Tom Toole and Lisa Chinatti discuss Steve Harney's passing, President Biden's new housing initiatives, Sitzer/Burnett plaintiffs requesting a payout, Jerome Powell's senate hearing, Fannie Mae home price expectations, what it means to be an A-player vs top-producer, and why the Silver Tsunami is not coming.
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Resources:
https://www.resiclubanalytics.com/p/freddie-mac-silver-tsunami-will-gradual-reduction-9-million-boomers-exit-housing-market-2035
https://nowbam.com/biden-announces-5000-mortgage-relief-credit-and-incentives-to-build-more-homes/
https://nowbam.com/100-housing-experts-see-increased-home-price-growth-and-6-mortgage-rates-in-2024/
https://nowbam.com/the-income-needed-to-buy-a-home-has-jumped-80-since-2020/
https://www.resiclubanalytics.com/p/freddie-mac-silver-tsunami-will-gradual-reduction-9-million-boomers-exit-housing-market-2035
Timestamps:
00:00โ00:39 Intro
00:39 Steve Harney, the โoracle of real estate,โ passed away Sunday, March 3, 2024
05:25 President Bidenโs housing initiatives: $5K-$10K tax credit & homebuilder incentives
08:31 Mortgage Bankers Association article on Biden plan + why Tom doesnโt like the plan
11:33 Plaintiffs of Sitzer/Burnett have requested a payout of their fees
14:23 On Thursday, Jerome Powell spoke before senate banking committee (Resiclub)
15:58 Fannie Mae home price expectations (BAM article/chart)
17:13 How are you sharing this with consumers?
18:07 Lisaโs answer: local market trends
19:26 Tomโs answer: the cost of waiting calculation
23:15 The biggest wealth is owning real estate
24:36 What does it mean to be an A-player?
28:41 Nick Saban quote
30:41 Job report topic/credit report (increasing consumer debt) & affordability
34:00 80% more expensive to buy a home since COVID (BAM article)
36:12 โWe live in this era of the side hustle...โ
37:09 "People think they could work another job & be really successful at real estateโฆ"
38:58 If you want to get paid like a CEO you have to work like a CEOโฆ
40:44 โSilver tsunamiโ topic: "Itโs not comingโฆโ (Lisa) + Lance Lambert chart
42:30 โThis plan isnโt going to workโฆโ (Tom)
43:01 Itโs International Womenโs Day!
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Connect with Byron Lazine:
https://www.instagram.com/byronlazine
Connect with Tom Toole:
https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti:
https://www.instagram.com/lisachinatti/
Join the 5AM Call: https://5amcall.com/
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