Episode Transcript
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Speaker 1 (00:00):
For the first time since twenty twelve, a majority of
homes in the US have actually depreciated. Just over half
of homes in the US fifty three percent, to be exact,
have lost value over the past twelve months. That is
according to a new report by Zillo, And we're going
to talk about that. We say hello to our national
correspondent Rory O'Neil. Rory, thanks for joining us on iHeartRadio
(00:24):
Holiday Talk.
Speaker 2 (00:25):
Basically, what's going on?
Speaker 1 (00:27):
Why are so many homes actually depreciating nowadays?
Speaker 3 (00:32):
Now we're seeing this read in the West and in
the South in particular, although there are a couple other
cities that top the list here that aren't out of
that zone. Well, Denver, I guess tops the list. Austin,
Texas is another one in the tops where we're seeing
year over year home values actually come down. In some cases,
it's because there's been a building boom and maybe a
(00:52):
little bit too much building in the past few years.
In other cases, like in California and Florida, big disruptions
the insurance market. A lot of insurance companies have been
pulling out rates have been going sky high, pricing out
a lot of consumers who are now putting their houses
on the market because they can't afford the cost of
keeping them rory.
Speaker 4 (01:12):
How much does this have to do with the fact
that during or right after COVID in some parts of
the country, people were overpaying for homes. They were making
offers that were twenty five fifty even up to one
hundred thousand dollars over asking price because there were hardly
any homes out there and the interest.
Speaker 5 (01:31):
Rates were so low.
Speaker 4 (01:32):
So is that now having the impact where the price,
the value that people paid for it, you know, four
or five years ago, is no longer.
Speaker 3 (01:42):
Well, I think the interest rates, the mortgage rates are
a big part of that because you know, we all
look at that bottom right hand number on the page
they give us, right, how much is it going to
cost me every month? Yeah, as long as that because
the mortgages are around six and a quarter, you know,
that's the limit. That's just pushing people further and further
out of the towns they want to be in, and
(02:02):
that can essentially have a problem of bringing down the
prices and the values and the homes. Now, just keep
in mind these are also just the estimated values from Zillow.
It doesn't mean that they're losing money on the sale
of hows because if you're going to be in a
house for ten, twenty thirty years, you know that price
is going to fluctuate. And that's what we're seeing now,
(02:23):
is this larger fluctuation to the downside. Again, as Reid said,
fifty three percent are now valued less than they were
a year ago, a number that's going to bounce around.
But again, we haven't seen something this high since twenty twelve.
Speaker 1 (02:37):
So according to this report, rory homes in the Northeast
and Midwest are holding their value a little bit better.
That would be we'd be talking about states like Wisconsin, Illinois, Ohio, Massachusetts, Connecticut,
New York. What's happening there that's different than what's going
on out west.
Speaker 3 (02:56):
Well, I think it's because they're historically higher home prices
in those areas for the most part.
Speaker 2 (03:01):
You know, they're always expensive up there and have been.
Speaker 3 (03:04):
And yes, the prices have also grown unbelievably fast, but
it's in areas that aren't historically higher value.
Speaker 2 (03:12):
You know, Cape Coral, Florida, you.
Speaker 3 (03:15):
Know where we saw a huge jumping prices after the
Great Recession, and then things have been starting to.
Speaker 2 (03:21):
Level off a little bit.
Speaker 3 (03:22):
And again let's go back to that example of the
insurance costs you know now and now the condo fees
and what they have to pay for, you know, making
sure that they have enough for reserves. In these communities,
a lot of people are giving up these second homes
that they once had because the cost of keeping them
is just too high.
Speaker 4 (03:40):
We're talking to our national correspondent, Rory O'Neil.
Speaker 5 (03:44):
Now, Rory, another.
Speaker 4 (03:45):
Story you're covering this morning, Why plumbers call the day
after Thanksgiving brown Friday.
Speaker 2 (03:52):
I never heard that one before.
Speaker 4 (03:53):
Other have I and it sounds really gross, but it's
not what most people might be thinking.
Speaker 3 (03:58):
Well exactly, And as a new homeowner this you may
want to take notes here. USA today has A has
A has all the graphics and everything you need to know.
We're really talking about the sink more so than the john.
Speaker 2 (04:11):
Which is good, dudes, I suppose.
