Latest / CrossPolitic Show / The Secret To Beating High Mortgage Rates w/ Story Real Estate
Transcript
- Hey, oh welcome across Baltic 101 with the water boy. It's good to be with you of course We got some corporate partners in the studio. It's so glad to have you guys before I get into Chris and Jordan And sorry real estate and what they are doing. I want to first guys bring you up to date on Patriot mobile Page your mobile if you guys don't do you guys want to pay your mobile cuz you show you bad after this plug You're gonna work with page your mobile. Let me just say that every dollar you spend supports either your values or works against you With patron mobile America's only Christian conservative wireless provider You can make a difference without sacrificing quality patron mobile offers Exceptional nationwide coverage by utilizing all three major networks, you know AT&T Verizon You know those those guys the big guys they use their towers. They don't use them. They use their towers Stay connected with flexible unlimited data plans mobile hotspots. I mean they do it all okay Switching is easy. It actually is because one of the things I'm They actually have us base customer service in Texas and California I mean like I mean I text with my my customer service gal like hey, I was flying to Mexico last year in a sex or hey, we put my phone on a you know international was like boom done It was awesome and it wasn't in different language. It was in English. It was amazing So you have space customer service Switch to them mobile blah blah blah visit patreon mobile dot com cross-politik Patriot mobile dot com cross-politik and they always have some sort of discount if you go to that Patron mobile dot com forward slash cross-politik So make sure you go there or if you call them nice have a two-patreon You know mention cross-politik and they'll take care of you real well I know not all the customers service there. I know a lot of leadership there more But they really like cross-politik. They'll take care of you guys like get over there You know I started that journey. I started following patreon mobile because of cancel culture And I was thought they were gonna come eventually my cell phone was gonna be tapped or canceled or something And so I was like I need a Christian company that I can trust and I found patreon mobile to see your glens It's all Christian brother and good stuff man. Go go go to them. All right Story real estate. Have you ever experienced it? I need music for this or something I don't know. Have you ever experienced a workplace? That's like an out of tune orchestra. I'm deaf and one year So this metaphor doesn't really work well Maybe you're in one right now one thing is for sure a dysfunctional workplace is absolutely draining Now we have an opportunity for you to escape the chaos and join a tribe that as as invested in your successes You are I'm talking about one of our partners one of our core partners at cross-politik patreon not patreon mobile I That story real estate here in Moscow story real estate here in Moscow go to story real estate.com And then click on menu and actually join Their team join our team at story real estate That's an interesting ad that you guys gave us to read So why is it so important? Because I mean you guys want to sell houses. I'm gonna say make money. Yeah Why are you giving us that ad to read? I'm actually gonna start here with this. Yeah Your target market is who we love to work with Not only clients, but within our team Kingdom builders people who are kingdom minded Man we believe the man is made to work that it's part of our dominion calling that it's not just we Work to be able to not work later. So we're passionate about the work that we're doing We're passionate about building the kingdom in Moscow and across the nation in the good work that we're doing And we want to partner with other folks who are so like like mine and everything absolutely So everybody you guys know chris and Jordan they've been on the show a number of times over the years But things change with you guys So Jordan I think the last time you were on the show You either just had a baby or the bun was on the oven and almost ready to come out kind of Watch you tell our listeners about you and in what's going on with your family life give a little up And what do you do and all that jazz? Yeah, yeah, we'll start with family. So Have one daughter to your old Genevieve noble just turn one and we've got a third on the win coming Fall so for a very brief period of time for girls number three or three is a boy. Yeah, noble needs someone to wrestle with He's ready to go So yeah, the for November and December we will have three kids to an under so it's gonna be a party Okay, man, yeah, Chris Yeah, so Similar but different Married I've got four kids Seven to one and one on the way Um five number five coming in September So huge blessing yeah, yeah, we recently moved out on a property kind of similar to yours two acres just outside of town Yeah, so we're starting up the little carpenter homestead Those videos I've been saying Okay, it makes sense like I don't care what Chris is doing in this suburban home But now that I know he's kind of out on on to make bridge, okay? Yeah So got our own little slice of land slice paradise. We're excited to make it our own and kind of build a homestead and that's cool productive property Is are you on a well and all that yeah, yeah, yeah, yeah, is your water very irony it is very Irony So I've never I was thinking about this interview and I don't think I've ever asked you this question on our on our show And I don't think I've ever asked you this question personally Um, you moved to Moscow actually to go to Gray Fires. Yeah Which is our pastoral training program here in Moscow Um, you and your wife were newly married your new to Moscow you're from Santa Cruz like you know sunny to not so sunny At least in the winter yeah, and um, and then Obviously you had ministry desires, but then you ended up eventually starting story real estate I mean tell me what you can about what you want to tell me about that journey I would love to hear actually why you got into story real estate out of Gray Fires Yeah, absolutely. Yeah, I have a similar story to a lot of folks that moved to Moscow which is you know, I grew up Public school my mom's a Christian my dad's not so I went to a public school all my life kind of grew up in the church But wasn't super serious about my faith went off to college In Los Angeles got involved in campus crusade for Christ really Had a revival in my faith and commitment to the Lord and a deep passion for ministry So I was kind of and and in the midst of that my theology was becoming more more reforms throughout college Uh, so I ended up googling reform church in Santa Cruz at one of the summer breaks I ended up at a series his home