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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: Real estate is something that everybody has been talking about

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Speaker 3: for a long time, and obviously we know that that's

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Speaker 3: something that's extremely important as far as you know, building

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Speaker 3: wealth and you know, bridging the wealth gap, and you know,

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Speaker 3: home equity, and it's a variety. Everybody knows why real

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Speaker 3: estate is good at this point, right, or can be good,

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Speaker 3: but it's some disturbing times that we're living in. Stock

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Speaker 3: market has corrected itself several different times over the last decade.

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Speaker 3: Real estate has never really crashed since two thousand and eight.

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Speaker 3: Real estate prices continue to go up. Right, even when

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Speaker 3: the economy is slowing down, it has no signs of

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Speaker 3: slowing down or at least, you know, fully crashing or

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Speaker 3: pulling back. Even though people are not making as much

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Speaker 3: money year over year. Right, It's not like people are

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Speaker 3: making tremendously more money. Inflation is a huge problem. Inflation

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Speaker 3: has been going crazy, interest rates have been going up,

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Speaker 3: so at a certain point, it becomes hard to justify

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Speaker 3: buying real estate. Right. So I want to get you

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Speaker 3: your take on I have. I have my views on this,

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Speaker 3: but I want to I want to let you start

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Speaker 3: the conversation and then we'll just take it from there.

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Speaker 4: Yeah.

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Speaker 5: First, thanks for having me on the show, guys. I

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Speaker 5: really appreciate it. I really feel as if look, I

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Speaker 5: always say the same thing, don't buy nothing you can't afford, right,

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Speaker 5: And we are in inflation every times right now. It's

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Speaker 5: no denying that the store prices are crazy. Anything you

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Speaker 5: look at buy is high right now. Real estate is

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Speaker 5: one of those things that is going to continue to rise,

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Speaker 5: in my opinion, because of simple supplying demand. There's not

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Speaker 5: enough supply out there for even a little bit of

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Speaker 5: the man that's out there right now, and there is

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Speaker 5: still a lot of demand out there in the market,

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Speaker 5: even with interest rates being at eight percent right now

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Speaker 5: for a thirty year conventional mortgage, and that's what a

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Speaker 5: excellent credit score of seven to sixty. Right So we

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Speaker 5: have this argument, and I saw your posts and the

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Speaker 5: comments is just like I mean, the comments are going crazy,

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Speaker 5: and everybody's going to always have this debate. Well should

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Speaker 5: you buy? Should you rent? Well, you got to do something.

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Speaker 5: If you rent, you pay somebody's mortgage regardless. That's just

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Speaker 5: how I look at it. So if you are going

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Speaker 5: to pay somebody's rent, me personally, I'd rather you pay

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Speaker 5: here or pay somebody's mortgage. I'd rather you pay your

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Speaker 5: own mortgage and own the house. Now, obviously you don't

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Speaker 5: want to buy nothing that you can't afford. But if

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Speaker 5: you can afford it, I still think you should go

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Speaker 5: out there and buy, but just make sure you're really

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Speaker 5: focusing more on the deal. In today's market, not really

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Speaker 5: focused on too much of the interest rate. But you

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Speaker 5: got to focus on the numbers. You got to focus

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Speaker 5: on the deal. You always got to remember real estate

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Speaker 5: is especially a mortgage. You can always refinance a mortgage

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Speaker 5: if you qualify at some point. As very important if

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Speaker 5: you qualify right, because a refinance is not a guarante.

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Speaker 5: Is not something that you could just walk into the

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Speaker 5: bank and say, hey, rates are five percent right now,

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Speaker 5: refinance my mortgage. No, you still have to go through

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Speaker 5: a qualification process, but you always have to keep that

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Speaker 5: in your back pocket. Today's seven eight percent mortgage rate

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Speaker 5: can easily be four or five percent when that market drops. Now,

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Speaker 5: what I would tell everybody who's watching this, and I'll

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Speaker 5: tell you guys this too, What do you think is

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Speaker 5: gonna happen when these rates do drop a year from now,

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Speaker 5: two years from now, where do you think is gonna happen? Prices?

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Speaker 5: Prices is going to go just like this, They're gonna skyrocket.

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Speaker 5: So I think we're in a position right now. And

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Speaker 5: or honesty, if you do not buy something right now

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Speaker 5: while there is less competition in the market with higher

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Speaker 5: interest rates, you could be priced out even worse than

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Speaker 5: you are today in two to three years. So for me,

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Speaker 5: I'm always going to encourage especially black and brown people

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Speaker 5: to go out there and buy real estate because our

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Speaker 5: wealth is trapped in the real estate market.

