WEBVTT - Cliff Notes: IS A HOUSING CRASH COMING?

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<v Speaker 2>A housing market crash is coming is Austin in twenty

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<v Speaker 2>twenty two twenty the two thousand and eight version of

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<v Speaker 2>Las Vegas.

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<v Speaker 3>Listen. Kudos to Dom and p who sent me this

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<v Speaker 3>dated last night. If you look at where the housing

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<v Speaker 3>market is in Austin, Texas, and the comparison of where

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<v Speaker 3>Las Vegas was in two thousand and eight and housing

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<v Speaker 3>crash was coming. Applications are slowing down, interest rates are

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<v Speaker 3>going high, Pierre told me last night. Even on investment properties,

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<v Speaker 3>the information and the amount of capital that you have

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<v Speaker 3>to put down is not being changed. If any investor

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<v Speaker 3>that lived in two thousand and eight, they will tell

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<v Speaker 3>you when the guidelines began to change, that was because

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<v Speaker 3>the market was getting ready to topple. So now if

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<v Speaker 3>you go from having to put down fifteen to twenty

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<v Speaker 3>percent or twenty to twenty five, there is a major

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<v Speaker 3>adjustment about to happen. So for everyone who bought that

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<v Speaker 3>bad prices in the top of the market, I am sorry.

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<v Speaker 3>I begged you to wait and to be patient. Look

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<v Speaker 3>at the comps in the area. But if a residential

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<v Speaker 3>neighborhood has one up three x or four x in

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<v Speaker 3>a year and a half and it has to come down,

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<v Speaker 3>And since we're not in a recession and the fail

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<v Speaker 3>to stop doing quantitative easy, this is the next market

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<v Speaker 3>that is going to topple over. I know everyone going

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<v Speaker 3>to say I'm not right. Same thing happened in October

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<v Speaker 3>when it came to this market, the stock market, and

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<v Speaker 3>here we are. The housing market is next. Please be careful,

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<v Speaker 3>I'm begging you.

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<v Speaker 4>Yeah, I mean interesting because when we talk about cities

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<v Speaker 4>that tech hubs, everybody always brings up Austin, And we

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<v Speaker 4>actually had a chance to be out there for south

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<v Speaker 4>By Southwest, and it looks like it's a flourishing text.

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<v Speaker 4>It's booming, it's booming, it's becoming one. But then I

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<v Speaker 4>did some research on it. I looked at I think

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<v Speaker 4>Business Insider had this article was like the top fifteen

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

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<v Speaker 3>Absolutely for those who don't know, the people are not

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<v Speaker 3>making enough to keep up with what the houses cost

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<v Speaker 3>because everyone from California and Washington began to move there.

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<v Speaker 3>So I remember when Tim Ferris and Noah Kagan from

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<v Speaker 3>Okay Doric moved in like two thousand and eight, and

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<v Speaker 3>then Facebook slowly came in. Now we're in a bubble.

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<v Speaker 3>You have to find what the next Austin is going

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<v Speaker 3>to be. So and I've been telling everyone for five

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<v Speaker 3>years they moved to Texas way cheaper. But when a

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<v Speaker 3>population or city becomes overinflated and you having people that

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<v Speaker 3>are put down seven hundred thousand cash and the house

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<v Speaker 3>is worth five point fifty. That is the same thing

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<v Speaker 3>that happened in two thousand and eight. I truly believe

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<v Speaker 3>like banks, and we may not know this truly for

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<v Speaker 3>two years, I think banks intentionally imploded the crypto market

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<v Speaker 3>to get the same results and reaction from two thousand

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<v Speaker 3>and eight. For those who missed out, wh who studied

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<v Speaker 3>that market. Freeman is doing a great job at being

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<v Speaker 3>Buffett at FTX for the crypto space. But there's a

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<v Speaker 3>bunch of people in investment banking who are like, damn,

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<v Speaker 3>I missed out on all eight. If we can infiltrate

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<v Speaker 3>the crypto market with all this fanfare, I mean we

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<v Speaker 3>saw it when Zillow and red fan was like buying

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<v Speaker 3>people houses twenty thirty percent of a value and then

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<v Speaker 3>try to sell them back two months later. That's a

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<v Speaker 3>crash in the self. It's over with.

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<v Speaker 2>Yeah, uh yeah, well so we would be What would

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<v Speaker 2>be your advice for people as far as the real estate,

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

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<v Speaker 3>You want an answer, a Smoothi King answer.

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<v Speaker 2>Smoothie King, Let's go, smoothes go full.

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<v Speaker 3>Stop buying everything as stupid prices. Write this down your

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<v Speaker 3>number one job and everything you invest in. You don't

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<v Speaker 3>have to like me or believe me, just to stop

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<v Speaker 3>buying shit at dumb princes. You can do a fibinizity

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<v Speaker 3>retracement over any market, water only, fan subscriptions oranges, right

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<v Speaker 3>the price of tickets to fly to invest us with them.

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<v Speaker 3>Everything has a high. You should buy, not from the high.