base. Yes. Okay. Yeah. Yeah, so I ended up at a CREC there at the time I was this was after my junior year. I was considering going to Seminary after college, but I had no idea where so One of the elders there was like oh you got to check out Gray Fires in Moscow, Idaho I was like what the heck where I've never heard of that But my wife and I got engaged our senior year came out and visited Had a parish or a Sabbath meal with some of the folks out here fellowship sat in on some classes and was like wow It's an amazing place Couldn't imagine like it be a massive blessing to raise a family here get plugged in so graduated from college moved out here Jumped into the Gray Fires program absolutely amazing program It wasn't the right time in our life for it. So I did the first year of it After the first year I withdrew Got a job at MZ where you were at I think at the time and worked there at the time Yeah, 1415 right there. Yeah, um great company at the time. It wasn't the right fit for me You know it my job. I was in the finance department that corner. It was your classic cubicle job I'm gonna sell documents all day never seen the light of day and My wife randomly gets into real estate. She starts as an administrative assistant at the office becomes a real estate agent She's out showing properties meet new people and I was like man that looks like fun. Yeah, so I get into real estate with her and we start to build the business together at at that company The culture and that's kind of the ad right. I think work work culture has a massive impact on your life That you you can't dichotomize. Oh, here's my work over here. And here's my life over here. They have no impact So the culture there wasn't the right fit for us So we decided to open story real estate and really build it on a simple desire. Hey, I want to do good work I want to wake up every morning excited about the work that I'm doing yeah with the people that I'm doing it with and That vision has developed over time But it's also remain kind of the foundation of partnering with great Christian individuals to do a good work here on the police and across the nation and Yeah, it's been an amazing journey sense or vision Has continued to develop and grow our ambitions have grown with that, but it's fun. Now here's There's a problem here that I don't think you know about yeah Right Jordan Right Oh, no Jordan used to work for me I got you Jordan helped me produce the bathroom video that went viral. Yeah, I was NSA's first video Shot You were so hard to Jordan I was like go outside that public bathroom down there have a guy working walk into a guy bathroom I'm gonna grow walk into a girl bathroom. No words No words. We'll put the words up later and you know the shot. It's great. Yeah great. Great shot You know almost a little like Napoleon dynamite Kind of shot, you know static and everything was really good So anyways if you guys didn't see the NSA bathroom video go check out that ad it went viral it had our mayor Amosco Wrote a public response to that ad because he said we were being hateful Yep, by having a guy walk into the girl guys bathroom and a girl walking in the girls bathroom He built those bathrooms If you look at the male female son on it. It's super clear Which one is you know a female it's hilarious and he called us hateful. I mean That's how hilarious our liberals are in town, you know So anyways With uh, so I want to talk about like not just the real estate market and housing um I do think these topics are something we need to be right-go-to thinking about I mean the obviously the current issues to everyday families right every Every person's gonna need an apartment or rental or house or whatever over time And they need to understand what's going on And as I kind of me knew or talking yesterday Um, I was trying to ask Chris his opinions and thoughts and it kept back to me. I kept going on On it wasn't wasn't very wasn't the more of a dialogue than I actually wanted it to be Is my fault not Chris's because Chris can talk. I mean, it's not it's not they can't talk but anyways Um just thinking about Let's let's start at the 50,000 foot level and work our way down What's your current view of the housing kind of Talk nationally and then zero down in a Moscow Idaho. What's your current view of the housing market? You know, what's going on rates, you know Economy as it tied the housing market that kind of thing yeah, it's it's an interesting time right we just um We just celebrated America 250 The American dream is home ownership you got your house You got your wife and kids your white picket fence. It's it's the dream and I think it's become harder than ever To get it not impossible, but harder than ever and we're in kind of a Funny place when it comes to the economy right now as you know inflation's up Uh prices are high when it comes to homes Interstrates are high when it comes to your monthly payment and everything else Cost more right so people are feeling this squeeze When it comes to their ability to live their ability to Get ahead I was thinking about I was talking to my dad. He visited a couple weeks back and he was telling me Based off of his observations what he's been seeing and he shared when he bought a house his first house The normal, you know median house costs about two to three times the annual household income And now it's two to three times the annual cost so you're making you know $50,000 you're looking at a hundred and hundred and fifty thousand our house yeah And today it's four to four to six times so it's essentially doubled in the last 50 years or so similarly um So put that in you know again if you're making a hundred thousand more house Um, you were spending four hundred to six hundred thousand dollars on on the house yeah Yeah, and it used to be that people's uh, that their take home Uh out of their paycheck, you know 20 to 25% of that went to their mortgage payment But we're seeing these days is it's more like 40 to 45 percent so it's doubled again So people are just feeling this squeeze. It's harder than ever to get in get ahead and the Fed who functionally um who functionally Orcas rates the mortgage interest rates based off their federal funds rate Uh, they're kind of in this bind because uh, inflation's high. Yeah, usually they would lever the uh, the interest rate right um, but the economy's also somewhat weak So they're kind of in this excuse me not loosen tighten right they would tighten For inflation they tighten yes, and then for a weak economy they would loosen that's great to put some money in So we have both of those factors high inflation economy's not not very strong. Yeah, so it's a tough place I mean since since this the peak in late 2022 It's just kind of plateaued interest rates have uh, just bobbed and and flowed between six and seven percent prices have remained fairly high