November 13, 2025 • 25 mins
Pete Heim and I discuss the slow decline of enclosed malls against the rise of mixed-use districts, then dig into local housing data, the real impact of the Federal Government Shutdown on loans, and why mortgage rates follow the 10-year Treasury instead of the Fed. We end with the $350M Broadcasting District and what it means for housing, retail, and quality of life.
• Local/National Mall trends shift to open-air retail and pad sites
• Local listings up, sales slightly down, prices still higher
• Days on market nearly flat despite more inventory
• Shutdown delays for FHA, VA, USDA; flood insurance pause
• Historical rebound after shutdowns
• Fragmented markets across regions and school districts
• Mortgage rates tied to the 10-year Treasury
• Broadcasting District: 775 homes, Whole Foods, hotel, walkability
• Community trade-offs: growth, noise, taxes, amenities
How's your Mall doing? Is it gone? Tell us on our Socials, we'd love to know and talk about it on our next show!
Tune in every Thursday, 7 p.m.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:03):
From real estate to the market as a whole, which
sometimes will affect the rightin real life.
We all learn and do.
If you think about it, WayneDyer might not attract everybody
and everything in between.
SPEAKER_00 (00:17):
Mission was really to help people just to reach
their full potential.
The Brad Wiseman show.
And now your host, Brad Wiseman.
SPEAKER_01 (00:26):
All right, we're back.
We're back.
Hugo.
Oh, what's that was almost, youknow, Halloween is way past us,
and you're still doing it.
Sounded very spooky.
Very spooky.
How are you doing?
I'm good.
How are you?
I'm doing great, man.
All right.
Totally doing great.
Did you get your refi done?
SPEAKER_03 (00:45):
Not quite yet.
SPEAKER_01 (00:46):
Not yet.
SPEAKER_03 (00:47):
Still in the go in the work.
SPEAKER_01 (00:49):
Get that done because rates are going up a
little bit.
Yeah.
SPEAKER_02 (00:51):
Did you lock it?
Yeah, exactly.
SPEAKER_01 (00:53):
He's gonna, he's going to.
That's he's working on it.
Yeah.
So no, so welcome to the show.
We have our monthly um show thisweek, right now, uh, with do we
have to actually say his name?
Uh with the wonderful Pete Haim.
Oh.
Look at that.
He like he's like so proud ofhimself.
So proud.
So no, welcome, uh Pete.
(01:14):
How are you doing?
Good, Bradley.
How are you?
It's been a while.
It has been.
Yeah, a month.
It's been a month.
It's been a total month.
It's been about a month.
I don't think I've seen you in amonth.
It's probably it's been a while.
You know, we're in November.
This is crazy.
It's getting chilly.
It is.
If I don't know where you'relistening to uh on this, but you
know, if you're in Florida, welove you.
Yep.
If you're um if you're inAlaska, uh-huh.
(01:38):
Uh-huh.
It's colder than it is here.
That's right.
But no, the only thing I hateabout this time of the year, I
got to I have to say, is I justdon't like the the darkness.
Oh, yeah.
Yes.
Yeah, daily.
I'm 55.
You would think after 55 ofthese, I would I would be okay
with the dark thing, you know?
Because it happens every year.
Right.
But we all act surprised.
(01:59):
You ever notice that people arelike, oh, I can't stand it's
getting dark early.
And we're all like, we're alllike this is the first year it
happened.
Yeah.
We're all like, oh, son of areally who's the one that did
this?
Somebody's got a dimmer switchsomewhere, you know.
Um but yeah, so I just um thisis not.
SPEAKER_02 (02:16):
Losing that or I fall back as you gain an hour,
right?
Yep, yep.
It's still messing me up, man.
I mean, on my Oh, absolutely.
SPEAKER_01 (02:23):
Well, you're tired.
It's weird.
It's tired.
You're tired.
I think they should get rid ofthe whole thing.
SPEAKER_02 (02:28):
That's right.
Yeah, right?
Go standard.
