You May Not Want To Tell Your Young Adult Children To "Act Their Age"

You May Not Want To Tell Your Young Adult Children To "Act Their Age"

Episode Transcript

Speaker 1 (00:02):
Now Charleston's Morning News with Kelly and Plays.

Speaker 2 (00:06):
So our beef prices about to go up again. Tyson
Foods is closing one of the largest beef processing plants
in the country. The company announced that it will close
the plant in Nebraska and lay off more than three
two hundred people. The company says the move comes as
US beef supplies shrink, hitting their lowest levels since the

(00:27):
nineteen fifties. Demand has remained steady, however, driving prices to
new highs. Tyson's expecting an operating loss between four hundred
million and six hundred million dollars this year. So I
don't know. I can't say for certain this is why.
But I remember hearing back when inflation was going through

(00:49):
the roof that the farmers were having trouble with their feedstock,
that they were having trouble, you know, feeding the cows,
and so they were sending more than they normally would
to slaughter, and I remember stocking up on beef. I
still have stakes in the freezer from that period because

(01:14):
the writing was on the wall, and for a little while,
you know, you could get some good prices because there
was a flood of these the beef going to market
because the farmers could no longer afford to feed all
of them. And then now you see the supplies have

(01:34):
shrunk to their lowest level since the nineteen fifties, but
people are still eating the same amount of beef supply
and demand. What does that mean. It means that beef
is going to get even more expensive with the closing
of this processing plant. Probably one more reason why I
need to go buy a cow. I'm not even kidding.

(01:55):
I keep threatening to do it. I've got my family
for a long time. I don't know why I haven't
even done it, because I really want to one of
these days go buy a cow and send it, you know,
to the meat processor and pack up the freezer. You know,

(02:16):
maybe I can go meet the cows and pick one
with a good old farmer. Reminds me of an episode
of Portlandia where they're like, can you tell us about
this chicken And they're like, well, yes, it hasn't been
injected with any antibiotics and you know, it's grass fed,
and we'll tell us a little more. His name was Kenneth,

(02:41):
and they're like, well, can before we order, can we
go meet Kenneth? And they go off and they go
meet Kenneth the Chicken and all of this, and he
has like a dossier and there's a picture of him,
has his whole background. And then they finally feel comfortable
now that they know Kenneth, and then they ordered Kenneth
for dinner. So I'm gonna go get me a cow.

(03:04):
Maybe I'll name them Kenneth to pay homage to that
Portland episode. But anyway, what is not getting more expensive?
And it's kind of concerning not only the price of beef,
but three two hundred people in Nebraska losing their jobs
at this Tyson factory. So things get more and more expensive.

(03:26):
But of course you're in business to make money, not
lose money. And as the story explained, they're losing between
four hundred million and six hundred million dollars this year
at that processing plant. So they just decided to shudder it.
And we in the Chinese are moving in on our

(03:48):
food processing into you know, our food markets. I think,
call me paranoid, but we need to pay attention to that. Also.
You know, if you can't eat, can't fight. Not that
I want to fight, but throughout history, most of the
time people like you and I didn't want to fight

(04:11):
they were forced into it. And you know, in China's
looking for every way possible to gain an advantage and
leverage that advantage. So we have to keep our eye
on the food supply. Home values in Charleston are currently skyrocketing.
That's according to a new report by realtor dot com,
which listed the ten cities in the country with home

(04:34):
values which have climbed the most since twenty nineteen. Charleston
came in third place. Home values have gone up more
than eighty one percent since twenty nineteen, only being beat
by Fayetteville, Arkansas, and Knoxville, Tennessee. Now you hear there's
other areas of the country. If you hear the national news,

(04:54):
it's like housing, you know, the prices are going down.
It depends what region you're in. Remember location, location, location,
which is what they always mentioned in real estate. I mean,
even within one market, there are different numbers at play, right,
So it's not the same everywhere across the country. It's

(05:16):
not even the same everywhere across the Low Country. Some
places are more in demand than others. Prices have risen
higher than in some places than others. And we talked
about in the previous break, government regulation and I brought
this up to several different people. You know, everybody from

(05:37):
the Chamber of Commerce is working on you know, zoning,
the Charleston Development Corporation, all these people, because you need
affordable housing for workers. But zoning is preventing the building
of affordable housing. And you know, and it's concentrated in

(05:59):
only some area. You know, you go up to look
at what's going on in Summerville and the growth that
you see there, or West Ashley, you look at all
these you know, apartment in condo towers going up, and
that's because that's the lowest common denominator when it comes
to providing affordable housing. You have to go into multifamily housing.

(06:24):
And I'll tell you, I mean, that's a pretty big
gain eighty one percent since twenty nineteen. But on my
way in I think it was yesterday, I heard somebody
say they were talking about the prices of housing and
how much they've gone up, and one of the reporters said, yeah,
and this is the national numbers. Now our local numbers
here that you know the price of housing has gone

(06:48):
up fifty eight percent overall since twenty ten. And I'm like,
they're missing the story here. The problem is is that
it went up so fast. I've talked about this before
or so since twenty ten. That's fifteen years, right, and

(07:08):
fifty eight percent over those fifteen years, what's four percent
a year is sixty percent, So three point whatever percent
on average is what you know. The if you average
it out, that's three points something percent per year, and

(07:28):
that's a pretty healthy rate of appreciation, about right where
you want it. The problem is it occurred all at
once because after the Great Recession, you know, a lot
of properties lost value, and then they bounced back, and
then it took a while for them to start appreciating again,
and then they slowly started appreciating, and then COVID hit

