Latest / Financial Survival Network / The Lock-In Economy - Jason Hartman - #6370

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The Lock-In Economy - Jason Hartman - #6370 · Financial Survival Network

• 0:00
  Speaker 1: You know, about twenty five percent of the country, Carrie
• 0:02
  Speaker 1: has a mortgage adder below three percent. About sixty five
• 0:06
  Speaker 1: percent of the country has a mortgage adder blow four percent,
• 0:10
  Speaker 1: and that is making for very, very unmotivated property owners.
• 0:18
  Speaker 2: You are listening to Carrie Letz's Financial Survival Network, where
• 0:22
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• 0:26
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• 0:29
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• 0:35
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• 0:38
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• 0:45
  Speaker 3: And welcome.
• 0:47
  Speaker 4: You are listening to and watching the Financial Survival Network.
• 0:50
  Speaker 4: I'm your host, Carrie lets We are doing a new
• 0:54
  Speaker 4: studio setup here and let me know how you like it.
• 0:58
  Speaker 4: Jason Hartman is on with me now. Jason, we wanted
• 1:02
  Speaker 4: to get an update what's happening with real estate. You know,
• 1:06
  Speaker 4: I don't think the stock market is going to collapse
• 1:09
  Speaker 4: for a while like everyone's predicting, because money is rushing
• 1:13
  Speaker 4: in there. And as long as the stock market doesn't collapse,
• 1:16
  Speaker 4: do you think that real estate's going to collapse?
• 1:20
  Speaker 1: Definitely not. You know, three years ago, when the cost
• 1:23
  Speaker 1: of money tripled, carry and we saw the fastest mortgage
• 1:27
  Speaker 1: rate increases in all history. It really proved to the
• 1:33
  Speaker 1: country and the world how resilient real estate is as
• 1:38
  Speaker 1: an asset class.
• 1:39
  Speaker 3: I mean, think of it.
• 1:41
  Speaker 1: You take a credit based asset like real estate where
• 1:44
  Speaker 1: most people are financing it, and you triple the cost
• 1:48
  Speaker 1: of that money from those low COVID era rates to
• 1:52
  Speaker 1: the highs that we saw, and the market still doesn't crash.
• 1:57
  Speaker 1: It actually appreciates. I mean, I mean, who would have thought.
• 2:02
  Speaker 1: And I'll tell you where all of the doomers and
• 2:05
  Speaker 1: all the crash bros. As I call them got it wrong.
• 2:10
  Speaker 1: Is they looked at housing affordability from the perspective of
• 2:15
  Speaker 1: new people entering the market and they said, hey, housing
• 2:20
  Speaker 1: has become extremely unaffordable. That means prices are going to
• 2:24
  Speaker 1: drop and there's going to be a crash. Well, they
• 2:26
  Speaker 1: were right that housing was very unaffordable and still is
• 2:30
  Speaker 1: very unaffordable. However, what they were wrong about, and what
• 2:34
  Speaker 1: they didn't consider, is all of the housing stock that
• 2:39
  Speaker 1: was controlled by well over one hundred million people who
• 2:44
  Speaker 1: had incredibly low interest rates and realized that their mortgage
• 2:50
  Speaker 1: is not a liability, it's actually an asset.
• 2:53
  Speaker 3: Asset.
• 2:54
  Speaker 1: Yeah. Yeah, like you say, and I say, and that
• 2:57
  Speaker 1: mortgage asset. They didn't want to give it up. And
• 3:00
  Speaker 1: I still don't want to give it up. And I
• 3:03
  Speaker 1: predicted this very early on in the COVID era. You know,
• 3:06
  Speaker 1: people can go back and watch my old videos on YouTube,
• 3:10
  Speaker 1: listen to my old podcast episodes. They can hear me
• 3:12
  Speaker 1: saying this. I did not, unfortunately, give it a name.
• 3:17
  Speaker 1: The media later gave it a name, and they called
• 3:19
  Speaker 1: it the mortgage lock in effect. And that's that's what happened.
• 3:25
  Speaker 1: We're still experiencing it, and it is over time lessening slightly,
• 3:32
  Speaker 1: but not by March. You know, about twenty five percent
• 3:35
  Speaker 1: of the country carry has a mortgage adder below three percent.