Just go standard the wholething.
The whole way.
Yeah.
SPEAKER_01 (02:32):
Well, Arizona does.
And I think there's another,there's another place, too.
There's one other place.
I forgot.
Uh Kawaii.
Hawaii.
Hawaii doesn't do it either.
Yeah.
They're all into that alohashit.
Yeah, they're in the aloha shit.
Yeah.
So they they don't they don'tthey don't listen to any of that
at all.
SPEAKER_02 (02:44):
They're probably smoking uh aloe plants or
something.
SPEAKER_01 (02:47):
Yeah, I don't know what goes on down there.
I don't know at all.
But you know, one of the thingstoo we want to talk about today
is that we're gonna changethings up a little bit with the
show each month.
Yeah.
You know, we always do a lot ofnumbers.
Um, we're gonna be adding someother things in here.
Right.
Uh some other current eventthings, some other things about
real estate, some things thatmaybe aren't as much about real
estate, but they're all gonnakind of tie in.
SPEAKER_02 (03:08):
Yeah.
SPEAKER_01 (03:09):
Um because there's a lot that goes on.
And I think the thing that mademe think of this, and we'll go
right into it, was the BerkshireMall.
SPEAKER_02 (03:16):
Yeah.
SPEAKER_01 (03:16):
You know, and no matter where you're from, no
matter where you're listeningfrom, whether, you know, this is
more of a local part of ourshow, but you know, all local is
national anyway.
And and really everybody has amall.
Yeah.
Right?
Yeah.
A mole that is not a mole, not amole.
No, I think he thought I saidmole.
SPEAKER_03 (03:32):
That's my accent.
SPEAKER_01 (03:33):
Yeah, I thought you said mole.
I was like, no, of course I havemoles, but you can get those
taken off.
But you know, but a mall, I knowI I knew you're in the garden
too.
Yeah, you're right, exactly.
Mole, yeah.
So everybody has a mall.
Yeah.
And you know, they're not doingso well.
The smaller ones, the moreregional ones, you go still
level.
(03:56):
Yes.
Where everything was on theinside.
Yeah.
And we have a mall that's doingthat.
We are that that has just beenstruggling for a while.
It's a shame.
And I think it's it's a it's uhsomething that kind of just
starts to happen.
And what I saw happen over theyears, I used to work there back
in the late 80s, and I worked atOrange Julius.
And uh I remember that.
Yeah, yeah.
And also Chess King, I mean,nobody knows what the hell that
(04:17):
is anymore.
That was a guy's uh guy'sclothing store.
Not so good.
Um but the but I remember whathappened to the Armand, I don't
know if this is the way it iswhere everywhere, is they would
they would have a problemgetting tenants, they'd lower
the price, they'd get a tenant,but maybe the tenant was now not
the product that we were usedto.
(04:37):
Right.
Then that would go out.
Right.
And they'd lower the price toget a tenant, and then they
would get a tenant that maybeisn't even close to what the
people going there.
I think what it is they forgottheir audience.
Like Spencer's gifts.
Yeah, like Spencer's Gifts.
I love Spencer's gifts.
Everybody remember that?
Do you remember Spencer's gifts?
No, but I've never heard of it.
Yeah, yeah, yeah, yeah.
That was the weirdest stuff inthere.
(04:58):
Spencer gifts was weird.
SPEAKER_02 (04:59):
Do you remember the bar on the up on the second
floor?
There was a bar on the secondfloor of the mall.
Yeah, they used to serve drinksa lot of beakers and stuff.
SPEAKER_01 (05:05):
I don't remember that.
That's before me.
You are older than me.
Yeah.
Yes.
You are older than me.
SPEAKER_02 (05:09):
Please chime in if you remember the name of that
bar.
SPEAKER_01 (05:11):
It was a good one.
It was good.
Oh, gadgets.
I remember gadgets.
Yes.
SPEAKER_02 (05:16):
I had my 21st.
My buddies took me out on for my21st birthday there.
And oh man, wow, gadgets.