Um, and it's just a challenging place for a lot of people to beat Jordan are you jenzy would you be jenzy we were literally in the car coming over talking about this I don't think I am I'm right on the edge. I'm 97 okay Um, but for you graduate at high school. That's that's how old don't think too much Yeah, but the distinctive here is that I didn't have a smartphone in high school Well, all my friends did I think that distinguishes the generations a little more so I got a smartphone halfway through college. So that's that's where I was at that's that's funny You guys never knew dial up internet actually I did you do that's the weird thing too I remember that because I'm your dad's like I'm gonna torture my kids I'm longer for longer. I'm not the tail end of so yeah, so Chris is dad and my dad are the same age Okay, there's a weird generational split so because Chris if you don't mind you're you're 40 Yeah, 34 34 Jordan, Tony 29, so like what? I mean, I've got to be like your age and demographic that's hitting that's getting filling this the worst yes Um, do you have you bought a house? Yep, okay. Yeah, I'm house. We're living there now Um, it was run down. It was terrible actually try to get three clients to buy it No one would and so I was like well I'm gonna talk to my brother and see if he'll go on down with me and yeah, you know We'll renovate it and it was a nightmare. It was a terrible property. Oh, we just got in it We're but that's part of the problem is you got to get into starter house and that starter house could be Best up. Yep. Yeah, and we we currently we rent part of it We air be part of the house and my wife two kids third on the way are living in less than 800 square feet And it's no wow. I mean for us. We're like this is just what we're used to yeah, right But that's part of the problem is the it is difficult and there's the expectations of my generation where I meet with like friends I went to college with and when we first meet they're like yeah like two thousand square feet three four bed two bath Yeah, got to have plenty of space for people to visit and hang out and that's just not needed gas bedroom Yeah, that's not reality. So it's half of my job at this point with my generation is Shifting expectations and what they're looking for and then actually building the plan for them to get there because it's still hard work Even when you adjust expectations. I was talking to a friend who's um he owned something like 200 units of Washington And then some other developed uh properties other place. I think mostly Washington right now But he's literally trying to get out like but when you got 200 units you got 200 units You can't pack up and move that right um But he was he was telling me you know really our foundational Kind of interest rate cash flow economy problems go back to when we sever the gold from the dollar right And so okay fair enough Like I think most of us would agree with that And just in terms of like the big idea But but then and then there's a bunch of stuff that's happened over the years That has affected the economy and stuff But really I think we're kind of in this new like 2020 churn kind of a corner Right You know and I know a lot of what's happened since 2020 is got us to where we're at right now right so of course The dollar on the gold thing is a problem But but since 2020 You know we had the this one thing that bothers me through Republican parties like like if we want to rule We need to be Faithful and true and not liars What happened in 2020 um Republicans passed two stimulus bills and then Biden became president and Biden passed a third So there's basically three stimulus bills that were passed when within a year of each other um And I think it totaled to something like eight eight billion dollars or something like that And of course we all got a little piece of the pie or whatever very small piece Um, but you give out a bunch of small pieces that's gonna impact inflation And that and so part of our inflation problems are directly Connected to inflation when you choked the workforce Made them stay home whatever you gave people a bunch of money um and and so nothing's being produced because the workforce are or limited Activities happening and being produced and so and you give more money Well, basically inflation is the difference of how many dollars in the economy and how many goods are out there and available That's rough Rough way to think about inflation and so we gave all these extra dollars Uh, and our and limited the ability to produce goods and services And and then the Republicans are trying to blame the Democrats for our current inflation problems I'm like and and it's just it's just a lie Like no you guys did this together You danced well in fact if if anything Republicans did two stimulus packages Democrats did one of course they all voted for it so Um, regardless Democrat or Republican they they're all in they're all in favor of giving us more debt That's like amazing like if there's one place they agree is like more that Out of people right um, so we have this inflation problem and then you know uh at least to Moscow We already had a difficulty of building houses Whether it's through our city council regulations or whatever um, you know big developments aren't big cash cows here Like they would be in like boys here something like that So we have a limited ability in Moscow and so uh our Uh, you know goods our houses are limited Flation goes up and then you add the the real the um the interest rates they're talking about Um, I bought my house Um, on my little farm. It's a I still have the receipt. I think I told you this shortened Um, for as a serious catalog 1915 house 1915 farmhouse still is catalogues still got the receipt this is amazing And but I bought it in 2015 when there was a year It was on the market for a whole year now it's also it's also not the best house There's no bath it's old farmhouse no bathrooms upstairs right no plumbing upstairs Kind of saying so there's some you know Courts to it that makes it little difficult for a family um who is growing and you need extra showers and all that stuff kind of stuff um But my interest rates on that are like 2.8 or 2.75 2.85 something like that I mean it's like in 10 years. It's free money. It's almost is one of this That's how that's how crazy is so but now interest rates 6 and 7% like you mentioned so I guess with with that kind of backdrop How are you guys coaching people to think about the real estate market? I think there's a lot here. Oh love your thoughts. Yeah Yeah, it's it's hard because I think Three things happen. There's people in your situation who have a super low rate and they're like how could I ever sell? Why move why move and move to a 6% and move to a 6% right? I got to step up a ton even if life Circumstantially, maybe they should You've got folks who