Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security.
Speaker 3: Real estate is something that everybody has been talking about
Speaker 3: for a long time, and obviously we know that that's
Speaker 3: something that's extremely important as far as you know, building
Speaker 3: wealth and you know, bridging the wealth gap, and you know,
Speaker 3: home equity, and it's a variety. Everybody knows why real
Speaker 3: estate is good at this point, right, or can be good,
Speaker 3: but it's some disturbing times that we're living in. Stock
Speaker 3: market has corrected itself several different times over the last decade.
Speaker 3: Real estate has never really crashed since two thousand and eight.
Speaker 3: Real estate prices continue to go up. Right, even when
Speaker 3: the economy is slowing down, it has no signs of
Speaker 3: slowing down or at least, you know, fully crashing or
Speaker 3: pulling back. Even though people are not making as much
Speaker 3: money year over year. Right, It's not like people are
Speaker 3: making tremendously more money. Inflation is a huge problem. Inflation
Speaker 3: has been going crazy, interest rates have been going up,
Speaker 3: so at a certain point, it becomes hard to justify
Speaker 3: buying real estate. Right. So I want to get you
Speaker 3: your take on I have. I have my views on this,
Speaker 3: but I want to I want to let you start
Speaker 3: the conversation and then we'll just take it from there.
Speaker 4: Yeah.
Speaker 5: First, thanks for having me on the show, guys. I
Speaker 5: really appreciate it. I really feel as if look, I
Speaker 5: always say the same thing, don't buy nothing you can't afford, right,
Speaker 5: And we are in inflation every times right now. It's
Speaker 5: no denying that the store prices are crazy. Anything you
Speaker 5: look at buy is high right now. Real estate is
Speaker 5: one of those things that is going to continue to rise,
Speaker 5: in my opinion, because of simple supplying demand. There's not
Speaker 5: enough supply out there for even a little bit of
Speaker 5: the man that's out there right now, and there is
Speaker 5: still a lot of demand out there in the market,
Speaker 5: even with interest rates being at eight percent right now
Speaker 5: for a thirty year conventional mortgage, and that's what a
Speaker 5: excellent credit score of seven to sixty. Right So we
Speaker 5: have this argument, and I saw your posts and the
Speaker 5: comments is just like I mean, the comments are going crazy,
Speaker 5: and everybody's going to always have this debate. Well should
Speaker 5: you buy? Should you rent? Well, you got to do something.
Speaker 5: If you rent, you pay somebody's mortgage regardless. That's just
Speaker 5: how I look at it. So if you are going
Speaker 5: to pay somebody's rent, me personally, I'd rather you pay
Speaker 5: here or pay somebody's mortgage. I'd rather you pay your
Speaker 5: own mortgage and own the house. Now, obviously you don't
Speaker 5: want to buy nothing that you can't afford. But if
Speaker 5: you can afford it, I still think you should go
Speaker 5: out there and buy, but just make sure you're really
Speaker 5: focusing more on the deal. In today's market, not really
Speaker 5: focused on too much of the interest rate. But you
Speaker 5: got to focus on the numbers. You got to focus
Speaker 5: on the deal. You always got to remember real estate
Speaker 5: is especially a mortgage. You can always refinance a mortgage
Speaker 5: if you qualify at some point. As very important if
Speaker 5: you qualify right, because a refinance is not a guarante.
Speaker 5: Is not something that you could just walk into the
Speaker 5: bank and say, hey, rates are five percent right now,
Speaker 5: refinance my mortgage. No, you still have to go through
Speaker 5: a qualification process, but you always have to keep that
Speaker 5: in your back pocket. Today's seven eight percent mortgage rate
Speaker 5: can easily be four or five percent when that market drops. Now,
Speaker 5: what I would tell everybody who's watching this, and I'll
Speaker 5: tell you guys this too, What do you think is
Speaker 5: gonna happen when these rates do drop a year from now,
Speaker 5: two years from now, where do you think is gonna happen? Prices?
Speaker 5: Prices is going to go just like this, They're gonna skyrocket.
Speaker 5: So I think we're in a position right now. And
Speaker 5: or honesty, if you do not buy something right now
Speaker 5: while there is less competition in the market with higher
Speaker 5: interest rates, you could be priced out even worse than
Speaker 5: you are today in two to three years. So for me,
Speaker 5: I'm always going to encourage especially black and brown people
Speaker 5: to go out there and buy real estate because our
Speaker 5: wealth is trapped in the real estate market.