Speaker 3 (04:14):
But look, we put a lot of stress in our
houses and their infrastructure this week. Either everyone is visiting
your place, you're at someone else's, that's a lot of
pressure on the plumbing system, either in the bathroom or
in the kitchen.
Speaker 2 (04:25):
So just a reminder, no turkey, no turkey skin.
Speaker 3 (04:28):
No turkey bones down that disposal. No potato skins down
there either, no potatoes, no uncooked rice also, no celery,
no fibrous vegetables, no onions in the disposal, no eggshells either,
and of course no grease down the sink. Otherwise that
Christmas bonus might be spent instead and for the plumbers crack.
Speaker 1 (04:49):
Look, I have a vivid memory rory of a Christmas
Day some years ago, being on my knees with the
Allen Ranch undoing taking care of the garbage disposal.
Speaker 5 (05:06):
So, yes, it is.
Speaker 2 (05:07):
I know what you're talking to.
Speaker 5 (05:08):
You know what was put in it that caused the problem?
Do you remember?
Speaker 2 (05:12):
No?
Speaker 1 (05:12):
I don't really remember, but I know that it's like, Okay,
the Allen Ranch goes up here and you go and
eventually it kind of clears out.
Speaker 2 (05:21):
It's that little.
Speaker 3 (05:22):
Button you can push, or there's a trick with the
broom handle as well, a few things to get that done.
But they do record significant jumps in Google searches for
a twenty four hour plumber or emergency plumber on Brown Friday.
Speaker 2 (05:36):
I've never heard that one before.
Speaker 4 (05:37):
Yeah, now I knew that you're not supposed to put
grease down the drain and eggshells. But I wasn't aware
that potato skins can't go in the garbage disposal either,
And I used to put I would cut strawberries for
my kids, like cut the tops off strawberries, and I
would throw those in the garbage disposal, and my ex
husband told me to stop doing it or I was
going to clog the disposal. So I did know about
(05:59):
that one. But yeah, better off to just get one
of those little things that gets all nasty, the little
the little drain stopperor thing, and and put that in
there and then just throw it in the garbage can.
Speaker 3 (06:10):
Okay, Now, the strawberry strawberry tops you knew in me
I thought they'd be fine, But okay.
Speaker 2 (06:14):
I really too.
Speaker 1 (06:15):
And we eat a lot of strawberries at my house.
Speaker 5 (06:18):
And you put them in the garbage disposal.
Speaker 1 (06:20):
Sometimes yes, and sometimes read with the vegetables too. I
guess I might be back on my knees with that
Alan ranch again before too long.
Speaker 2 (06:28):
So who would you rather deal with on Thursday?
Speaker 1 (06:31):
The guy that won't stop politics or the little kids
who can't sit still?
Speaker 6 (06:37):
Yeah, my problem is I'm the guy that won't stop
talking politics. So that's me, that's the issue. Like that, Yeah,
that's me. I like those arguments. Sorry, but yeah, the kids,
well you know you're gonna do well.
Speaker 4 (06:50):
So apparently a lot of people have a game plan
before they sit down to eat for how they're going
to dodge awkward conversations, like pretending that their phone just rang,
so excuse me for a second, I've got to use
the bathroom. Some people will even want to sit at
the kids table at their family Thanksgiving.
Speaker 5 (07:11):
In in order.
Speaker 4 (07:12):
To avoid those awkward conversations. Forty seven percent of people
in this survey said they would rather sit at the
kid's table than deal with the grown up conversations and
then politics, of course the number one thing people are
trying to avoid. People don't want to talk about money
at Thanksgiving dinner either. Comments about appearance and weight. I
think that one's obvious, and what's surprising to me is
(07:34):
that it still comes up in some families. Like, nobody
in my family is mentioning that they know better.
Speaker 1 (07:40):
I would think that it's like, why would you want
to Why would you like, oh, are you losing weight?
Speaker 6 (07:46):
Now?
Speaker 2 (07:47):
If you say are you losing weight, that's okay? Wellst
we sometimes it is.
Speaker 4 (07:52):
But I'd be careful about that read Some people don't.
Some people don't want it mentioned at all. They don't
want to talk about it.
Speaker 3 (08:00):
So you got who at the tables on those zimpic else.
Speaker 1 (08:06):
Religious, their act, mental health, worker, career issues.
Speaker 2 (08:12):
How are things that work these days? I get that
a lot.
Speaker 4 (08:14):
Yeah, what people do want to talk about food, wine,
and their hobbies.