missed the low interest rates now they're thinking how can I ever buy because uh, it's right You know the low interest rates push prices up now. We've got high interest rates and high prices. How can I ever buy? And then you've got the third person who you know, maybe they own a house already, but they're thinking How can I help my kids? How can I help build a legacy? When it's so hard right now So people are just facing challenges and I think the default Mindset goes one of two ways and my it goes one of two ways the first one is a victim mindset where um, you say hey, this economy isn't my fault. Therefore, I'm not responsible for it. Why is this happening? I can never win. I can never get ahead And you just uh, you just draw back. I can't win The second one is popular. I'd be interested in your thoughts With the younger crowd with the younger community. They're kind of taking what uh Charles uh, Klaus Schwab said with the world economic forum. He said you'll own nothing and you'll be happy about it And they take this transient nomadic lifestyle where they're renting Ubering everywhere, traveling, spending all their free time and they just live as nomads. So you either have the mindset of I can't win. How can I ever get ahead or you have almost like giving up like great. I'm not even going to try I'm just going to serve myself. I'm going to travel around. I'm not going to be rooted to a place Uh, and I'm going to live for myself. Yeah, interesting Jordan You any follow up? Yes That's it. And we see that constantly uh, with people. So there's actually someone who listened to the show last year And we gave three points of kind of what you need to do To get out of that mindset and actually pursue property And he took that advice He actually moved to Moscow Yeah, he got he got a place here and he was looking for he got a job Couldn't get the house he wanted So we got him a condo But he's renovating. He's gonna rent out. Yeah, he's killing at his job following all the things we talked about last time And he's gonna be able to buy a house in two or three years Keep the condo. Yeah, which is yeah, and just keep moving forward. My biggest regret I was I wasn't um able to do it financially, but um, I had to do plex and then I bought a house kept the duplex for a little bit sold to duplex because I need the money That's why you always do it right? Um, then bought the house that I was in and then bought the other house and then sold that house So I could um have some money to be able to you know, um I think get into that house or forget maybe pay off dead or whatever Um kind of thing, but like man, I wish I still had those two It's a duplex and in the house that I loved them both, you know, especially as I the duplex is our first meme always first Place and everything so you know you you get what's funny in in this world I think you get a lot of sellers remorse with guys like me Usually you talk about buyers remorse, but like sellers and more It's don't don't do don't be me. Yeah, that's what I'm saying. That's what I'm saying Um, so You know one of the things that has a huge so In my lifetime So I was born in 79 my dad's generation Was you know kind of their parents came out of the great depression Um, it's on my dad's generation, you know job security was like premium Like get get that 35 year 40 year job get that pension built in that job Kind of thing and so that's why my dad's generation. I mean they worked for one employer for 35 years or whatever Um, our generation is like there's you know, they're flying all around the place of different employers Um, but with that Um, it came the mentality that you move for job You know my dad moved Got a job at Intel in New Mexico move the family in Mexico my dad got a job for working for a buddy a year later back in Texas He went and worked for him and then my dad got a job of Hyundai semiconductors in EG in Oregon So we moved the family back up to you know, Oregon that kind of thing So we moved first and foremost for jobs now when I get in this conversation people always ask me, you know Why should I move or or how do you think about moving if do I should I move that kind of thing? I'm always The order I give them was like you move for church then family um And then uh work job now of course sometimes those are all mixed up and different and all that That stuff is sometimes you have to move for work and you can't whatever um But since 2020 and I think this goes into how you think about buying a house now since 2020 It it changed why people move So and it was already starting to happen a little bit like people are moving to Moscow because there's a aligned community You know good church good school stuff like the people are moving for the community Um, so stuff like that was already starting to happen but COVID like really lit that on fire after 2020 More people than ever were moving because a line community They wanted to move to a line community area and stuff and kind of things Um, and I think that's the most healthiest way to move yeah, right and the most healthiest way to buy a house build a house build now You're thinking I'm like okay, let's say Pricing is a little high right now um But I don't part of me doesn't really care about that in the sense I mean, I want to get in the house to want to buy a house that kind of thing But what I want is I want that house for 40 years And I want that house for for me to build with my kids For the next you know 40 years in the stand on 50 years long life god god gives me kind of thing Um, so I mean, this is you know, basically what we're talking about is more like a covenantal vision of like yeah Like establishing yourself buying a house thinking long term that kind of thing because even if you know Again, even if mortgage rates are a little high six percent or whatever Well, what six percent in 20 years Like that your mortgage is actually probably pretty low given the way our economy functions right um kind of thing And so if you think more long term Uh about where you build Um, it's going to be a healthier decision. It doesn't mean it doesn't mean it's not harder or the sillings higher to get you know The sillings higher or whatever threshold tire kind of stuff, but like How does That how's that go into Jordan really kind of the next generation It then sound like they're thinking as long term the next generation talking about they're driving around all the stuff and they're living off Uber eats or whatever. Yeah. No, that's exactly either people for your hopeless because I can't get that five acre property In the next two years. So just gonna throw it in my hands. Yeah, not even try Um, or you have people who are pursuing it and it's just farther out than they want where that's the common thing you move to Idaho You want two or three acres Uh, and you'd like to get in next two years and usually the