• 3:39
  Speaker 1: About sixty five percent of the country has a mortgage
• 3:42
  Speaker 1: adder blow four percent, and that is making for very
• 3:49
  Speaker 1: very unmotivated property owners that want to keep their properties.
• 3:56
  Speaker 3: Yeah.
• 3:56
  Speaker 4: Well, you know, because unless you're going to buy your
• 3:59
  Speaker 4: new home for cash, then you're if you're going to
• 4:03
  Speaker 4: get a mortgage, you're going to if you want to downsize,
• 4:06
  Speaker 4: you'll get half the house and it'll cost.
• 4:08
  Speaker 3: You more per month. So where's the incentive to sell?
• 4:13
  Speaker 1: Yeah, you're absolutely right, there's not much incentive to sell.
• 4:17
  Speaker 1: Those people want to keep their properties. They don't want
• 4:20
  Speaker 1: to give them up. And you know, as I always say,
• 4:24
  Speaker 1: the one ingredient, the one absolutely required ingredient for a
• 4:30
  Speaker 1: housing crash is this. It's tens of millions of home
• 4:35
  Speaker 1: owners who are in distress that become millions of home
• 4:42
  Speaker 1: sellers dumping their properties on the market. And for the
• 4:47
  Speaker 1: last three years and still now we have the exact
• 4:50
  Speaker 1: opposite of that. We have tens of millions of homeowners
• 4:54
  Speaker 1: who are extremely comfortable and have very low payments and
• 4:58
  Speaker 1: very affordable houses. They are experiencing a very different economy
• 5:04
  Speaker 1: than a new buyer entering the market. It's just a
• 5:07
  Speaker 1: completely bifurcated thing. And that's why they won't give up
• 5:11
  Speaker 1: their houses, because the deals are too good. They got
• 5:14
  Speaker 1: to keep them.
• 5:16
  Speaker 4: Yeah, exactly, exactly, even though they might want to downsize.
• 5:21
  Speaker 4: I've thought about it myself, but economically it makes no sense.
• 5:25
  Speaker 4: And your paydown of your equity happens, you know, your
• 5:29
  Speaker 4: paydown of your loan balance, your amortization happens so.
• 5:32
  Speaker 3: Much quicker with a lower interest rate, right.
• 5:36
  Speaker 1: Yeah, and with more time going by, and with inflation
• 5:39
  Speaker 1: induced debt destruction my trademark strategy. So yeah, absolutely, yeah.
• 5:45
  Speaker 4: So if anything, it's it's gotten even more advantageous. But
• 5:50
  Speaker 4: what about for the people who you know, have to
• 5:53
  Speaker 4: take that six percent mortgage.
• 5:56
  Speaker 1: Well, six percent ain't bad historically, that's for sure. I mean,
• 6:00
  Speaker 1: we got up to close to nine percent at the
• 6:02
  Speaker 1: worst points of this, and the market still continued to appreciate.
• 6:08
  Speaker 1: So it was the complete opposite of what all of
• 6:10
  Speaker 1: the doom and gloomers predicted and what they said. But
• 6:14
  Speaker 1: you know, we have a very significant housing shortage in
• 6:17
  Speaker 1: the country. And if you want to put my screen up, Carrie,
• 6:22
  Speaker 1: I've got some charts and things and maps to share
• 6:25
  Speaker 1: with people interest. So you know, there's quite a lot
• 6:31
  Speaker 1: of argument over how bad the housing shortage is. You know,
• 6:35
  Speaker 1: there are different opinions different experts, and they range anywhere
• 6:40
  Speaker 1: from a shortage a predicted housing shortage of one million
• 6:44
  Speaker 1: homes to over seven million homes. So experts differ in
• 6:50
  Speaker 1: their opinions of how bad the housing shortage is. But
• 6:54
  Speaker 1: no legitimate expert says there is not a shortage. Okay,
• 7:00
  Speaker 1: lots of you know, hacks on YouTube, publishing videos to
• 7:04
  Speaker 1: get clickbait that say there's no housing shortage, but they're
• 7:08
  Speaker 1: just wrong. That's just simply not true. Everybody that enters
• 7:12
  Speaker 1: the market and looks around for property to buy can
• 7:15
  Speaker 1: feel it. They know that.
• 7:16
  Speaker 3: Uh.
