1 00:00:00,240 --> 00:00:03,360 Speaker 1: Private school versus public school from a financial standpoint. 2 00:00:03,480 --> 00:00:05,480 Speaker 2: Let's talk about this because I saw this on CNBC. 3 00:00:07,160 --> 00:00:10,640 Speaker 1: I thought it was pretty interesting because the average price 4 00:00:10,720 --> 00:00:12,879 Speaker 1: of public school in New York City, what do you 5 00:00:12,920 --> 00:00:16,960 Speaker 1: think it is? A public school? I mean private private school? 6 00:00:16,960 --> 00:00:18,200 Speaker 1: The average price of private. 7 00:00:17,960 --> 00:00:21,560 Speaker 2: School New York City. What do you think of that year? 8 00:00:22,360 --> 00:00:25,160 Speaker 2: Seventy thousand dollars a year? Wait for shot? Time out? 9 00:00:25,720 --> 00:00:30,000 Speaker 2: You still stay there? My boy? TV? Time out? What 10 00:00:31,560 --> 00:00:32,360 Speaker 2: that's what's happening? 11 00:00:32,520 --> 00:00:35,400 Speaker 1: That's that's happening in New York the New York New 12 00:00:35,440 --> 00:00:38,720 Speaker 1: York City, Greater New York City area. The average price 13 00:00:38,760 --> 00:00:44,320 Speaker 1: for a higher level private school, not Catholic school, private 14 00:00:44,320 --> 00:00:47,040 Speaker 1: school like an elite private school, an elite private school. 15 00:00:47,440 --> 00:00:51,160 Speaker 1: The average price is seventy thousand dollars a year. It's 16 00:00:51,200 --> 00:00:53,200 Speaker 1: worth it though you can afford? 17 00:00:53,280 --> 00:00:54,959 Speaker 2: Okay? Is it worth it? Though? 18 00:00:54,960 --> 00:00:57,440 Speaker 1: Because that was the thing so CNBC said, Okay, they 19 00:00:57,440 --> 00:00:59,120 Speaker 1: brought up the thing of if you invest the money, 20 00:00:59,200 --> 00:01:01,560 Speaker 1: and they did it. They did it to age fifty. 21 00:01:01,960 --> 00:01:03,720 Speaker 1: But I did a calculation, even if you do it 22 00:01:03,760 --> 00:01:06,120 Speaker 1: to age thirty. Right, Let's say you put seventy thousand 23 00:01:06,120 --> 00:01:09,280 Speaker 1: dollars away and then for four years, and then you 24 00:01:09,480 --> 00:01:12,759 Speaker 1: just let that that grows for twelve percent a year, 25 00:01:13,000 --> 00:01:14,640 Speaker 1: and then you don't put any more money away. Then 26 00:01:14,640 --> 00:01:16,000 Speaker 1: you let it grow, then you let it sit for 27 00:01:16,040 --> 00:01:18,760 Speaker 1: another twelve years. So by the time the child is 28 00:01:18,840 --> 00:01:21,080 Speaker 1: thirty years old. Right, So by the time a child's 29 00:01:21,120 --> 00:01:23,880 Speaker 1: thirty years old, they'll have one point three million dollars 30 00:01:25,080 --> 00:01:26,679 Speaker 1: with the price that you would have paid for the 31 00:01:26,720 --> 00:01:30,440 Speaker 1: private school. So there's pros and cons for this private 32 00:01:30,440 --> 00:01:34,800 Speaker 1: school situation. And I think I can speak about this 33 00:01:34,840 --> 00:01:36,640 Speaker 1: because I went to public and private school and I 34 00:01:36,680 --> 00:01:39,360 Speaker 1: have my son who went to public and private school. 35 00:01:41,840 --> 00:01:44,600 Speaker 2: It's tricky as a parent because. 36 00:01:45,840 --> 00:01:49,360 Speaker 1: On one hand, public schools are very segregated, which is ironic. 