conversation goes. Okay, let's get you something small Let's get you that duplex first let's get you that condo first and build there and when you run the math and Pull away from the emotions a little bit like my my house is worth like two or three hundred and fifty thousand right now When I my mortgage is paid off which time is on my side when I'm sixty it'll be worth statistically over a million dollars That little in town eleven hundred square for now. Yeah And even if I don't get the acreage in my lifetime that I like for that generational living My kids could yeah like they they could have the baseline they need to make that play yeah And I just don't I don't think people think generationally think what can I do Right now to pass on the acreage to my family were frankly sometimes it has to be a longer time for you. Yeah, so yeah, I think that's the biggest issue And so Well, I guess with that in mind like how are you coaching people to think through Um, I mean No one's feeling that good about the economy Yeah, you know, I mean Apparently now Moscow is different boys. He's different Idaho's a little different But most dates are doing kind of similar to Idaho right now where housing prices haven't I mean maybe they declined a little bit In Moscow have they I don't know ever so slightly but not a lot. Okay, so just like it. Yeah, yeah Florida I heard it was like 15 20 percent. Okay decline Florida Apparently also their vacancy rate is higher Even then like I'm my buddy. I think a reference already on the show. He's got 200 units and Washington and his vacancy rates like 6 percent Star lane thing. I mean, that's almost like zero in that world um So how are you kind of coaching people through? Um to think you know, I guess I guess the the encouragement part of this is to think longer term like Like build when no one else is building. Yeah, you know go ahead Yeah, when it comes to coaching clients and what we really do for ourselves is that we have a framework within story real estate Uh that focuses on three things mindset skill set and effort and we talk about two negative mindsets right that might be holding people back whether it's real estate or whatever else of getting ahead And the first thing is checking those Mindset is that biblical and is it profitable to hold? I would argue both of the ones that I referenced the answer is no It's not biblical no, it's not profitable. Uh, it's not biblical to be a victim when we are victorious, right? We're we're post millennial Our god is the god of the universe our king is the king of the world He owns the cattle on a thousand hills and um You know, he gives good gifts to those who ask of him right so so that's the truth We have to anchor ourselves in the truth and when it comes to the nomadic lifestyle I was reading C.R. wilde's man of the housebook Yesterday and he talks about rootedness how valuable it is to be rooted Psalm 1 Uh, the righteous man is like a tree planted by streams of water He's rooted there, right? And there's value to be rooted in a community in a people It gets you more involved in your church community your civics All sorts of things So I would reject both of the negative mindsets and reframe them with proper theology right starting with mindset the second one is skill set You know you you may need to improve your skill set whether it's in your work in your knowledge Um Whatever it is, but grow your skill set if something needs to change you need to change first right and then effort You might need to up your effort the the plan that we referenced last time we were here Takes a lot of effort. I'll say it again because I think it's profitable. We had Folks do it from last year um But the plan that we talked about was you know step number one is Provide massive value to your employee your goal is to provide so much value You got to get raises they want to pay you more because you're providing so much value get get up to the median household income in your area If not above then You You kind of you do the Dave Ramsey you live like no one else now So later on you can live and give like no one else. So Tied 10% save 10% in a down payment fund and then live off the rest live off of 80% 20% it's gone mentally um And then with that ability you'd you with doing that you'd have the ability to purchase a new house while saving the last one Uh every three years median household income median home price in in any area across The nation Uh, so then you have to apply the effort to do that. Okay. I'm going to work harder at my job. I'm going to Sacrifice make compromises as to what I'm getting into to to start. I'm going to level up over time But that's usually where we start we start with mindset skill set effort Develop a plan so that people can win because people are winning I think we're living in reality as as the fact that it is harder to get ahead now um But people are getting ahead and people are winning so how can we make that be us? Yeah, yeah And and what's um so what do you think is going to happen like This next five 10 years with the housing market and I mean I see you could include interest rates into that too Yeah, I mean big who wants to handle this Yeah I see very clearly Yeah, it's really the best predictor of the future is to look at the macro in the past I think looking at just between now and covid that's just not a good slice It's just such a tumultuous Even though it's had a big impact on our housing price right now Yep, yep exactly, but if you look at the last 80 years we've had lots of recessions in that time You see a consistent 4% trend line Depending on the area you'll be 5% above that 5% below that but we're on it right now And even though prices feel high it's not Thirdly high like it was 2007 worse 20% of that trend really right, yep, yep, so um so I think people now is the that was the The crash that happened following right and that the unique thing about that economic crash is it was caused By the real estate market The other crashes that we've had in the last 80 years that weren't caused by real estate It affected people's ability to buy But appreciation actually didn't slow down Other than the crash in 91 they actually went up almost got more expensive Because usually lower the interest rates Yeah to help the economy at that point So I don't think people should be banking on a big crash If it happens and you're hustling at your work and you've been saving In your time to set up well the purchase But I don't think you should wait around for something to happen to you Right, so I had a guy Client actually his last year he just had a change in mindset Where I'd met with him five years ago and he said call me when the crash happens Doesn't happen doesn't happen doesn't happen he missed the 2% interest rates And then last year's he missed him oh yeah Come on And then he's like you know what I'm just