• 7:17
  Speaker 1: And there are less than eight hundred thousand homes for
• 7:19
  Speaker 1: sale in the country right now, and you know, compared
• 7:23
  Speaker 1: to what as I always say, well, there's about one
• 7:26
  Speaker 1: hundred and forty million homes in the country and only
• 7:31
  Speaker 1: slightly over one half of one percent of the entire
• 7:35
  Speaker 1: housing stock in the country is for sale, and that
• 7:38
  Speaker 1: is an extremely low number. The normal the normal market
• 7:42
  Speaker 1: is about one percent of the housing stock being for
• 7:44
  Speaker 1: sale at any given time. So inventory is very, very low.
• 7:49
  Speaker 1: And you know, I believe the experts that say it'll
• 7:55
  Speaker 1: be about seven more years, maybe six if we're lucky,
• 8:00
  Speaker 1: until the market reaches an equilibrium where we build enough
• 8:03
  Speaker 1: houses and the population growth has been slowing to where
• 8:07
  Speaker 1: we reach a normal equilibrium type market. So look for
• 8:12
  Speaker 1: that around twenty thirty two, maybe twenty thirty three.
• 8:16
  Speaker 4: So here's a question for you. Trump mass deportations. Close
• 8:22
  Speaker 4: to a million have been deported already, two million if
• 8:26
  Speaker 4: self deported. If he gets rid of fifteen or twenty
• 8:30
  Speaker 4: million people, which is a stretch, but let's just say
• 8:33
  Speaker 4: it can be done. Is that going to have a
• 8:35
  Speaker 4: ileterious effect on the housing market.
• 8:38
  Speaker 1: Well, first of all, I've got to say, you know,
• 8:40
  Speaker 1: there's a difference between my own selfish interest and what
• 8:44
  Speaker 1: is good for the country. And I hope he succeeds,
• 8:47
  Speaker 1: because we have got to clean up the country. America
• 8:52
  Speaker 1: is for Americans legal people that have entered the country
• 8:56
  Speaker 1: legally and not the process. Yeah, and done it right,
• 9:02
  Speaker 1: and they should be getting the benefits. We as taxpayers
• 9:06
  Speaker 1: should not be paying for, you know, fraudulent Somali day
• 9:10
  Speaker 1: care centers or housing vouchers for illegals. I mean, the
• 9:15
  Speaker 1: fraud and the it's just disgusting. I mean, you know,
• 9:19
  Speaker 1: now that all this fraud has been exposed, I just
• 9:21
  Speaker 1: keep wondering when Pam Bondi is going to start mass
• 9:25
  Speaker 1: arresting people. But I just think she's like bought off.
• 9:28
  Speaker 1: She must be part of the deep state, because it's
• 9:30
  Speaker 1: mind boggling to me how she just isn't making any
• 9:34
  Speaker 1: real dent in terms of prosecutions in my opinion, and indictments.
• 9:38
  Speaker 1: But that's maybe another topic obviously. So to answer your question,
• 9:43
  Speaker 1: you know most of those illegals are not renting, you know,
• 9:50
  Speaker 1: primary housing, They're renting very low end housing, so that
• 9:56
  Speaker 1: impact would mostly be felt by C class apartment.
• 9:59
  Speaker 3: Own owners and the low low.
• 10:02
  Speaker 1: End of the market. Now, in the case of Minnesota,
• 10:05
  Speaker 1: you know, a lot of those fraud frauds for Somalis
• 10:08
  Speaker 1: probably have really nice homes. Overall, it's going to be
• 10:16
  Speaker 1: better for the country, and I'm all for it.
• 10:21
  Speaker 4: Yeah, yeah, well, you know, but if it's a substantial number,
• 10:26
  Speaker 4: then it's going to have an impact, probably in the
• 10:28
  Speaker 4: lower end, like you say. But then again, Trump always
• 10:33
  Speaker 4: says we want legal immigration. So maybe at some point,
• 10:37
  Speaker 4: you know, we've actually seen net outward migration from the
• 10:41
  Speaker 4: United States for the first time in decades, and maybe
• 10:45
  Speaker 4: at some point two three years down the road, that
• 10:49
  Speaker 4: trend will reverse because more legal immigrants will be coming
• 10:53
  Speaker 4: into the country.
• 10:54
  Speaker 1: Yeah, hey, listen, I'm gonna I'm going to share an
• 10:57
  Speaker 1: idea with you and your audience. And if I could
• 11:00
  Speaker 1: get to Trump, I would love to tell him this idea.