My mom was pissed because I waslate for my party.
Oh, man.
And three sheets.
SPEAKER_01 (05:27):
Did you get a whooping?
No, I was 31.
Well, I used to.
But it I got a lashing.
Yeah, you got a lashing.
But no, so our mall just it justisn't working.
It's not.
And now it should be a centralplace of gathering.
So many things.
I was telling Carson the otherday, you know what I used to do?
I used to walk around and cruisechicks.
Do you remember cruising chicks?
All the time.
You didn't do it in a car.
We did it at the mall.
(05:49):
Did you ever cruise chicks,Hugo?
No, I don't know what that was.
He's like, what the hell iscruising chicks?
It wasn't, we didn't run overgirls with our cars.
That's not what we did.
It was you would walk around themall looking as studly as you
could.
Yep.
And he'd give the wink orsomething, you know, and you
would be like with your mullet.
Hey, baby.
With your mullet.
With the mullet.
With your plastic pants.
Yeah.
Oh, oh, I had parachute pants.
(06:10):
Parachute pants, fish headshirt.
I mean, I thought I would.
Well, of course.
Yeah.
You had to be a member, but butno, but I would walk around and
you'd cruise chicks.
That's what we did.
Cruised them.
So that that's one of the thingsthat, you know.
It's mostly a junior highschool.
I don't do anymore.
Sure.
No, I don't do it anymore.
And then it became the mall walkplace for older people.
(06:30):
For older people, remember?
Oh, yeah.
That's right.
You just go take your laps.
Because you had controlledweather.
Controlled weather.
So you could take your laps.
I forget what each lap was.
It might have been a quarter ofa mile or something like that.
And uh well, what we're tryingto say is that that is gonna be
leveled.
It is.
Most of it's gonna be level.
They're gonna do, I think, whatfairgrounds did.
(06:51):
Yes.
Exactly.
They're gonna keep the biganchor stores.
SPEAKER_02 (06:53):
They're gonna break it apart and make it more of an
outside ball, I believe.
SPEAKER_01 (06:57):
Yes, correct.
Okay.
Yeah.
They're gonna have but thestores are gonna be what the
audience in this area is lookingfor.
SPEAKER_02 (07:02):
Right.
In fact, they did the articlesaid something about who's
coming.
Um I don't remember who'scoming, but it's higher end
stuff.
SPEAKER_01 (07:08):
But they're gonna be pad sites, I think.
Yeah, that's exactly right.
And I think it's funny.
People what's weird is it wentyears ago used to be strip
malls.
SPEAKER_03 (07:16):
Yeah.
SPEAKER_01 (07:16):
Okay.
And then that's when the mallswent inverted, where you had the
things on the inside out of theweather.
And then we got Target.
Yeah.
Then it once again it waswalking in the rain to go to
each store.
Exactly.
Which I don't get.
Yeah.
But it's you know what it is?
I think it's the visibility andthe non-commitment of going in.
(07:38):
Yeah.
Think about it.
If I'm driving down past Targetat a regular strip mall, I'm
going to see everything that'sthere.
Yeah.
If I walk into the mall, I haveto walk up and down that mall to
see what's there.
Yeah.
Because it doesn't all fit onthe marquee out front.
Oh, you gotta st yeah, you gottastare at the marquee for a
while.
Exactly.
Yeah.
So I think that's part of it.
(07:59):
Yeah.
I don't know.
SPEAKER_02 (08:00):
It just it just became not cool anymore.
It's just the way the adifferent way of retail.
Yeah, exactly.
You know, back in the day beforeall that, that was Penn Street.
Yeah.
Yeah, exactly.
SPEAKER_01 (08:09):
Every city's Penn Street was was where you went
shopping.
Yeah.
And then that changed.
Yeah.
So we don't know where we don'tknow where things are going
next, but we know that that isgoing to change.
And if you have a mall anywherenear you, let us know if it's
something that is happening inyour town too.
I would love to know that.