gonna apply myself like nothing else to my work Get dedicated he changed industries And then just put all of his time and effort into work And his salary literally doubled within 12 months And he he compromised and what he was looking for and he got a great home just a couple months ago But that's Right But he's able to do it within his means because he pulled that other lever of income value to your employer Now he's very employable Other companies were trying to get him. Yeah. Well, what's funny is like 6% like that's what I bought my first outside It wasn't it wasn't crazy. What are the rates out right now? Six and a half six and a half yeah, have they dropped to five this last year at one point I thought they're like 5.5 this last year Not quite that low we we scraped maybe 5.8 Couple days. Okay. Okay. If you happen to buy a house a couple days, you know you hit pretty good We've been really steady between 6 and 7 4 Yeah now Oh I heard this number going around That the cost of let's say building a house 25% of that cost is gonna go to the government for various permits regulations Things that you have to are required to do Um by the government um is that 25% fair Yeah, that's that's what I've heard from builders 20 to 25% okay. Yep and and so what what's amazing to me about that Is that you're paying 25% To the government and it's not adding value to the beauty and quality of the house So you 25% of your money is going to government But it's not adding to what you're actually buying this is right now I point this all on on the college side of things like everyone chooses what college to go to not based off the professor in the room Which is supposedly the value of your education is what you're being taught But they choose it based off the rock climbing wall whatever that they're never gonna have four years later I want to say leave the campus Um what a dumb way to think about it um so That's a um I mean there's there's all sorts of problems there but part of Part of we we constantly seems like we're making it more and more difficult to build developments to bring housing prices down I mean our city council just did the silly um kitchen thing Um, which is gonna make it more difficult for for the duplex side and and I mean obviously use Builders for getting around the coast I get what's going on and I think yeah, I mean I'm not gonna go there right now I I'm all for getting around silly government code that the city council has no clue in what they're actually doing and then they do it and the name of safety and health I'm getting off I'm getting off This is a local city council thing that just happened recently and you know they do it in the name of safety and our state And I was just like guys you you bleed six standing six feet apart was for our safety like whatever you know I So so you know I guess kind of help me out a little bit here you know the real estate world wants to sell me a house and I'm helpful for and I'm grateful for you guys What is the real estate world maybe doing to help us like kind of fight some of the challenges? That are out there. This is a question I did not tell you on the phone. I wanted to do it live here is um is because um Part of what makes me Um, trust a company Like whether like story real estate or whether it's you know car on buying a car whatever Paroies me trust companies they recognize and they see the challenges that are in their market And then maybe they're even trying to do something about some of those challenges. They can't you can't do all things right um But would you know how how what are you guys what's the story real estate doing to kind of help with the challenges that are in the market Whether high interest rates government whatever 25 percent whatever's going on kind of thing Um, we'd love to hit you live with that question. Yeah um, yeah, I think a big portion of it is influence what type of influence do we have on our local government and I think that That comes from two or more ways right one is owning property right that gives you a voice in ways The second is involvement right if you're going to city council meetings if you become a regular name and a regular voice Like eight nanderson, right? He's he's there all the time. Um, you have much more influence with that type of person So that's something that we're seeking to do you know, we work with builders we work with developers I'm often at those rezoning meetings with them standing up saying why this is good being a Hopefully a positive voice in the right direction and I think more and more as Christians lean into that um, we'll have more more influence. That's good. So you actually go to the zoning meetings. Yeah I'm going tonight Because you have a client or you just no, I'm going to just understand how things function played a long game and hope They have a positive impact in the long term. They will really good what we've seen Not as successful is When you just show up when you're mad about something. Yeah, I don't go there for five years and then something happens And I'm up in arms. They don't know who I am. I'm just a you know a voicey app in a way You know telling them they're wrong. They ignore you and then they move on with what they plan previously But if you're there consistently you're building relationships you're building influence and report with them over time Yeah, that helps yeah So gosh the zoning see you aren't even going to say council meetings You're like before that going to zoning meetings and all that stuff right how long have you guys been I sure Am you guys probably share the loads each filter goes one night or something yeah, we're not that structured Okay, that would be awesome. Yeah So yeah, it's just going when we can the committee meetings We found at least in how our city is structured the committee members have more influence than the city council in some ways Yeah, they're the ones proposing the changes uh-huh and then disseminated to council So when that zoning thing was was past uh-huh that's something the city council had been talking about for over six months They're not going to hear a two-minute talk from someone they've never changed their minds. Yeah They've been I mean seriously investing in thinking this is the best option. Yeah For six months. So you've got to be there way earlier in the process if you actually want to be seriously considered yeah Wow, so what have you learned from going from to the zoning meetings? I mean, I'd say one is When it's just when you're just going for the things that you're mad about it's easy to frame the intentions of the person um, but they're working with the information they have and they're trying to do what's best for Moscow genuinely think they're doing what's best Yeah And so part of it is a level of they are putting a lot more time into this and I am uh-huh and I could actually impact