37 00:01:49,960 --> 00:01:51,559 Speaker 2: We can go down this rabbit hole if you want. 38 00:01:51,560 --> 00:01:55,360 Speaker 1: But they say, like from the brown versus the Board 39 00:01:55,400 --> 00:01:58,920 Speaker 1: of Education desegregate, desegregated the public school. 40 00:01:58,720 --> 00:02:01,440 Speaker 2: District legally, but not. 41 00:02:01,480 --> 00:02:04,680 Speaker 1: Actually, it's even more segregated now than it wasn't then. 42 00:02:05,440 --> 00:02:07,600 Speaker 1: And I know this from even from the public school 43 00:02:07,640 --> 00:02:13,200 Speaker 1: that I want to Traditionally, usually white people live in 44 00:02:13,240 --> 00:02:17,000 Speaker 1: all white neighborhoods. Black people live in all black neighborhoods, 45 00:02:17,360 --> 00:02:19,520 Speaker 1: and that's been done for redline and that there's so 46 00:02:19,520 --> 00:02:22,040 Speaker 1: many different reasons why. But in America is a very 47 00:02:22,080 --> 00:02:27,720 Speaker 1: segregated place and it reflects in the school system. So 48 00:02:29,360 --> 00:02:32,880 Speaker 1: you face two deliveris you can send your kid to 49 00:02:32,919 --> 00:02:35,440 Speaker 1: a public school. Unfortunately, a lot of times depending on 50 00:02:35,440 --> 00:02:37,320 Speaker 1: where you live. If you're in a black neighborhood, then 51 00:02:37,400 --> 00:02:40,160 Speaker 1: the education system is going to be lower, and it's 52 00:02:40,160 --> 00:02:45,000 Speaker 1: going to be less resourced, and you're going to have obstacles. 53 00:02:45,520 --> 00:02:48,480 Speaker 1: It's not going to be the best level of education. Unfortunately. 54 00:02:49,240 --> 00:02:51,320 Speaker 1: You can make enough money and move to a white neighborhood, 55 00:02:51,360 --> 00:02:53,520 Speaker 1: but then you'll be the only black kid in. 56 00:02:53,480 --> 00:02:54,080 Speaker 2: A white and. 57 00:02:56,360 --> 00:02:59,399 Speaker 1: I've heard stories about that how that that doesn't work out. 58 00:02:59,440 --> 00:03:02,280 Speaker 1: That's even even worse than going to a bad black school. 59 00:03:03,560 --> 00:03:06,680 Speaker 1: Then there's a few neighborhoods that's like some level of mix, 60 00:03:06,840 --> 00:03:09,239 Speaker 1: but there's not a lot. Then you do the private 61 00:03:09,240 --> 00:03:11,880 Speaker 1: school route, and you could pay a lot of money 62 00:03:12,160 --> 00:03:13,760 Speaker 1: for a private school, and you can get some good 63 00:03:13,800 --> 00:03:17,639 Speaker 1: level of diversity in private school as well, but man, 64 00:03:17,680 --> 00:03:19,960 Speaker 1: you spend you spend so much money, and then it's like, 65 00:03:20,080 --> 00:03:22,919 Speaker 1: well a lot of kids that not graduate are graduating, 66 00:03:22,960 --> 00:03:23,720 Speaker 1: they still can't. 67 00:03:23,560 --> 00:03:24,080 Speaker 2: Get a job. 68 00:03:24,800 --> 00:03:27,360 Speaker 1: So it's like even if you went to I know 69 00:03:27,360 --> 00:03:29,480 Speaker 1: people that went to high level private school. Just because 70 00:03:29,480 --> 00:03:30,680 Speaker 1: you went to a private school, that does not mean 71 00:03:30,720 --> 00:03:32,840 Speaker 1: you're going to be successful in life, because I know 72 00:03:32,840 --> 00:03:35,880 Speaker 1: people that went to private school that and it's like, damn, 73 00:03:35,920 --> 00:03:38,760 Speaker 1: you could have just went to a public school. But 74 00:03:39,200 --> 00:03:43,640 Speaker 1: but it does give you greater possibility and great access 75 00:03:43,960 --> 00:03:47,119 Speaker 1: and greater access, and that's important. 