• 11:04
  Speaker 1: I did get to shake his hand once very quickly
• 11:08
  Speaker 1: at Mar A Lago. You were there, and but you
• 11:11
  Speaker 1: know here, you're you're all familiar probably with his gold
• 11:15
  Speaker 1: card program where he's basically selling and and you know,
• 11:20
  Speaker 1: migration through investment is a common thing. It's done all
• 11:24
  Speaker 1: around the world. Many countries do it where you know,
• 11:27
  Speaker 1: you agree to invest a certain amount of money in uh,
• 11:32
  Speaker 1: you know, investments within the country, whether they be startup
• 11:35
  Speaker 1: businesses or some kind of you know, sovereign fund or whatever,
• 11:39
  Speaker 1: or buy some real estate there, and you you can
• 11:42
  Speaker 1: get a path to citizenship. And so Trump has been
• 11:46
  Speaker 1: selling and I think he's selling. I don't know how many,
• 11:49
  Speaker 1: but you know it's started.
• 11:51
  Speaker 3: I believe.
• 11:53
  Speaker 1: Five million each what he called gold card for five
• 11:57
  Speaker 1: million dollars. Okay, But here's what he should do, in
• 12:01
  Speaker 1: my opinion, is he should just print the money or
• 12:06
  Speaker 1: go into bigger deficits, I don't care what it takes,
• 12:10
  Speaker 1: and pay these people to leave. Start by offering twenty
• 12:15
  Speaker 1: thousand dollars and then go to fifty thousand dollars and
• 12:19
  Speaker 1: some people will take the bait and they'll just go
• 12:22
  Speaker 1: back to their own country. Okay, give them money, just
• 12:25
  Speaker 1: pay them to leave. It's cheaper than ice and everything else. Right,
• 12:30
  Speaker 1: But then but wait, then create a marketplace for US
• 12:36
  Speaker 1: citizenship and resell those same slots to people for like
• 12:42
  Speaker 1: ten times the price. So if you pay someone fifty
• 12:45
  Speaker 1: grand to go back to Samali, which seems like a lot,
• 12:48
  Speaker 1: right uh, and you sell.
• 12:50
  Speaker 4: That sunds like a bargain to me, Jason, it sounds
• 12:53
  Speaker 4: like a bargain to me.
• 12:54
  Speaker 1: I agree, I agree. But you know people, a lot
• 12:57
  Speaker 1: of people would say it's too much. Okay, But then
• 12:59
  Speaker 1: you sell that slot to a Norwegian or a Swede
• 13:04
  Speaker 1: whose countries are being ruined by immigration, right uh, you
• 13:09
  Speaker 1: sell that spot to them for five hundred thousand, for
• 13:11
  Speaker 1: ten times the amount the government would make money on that,
• 13:16
  Speaker 1: and it would be it would just massively improve the
• 13:20
  Speaker 1: country to have high quality educated people with capital, with ambition,
• 13:26
  Speaker 1: with businesses, bring all of that economic stimulus to the
• 13:30
  Speaker 1: United States. It would be a fantastic deal. You know,
• 13:34
  Speaker 1: five million dollars is great. You know, a lot of
• 13:37
  Speaker 1: very wealthy people will take that offer, and many have
• 13:40
  Speaker 1: from what I understand. But if it was thousand, there
• 13:45
  Speaker 1: you go, you'd get a lot more.
• 13:48
  Speaker 3: I'm ready, I'm going I'm taking it.
• 13:50
  Speaker 4: If he offers it to me, i'll go too.
• 13:52
  Speaker 1: Well, no, you don't need to take it. You're already
• 13:55
  Speaker 1: a centizen.
• 13:56
  Speaker 3: Yeah, yeah, it's that I want the money.
• 13:59
  Speaker 4: I'll leave if you If he offers enough, Jason, I
• 14:01
  Speaker 4: will definitely take the money and leave.
• 14:04
  Speaker 3: Sure, hey you can.
• 14:05
  Speaker 1: You can now lay on a beach in Thailand and
• 14:08
  Speaker 1: enjoy life, you know.
• 14:09
  Speaker 4: Yeah, yeah, absolutely, I won't even think twice about it.
• 14:13
  Speaker 3: You know that.