Speaker 5 (08:19):
Those are the safe topics.
Speaker 1 (08:20):
All right, Rory O'Neil, thanks for joining us today. We've
also got the day's top news stories. And Dana, I'm
still having trouble processing the fact that Marjorie Taylor Green
is out of Congress or will be as of early January.
And New York City Mayor elect zorin Mam Dami is
coming off as Donald Trump's bfs.
Speaker 5 (08:41):
I know it really is.
Speaker 4 (08:42):
Friday was a very interesting day in politics in Washington,
with Marjorie Taylor Green announcing her plan to resign from Congress.
Now this is a result of, you know, she stood
up for the Epstein victims.
Speaker 5 (08:56):
She was very outspoken.
Speaker 4 (08:58):
She lashed out at President Trump, and she was very
upset that he wasn't as forthcoming as she thought he
was going to be. With bringing all of the Epstein
information out to the public. So President Trump lashed out
at her on truth Social calling her a trader as
she supported the Epstein victims. And here's what Marjorie Taylor
Green said last week. Now this was before she announced
(09:20):
her resignation, right before the vote on the bill that
ended up passing and forced the DOJ to release those
Epstein files.
Speaker 7 (09:27):
Here's what she said. And he called me a trader
for standing with these women and refusing to take my
name off the discharge petition. Let me tell you what
a trader is. A trader is an American that serves
foreign countries and themselves. A patriot is an American that
(09:49):
serves the United States of America and Americans like the
women standing behind me.
Speaker 4 (09:55):
So she made those comments about serving foreign countries as
President Trump was meeting with Saudi Arabia, so she definitely
took a shot at him there. And then late Friday,
she announced she's resigning from her seat in Congress effective
January fifth.
Speaker 7 (10:12):
Standing up for American women who were raped at fourteen
years old, trafficked in use by rich, powerful men should
not result in me being called a trader and threatened
by the President of the United States, whom I fought for.
Speaker 4 (10:27):
Yeah, so she knew that she was likely going to
be primaried. And Trump confirmed that when he spoke when
he was asked for his reaction to her announcement, and
here's what he said.
Speaker 2 (10:36):
Are you willing to for deeps Congress from my dinner dreams?
Speaker 8 (10:39):
Forgetful us? No, just I just disagreed with her philosophy.
She started backing, perhaps the worst Republican congressman in our history,
you know, stupid person.
Speaker 7 (10:52):
And then Batch and.
Speaker 1 (10:56):
I could go your own way.
Speaker 8 (10:57):
And once I left, she resigned because he would never
have survived the primary.
Speaker 2 (11:03):
But I think he's a nice person.
Speaker 4 (11:04):
Yeah, he always follows things to bything. She's a person. Yeah,
she's a trader.
Speaker 1 (11:09):
He mentioned Thomas. He mentioned Thomas Massey just a second ago.
He was one of those who was reacting to Marjorie
Taylor Green's resignation. He says, I'll miss her tremendously. She
embodies what a true representative should be. Everyone should read
her statement. There's more honesty expressed in those four pages
than most politicians will speak in a lifetime. Alexandria Ocasio
(11:31):
Cortes a little bit, Yeah, harsher she's carefully timing her
departure just one to two days after her pension kicks in,
and after making millions of dollars inside her trading stocks
for weapons manufacturers and others while in office. But the
best one of all, Keith Olberman, political commentator, used to
be on ESPN. I don't like her, I don't trust her,
(11:54):
but God helped me. I'm beginning to respect her and
begin again to believe in the power of record.
Speaker 7 (12:00):
Yeah.
Speaker 4 (12:00):
So that's what a lot of Democrats, both in the
media and also you know Democrat politicians had to say,
is that, Oh, now Marjorie Taylor Green has stood up
to Trump on an issue that you know, a lot
of Americans are behind her on, and so now they've
got respect for her all of a sudden.
Speaker 1 (12:16):
So President Trump on Friday also had to sit down
with the man who had at one point proclaimed himself
Donald Trump's worst nightmare, New York City Mayor elect Zoram Mandani.
Trump in the past called Mam Donnie a one hundred
percent communist lunatic, a total nut job. But then after
the meeting says, I think he's going to surprise some
(12:38):
conservative people. Actually, Yes, so it was very very pleasant meeting,
very very friendly.