(07:49):
all hell broke loose and the prices went through the roof.
And yeah, it's sticker shock, but when you look at
it over an extended period of time, And that's why
I'm always arguing, I don't think real estate's overvalued. A
lot of people think it's a bubble and it's going
to burst, but I don't think it is. There's still
plenty of demand out there, and when you really look

(08:12):
at the values, are you paying too much? Well, if
it would have stayed on a normal track and appreciate
it at three point whatever four percent a year, we'd
end up about where we are right now. But the
Great Recession and then COVID messed with all of that,
so all of a sudden, you have this sticker shock,

(08:33):
and then you have the higher interest rates as a
double whammy inhibiting people's ability to purchase a house and
insurance costs. So now insurance has gone up so much
that's inhibiting. Add that to a higher interest rate, and
it diminishes your buying power because the bank says, all right,
you have to pay your taxes, you have to pay

(08:55):
your insurance, you have a debt to income ratio, and
guess what, you can't afford to buy. And that's what's
going on. So but if you are an owner of
a home, it was a smart decision. And this is
why I even argued that a fifty year mortgage is
not a bad idea. It's probably not a good idea
to keep it for fifty years, but to use it

(09:16):
to get in the door. Absolutely, do anything you can
to get in the door of home ownership, because it's
a great way to keep up with inflation and an
excellent investment overall, and you just heard the numbers proving
that point right. Thanks for listening on this Wednesday morning,
the day before Thanksgiving. So are you getting prepared? Do

(09:37):
you have all your shopping done? Do you have all
your supplies ready, all your utensils cleaned and spiffed up
and ready to go? Are you frying your turkey or
are you roasting your turkey? Or maybe you're doing both?
Some people do both. The family wanted to fried this year.
I kind of go back and forth the last few years,

(09:57):
so I think I'm going to fry it. And then
I was like, man, I'm gonna have that big old
vat of oil. What else am I going to fry?
I can't stop it. Just the turkey. That seems like
a waste. So I was looking through I actually googled.
I'm like things to fry, and I came across this

(10:21):
recipe for fried carrots. I mean, of course, you know
you can do your fried chirump and fried chicken and
fried this and that. So I was looking for something
a little different, and I'm like, maybe I'll fry up
some boot alum balls. I think I still might do
that sounds delicious. I'm going to make myself hungry here,
But I've got some boot on in the freezer, so

(10:43):
I might fry up some boot am balls. And I
came across this recipe for fried carrots. I don't think
I've ever had fried carrots before. And you know that
when I was a kid, I couldn't stand carrots. Now
I love them, and I'm like, huh, that sounds pretty
delicious actually, And I guess what you do is you

(11:05):
cut them into pieces. And some people were like coating them.
This is like totally uncoated, just naked carrots, where you
slice them up and drop them in the fryer for
a little bit, pull them out and cover them with
some you know, salt them a little bit, and there
you go. So I'll report back to you how the

(11:26):
fried carrots turn out. But I think I'm going to
give that a try, along with some boot on balls.
And then I'm trying to come up with some other
ideas of what I can throw in the fryer, and
like I said, not just your usual stuff, you know,
something a little different. And then it came across like
the fried ice cream. Have you ever had fried ice cream?
It's actually delicious. I don't think I want to go

(11:50):
through all that though, So anyway, I'm like, I'm going
to have this big old vat of oil, right, when's
the next time I'm going to pull that thing out?
So we're going to put it to good use and
just start frying the hell out of everything, going through
the pantry, going through the freezer, going through the refrigerator.
What else could I fry? It's like having a fire,

(12:12):
right when you have a big old bonfire out in
the yard, You're like, what else could I burn? All right?
I burned all my yard debris? What else could I
throw in here? Start bringing out that old furniture. So
I feel about the fryer, you know what, It's like
a challenge. What else can we fry here? You may
want to stop telling your adult children to act their

(12:33):
age the next time you feel like that. You have
to keep this in mind and consider what researchers are
saying about brain development. A study out of the University
of Cambridge says the human brain rewires itself in five
different phases, with the adult epoch not beginning until age
thirty two. Those phases affect how we think and process information.

(12:57):
Research shows the first epoch begins at birth. The second
kicks in at age nine and lasts until thirty two.
The adult phase from ages thirty two to sixty six
shows brain architecture stabilizing. The fourth epoch from sixty six
to eighty three shows the brain still getting reorganized, with

(13:18):
people becoming more reliant on individual regions of the brain
for cognition at age eighty three and beyond. So the
second epoch lasts from nine years old until thirty two.
So if you have a kid in their twenties and
you're like, hey, act your age, it's nine. That explains

(13:40):
a lot, doesn't it. And sometimes they're like, you know what,
I'm an adult now, I'm twenty five, and you act
like I'm a little kid. Now you can tell them, well,
you know, according to your brain epoch, you're nine, and
you can never stop being a parent, can you. You know,

(14:03):
And sometimes you even have to stop yourself and say, well,
they need to learn their own lessons. Hopefully, if I've
instilled enough information and values into them that they'll make
the right decision, or even if they don't, they'll soon
correct it and see the error of their ways. You know,
they all have to learn on their own and It's funny.

(14:27):
My dad used to say, you know, I always thought
that I could convey upon my children the mistakes I've made,
and that they themselves wouldn't therefore not make them, and
therefore their life would be better. He's like, Sadly, it
doesn't work that way. Everybody's got to learn on their own.
But of course you need to arm them with the

(14:48):
correct arsenal of information and lessons that they need so
that they can hear that little voice years later. But
pretty interesting at nine until thirty two is just the
second epoch of your brains development, and the adult phase
does not begin until age thirty two.

Speaker 1 (15:12):
Thanks for listening to the Charleston Morning News podcast. Catch
Kelly and Blaze weekday mornings from six to nine