• 14:13
  Speaker 4: You know, I love the United States. I mean I've
• 14:16
  Speaker 4: been here in my whole life. But there are other
• 14:18
  Speaker 4: places in the world where we could go. But you
• 14:22
  Speaker 4: know the idea. Right now, they're paying them twenty five
• 14:26
  Speaker 4: hundred dollars to leave, and they seem.
• 14:28
  Speaker 3: To have a lot of takers.
• 14:30
  Speaker 5: So maybe you're maybe some good auction, maybe have an auction,
• 14:37
  Speaker 5: you know, and you got X amount at here if
• 14:40
  Speaker 5: you go now.
• 14:41
  Speaker 3: But then it keeps going down. But once you put
• 14:44
  Speaker 3: your name in the auction, you're going no matter what.
• 14:47
  Speaker 3: And then we get even more for less money.
• 14:52
  Speaker 1: Yeah, I think that's that's the way to do it,
• 14:55
  Speaker 1: you know, is just do that. I mean, you know,
• 14:57
  Speaker 1: the ice enforcement and the SELFI deportation incentives and whatever,
• 15:01
  Speaker 1: but like you really got to increase the incentive. Okay,
• 15:05
  Speaker 1: it's just got to be a higher incentive. But then
• 15:07
  Speaker 1: we sell those slots to winners.
• 15:10
  Speaker 4: Yeah, well, Somali's eighty percent or on some form of
• 15:13
  Speaker 4: public assistance, and I guess the rest are ripping us.
• 15:17
  Speaker 3: Off on fraud.
• 15:19
  Speaker 1: Yet yet people can't afford grocery prices and housing and
• 15:22
  Speaker 1: healthcare and college tuition in the US. And that's who
• 15:26
  Speaker 1: you're supporting. You're supporting these criminals. It's just disgusting.
• 15:30
  Speaker 3: It really is. Sounds anyway, did you feel good?
• 15:33
  Speaker 1: Yeah, in terms of you know, maybe you want to
• 15:36
  Speaker 1: cover a couple other things. So I threw up a
• 15:38
  Speaker 1: map year of the population change through domestic migration. Okay,
• 15:45
  Speaker 1: this is just within the country, of course, and most
• 15:49
  Speaker 1: recently South Carolina, Idaho, North Carolina have seen you know,
• 15:54
  Speaker 1: just the most growth, okay, and those have been really
• 15:58
  Speaker 1: popular state and then the expensive left wing liberal places
• 16:04
  Speaker 1: largely I'm not really including Alaska in there, but New York, Hawaii,
• 16:08
  Speaker 1: California have seen outflows, and so you know, look at California,
• 16:14
  Speaker 1: lots of outflows of good people. That's unfortunate. Of course,
• 16:20
  Speaker 1: this isn't as recent as the COVID era. If this
• 16:23
  Speaker 1: were a couple of years older, you'd see Florida being
• 16:26
  Speaker 1: the star state and maybe Texas being number two. So
• 16:29
  Speaker 1: it's just kind of interesting. But here's some information on
• 16:32
  Speaker 1: the size of the housing shortage and how people differ
• 16:35
  Speaker 1: on this. And see that vacancy rates of for sale
• 16:39
  Speaker 1: properties and for rent properties are historically low. There are
• 16:43
  Speaker 1: not many vacant houses. And then here this is the
• 16:48
  Speaker 1: rental shortfall. So the housing shortage consists of two components,
• 16:55
  Speaker 1: rentals and for sale properties that people can buy. Okay,
• 16:59
  Speaker 1: there's two components to it. And probably not a huge
• 17:03
  Speaker 1: surprise here in terms of many of these areas where
• 17:07
  Speaker 1: you see the shortage as being the most acute in
• 17:10
  Speaker 1: the darker red versus the green where there's really no shortage. Okay,
• 17:16
  Speaker 1: And it's interesting that you would have seen in California
• 17:20
  Speaker 1: there being huge shortages before in these high priced areas,
• 17:24
  Speaker 1: but that's just not the case anymore. The equation is
• 17:26
  Speaker 1: really starting to flip and you see the desirable right
• 17:32
  Speaker 1: leaning markets mostly with bigger shortages. So that's interesting. Now
• 17:37
  Speaker 1: when you look at for sale units, okay, that's a
• 17:41
  Speaker 1: little different, it paints a different picture. But here's how
• 17:43
  Speaker 1: the shortfall looks there in terms of what's actually available
• 17:47
  Speaker 1: for people to buy.