76 00:03:48,680 --> 00:03:50,400 Speaker 2: But then you spend so much money on that. 77 00:03:50,520 --> 00:03:52,880 Speaker 1: And like the CNBC thing, I was interesting because they like, Yo, 78 00:03:52,960 --> 00:03:55,040 Speaker 1: what if you spend that money you invested. Would it 79 00:03:55,080 --> 00:03:57,720 Speaker 1: be better to just give an adult millions of dollars 80 00:03:58,600 --> 00:04:02,400 Speaker 1: as there as an adult, as opposed to investing in 81 00:04:02,440 --> 00:04:07,840 Speaker 1: a child when they're young with the maybe they make it. 82 00:04:07,160 --> 00:04:09,160 Speaker 2: To Harvard, maybe they don't. 83 00:04:10,920 --> 00:04:14,640 Speaker 1: So it's a very it's tricky. 84 00:04:14,880 --> 00:04:15,440 Speaker 2: It's tricky. 85 00:04:15,520 --> 00:04:19,200 Speaker 3: And even if let's say going forward, people say I'm 86 00:04:19,240 --> 00:04:21,120 Speaker 3: not going to put my kid in private, I'm going 87 00:04:21,200 --> 00:04:25,440 Speaker 3: to invest it. They'll adjust the rate of return over 88 00:04:25,480 --> 00:04:28,760 Speaker 3: that fifteen year period. We're seeing it in a bitcoin now, 89 00:04:28,800 --> 00:04:30,479 Speaker 3: we're seeing it with CAPEC spend. 90 00:04:31,480 --> 00:04:31,840 Speaker 2: Now. 91 00:04:33,920 --> 00:04:36,840 Speaker 3: The all private schools are not created equal, and of 92 00:04:36,880 --> 00:04:41,720 Speaker 3: course there's a tax on the emotional side of parents 93 00:04:41,760 --> 00:04:43,280 Speaker 3: wanting their kids to do well, So you got to 94 00:04:43,360 --> 00:04:47,479 Speaker 3: vet the success rate of the school, and that's easier 95 00:04:47,480 --> 00:04:53,239 Speaker 3: to do now than ever. But you're really paying for curriculum, teacher, 96 00:04:53,720 --> 00:04:55,520 Speaker 3: and network more than anything. 97 00:04:55,839 --> 00:04:56,120 Speaker 2: I did. 98 00:04:56,160 --> 00:04:59,360 Speaker 3: Really interest in stat though, for this generation is going 99 00:04:59,400 --> 00:05:03,040 Speaker 3: to be the generation that makes more makes less than 100 00:05:03,080 --> 00:05:04,520 Speaker 3: that parents at the same age. 101 00:05:04,880 --> 00:05:06,480 Speaker 2: And if you look at the number of people who. 102 00:05:06,400 --> 00:05:09,719 Speaker 3: Are married and have a owner home this year that 103 00:05:09,800 --> 00:05:12,640 Speaker 3: are thirty, it's at twelve percent, which is the lowest 104 00:05:12,680 --> 00:05:14,760 Speaker 3: rate that has ever been in the United States of America. 105 00:05:15,520 --> 00:05:19,680 Speaker 3: So it's a tougher conversation than it was in two 106 00:05:19,720 --> 00:05:22,400 Speaker 3: thousand and definitely tougher than it was in the early 107 00:05:22,480 --> 00:05:27,040 Speaker 3: nineteen nineties. But I think if I have to pick private, 108 00:05:27,440 --> 00:05:28,159 Speaker 3: there is the way to go. 109 00:05:28,240 --> 00:05:30,960 Speaker 2: It just depends on the school. But may I don't know. 110 00:05:30,960 --> 00:05:33,039 Speaker 2: It's that much of New York. I'm grateful to be 111 00:05:33,080 --> 00:05:35,000 Speaker 2: here in Houston. So what school? 