I would love to know if it'sjust us or if is it something
(08:30):
that's happening across acrossthe country.
And I have a feeling it it Ithink malls are in trouble.
SPEAKER_02 (08:35):
Yeah, I agree.
And we're going to be able to doit.
Unless you're in Super Mall.
Unless you're like King of theKing of Pressure.
Right.
Yeah, Super Park City.
But um but we do know that theBerkshire Mall is not going to
have anything residential.
It's going to be just likeFairground Square Mall.
SPEAKER_01 (08:47):
It's just going to be split up, broken up, and it
says uh March 2026 is when theconstruction is planned.
March.
Uh March 2026 is when they'regoing to start closing it.
SPEAKER_02 (08:57):
Okay.
SPEAKER_01 (08:57):
Uh the construction is planned for early 2027.
That's what it says on here.
SPEAKER_02 (09:02):
So go do your Christmas shopping at the
Berkshire Mall for the lasttime.
SPEAKER_01 (09:05):
Give them a good boost.
SPEAKER_02 (09:06):
Give them a good boost.
And they're not going in there.
SPEAKER_01 (09:08):
They're awesome.
SPEAKER_02 (09:09):
He is they've done a tremendous job.
SPEAKER_01 (09:12):
Absolutely.
And they've they tend to stayaround.
So why don't we go into somenumbers here?
Um if you want to go into somenumbers.
I know that's your favoritepart.
It's your favorite part.
SPEAKER_02 (09:19):
Oh.
Yeah.
He gets really excited about thenumbers.
I'm sorry, folks.
Most of you hate numbers, but wewe love them.
Go ahead.
So today he's active.
It's 558, Bradley.
Whoa.
That's up there.
Yep.
On this date 2024, there was422.
There we go.
So that's uh 20%.
A little over 2020.
(09:40):
That's incredible.
That's great.
Yeah.
That's great.
Um on year to date today.
These are year to date 2025compared to year-to-date 2024.
The number of listings so farthis year, we've had four this
is the end of October now.
Until the end of October.
4,223 listings in Berks County.
Last year at this time, we had4102.
Okay.
So more people have listed.
(10:00):
Yeah.
SPEAKER_01 (10:01):
We kind of know that.
SPEAKER_02 (10:02):
We feel that.
Absorption rate 1.1 versus 1.
That's the same.
Uh sold.
Last uh this uh this year so farup till the end of October was
3,395.
Last year, 3,469.
So we're a little lower thanthat.
SPEAKER_01 (10:18):
Yep.
That's interesting.
Yes.
Well, it's also the reasoninventory is up.
SPEAKER_02 (10:24):
Yep.
Right?
And yeah, and days on market isonly one more.
Twenty more.
22 versus 21.
Yeah.
Which is really weird.
It is really weird.
It should be more.
Uh the average sold price is319,325, and last year it was
300 in change.
Wow.
So we're five, four percenthigher.
Yeah.
unknown (10:43):
Yeah.
SPEAKER_02 (10:44):
Which is where it's gonna fall.
SPEAKER_01 (10:45):
Kind of kinda eh.
It's gonna be four boring.
Those numbers are kind ofboring.
I'm sorry, guys.
You can come up.
Like I thought there was gonnabe something better than that.
Thank God they're tearing downthe mall.
But Jesus, this because yourstuff is terrible.
Because the mall stuff's reallyisn't it.
The mall stuff's great.
They're tearing it down.
No, no, it's terrible.
But people have jobs, the jobswill be back.
(11:06):
There's gonna be other stuffthere.
SPEAKER_02 (11:07):
So but that's that's all the mummers I have for you
today.
SPEAKER_01 (11:10):
Well then let's get into you you had come to me
about the the shutdown.
Yeah, let's go.
I don't know if anybody knowsthis because it's not in the
news at all, but the federalgovernment has been shut down
for quite some time.
SPEAKER_02 (11:20):
Yeah.
Um 30 some days now, or is itmore than that?
SPEAKER_01 (11:23):
It's it's 30, it's over 35.