• 17:49
  Speaker 3: Pretty shocking, yeah, pretty shocking.
• 17:52
  Speaker 4: I mean, that's like got to be the biggest shortage
• 17:56
  Speaker 4: since like after World War Two in the fifties and sixties.
• 18:00
  Speaker 3: Jason and I.
• 18:01
  Speaker 1: Would agree, yeah, and that led to a baby boom
• 18:04
  Speaker 1: and a booming economy for many, many years. So it's
• 18:10
  Speaker 1: it's quite interesting, you know. You you know, every everything
• 18:15
  Speaker 1: that we deal with has two major value drivers in
• 18:19
  Speaker 1: my opinion, scarcity and utility. How scarce is it, how
• 18:25
  Speaker 1: hard is it to make new supply of the item
• 18:28
  Speaker 1: the widget, and how useful is it? And housing scores
• 18:34
  Speaker 1: at the top in both of those categories. It's super
• 18:38
  Speaker 1: useful and it's very hard to create new supply. So
• 18:43
  Speaker 1: it's it's it's similar historical proven asset class in the
• 18:46
  Speaker 1: entire world. We my company, Empowered Investor, helps people buy
• 18:50
  Speaker 1: properties nationwide. We've got some great free software people can
• 18:55
  Speaker 1: get to analyze deals. It's called property tracker. Just got
• 18:58
  Speaker 1: a propertytracker dot com. That and you know, just a
• 19:02
  Speaker 1: bunch of resources for people carry you're super familiar with.
• 19:05
  Speaker 4: All of that anyway, Oh yeah, very and it really
• 19:10
  Speaker 4: gives you a whole different perspective.
• 19:13
  Speaker 3: You know.
• 19:15
  Speaker 4: Another shortage we have critical minerals silver, and that market's
• 19:20
  Speaker 4: been bouncing all over the planet.
• 19:23
  Speaker 3: Here.
• 19:24
  Speaker 4: Is there a parallel to a shortage in housing and
• 19:28
  Speaker 4: a shortage of critical minerals like silver?
• 19:31
  Speaker 1: And you know, I can't say that there is, but boy,
• 19:34
  Speaker 1: I have been watching the silver market. I mean I
• 19:36
  Speaker 1: came out believe the meteoric rise and then it gave
• 19:39
  Speaker 1: back a lot of that. I don't know what it's
• 19:41
  Speaker 1: done the last week or so, but you know, I
• 19:43
  Speaker 1: couldn't believe the correction.
• 19:45
  Speaker 3: So you know, I still in the eighties. Yeah, still
• 19:48
  Speaker 3: in the eighties.
• 19:49
  Speaker 1: That's that's pretty good. You know. I started buying it
• 19:52
  Speaker 1: at like sixteen dollars I think, or no, eight dollars maybe,
• 19:56
  Speaker 1: I don't know, I can't remember. It was so many
• 19:57
  Speaker 1: years ago. And you know, I'm into everything. I've got
• 20:02
  Speaker 1: the crypto stuff, I've got the medals and you know,
• 20:04
  Speaker 1: but real estate is really my favorite thing. Income producer
• 20:07
  Speaker 1: of crypto not doing so good and surprisingly, you know,
• 20:14
  Speaker 1: definitely not correlated with the fear trade of gold and silver, right,
• 20:20
  Speaker 1: which is interesting because a lot of people thought that
• 20:23
  Speaker 1: would be the case. You know, they'd run to bitcoin,
• 20:25
  Speaker 1: that would be the flight to safety. They'd run to gold,
• 20:28
  Speaker 1: that would be the flight to safety. But it's just
• 20:30
  Speaker 1: not playing out that way. It's playing out more like
• 20:32
  Speaker 1: a tech stock, I guess.
• 20:34
  Speaker 4: Because it never goes according to what expectations are. The
• 20:38
  Speaker 4: market always stock market, investment paper markets always conspire to
• 20:45
  Speaker 4: frustrate the majority of investors and lose money, right, And
• 20:51
  Speaker 4: that's the way it works.
• 20:52
  Speaker 3: And these are on the long come.
• 20:54
  Speaker 1: Well, you know, as I always say, Wall Street is
• 20:57
  Speaker 1: the modern version of organized crime. They do a great
• 21:04
  Speaker 1: separating middle class from their money, for sure.
• 21:07
  Speaker 3: So true, they're really great at that.