Speaker 4: They say, we look like reallyt So I got to
Speaker 4: ask the question, what do you say to everyone who
Speaker 4: says you just say that because you're in the real
Speaker 4: estate industry.
Speaker 5: Yeah, I get that all the time too, and I
Speaker 5: love that, right.
Speaker 4: It's the question to be asked, and.
Speaker 5: It's a fair question, right because people say I'm biased
Speaker 5: because I'm trying to make a commission. Well, guess what, guys,
Speaker 5: I'll make more money if the market does crash, So
Speaker 5: me telling you go out here and buy now, like
Speaker 5: either which way, it doesn't hurt. A true professional like myself,
Speaker 5: someone who's been in this business for twenty plus years
Speaker 5: that has a book of business, I know how to
Speaker 5: make money in any of these type of markets. Good market,
Speaker 5: bad market, left right. My sole purpose of being on
Speaker 5: the internet is one to provide leads for my mortgage business, obviously,
Speaker 5: but two to provide information so that way our people
Speaker 5: don't get screwed over, and a lot of our people
Speaker 5: over the past twenty thirty years, forty years, fifty years,
Speaker 5: I've been screwed over in the real estate space because
Speaker 5: no one has ever taught us how to buy home.
Speaker 5: So I'm always going to be biased of home ownership
Speaker 5: because not just because it's something that I do for
Speaker 5: a living, is because I see the benefits as a
Speaker 5: homeowner of owning your own home. It's nothing better than.
Speaker 2: That MG you talked about two thousand and eight, and
Speaker 2: it's something that you would end the business right you
Speaker 2: were navigating through that there was a crash. Shotty brought
Speaker 2: up about that that monthly mortgage payment being fifty two
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
Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security was
Speaker 2: thirty three percent, So we're about twenty two percent higher
Speaker 2: than that period of time. Is this will we're headed.
Speaker 2: There's going to be a correction, there's going to be
Speaker 2: a crash. Obviously you said you're gonna make money either way.
Speaker 2: But I'm looking at from the standpoint of the person
Speaker 2: that was saying, yes, you should buy a home. As
Speaker 2: interest rates go higher, it becomes much harder to put
Speaker 2: down this twenty percent down payment. So it's kind of
Speaker 2: a dilemma, right the interest rates are going up, I
Speaker 2: can't afford to it, so I might have to rent,
Speaker 2: but there might be a price point where I'm getting
Speaker 2: priced out in the event that there is a crash.
Speaker 2: There's a dilemma here that I'm not sure people are
Speaker 2: going to figure out how to navigate through.
Speaker 5: So I'm glad you brought out two thousand and eight
Speaker 5: and a lot of people like to bring that up
Speaker 5: right and try to compare statistics from that era to today.
Speaker 5: But you also can't forget that the mortgage industry was
Speaker 5: completely different than what it was today, Right, People, if
Speaker 5: you had a post back then, you can get a mortgage.
Speaker 5: Now you're getting fully underwritten, So it's a different synopsis
Speaker 5: right then. Also, you got to look at look at
Speaker 5: the inventory from two thousand and seven, two thousand and eight,
Speaker 5: two thousand and nine. At any given one of those years,
Speaker 5: you had over ten eleven months of supply on the market.
Speaker 5: You had two to four million foreclosures happening every single year.
Speaker 4: Right. We don't have.
Speaker 5: Those type of situations in today's market, So the underlying
Speaker 5: factors are completely different. If you're looking at two thousand
Speaker 5: and eight thousand market compared to twenty twenty three housing market,
Speaker 5: it's completely different. Now when you talk about income people
Speaker 5: being in like the inflation times, yeah, this is a
Speaker 5: completely different story, right. I don't think we've ever been
Speaker 5: through this at this level country where prices have rolls
Speaker 5: this fast, just for everything that you're looking to buy,
Speaker 5: no matter what it is.
Speaker 4: Right.
Speaker 5: So I guess only Tom would tell what's really going
Speaker 5: to happen once that really starts kicking in and really
Speaker 5: kind of hurting people more than what is hurting them now.
