed out on all eight. If we can infiltrate

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Speaker 3: the crypto market with all this fanfare, I mean we

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Speaker 3: saw it when Zillow and red fan was like buying

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Speaker 3: people houses twenty thirty percent of a value and then

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Speaker 3: try to sell them back two months later. That's a

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Speaker 3: crash in the self. It's over with.

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Speaker 2: Yeah, uh yeah, well so we would be What would

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Speaker 2: be your advice for people as far as the real estate,

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Speaker 2: Just be careful, just make sure you're getting good value.

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Speaker 3: You want an answer, a Smoothi King answer.

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Speaker 2: Smoothie King, Let's go, smoothes go full.

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Speaker 3: Stop buying everything as stupid prices. Write this down your

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Speaker 3: number one job and everything you invest in. You don't

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Speaker 3: have to like me or believe me, just to stop

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Speaker 3: buying shit at dumb princes. You can do a fibinizity

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Speaker 3: retracement over any market, water only, fan subscriptions oranges, right

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Speaker 3: the price of tickets to fly to invest us with them.

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Speaker 3: Everything has a high. You should buy, not from the high.

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Speaker 3: I screamed that all last year. Mike, clip it up,

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Speaker 3: Nikki clipped it up.

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Speaker 3: Have to buy at the best prices. The way people

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Speaker 3: finesse you is to create fanfare and then use you

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Speaker 3: as liquidity to drive the price up so that they

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Speaker 3: can exit. Once again. China did not announce on Twitter,

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Speaker 3: I'm going to buy this farm land and now we

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Speaker 3: can come in together with the dow to buy it together.

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Speaker 3: They're required about that. Why Bill Gates has never announced

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Speaker 3: coming to my fund and you can buy all this

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Speaker 3: land with me. Now, wait till you find out those

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Speaker 3: who are buying things in tandem. Stop buying at bad

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Speaker 3: priceis it's only for the benefit of someone else. And

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Speaker 3: if I've made you money, please put us in shut please.

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Speaker 2: Did I did I say that clock analogy last week? Yeah?

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Speaker 3: Yeah? Did you right now? It said again?

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Speaker 2: Yeah? So don Peebles legend legendary billionaire developer. When we

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Speaker 2: spoke to him, he said that his philosophy with real

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Speaker 2: estate because I asked him, I'm like, how do you

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Speaker 2: feel about the real estate market? Is it too hot?

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Speaker 2: He's like, his philosophy a real state and just investing

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Speaker 2: in general. It's like a clock and he was like,

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Speaker 2: he was like, right now, it's at like the clock

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Speaker 2: is at twelve o'clock. And he said, you don't you

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Speaker 2: don't buy when it's at twelve o'clock. Like the hands

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Speaker 2: is like it's like pointing out like this. He said.

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Speaker 2: His philosophy is to wait till it gets to like

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Speaker 2: three o'clock. I think like from three he was like,

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Speaker 2: at three o'clock, that's when you should start being interested.

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Speaker 2: At four o'clock, he said, from four to eight o'clock

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Speaker 2: is when he's buying. From four to eight o'clock is

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Speaker 2: when he's buying, and then from eight o'clock to twelve

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Speaker 2: o'clock is like when he's selling. And then and then

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Speaker 2: from twelve o'clock to four o'clock is when he's researching.

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Speaker 2: That's what it was. From from twelve o'clock to four

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Speaker 2: o'clock is research. Four o'clock to eight o'clock is buying.

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Speaker 2: Eight o'clock to twelve o'clock is selling. You don't want

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Speaker 2: to be there by low sell high. And he said,

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Speaker 2: right now, it's at twelve o'clock. Right now, that's what

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Speaker 2: he said. I don't know. He's a billionaire.

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Speaker 3: A lot of investment in business comes down to will

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Speaker 3: you listen to the people that are trying to help

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Speaker 3: you and take your emotions out of it. Hope is

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Speaker 3: not a strategy. Hope is not a strategy. So when everyone,

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Speaker 3: especially in our community, when the entire hood is talking

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Speaker 3: about crypto stocks, real estate, bro its too late. Okay,

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Speaker 3: let's take me and let's say y'all going to press

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Speaker 3: round and I do shows back to back right on

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Speaker 3: fire and I'm doing trap numbers, a million out the

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Speaker 3: gate first week, Trapped and keys and broke the cold

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Speaker 3: one Hunter, get clicks like crazy. Right then I go

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Speaker 3: to let's say iHeart and say, hey, let's bundle this up.

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Speaker 3: What eyl on, Let's do a deal. Who does the

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Speaker 3: benefits mean? So on crypto, when they had all this

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Speaker 3: fan fare going and the amc apes and all that, right,

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Speaker 3: that was to build fanfare to then sell off. You

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Speaker 3: notice almost everybody who was running these funds and crypto

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Speaker 3: are now looking to go work at the bank where

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Speaker 3: they partner with the bank, or they sold out in

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Speaker 3: some form or fashion. If you do not know who

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Speaker 3: is being finessed in the deal, that is usually you.

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Speaker 3: Even in my finesse, My thing is I want to

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Speaker 3: help you so much that if I go run for

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Speaker 3: president one day, you're like, man, he crazy with that Smoothie,

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Speaker 3: can't get him jackets boy. But Ian was all right

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Speaker 3: with me. Let me go ahead and vote for him.

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Speaker 3: I want to help you first in advance. So if

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Speaker 3: you do not know who is the beneficiary in a

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Speaker 3: deal or transaction, or you being a part of a

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Speaker 3: fan club, it is the person who runs it and

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Speaker 3: not you. Invest in ask considerable risk. Please consult your

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Speaker 3: advisor and listen to what I tell you. I'm begging.

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Speaker 2: I love y'all, and please please be mindful.

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Speaker 3: Extremely important my graduates from my school being forced bad.

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Speaker 6: Drop drop, Mike, drop drop.

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Speaker 1: support our show by saying you heard about Indeed on

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Speaker 1: you need