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Speaker 4: They say, we look like reallyt So I got to

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Speaker 4: ask the question, what do you say to everyone who

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Speaker 4: says you just say that because you're in the real

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Speaker 4: estate industry.

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Speaker 5: Yeah, I get that all the time too, and I

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Speaker 5: love that, right.

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Speaker 4: It's the question to be asked, and.

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Speaker 5: It's a fair question, right because people say I'm biased

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Speaker 5: because I'm trying to make a commission. Well, guess what, guys,

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Speaker 5: I'll make more money if the market does crash, So

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Speaker 5: me telling you go out here and buy now, like

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Speaker 5: either which way, it doesn't hurt. A true professional like myself,

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Speaker 5: someone who's been in this business for twenty plus years

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Speaker 5: that has a book of business, I know how to

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Speaker 5: make money in any of these type of markets. Good market,

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Speaker 5: bad market, left right. My sole purpose of being on

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Speaker 5: the internet is one to provide leads for my mortgage business, obviously,

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Speaker 5: but two to provide information so that way our people

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Speaker 5: don't get screwed over, and a lot of our people

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Speaker 5: over the past twenty thirty years, forty years, fifty years,

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Speaker 5: I've been screwed over in the real estate space because

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Speaker 5: no one has ever taught us how to buy home.

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Speaker 5: So I'm always going to be biased of home ownership

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Speaker 5: because not just because it's something that I do for

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Speaker 5: a living, is because I see the benefits as a

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Speaker 5: homeowner of owning your own home. It's nothing better than.

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Speaker 2: That MG you talked about two thousand and eight, and

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Speaker 2: it's something that you would end the business right you

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Speaker 2: were navigating through that there was a crash. Shotty brought

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Speaker 2: up about that that monthly mortgage payment being fifty two

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Speaker 2: percent higher during that crash at the time that percentage

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security was

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Speaker 2: thirty three percent, So we're about twenty two percent higher

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Speaker 2: than that period of time. Is this will we're headed.

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Speaker 2: There's going to be a correction, there's going to be

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Speaker 2: a crash. Obviously you said you're gonna make money either way.

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Speaker 2: But I'm looking at from the standpoint of the person

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Speaker 2: that was saying, yes, you should buy a home. As

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Speaker 2: interest rates go higher, it becomes much harder to put

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Speaker 2: down this twenty percent down payment. So it's kind of

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Speaker 2: a dilemma, right the interest rates are going up, I

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Speaker 2: can't afford to it, so I might have to rent,

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Speaker 2: but there might be a price point where I'm getting

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Speaker 2: priced out in the event that there is a crash.

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Speaker 2: There's a dilemma here that I'm not sure people are

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Speaker 2: going to figure out how to navigate through.

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Speaker 5: So I'm glad you brought out two thousand and eight

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Speaker 5: and a lot of people like to bring that up

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Speaker 5: right and try to compare statistics from that era to today.

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Speaker 5: But you also can't forget that the mortgage industry was

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Speaker 5: completely different than what it was today, Right, People, if

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Speaker 5: you had a post back then, you can get a mortgage.

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Speaker 5: Now you're getting fully underwritten, So it's a different synopsis

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Speaker 5: right then. Also, you got to look at look at

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Speaker 5: the inventory from two thousand and seven, two thousand and eight,

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Speaker 5: two thousand and nine. At any given one of those years,

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Speaker 5: you had over ten eleven months of supply on the market.

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Speaker 5: You had two to four million foreclosures happening every single year.

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Speaker 4: Right. We don't have.

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Speaker 5: Those type of situations in today's market, So the underlying

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Speaker 5: factors are completely different. If you're looking at two thousand

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Speaker 5: and eight thousand market compared to twenty twenty three housing market,

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Speaker 5: it's completely different. Now when you talk about income people

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Speaker 5: being in like the inflation times, yeah, this is a

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Speaker 5: completely different story, right. I don't think we've ever been

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Speaker 5: through this at this level country where prices have rolls

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Speaker 5: this fast, just for everything that you're looking to buy,

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Speaker 5: no matter what it is.

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Speaker 4: Right.

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Speaker 5: So I guess only Tom would tell what's really going

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Speaker 5: to happen once that really starts kicking in and really

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Speaker 5: kind of hurting people more than what is hurting them now.