Speaker 5: But I think me personally, we're not going to see
Speaker 5: a huge flux of inventory hit the market because most
Speaker 5: of the mortgages right now, I think seventy percent of
Speaker 5: all mortgages are below four percent interest rate. Those folks
Speaker 5: are not Russian to sell their sell I know.
Speaker 2: I was gonna say, is that the silver lining and
Speaker 2: all this? Right, I was looking at the statistic. It's
Speaker 2: eighty percent of the stand and US mortgage that is
Speaker 2: under five percent, under five percent.
Speaker 4: Yeah, that means that you have a.
Speaker 2: Large population of people that have a pretty good mortgage
Speaker 2: rate and they just are going to sit there and
Speaker 2: not do anything. Yeah.
Speaker 5: But also look at this too, you have fifty percent
Speaker 5: I think it's like fifty percent of all mortgages have
Speaker 5: at least fifty percent of equity in the property too, right,
Speaker 5: So now you have low rates top with most of Americans,
Speaker 5: majority of them have fifty forty thirty percent equity in
Speaker 5: their homes. And home prices are still going up this
Speaker 5: year two to four to five percent, just depending on
Speaker 5: what the market is. No, we're not going to see
Speaker 5: twenty twenty five percent appreciation year of a year like
Speaker 5: we've seen during the pandemic years. But appreciation is still appreciation, yallars,
Speaker 5: So you have these underlying factors that we didn't have
Speaker 5: in two.
Speaker 2: Thousand and eight.
Speaker 5: Folks, didn't have, you know, all of this equity in
Speaker 5: their homes back in those days. And then again, the
Speaker 5: most important factor is the qualification of yesterday's borrow compared
Speaker 5: to today's borrow. Today's borrow is being vetted and being
Speaker 5: underwright and more thoroughly. There's more rules, there's more regulations
Speaker 5: to protect the homeowners. There's more modification programs that are
Speaker 5: out there in today's market that wasn't even an existence
Speaker 5: until the market crash, and these programs had to be
Speaker 5: created to say people from losing their homes. Everybody got
Speaker 5: to realize the banks are not in the real estate business.
Speaker 5: They're in the lending business. They don't want to own
Speaker 5: your home, so they're gonna do whatever.
Speaker 4: We have an honest conversation, Yeah, let's be causing a
Speaker 4: lot of disinflation and pricing us out of the market. Like,
Speaker 4: here's an amazing concept. Let me ruin a housing market
Speaker 4: from two thousand and two to two thousand and six
Speaker 4: with all the ninja loans. The White House has to
Speaker 4: call me and to fix it. And then all of
Speaker 4: a sudden, I change all of the modifications, so now
Speaker 4: I have a better book of buyers. When I say
Speaker 4: that I want to be the biggest landlord in the world.
Speaker 4: I can make sure that those loans are favorable as
Speaker 4: I'm pricing everybody out.
Speaker 5: Yeah, I mean, look at all the institutional investors. They're
Speaker 5: all killing this market right now. Look at you know,
Speaker 5: all how they buying property site unseen right. Look at
Speaker 5: the Zillos of the world, and all these different corporations
Speaker 5: that will buying all these singles families. Over the past
Speaker 5: couple of years, even before it started really getting a
Speaker 5: lot of news play, if you look at even seventeen
Speaker 5: eighteen nineteen, the institutional investors have been buying up real
Speaker 5: estate for a very long time, driving up prices. It's
Speaker 5: just now when the rates dropped everybody started really getting in.
Speaker 5: The pandemic obviously helped everybody's attention. You ain't got nothing
Speaker 5: to do, you home, right, you're paying attention now. But
Speaker 5: this is not nothing new. And like we all know this,
Speaker 5: institutional investors are always going to continue to invest. Their
Speaker 5: job is to make money, period, point blank. And the
Speaker 5: housing market is up for grabs, so they're going to
Speaker 5: continue to invest. And this is why for me, I
Speaker 5: don't really see a crash happening. I don't really see.
Speaker 5: I see a correction still going to happen, right, definite,
Speaker 5: and every what goes up has to come down at
Speaker 5: some point.
Speaker 4: Right.
Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fine nearly
Speaker 1: one thousand dollars a day, imprisoned and deported, you will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right, leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security,