them By just having a conversation and getting to know them. I'll say one thing here um, you know when I saw the whole city council the The zoning um ordinances come up to the city council and there's last Monday the meeting wasn't I wanted to go I really did I'm Um, my schedule is just insane. Yeah But what I do appreciate in all this is that the people who are directly involved in the industry are kind of going on my behalf You know um, so where you guys not just dealing with the economy and the clients and stuff like that But you guys actually getting involved with what's going to affect you. I really appreciate that You know, I think the builders get more involved and more pressure on I mean Uh, the you know, whatever industry is there should definitely be more involved in the politics that's in front of them Um, because me, you know, it's like I'm not I can't be all things to all political issues And I can't go to every city council. Whatever. So you guys doing that. I think is actually um Uh, a good marketing thing for me. I would like uh, they're they're they're really concerned about the housing problem in Moscow Like I'm gonna work with the people who are concerned about the problem Even though I know you know, interest rates are higher housing costs are higher whatever Well, and that's part of going back to the rudeness to I'm I'm hoping that my grandchildren great-grandchildren will be here in Moscow Yeah So if I go to a city council meeting, they're not listening to me. It's like that's frustrating What can I do for over the next five to ten years for them to start listening to me? Maybe they don't for a year or two Um, but if I can start moving the needle so that in 50 years the cities in a better place That increases the odds of my grandchildren being able to stay rooted. Yeah, that's right been transplant somewhere else and that goes back to just long term thinking I mean, it's like you're gonna build in this area like You know think long term about your city council about your zoning board about everything that's going on around you um, you know How's talking to how's being interviewed right now liberal reporters come every other week to Moscow to interview us about something or dog about something or whatever I was being interviewed by a liberal reporter um, you know Bad all the stuff It's and it's also funny some of the stuff that comes up you're like oh, okay, we're gonna talk about this really okay Um Pretty funny. I don't even know how's going with this little reporter anymore No, I was talking about we're kind of talking about just like long-term, you know, covenantal view Of of just building community like and not being that guy that screams at fox news every night You know being the kind of she's that that's what she's asking me like what do you mean by fight left feast That's the tagline our show and our our network What do you mean by fight left feast and you know well We developed that phrase theology because we thought it was kind of a mantra that the that that our generation needs to kind of Take on We need to fight well not just with each other in the church our charpons aren't but fight against Satan and the devil and all the Well wicked stuff that are going on this world. We need to laugh the joy of the Lord is our strength. Um, we don't Watch Fox News every night and scream at Fox News, you know, like um You know, I mean God God's the most amazing God and it and and One of the Sometimes it's hard to get your mind around That he's full of joy and he's full of laughter and he enmits. I mean I feel like my sins a burden to God like I'm sitting against my father whatever But he sees all eight billion people and he's still able to find Um an angle of joy and laughter in his creation who's really messed up And and so laughter I think is is really important how we think and then of course feasting I mean like like What better way to build family culture around food and goodness and joy and good smells in the house and happiness around the dinner table And of course what way to build community Then feasting um And so you start all of a sudden when you start thinking I think I would say more coveninally Uh some of these short-term problems that we're dealing with um, it's not that they don't go away. It's not that they disappear Like um because I would I Like It's a funny group in the PCH church I grew up in the pressuring church and like the word covenant you only heard at the Lord's Supper or something that we did once a month or something Right, you know the quarterly Lord's Supper or whatever we didn't we did monthly And then I came here and I started like you start reading And seeing the covenant in scriptures and and then becomes like whack-a-mole like all of a sudden I mean the word covenants mentioned like 300 times in the Bible and it's just all over the place and you're like oh my goodness God really cares about this But then that then you start thinking coveninally not just reading you start thinking the way God wants you to think about generational faithfulness and You know, I my house. I got I got 10 acres on my house and in my house at this 1915 farmhouse I already said But I want to I never thought of this never thought by when I bought the house I wasn't thinking this way, but now I'm like I want my I want to build my kids house on this corner of the problem Kids house. I got three kids, you know, I'm on a build and and I don't care what the county tells me I'm gonna build them houses for my kids for my kids I'm fair what zoning regulations you're gonna say that don't work because they do work I cannot legally comment on that You guys you guys understand me talking Uh, but my point my point my real point is is You know now I got this property in it. I don't have money, but I have land Then I can give down to my kids and so as as we think long-term all the all of a sudden you're gonna start seeing things that oh wow I do have this I can't do this for my family. I can't do this for my kids in my next generation and it um I've used this illustration on the show before where my dad when he left the house his parents gave him a bike And then where I left the house my parents gave me a car and then hopefully Lordwone when my kids leave the house They don't have a mortgage payment. I mean Talk about setting up the next generation in a very beautiful way Mm-hmm and talk about all the problems with the housing economy disappears for them Because you are faithful and where you're at right now and this is I mean What what better way is like this is why like As people think about this and listen to the show. It's like That's why you need to think about buying a house we're talking about cars we're talking about we're talking about something that really is generational In the family and and could change your kids' lives Um, which is you know how I'm starting