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<v Speaker 3>I screamed that all last year. Mike, clip it up,

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<v Speaker 3>Nikki clipped it up.

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<v Speaker 5>This episode is brought to you by P and C Bank.

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<v Speaker 6>Forward behind those warm and cozy nights at home. Thousands

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<v Speaker 6>investing in America, you.

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<v Speaker 3>Have to buy at the best prices. The way people

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<v Speaker 3>finesse you is to create fanfare and then use you

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<v Speaker 3>as liquidity to drive the price up so that they

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<v Speaker 3>can exit. Once again. China did not announce on Twitter,

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<v Speaker 3>I'm going to buy this farm land and now we

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<v Speaker 3>can come in together with the dow to buy it together.

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<v Speaker 3>They're required about that. Why Bill Gates has never announced

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<v Speaker 3>coming to my fund and you can buy all this

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<v Speaker 3>land with me. Now, wait till you find out those

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<v Speaker 3>who are buying things in tandem. Stop buying at bad

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<v Speaker 3>priceis it's only for the benefit of someone else. And

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

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<v Speaker 2>Did I did I say that clock analogy last week? Yeah?

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<v Speaker 3>Yeah? Did you right now? It said again?

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<v Speaker 2>Yeah? So don Peebles legend legendary billionaire developer. When we

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<v Speaker 2>spoke to him, he said that his philosophy with real

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<v Speaker 2>estate because I asked him, I'm like, how do you

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<v Speaker 2>feel about the real estate market? Is it too hot?

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<v Speaker 2>He's like, his philosophy a real state and just investing

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<v Speaker 2>in general. It's like a clock and he was like,

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<v Speaker 2>he was like, right now, it's at like the clock

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

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

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<v Speaker 2>is like it's like pointing out like this. He said.

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<v Speaker 2>His philosophy is to wait till it gets to like

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<v Speaker 2>three o'clock. I think like from three he was like,

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

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<v Speaker 2>At four o'clock, he said, from four to eight o'clock

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<v Speaker 2>is when he's buying. From four to eight o'clock is

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

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<v Speaker 2>o'clock is like when he's selling. And then and then

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<v Speaker 2>from twelve o'clock to four o'clock is when he's researching.

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

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<v Speaker 2>o'clock is research. Four o'clock to eight o'clock is buying.

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<v Speaker 2>Eight o'clock to twelve o'clock is selling. You don't want

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<v Speaker 2>to be there by low sell high. And he said,

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

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<v Speaker 2>he said. I don't know. He's a billionaire.

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<v Speaker 3>A lot of investment in business comes down to will

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<v Speaker 3>you listen to the people that are trying to help

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<v Speaker 3>you and take your emotions out of it. Hope is

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<v Speaker 3>not a strategy. Hope is not a strategy. So when everyone,

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<v Speaker 3>especially in our community, when the entire hood is talking

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<v Speaker 3>about crypto stocks, real estate, bro its too late. Okay,

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<v Speaker 3>let's take me and let's say y'all going to press

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<v Speaker 3>round and I do shows back to back right on

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<v Speaker 3>fire and I'm doing trap numbers, a million out the

0:10:03.960 --> 0:10:06.360
<v Speaker 3>gate first week, Trapped and keys and broke the cold

0:10:06.360 --> 0:10:09.280
<v Speaker 3>one Hunter, get clicks like crazy. Right then I go

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<v Speaker 3>to let's say iHeart and say, hey, let's bundle this up.

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

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<v Speaker 3>benefits mean? So on crypto, when they had all this

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<v Speaker 3>fan fare going and the amc apes and all that, right,

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<v Speaker 3>that was to build fanfare to then sell off. You

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<v Speaker 3>notice almost everybody who was running these funds and crypto

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<v Speaker 3>are now looking to go work at the bank where

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<v Speaker 3>they partner with the bank, or they sold out in

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<v Speaker 3>some form or fashion. If you do not know who

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<v Speaker 3>is being finessed in the deal, that is usually you.

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<v Speaker 3>Even in my finesse, My thing is I want to

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<v Speaker 3>help you so much that if I go run for

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

0:10:46.520 --> 0:10:48.880
<v Speaker 3>can't get him jackets boy. But Ian was all right

0:10:48.880 --> 0:10:50.439
<v Speaker 3>with me. Let me go ahead and vote for him.

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<v Speaker 3>I want to help you first in advance. So if

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<v Speaker 3>you do not know who is the beneficiary in a

0:10:59.200 --> 0:11:01.880
<v Speaker 3>deal or transaction, or you being a part of a

0:11:01.880 --> 0:11:04.200
<v Speaker 3>fan club, it is the person who runs it and

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<v Speaker 3>not you. Invest in ask considerable risk. Please consult your

0:11:08.480 --> 0:11:11.800
<v Speaker 3>advisor and listen to what I tell you. I'm begging.

0:11:12.400 --> 0:11:15.000
<v Speaker 2>I love y'all, and please please be mindful.

0:11:16.120 --> 0:11:22.520
<v Speaker 3>Extremely important my graduates from my school being forced bad.

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<v Speaker 6>Drop drop, Mike, drop drop.

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