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.
Speaker 2: Trump's leadership.
Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
Speaker 1: Under President Trump, attempted illegal border crossings are at the
Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
Speaker 1: aliens have been arrested. If you are here illegally, your
Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,
Speaker 1: and deported.
Speaker 2: You will never return.
Speaker 1: But if you register using our CBP home app and
Speaker 1: leave now, you could be allowed to return legally.
Speaker 2: Do what's right. Leave now.
Speaker 1: Under President Trump, America's laws, border and families will be protected.
Speaker 3: Sponsored by the United States Department of Homeland Security.
Speaker 4: Are you equally concerned about the collapse of we Work
Speaker 4: and what real estate stocks do you like?
Speaker 5: Long term? We Work?
Speaker 6: I mean, we talked about it last week, but once
Speaker 6: a company says hey, it's not looking good for us,
Speaker 6: I would be concerned. The thing that really shocks me
Speaker 6: more than anything is like the CEO's ability to continue
Speaker 6: to raise capital for other projects, which is a privilege
Speaker 6: that we don't have.
Speaker 5: At the moment.
Speaker 6: There are no real estate stocks that I really love
Speaker 6: in the traditional sense. If I have to pick some out,
Speaker 6: I will go. I will lean towards McDonald's and Walmart
Speaker 6: if I'm going through absolute safety. Walmart has a stranglehold
Speaker 6: on the retail space. Then they've innovated in a very
Speaker 6: interesting way over the last ten years and has built sustainably.
Speaker 6: McDonald's you can argue as the biggest real estate company
Speaker 6: on Earth, but anything else that has real estate exposure
Speaker 6: at this moment because of how they value the companies
Speaker 6: I don't love at the moment. Most important thing and
Speaker 6: this is something you shot in the U Stress before
Speaker 6: going back to episode seventy. You gotta take all the
Speaker 6: risk off the table, Like what could I invest in?
Speaker 6: Like if I had to put every dollar I had
Speaker 6: into something, and I'll be safe if I'm looking in
Speaker 6: the real estate space, Apple, excuse me. McDonald's and Walmart
Speaker 6: are the only two that I'm like are rock solid.
Speaker 5: Are there some other ones? Yes?
Speaker 6: But if we work as in Trouble, which they try
Speaker 6: to make a hybrid of the tech and real estate
Speaker 6: model together in a publicly traded company and it didn't work,
Speaker 6: there's some other ones that are going to be in
Speaker 6: trouble as well coming forward.
Speaker 5: And this is the crazy part.
Speaker 6: Rates have not gone as high as they can, Like
Speaker 6: mortgage rates can't go to nine percent for those of
Speaker 6: us that are old enough to remember, like seven percent
Speaker 6: is the median?
Speaker 5: What about those who have bad credit?
Speaker 7: Yeah?
Speaker 8: I mean, and we live in this environment whereas like
Speaker 8: the news is now, right, So when you hear seven
Speaker 8: in a quarter and they say, and that's the highest
Speaker 8: it's been in fifteen years, it's like, oh fifteen year.
Speaker 8: But there were people thirty years ago who were buying
Speaker 8: homes right, like you said, Like the people who don't
Speaker 8: have seven hundred, seven hundred or seven to fifty credit,
Speaker 8: what did the interest rate look like for them?
Speaker 7: So that's a part of it.
Speaker 8: The interesting thing about that we worked there, and I
Speaker 8: guess the transparency is important, right because on Tuesday they
Speaker 8: said they have a substantial doubt about their ability to
Speaker 8: continue operating over the next year, substantial doubt. This is
Speaker 8: like the company is saying this, and so it's gonna
Speaker 8: like when we talk about the effects. I looked at
Speaker 8: the numbers for New York City and like when I
Speaker 8: was on the phone with you kind of heard me.
Speaker 7: You listen to it.
Speaker 8: I'm like, this is our this is crazy. So they
Speaker 8: owned seven million square feet in New York City, seven
Speaker 8: million square feed of commercial real estate. That's troubling. Right
Speaker 8: when we see companies obviously COVID affected, we work tremendously,
Speaker 8: and how the company was run. I mean, if you
Speaker 8: never watched the documentary, go watch that place please. That's troubling,
Speaker 8: especially for commercial real estate here in New York. And
Speaker 8: I mean, I guess throughout the world. When I read
Speaker 8: the report and I heard the article itself, it made
Speaker 8: me think about what we talked about market Money's like
Speaker 8: you said with Dave Gross and we said, what's the
Speaker 8: next domino to fall?
Speaker 7: And the first thing, no hesitation.
Speaker 8: Commercial real estate, commercial real estate. And so hearing this
Speaker 8: report and then reading more information about it, I'm like, Yo,
Speaker 8: this is this is about to happen. It looks like
Speaker 8: this is about to happen. So I mean, yeah, I
Speaker 8: think the long term effects are there. There are some
Speaker 8: stocks though.
Speaker 4: And that, but I mean that's still you said, how
Speaker 4: much real estate did they own?
Speaker 7: Seven million square feet?
Speaker 4: That's not it's.
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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 Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan.
Speaker 2: These are just.
Speaker 1: Some of the heinous migrant criminals caught because of President
Speaker 1: Donald J.
Speaker 2: Trump's leadership.
Speaker 1: I'm Christine Nohm, the United States Secretary of Homeland Security.