to think about my property When I recently bought it in 2015 my my kids were you know three two and one or zero You know and I can't even I can't even think straight for Three months after my Last son was born because they were so close together and hard to go. You see Um, yeah any closing thoughts kind of on that on that point. Yeah, that's really good I'd maybe add one more thing that people don't always think about is Your a man's name is better than the greatest riches Right and sometimes being rooted means that you may you may not be able to pass on a house to somebody Maybe you can do a bike or a car. Yeah, but something else you're passing on is your reputation Your family name town and I think you've seen that with families that have stuck around in Moscow long term Yeah, and have been faithful with the one talent they had now their Kids had five and their kids kids are gonna have ten if they continue to be faithful in that way So again thinking long long term in that way and being faithful When you've seen that actually in our community like if I've seen the old legacy families in Moscow who only had the money To buy a home in the trailer park Moscow In some good trailer parks nice. It's um, uh, what's it what's it called Robinson Park? Yeah nice nice trailer park quality trailer park Um, the trailers look kind of like houses, but you still tell their trailers um But now their kids have a house because they owned For years they spent paying off that trailer park mortgage They didn't have tons of money their kids grew up in that trailer park home And now their kids have a house. I mean like like generationally thinking with the resources you have now And being faithful with it whether no matter how small they are like I can only afford a trailer park apparently home But it already that's thinking and changing your kids ability to do better than you I want I want my kids to love Jesus more than me. I want my kids to be better Christians than me like I mean Spiriously, I want my kids to like hit home runs and grand slams and be way better off With with faithfulness to the Lord than I ever was them, but I'm not nostic Yeah, like how much more or how much do I do all my kids to also um be better off materially, you know, covenantally like like physically speaking here on earth You know, if and if they're that much more faithful with the Lord and And and more wise than me and more you know Better at me a business and all that stuff more mobeta um, you know, how much more the little things you can do now like we we often think we need to hit home runs or grand slams to like You know, man if I made a million dollars. Oh, it's at my kids up I mean, I'm thinking that's this family that's in my mind right now. I mean like mom and dad Living in a trailer park they raise their kids in the trailer park. Mm-hmm. And Rob is a park Now their kids got home. I mean, that's amazing And it's faithfulness a little and look what they're already changed in the nature Of their generations by with the little money they had investing into real generational kind of um property for the future Chris let me close out Yeah, I mean, I think on that it's you know faithful with little faithful of much Yeah, and you might be able to you you might be able to deciding someone might be deciding between Man, I could have a mobile home in Moscow. Mm-hmm. Or I could have a Giant house in Texas or I could have a giant house in the Midwest or something and it to me it comes back Like a Kansas Where the cheapest house? I don't know those states pop up. Sorry guys. Yeah, I got listeners in both those states and Yeah, yeah, they're gonna text me because But I think it comes down to the priorities right we talked about this a little bit But you know Faith first like community what church are you plugging into family? What's gonna set my family up for success? And then you know job or or the home that we're living in whatever else and we've talked about we've had the opportunity To serve a ton of cross-politic listeners making the move up to Moscow Deciding for themselves, you know, that's the place where I want to raise my kids That's where there's opportunities for my kids to find godly spouses for me to get good discipleship and training within the church community So I think it's just working through those priorities being able to sacrifice where sacrifice is is wise and reasonable and Investing where it matters most. Yeah, so that that um this show is gonna release Probably three four weeks before grace agenda. So we actually usually have a big crowd that comes from out out of town Yeah Grace you know, I imagine as always there's always someone looking for a house when they come from here. Yeah How can people reach you talk to you get connected with you So maybe they can meet with you guys well at Grace agenda Yeah, I'll drop my contact information then we'll be at Grace agenda. We'll have a booth there We'll be okay talking to people so come by our booth, but but hit us up before then And we can schedule a time to sit down more intentionally My you can reach a story real estate.com my direct cell phone numbers 308 301 593 9 and then we'll be at Grace agenda. We'll have a booth hit us up beforehand We'd love to sit down talk with you guys about Moscow. We have a youtube channel also. It's called living in Moscow Idaho tells you everything about what it's like to live here. Yeah, it's fun stuff so you can check it out Okay, well very good before we close. I want to know what's happened to the silos property. Oh man Well the silos property The silos sold to the university. Yeah, and then you've got the corner piece That is a terrible piece to develop for all sorts of reasons. It's got contaminated soil And there's the easement thing right through the diagonal of it tons of developers have looked at it and it's not feasible You got to do two triangular buildings or something like that. So it sounds like um The university is going to be working with It's kind of funny business, but university is going to be working with the city to to do something with it They want this hello walk from the center of campus. Yeah to the corner of town. Yeah They're gonna have to demo like three or four, you know, eminent domain Couple different buildings to get there. So we'll see if it ever happens, but that that's the vision the hello walk university to downtown Moscow And now Only working with the rich people Unbelievable You just ruined my show Hey guys, thanks for joining crossbow's like one along with the water boys good to be with you and make sure you guys share the show Make sure you guys reach out to Chris and Jordan. I'm going to story real estate.com Also click on join the team if you want to check out more and everything so thank you guys so much for coming on Appreciate it. Yeah, thanks again. Until next week. We'll see you