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Speaker 5: But I think me personally, we're not going to see

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Speaker 5: a huge flux of inventory hit the market because most

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Speaker 5: of the mortgages right now, I think seventy percent of

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Speaker 5: all mortgages are below four percent interest rate. Those folks

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Speaker 5: are not Russian to sell their sell I know.

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Speaker 2: I was gonna say, is that the silver lining and

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Speaker 2: all this? Right, I was looking at the statistic. It's

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Speaker 2: eighty percent of the stand and US mortgage that is

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Speaker 2: under five percent, under five percent.

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Speaker 4: Yeah, that means that you have a.

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Speaker 2: Large population of people that have a pretty good mortgage

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Speaker 2: rate and they just are going to sit there and

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Speaker 2: not do anything. Yeah.

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Speaker 5: But also look at this too, you have fifty percent

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Speaker 5: I think it's like fifty percent of all mortgages have

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Speaker 5: at least fifty percent of equity in the property too, right,

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Speaker 5: So now you have low rates top with most of Americans,

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Speaker 5: majority of them have fifty forty thirty percent equity in

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Speaker 5: their homes. And home prices are still going up this

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Speaker 5: year two to four to five percent, just depending on

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Speaker 5: what the market is. No, we're not going to see

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Speaker 5: twenty twenty five percent appreciation year of a year like

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Speaker 5: we've seen during the pandemic years. But appreciation is still appreciation, yallars,

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Speaker 5: So you have these underlying factors that we didn't have

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Speaker 5: in two.

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Speaker 2: Thousand and eight.

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Speaker 5: Folks, didn't have, you know, all of this equity in

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Speaker 5: their homes back in those days. And then again, the

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Speaker 5: most important factor is the qualification of yesterday's borrow compared

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Speaker 5: to today's borrow. Today's borrow is being vetted and being

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Speaker 5: underwright and more thoroughly. There's more rules, there's more regulations

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Speaker 5: to protect the homeowners. There's more modification programs that are

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Speaker 5: out there in today's market that wasn't even an existence

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Speaker 5: until the market crash, and these programs had to be

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Speaker 5: created to say people from losing their homes. Everybody got

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Speaker 5: to realize the banks are not in the real estate business.

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Speaker 5: They're in the lending business. They don't want to own

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Speaker 5: your home, so they're gonna do whatever.

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Speaker 4: We have an honest conversation, Yeah, let's be causing a

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Speaker 4: lot of disinflation and pricing us out of the market. Like,

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Speaker 4: here's an amazing concept. Let me ruin a housing market

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Speaker 4: from two thousand and two to two thousand and six

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Speaker 4: with all the ninja loans. The White House has to

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Speaker 4: call me and to fix it. And then all of

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Speaker 4: a sudden, I change all of the modifications, so now

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Speaker 4: I have a better book of buyers. When I say

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Speaker 4: that I want to be the biggest landlord in the world.

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Speaker 4: I can make sure that those loans are favorable as

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Speaker 4: I'm pricing everybody out.

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Speaker 5: Yeah, I mean, look at all the institutional investors. They're

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Speaker 5: all killing this market right now. Look at you know,

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Speaker 5: all how they buying property site unseen right. Look at

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Speaker 5: the Zillos of the world, and all these different corporations

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Speaker 5: that will buying all these singles families. Over the past

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Speaker 5: couple of years, even before it started really getting a

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Speaker 5: lot of news play, if you look at even seventeen

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Speaker 5: eighteen nineteen, the institutional investors have been buying up real

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Speaker 5: estate for a very long time, driving up prices. It's

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Speaker 5: just now when the rates dropped everybody started really getting in.

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Speaker 5: The pandemic obviously helped everybody's attention. You ain't got nothing

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Speaker 5: to do, you home, right, you're paying attention now. But

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Speaker 5: this is not nothing new. And like we all know this,

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Speaker 5: institutional investors are always going to continue to invest. Their

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Speaker 5: job is to make money, period, point blank. And the

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Speaker 5: housing market is up for grabs, so they're going to

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Speaker 5: continue to invest. And this is why for me, I

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Speaker 5: don't really see a crash happening. I don't really see.

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Speaker 5: I see a correction still going to happen, right, definite,

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Speaker 5: and every what goes up has to come down at

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Speaker 5: some point.

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Speaker 4: Right.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fine nearly

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Speaker 1: one thousand dollars a day, imprisoned and deported, you will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right, leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security,