Speaker 4 (12:42):
It did turn out to be very friendly. Now here's
probably the most viral moment from the meeting. A reporter
asking Mom Donnie to confirm right in front of President
Trump that he thinks he's a fascist, which is something
that he's said many times in the past. He asked
about your comment called.
Speaker 7 (12:57):
The President and the fascist, and your answer was Christian
Trump and I can clear about our positions.
Speaker 2 (13:04):
And our views. Are you affirming that you think President Trump.
Speaker 8 (13:07):
Is a fascist?
Speaker 2 (13:08):
I've spoken about that. Okay, Okay, that's easier. It's easier
than explaining it.
Speaker 5 (13:15):
Att Yeah. Trump was like, you know what, go ahead,
call me a fascist. I don't mind. We're good.
Speaker 4 (13:20):
And then Mom Donnie was on Meet the Press with
Kristen Welker and she asked him again about calling Trump
a fascist.
Speaker 7 (13:26):
Mister Mayor elect, just to be very clear, do you
think that President Trump is a fascist?
Speaker 9 (13:31):
And after President Trump said that, I said, yes, and
so you do. And that's something that I've said in
the past, I say today. And I think what I
appreciated about the conversation that I had with the President
was that we were not shy about the places of
disagreement about the politics that has brought us to this moment,
and we also wanted to focus on what it could
look like to deliver on a shared analysis of an
affordability crisis for New Yorkers.
Speaker 4 (13:53):
Yeah, so that's kind of what both of them, you know,
took away from the beating. We disagree on a lot
of things, but we agree on this one thing, and
we're going to do what we can to work together
on it, and I think that's really important. I also
think that some of the media and maybe some politicians
might have been disappointed that the meeting turned out to
be so friendly, because some were predicting that it could
end up being like what happened when wen Zelinski met
(14:17):
with Trump a couple of months ago, where that just
got ugly and he kind of just like gave him
a verbal lashing. But that did not happen at all.
Speaker 1 (14:24):
They both have New York City, you know, to be
concerned about, and they're working for the betterment of New
York City, both of them, and you really can't argue
with that. Also, I want to say that I thought
it was I respect Mondannie a little bit. He at
least stood up with what he'd said earlier. He did,
he did, He stood by his remarks when he called
Trump a fashion he.
Speaker 5 (14:44):
Did, and Trump kind of just laughed it off.
Speaker 4 (14:46):
So this is probably my favorite Thanksgiving story ever. Ten
years ago, around this time, Wanda Dench sent her grandson
a text inviting him to Thanksgiving dinner, or so she thought.
She said, Thanksgiving dinner is at my house November twenty
four to three pm. Let me know if you're coming.
The response, you're not my grandma? Can I still get
(15:07):
a plate?
Speaker 1 (15:07):
Though?
Speaker 5 (15:08):
That was from from seventeen year old.
Speaker 2 (15:14):
Jamal Hinson.
Speaker 4 (15:14):
Therebell Hinton, Yes, and so she said, of course you can.
Speaker 5 (15:18):
That's what grandma's do. We feed everyone.
Speaker 4 (15:21):
And so the grandson's phone number had recently changed.
Speaker 5 (15:25):
She did not know that.
Speaker 4 (15:26):
She texted another seventeen year old and he ended up
coming to dinner. The story went viral back in twenty sixteen. Well,
they have spent every Thanksgiving together for the last nine years.
Thursday will be their ten year anniversary celebrating Thanksgiving together,
and the story has become so popular that this year
their dinner is sponsored by Green Giant Foods.
Speaker 5 (15:50):
And they're going to be catering their media wonderful.
Speaker 4 (15:53):
So over the last ten years, they've switched off hosting
duties and they've really been there for each other through
some pretty big life changes. Wanda's husband passed away in
twenty twenty and spending Thanksgiving with him was one of
the bright spots in her rough year, and then last
year she was diagnosed with breast cancer wasn't able to travel,
so he went to her house.
Speaker 5 (16:12):
This year, he is hosting Oh.
Speaker 2 (16:15):
Okay, very nice. This story. You know, I'm familiar with it.
Speaker 1 (16:18):
I think this story has just captured the imagination of
a lot of people just about everywhere.
Speaker 4 (16:24):
Well it really it's just such a feel good story
that these two people, you know, who didn't know each
other at all, they were complete strangers, ended up spending
ten Thanksgivings together.
Speaker 3 (16:32):
It was a Ryan Gorman Show five to nine every
weekday morning on news radio two u FLA