112 00:05:35,320 --> 00:05:38,760 Speaker 1: What great is the indre fifth he goes to private school, 113 00:05:38,760 --> 00:05:41,200 Speaker 1: a public school, public now, but in private next year. 114 00:05:41,839 --> 00:05:43,920 Speaker 1: So you're sending him to private school next year and 115 00:05:44,240 --> 00:05:46,080 Speaker 1: the plans to keep them private for the rest of his. 116 00:05:46,200 --> 00:05:48,200 Speaker 2: Correct That's what my parents did. 117 00:05:48,279 --> 00:05:51,320 Speaker 1: For me, And yeah, and the reason why you're doing 118 00:05:51,360 --> 00:05:55,120 Speaker 1: that is is because everything you just said. 119 00:05:55,160 --> 00:06:00,720 Speaker 3: Higher level of education access, what school rules, they can 120 00:06:00,800 --> 00:06:04,560 Speaker 3: ride them too for university opportunity. I know a lot 121 00:06:04,600 --> 00:06:07,320 Speaker 3: of people say it doesn't matter, but also, as a parent, 122 00:06:07,800 --> 00:06:09,359 Speaker 3: you have to have a plan for your child and 123 00:06:09,360 --> 00:06:11,240 Speaker 3: then you have to make sure that the child follows 124 00:06:11,279 --> 00:06:13,480 Speaker 3: that plan. You just can't throw them to public school. 125 00:06:14,400 --> 00:06:16,479 Speaker 3: I'm in private school and think everything's going to be okay. 126 00:06:16,520 --> 00:06:19,240 Speaker 2: Same one. Like let's say, au some people think if 127 00:06:19,240 --> 00:06:19,760 Speaker 2: you just put. 128 00:06:19,600 --> 00:06:22,039 Speaker 3: Your kid in you you're automatically going to be recruited 129 00:06:22,040 --> 00:06:23,720 Speaker 3: and then be able to go to college. You need 130 00:06:23,760 --> 00:06:26,200 Speaker 3: to plan all the way through. You need to plan 131 00:06:26,240 --> 00:06:30,479 Speaker 3: all the way through. So yeah, I've danced with the 132 00:06:30,520 --> 00:06:33,000 Speaker 3: idea of both. But my answer is to do both, 133 00:06:33,000 --> 00:06:35,560 Speaker 3: to put them in private and continue to invest in 134 00:06:35,560 --> 00:06:37,560 Speaker 3: the money for him, and then if he is doing 135 00:06:37,600 --> 00:06:39,640 Speaker 3: what I need him to do when he's an adult, 136 00:06:39,720 --> 00:06:40,839 Speaker 3: you'll get your disbursement. 137 00:06:40,880 --> 00:06:42,560 Speaker 2: If you're not, I'll be happy to keep the money 138 00:06:42,600 --> 00:06:45,920 Speaker 2: in my possession. Yeah, I mean for me, I look 139 00:06:45,960 --> 00:06:46,480 Speaker 2: at it from it. 140 00:06:46,480 --> 00:06:50,120 Speaker 1: It's some things intangibly that private school has benefits that 141 00:06:50,120 --> 00:06:53,440 Speaker 1: public school doesn't even outside of the curriculum education. It's 142 00:06:53,520 --> 00:06:57,840 Speaker 1: like being able to look at life differently, small classrooms, 143 00:06:57,920 --> 00:07:03,520 Speaker 1: group discussions like that, exposure to certain things that wires 144 00:07:03,520 --> 00:07:08,480 Speaker 1: your brain differently differently. So yeah, I mean I look 145 00:07:08,520 --> 00:07:10,880 Speaker 1: at it like for me, my son, he's the biggest 146 00:07:10,880 --> 00:07:13,320 Speaker 1: investment because he could be my biggest liability if not 147 00:07:13,360 --> 00:07:17,160 Speaker 1: done correctly. I've seen that happen if your children. Children 148 00:07:17,240 --> 00:07:20,160 Speaker 1: could be your biggest liability in life. I've seen this 149 00:07:20,440 --> 00:07:25,520 Speaker 1: happen as an adult is draining to have a child 150 00:07:25,760 --> 00:07:28,200 Speaker 1: that you have to support or a child that's a 151 00:07:28,240 --> 00:07:31,600 Speaker 1: continuous fuck up, and that's mentally draining. 152 00:07:32,280 --> 00:07:36,720 Speaker 2: It's mentally draining and financially draining as well. So it's 153 00:07:36,800 --> 00:07:41,000 Speaker 2: like it's going to be my biggest but but. 154 00:07:42,800 --> 00:07:45,440 Speaker 1: A child can be your biggest asset in life later 155 00:07:45,520 --> 00:07:48,600 Speaker 1: I see that too, Like you can have a child 156 00:07:48,600 --> 00:07:51,840 Speaker 1: where he's going to be paying for the for the house, 157 00:07:52,000 --> 00:07:55,400 Speaker 1: or he's paying for you know, if you got medical 158 00:07:55,440 --> 00:08:00,080 Speaker 1: bills or whatever. Like there's a child that's actually not 159 00:08:00,160 --> 00:08:05,160 Speaker 1: a burden. He's a blessing or she or she or 160 00:08:05,200 --> 00:08:10,760 Speaker 1: she's a blessing. As far as so, the biggest ass 161 00:08:10,880 --> 00:08:15,200 Speaker 1: the biggest investment because hopefully it's the biggest asset and 162 00:08:15,640 --> 00:08:18,720 Speaker 1: hopefully it's not the biggest liability, because a child can 163 00:08:18,800 --> 00:08:21,360 Speaker 1: one hundred thousand percent become a liability. 164 00:08:21,400 --> 00:08:23,840 Speaker 2: And that's not talked about enough either. That happens a 165 00:08:23,880 --> 00:08:26,600 Speaker 2: lot shitting with Glorialer. 166 00:08:26,200 --> 00:08:30,679 Speaker 1: Sister, honey, because everybody talks about your partner, your wife 167 00:08:30,760 --> 00:08:33,160 Speaker 1: or your husband could be your biggest liability, and that's 168 00:08:33,160 --> 00:08:35,840 Speaker 1: a fact that is true. But a child could be 169 00:08:36,360 --> 00:08:39,400 Speaker 1: even as big or bigger of a liability. If you're 170 00:08:39,400 --> 00:08:41,720 Speaker 1: a parent and your child as a fuck up and 171 00:08:42,000 --> 00:08:45,240 Speaker 1: you know, the drug addict or criminal keep going back 172 00:08:45,280 --> 00:08:48,800 Speaker 1: to jail or you know, you got to always give 173 00:08:48,840 --> 00:08:50,240 Speaker 1: them money and you got to stay up. 174 00:08:50,280 --> 00:08:53,040 Speaker 2: Because it sounds good to say. 175 00:08:54,080 --> 00:08:56,440 Speaker 1: By the time my child gets eighteen or twenty years old, 176 00:08:56,480 --> 00:08:58,080 Speaker 1: I did all I could do on their own. That 177 00:08:58,200 --> 00:09:02,520 Speaker 1: sounds that sounds good in theory, but nine times out 178 00:09:02,559 --> 00:09:05,320 Speaker 1: of ten, especially a mother, you're not just going to 179 00:09:05,400 --> 00:09:08,240 Speaker 1: just be able to just detach from your child and 180 00:09:08,320 --> 00:09:13,079 Speaker 1: just say you're okay, be homeless, like you know what 181 00:09:13,080 --> 00:09:15,360 Speaker 1: I'm saying, Like you're not just going to throw him 182 00:09:15,360 --> 00:09:18,800 Speaker 1: to the world at eighteen is unfair or even any age, 183 00:09:19,280 --> 00:09:21,480 Speaker 1: Like somebody could be forty years old and it's still 184 00:09:21,559 --> 00:09:24,800 Speaker 1: your child for sure. Like you know what I'm saying, Like, 185 00:09:24,840 --> 00:09:26,440 Speaker 1: I don't think there's too many people that's just going 186 00:09:26,480 --> 00:09:29,280 Speaker 1: to be comfortable just saying, well, fuck it, I gave it. 187 00:09:29,320 --> 00:09:30,080 Speaker 2: I gave it my all. 188 00:09:32,080 --> 00:09:34,960 Speaker 3: Unless they messing up really bad and given what the 189 00:09:35,000 --> 00:09:37,720 Speaker 3: economy is. I mean, I was talking to Issue about 190 00:09:37,720 --> 00:09:41,360 Speaker 3: this yesterday and I won't say his daughter's age, but 191 00:09:41,400 --> 00:09:43,760 Speaker 3: he like, by the time my daughter gets to school, 192 00:09:43,760 --> 00:09:45,240 Speaker 3: because he was saying, you know what, one of his 193 00:09:45,240 --> 00:09:47,920 Speaker 3: friends pays for college in New York, Like by the 194 00:09:47,920 --> 00:09:50,079 Speaker 3: time my daughter gets to college, college probably one hundred 195 00:09:50,080 --> 00:09:50,680 Speaker 3: and fifty. 196 00:09:50,480 --> 00:09:54,000 Speaker 2: A year fact. And I'm like, I didn't think of 197 00:09:54,040 --> 00:09:54,480 Speaker 2: it like that. 198 00:09:54,520 --> 00:09:56,800 Speaker 3: But a great point, because I never thought we would 199 00:09:56,880 --> 00:10:00,199 Speaker 3: have institutions that you were paying one hundred thousand for 200 00:10:00,440 --> 00:10:03,760 Speaker 3: there were not Ivy League. It's more common than people think, 201 00:10:03,960 --> 00:10:06,440 Speaker 3: So yeah, you can't. I think it's it's a mistake 202 00:10:06,480 --> 00:10:08,400 Speaker 3: to throw them to the world and the wolves at 203 00:10:08,400 --> 00:10:11,360 Speaker 3: eighteen or even in some cases even at twenty one, 204 00:10:11,480 --> 00:10:13,480 Speaker 3: especially with the job market being on what it is. 205 00:10:14,400 --> 00:10:16,640 Speaker 2: Yeah, yeah, well. 206 00:10:16,520 --> 00:10:18,720 Speaker 1: Put it in chat. I know a lot of parents 207 00:10:18,760 --> 00:10:23,360 Speaker 1: watch this show. What do you think And everybody obviously 208 00:10:23,400 --> 00:10:25,560 Speaker 1: doesn't have the option to send their kid the private 209 00:10:25,600 --> 00:10:29,640 Speaker 1: school either, But what do you think about. 210 00:10:30,640 --> 00:10:35,000 Speaker 2: The dilemma of you know, trying to figure that out. 211 00:10:36,400 --> 00:10:41,240 Speaker 3: And like I said, every private is not perfect, but 212 00:10:41,320 --> 00:10:44,120 Speaker 3: I know what my parents sacrifice for me and it's 213 00:10:45,040 --> 00:10:47,080 Speaker 3: hand out well for me. Just the people that you 214 00:10:47,160 --> 00:10:52,520 Speaker 3: meet along the way, you can't. You can't say that 215 00:10:53,400 --> 00:10:54,480 Speaker 3: it doesn't have an impact. 