459: Your Questions Answered: Raw Land, Debt Mindset, Controlling Repair Expenses
Description
Watch the video of today's podcast intro here.
Are starter homes a thing of the past? Did the Fed just win? I provide commentary and perspective on both.
Hear clips from: Donald Trump, Jamie Dimon, and Jerome Powell.
Then, I answer four listener questions:
Should I make my first real estate investment a new development from raw land?
Does it make sense to sell some rental properties, pay off others, and make my life easier?
My returns are down because my property repair bills are higher than expected. What should I do?
Since the government has high debt, won't they keep printing dollars?
If you have a listener question, ask it here: GetRichEducation.com/Contact
Timestamps:
The state of the real estate economy [00:00:01 ]
Home prices and housing supply [00:01:33 ]
Analysis of home prices reaching new highs, the decrease in new listings, and the impact on housing supply.
Mortgage rates and the future of interest rates [00:03:54 ]
Insights on the direction of mortgage rates, the unlikelihood of rates returning to the 3% range, and the opinions of Lawrence Yun, the chief economist at the NAR.
The Fed's Soft Landing [00:10:31 ]
Discussion on the Federal Reserve's efforts to control inflation and maintain economic stability.
Building Development as a First Investment [00:12:49 ]
Advice on whether it is a good idea for beginners to invest in land development and the challenges involved.
Acquiring More Property or Paying Down Debt [00:19:02 ]
Advice on whether to continue acquiring properties or pay off existing debt and downsize for a more enjoyable life.
The philosophy of debt [00:21:11 ]
Debt can be beneficial and indicate wealth, as seen in examples of successful individuals with high levels of debt.
Managing repair costs for rental properties [00:24:18 ]
Charging tenants for the first portion of repair bills can incentivize them to make minor repairs themselves and reduce long-term repair costs.
Inflation and government debt [00:30:12 ]
Inflation can debase government debt, reducing its value, similar to how it affects personal debt. The US government's ability to print money allows for easier repayment of debt.
The housing supply and marketplace [00:31:30 ]
Discussion on the historically low US housing supply and the importance of staying up to date with the inventory and other elements in the real estate market.
Resources mentioned:
Show Notes:
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Complete episode transcript:
Speaker 1 (00:00:01 ) - Welcome to GRE. I'm your host, Keith Weinhold. First, I'll discuss the surprising state of the real estate economy. Then I answer your listener question Should I develop and build property myself? How do I keep my rental properties repair bill down? And two questions about real estate debt all today on Get Rich Education with real estate capital Jacksonville. Real estate has outperformed the stock market by 44% over the last 20 years. It's proven to be a more stable asset, especially during recessions. Their vertically integrated strategy has led to 79% more home price appreciation compared to the average Jacksonville investor since 2013. JTB is ready to help your money make money and to make it easy for everyday investors. Get started at JWB Real Estate.
Speaker 2 (00:01:01 ) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.
Speaker 1 (00:01:24 ) - Welcome to the area from Warsaw, Poland, to Warsaw, Indiana, and across 188 nations worldwide. And Keith Weinhold in your listening to Get Rich Education.
Speaker 1 (00:01:33 ) - Earlier this month, CNBC reported that home prices have hit new highs again, another up just slightly year over year, though the popular sentiment is that by now people have gotten used to paying 7% or even more than 7% mortgage rates and higher rates. That puts the squeeze on housing supply. I mean, gosh, within this era of already paltry supply, I mean, we're talking about direly few homes in some markets here. Nationally, new listings are down 25% from a year ago. All right. Now, that's all national stuff. But look now, just over half of the nation's 50 largest housing markets and they're mostly in the Midwest and Northeast. They have either returned to their prior price peaks or they have set new all time highs. Annual home prices are still weaker out west, but even some of the Western markets has slumped. They're now seeing month over month gains. Yes, we're talking about gains now even in San Jose, San Diego, Los Angeles, San Francisco and Seattle. Now, look, our starter homes, a thing of the past.
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