Speaker 1: Under President Trump, attempted illegal board crossings are at the
Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
Speaker 1: aliens have been arrested. If you were here illegally, your
Speaker 1: next you will be fine nearly one thousand dollars a day,
Speaker 1: imprisoned and.
Speaker 2: Deported, you will never return.
Speaker 1: But if you register using our CBP home app and
Speaker 1: leave now, you could be allowed to return legally.
Speaker 2: Do what's right, leave now.
Speaker 1: Under President Trump, America's laws, border and families will be protected.
Speaker 3: Sponsored by the United States Department of Homeland Security.
Speaker 4: Over six billion real estate.
Speaker 7: Of course, I'm not saying it's still dropping a bucket.
Speaker 4: It sounds the number sounds bigger than what it really is.
Speaker 7: Do you think seven million square.
Speaker 4: It's not going to affect New York real estate?
Speaker 8: No, no, no, no, I'm not saying that it affects I'm
Speaker 8: saying commercial real estate in general, right, Like that's just
Speaker 8: one company. That's just one company, right, But that could
Speaker 8: be a domino effect of multiple companies.
Speaker 4: Well, commercial real estate is in trouble regardless. But I
Speaker 4: don't think that we work as any effect on on it.
Speaker 8: No, But the question was about we Work specifically. That's
Speaker 8: why I was giving the numbers on we were.
Speaker 4: I just don't think that we If we Work went
Speaker 4: out of business today and they have to sell all
Speaker 4: of their real estate, they will be able to sell
Speaker 4: that in them a couple of months, like probably shorter.
Speaker 4: Like there's there's a high demand for real estate right
Speaker 4: now in New.
Speaker 5: York City, So do you think it would acquire them?
Speaker 5: Because exactively to potential great company, you're staying.
Speaker 8: High demand as in another corporate enterprise coming to take
Speaker 8: the real estate from them.
Speaker 4: Whoever corporate enterprise, wealthy people, Saudi Arabia.
Speaker 6: I mean, I mean we got to and Blackstone and
Speaker 6: black Rock if we're gonna be super honest, mm hmm.
Speaker 5: Problems business fibody.
Speaker 8: So there's there's a couple of real estate stocks, I'll
Speaker 8: run them off. And it's one of those things where
Speaker 8: when we when Warren Buffer speaks, you know, like I
Speaker 8: pay attention to it.
Speaker 7: And so he ran off a couple. So D. R.
Speaker 7: Horton was one that he liked. Kirshire Hathaway bought over
Speaker 7: six million years.
Speaker 8: Leonard was one on one another one took an l E,
Speaker 8: n and then NVR. So those are the three that
Speaker 8: in his V are solid and NVR is another side one.
Speaker 8: But they're also inside of the ETF, the home construction
Speaker 8: ETF it B, which is up twenty one percent. And
Speaker 8: so if you look inside of that ETF the holdings,
Speaker 8: what do you think the top three holdings are the
Speaker 8: three that I just said, right, So DR and LENAR
Speaker 8: and n VR, And so they're positioned in the amazing
Speaker 8: they looking of the real estate space and they're saying
Speaker 8: like these are the three companies, but also look inside
Speaker 8: the ETF that has home construction it TV another place
Speaker 8: if you're interested in and invested in real estate.
Speaker 6: I don't want to offend any of my political connects,
Speaker 6: especially going into investments. But do we think that Blackrock
Speaker 6: buying up all of the Yeah, put it on me.
Speaker 6: These are my thoughts on my musics. This is thanks,
Speaker 6: But do you think black Rock and Blackstone are intentionally
Speaker 6: raising rental unit values to be able to set up
Speaker 6: an economy for just them going forward over the next
Speaker 6: twenty years, because if they bought everything up. Clearly they've
Speaker 6: stated that like this is a market that they have
Speaker 6: a lot of interest in being like the real estate
Speaker 6: real estate rental market, if they price everyone out and
Speaker 6: the collapse comes and they buy everything up for cheaper,
Speaker 6: it's just by design or do we think that this
Speaker 6: is a happy accident.
Speaker 5: Kudos and shout out to Larrything.
Speaker 6: Going back to my talk last week of every company
Speaker 6: has to find a way to be a monopoly on earth,
Speaker 6: to be able to have an edge in the market
Speaker 6: that is sustainable if you really want to build generational wealth.
Speaker 5: I don't think any of this is done.
Speaker 6: Like rental prices have went up, damned the double in
Speaker 6: the last year, one hundred and fifty percent in the
Speaker 6: last three years, and the greatest benefit of that has
Speaker 6: been black Rock Come Black. Soone, Larry Fink, we need
Speaker 6: you to come to invest FSIL next year.
Speaker 5: Please to my put the call out too, Please put
Speaker 5: the all right.
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.
Speaker 2: Trump's leadership. I'm Christy nom.
Speaker 1: The United States Secretary of Homeland Security. Under President Trump,
Speaker 1: attempted illegal border crossings are at the lowest levels ever recorded,
Speaker 1: and over one hundred thousand illegal aliens have been arrested.
Speaker 1: If you are here illegally, your next you will be
Speaker 1: fine nearly one thousand dollars a day, imprisoned, and deported.
Speaker 2: You will never return.
Speaker 1: But if you register using our CBP home app and
Speaker 1: leave now, you could be allowed to return legally.
Speaker 2: Do what's right, leave now.
Speaker 1: Under President Trump, America's laws, border and families will be protected.
Speaker 3: Sponsored by the United States Department of Homeland Security,