216 00:10:54,520 --> 00:10:56,959 Speaker 1: It does. You do have to have a plan going 217 00:10:57,000 --> 00:10:59,800 Speaker 1: into it though, and definitely just your network, the people 218 00:10:59,800 --> 00:11:05,600 Speaker 1: that year around. Absolutely, just the class, froom structure, conversations, work, ethic, 219 00:11:05,840 --> 00:11:09,520 Speaker 1: aptitude because even when I got to college, college is 220 00:11:09,600 --> 00:11:10,800 Speaker 1: way easier. 221 00:11:10,960 --> 00:11:13,520 Speaker 3: When I left bescham No Like high school. My senior 222 00:11:13,640 --> 00:11:17,720 Speaker 3: year was way tougher than freshman and sophomore year, which 223 00:11:17,760 --> 00:11:20,560 Speaker 3: also gave me my blueprint for even this day to 224 00:11:20,600 --> 00:11:22,600 Speaker 3: how to study like the rest in Peace. Mister Biley, 225 00:11:23,080 --> 00:11:26,040 Speaker 3: my junior year US history teacher teacher, he was the 226 00:11:26,080 --> 00:11:27,760 Speaker 3: first teacher that taught me how. 227 00:11:27,640 --> 00:11:30,720 Speaker 2: To study well. It helps me Tuesday. 228 00:11:30,920 --> 00:11:32,400 Speaker 1: And that's another thing that you need from a real 229 00:11:32,520 --> 00:11:34,240 Speaker 1: estate standpoint, you need to be aware of when you're 230 00:11:34,280 --> 00:11:37,120 Speaker 1: moving as a family. One of the biggest determining factors 231 00:11:37,160 --> 00:11:40,160 Speaker 1: on real estate prices in school districts. So for sure, 232 00:11:40,960 --> 00:11:43,880 Speaker 1: and a lot of times people will move into a 233 00:11:44,000 --> 00:11:48,000 Speaker 1: school area that doesn't have a good school district, but 234 00:11:48,000 --> 00:11:49,960 Speaker 1: they'll send a kid to private school. Well, that's another 235 00:11:50,040 --> 00:11:53,560 Speaker 1: added court that you try to already think about factor. 236 00:11:53,600 --> 00:11:56,640 Speaker 1: Then on top of your living expenses, you got to think, Okay, 237 00:11:56,679 --> 00:11:59,680 Speaker 1: I'm not I'm not in that, especially like in the city. 238 00:11:59,679 --> 00:12:01,120 Speaker 2: That's like people move to. 239 00:12:01,120 --> 00:12:05,320 Speaker 1: The city, they're not people all these millionaires and billionaires 240 00:12:05,360 --> 00:12:07,120 Speaker 1: that live in Manhattan, they're not sending their kids to 241 00:12:07,160 --> 00:12:10,640 Speaker 1: New York City's public school. Maybe if it's like a 242 00:12:10,679 --> 00:12:13,960 Speaker 1: few like you know, advanced public schools or like a 243 00:12:14,000 --> 00:12:16,520 Speaker 1: special you know, school of the arts. But for the 244 00:12:16,559 --> 00:12:20,760 Speaker 1: most part, they're paying. They're paying five million dollars for 245 00:12:20,840 --> 00:12:25,960 Speaker 1: a condo in Manhattan, and then they're sending their kids 246 00:12:25,960 --> 00:12:29,160 Speaker 1: to private school for seventy five thousand dollars on top 247 00:12:29,280 --> 00:12:33,160 Speaker 1: of on top of the twenty five thousand dollars a 248 00:12:33,200 --> 00:12:34,480 Speaker 1: month mortgage that they're paying. 249 00:12:36,960 --> 00:12:39,840 Speaker 2: That's levels to it, man, it's definitely levels to it.