• 21:11
  Speaker 4: And yeah, so real estate the formula still works, the
• 21:17
  Speaker 4: heartman formulas still can make you money in the long run.
• 21:21
  Speaker 1: Absolutely, you know, it's a The thing about income property
• 21:25
  Speaker 1: carry is it's unlike every other asset class because it's
• 21:30
  Speaker 1: multi dimensional. With precious metals, for example, the whole strategy
• 21:35
  Speaker 1: is bilow sell high.
• 21:37
  Speaker 3: That's it.
• 21:38
  Speaker 1: With crypto, Bilo sell high. Non dividend paying stocks, Bilo
• 21:43
  Speaker 1: sell high, that's it. Okay, dividend paying stocks, yeah, I
• 21:46
  Speaker 1: get some dividends in between. But with income property you
• 21:50
  Speaker 1: make your return on at least six ways. I mean,
• 21:54
  Speaker 1: think about it. You've got income, you've got depreciation, tax benefits,
• 22:00
  Speaker 1: you've got appreciation, you've got leverage, you've got mortgage paydown
• 22:05
  Speaker 1: by the tenant, and then you've got my trademark strategy
• 22:09
  Speaker 1: inflation induced debt destruction. All of those things are creating
• 22:13
  Speaker 1: wealth for people with income property. You know, you can
• 22:17
  Speaker 1: have a flat market, you can have a declining market
• 22:20
  Speaker 1: in price and still make money because of the multi
• 22:24
  Speaker 1: dimensional nature. You're not just dependent on one or two
• 22:27
  Speaker 1: sources to get return on investment. You've got six sources.
• 22:32
  Speaker 1: At least some would argue there's more than six, but
• 22:35
  Speaker 1: six primary sources.
• 22:36
  Speaker 4: Amazing, amazing. And hey, maybe you got an extra room.
• 22:42
  Speaker 4: You can't afford to sell your house, so you airbnb
• 22:45
  Speaker 4: it or rented out to a border, or you have
• 22:50
  Speaker 4: some extra property in the back and you drop a
• 22:53
  Speaker 4: portable cabana type unit that becomes an income property.
• 22:58
  Speaker 3: You got.
• 22:58
  Speaker 4: Optionality is the point in many different properties, and you know,
• 23:04
  Speaker 4: depending on where you are, class of property and all that. Jason,
• 23:09
  Speaker 4: where do we find you these days? Where's the best link?
• 23:12
  Speaker 1: Yeah, my main website Jason Hartman dot com. Just my
• 23:16
  Speaker 1: name Jason Hartman dot com. You can find my podcast
• 23:20
  Speaker 1: on any podcast platform. Just type Jason Hartman. My YouTube
• 23:23
  Speaker 1: channel type Jason Hartman Empowered Investor. You'll find me, and
• 23:28
  Speaker 1: we're here to help people build wealth through income property.
• 23:31
  Speaker 1: We've done it for many, many thousands of people for
• 23:33
  Speaker 1: the last twenty two years, and we can help you
• 23:36
  Speaker 1: do it too.
• 23:37
  Speaker 4: I met a lot of those people and mainly only
• 23:41
  Speaker 4: good things to say. You know, everybody's going to have
• 23:44
  Speaker 4: some loser investments in the portfolio. But if you stick
• 23:48
  Speaker 4: with it, stick with the formula, it's proven. I know
• 23:52
  Speaker 4: it works. It's worked for me in the past. Some
• 23:54
  Speaker 4: of my biggest scores have been in real estate and
• 23:59
  Speaker 4: scores that I know even intended to make. But like
• 24:02
  Speaker 4: you said, inflation induced, the debt destruction, rising markets, demographic shifts,
• 24:10
  Speaker 4: all of those things, real estate can really help you
• 24:13
  Speaker 4: take advantage of. Hey, you got a question comment for Jason,
• 24:17
  Speaker 4: Shoot me an email klat Kerry Lutz dot com. We
• 24:21
  Speaker 4: answer all questions, post a comment on the YouTube channel,
• 24:27
  Speaker 4: and Jason, thanks for coming on. We'll talk to you
• 24:29
  Speaker 4: real soon.
• 24:30
  Speaker 1: All right, my pleasure, happy investing to you and your audience.
• 24:33
  Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network, your
• 24:37
  Speaker 2: solution to today's trying times. For the latest, go to
• 24:41
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than ever,