I know that.
Is it the over 35?
Yeah.
So um the the thing that thatyou wanted to talk about is is
is what does that affect in realestate?
What does it mean?
SPEAKER_02 (11:33):
It's like, again, guys, the sky's not fallen.
I mean, so much of this stuffpeople go, oh my gosh, the real
estate market's just gonnacrash.
Yeah, yeah.
No.
No.
Here's why.
Um the things that it's gonnaaffect uh are anything that has
the the government attached toit, and it's loans, some of
them.
Yep, yep.
(11:53):
Actually, 25% of them.
FHA, federal housing, VAveterans, USDA, which is usually
lands, farms, stuff like that,all government controlled loans.
That's 25% of the loans that areoutstanding out there.
You're gonna have delays becausethere's less people in there
working to get it processed.
SPEAKER_01 (12:12):
The money's there for that, because it's always
been set aside.
The money's there.
Yeah, that stuff's kind of in apocket somewhere.
It's somewhere.
SPEAKER_02 (12:19):
I'm glad you said that.
It's an escrow.
SPEAKER_01 (12:20):
Yeah, yeah.
It basically is.
Good job.
Really, it's like an escrow,yeah.
But it's so it's there.
It's just that the people thathave to process it, there's not
as many there.
Yeah.
SPEAKER_02 (12:30):
Um there's 2,500 mortgage originators per working
day that are gonna affectthey're gonna have delays.
Yeah.
So 2,500 originators per workingday are gonna have delays.
And that's about from 10,000.
So okay, it's again, it's 25%.
Flood insurance.
If you if you're in a floodzone, you're buying a property
in a flood zone and you needflood insurance, that's a
(12:53):
problem.
Um, that's on hold.
That's on pause.
Because the flood insurance isnot a good idea.
Because that's not funded, Idon't think.
Right.
It is full government funded,regulated, operated.
So that that one's gonna be aproblem if you need flood
insurance right now.
And again, it's probably lessthan one percent of the homes
that are being sold.
Yeah.
SPEAKER_01 (13:10):
Oh, I have sold probably, yeah, a lot less.
SPEAKER_02 (13:12):
Yep.
So the last shutdown thathappened in 2018 was a 35-day
shutdown.
Okay.
And it was December 22nd toJanuary 25th of 18 to 19.
Okay.
The annual adjusted sales forthose two that 35-day period was
five million.
Oh wow.
(13:33):
And then the month after that,which was February of 19, it
jumped to 5.4.
SPEAKER_01 (13:39):
So it really so what happens basically is fast
recovery.
So during during the shutdown,there was definitely a pause or
definitely a lower of of sales.
And then after the shutdown,then then things started to go.
Exactly.
And you know, and like I wassaying to you, the the the
shutdown, you know, everybodysays, well, how many government
workers that are for furloughedright now are not making any
(13:59):
money at all?
Um, how many of them are buyinga house or whatever?
And I think what happens is thelonger this goes, what ends up
happening is becomes this likeuh this uh like a snowball going
down the hill.
Yeah.
Um, it starts to get bigger andbigger, bigger because if
they're not getting paid, thenthat means they're not paying
their bills.
That's right.
That means they're not going outand buying TVs, refrigerators,
(14:22):
sofas, all these things.
They're not contributing to theeconomy.
Yep.
And then the economy starts tofeel that.
You know, if you have 800,000people or a million people
working for the government, Ihave no idea how many people
work for government.
It's it's a lot.
Yep.
And and they're not gettingpaid.
That's a million people notcontributing to the economy.
It it will start to have alittle bit of a trickle-down
(14:43):
effect effect.
So hopefully that won't belasting.
Hopefully, get it together andopen it up.
Yeah.
I know.
Because we're doing our job.
We're doing our job.
We're doing our job.
You go, you're doing your job.
That's right.
That's unbelievable.
Unbelievable.
SPEAKER_02 (14:57):
But I think the the it's gonna mostly affect
flights.
Because I'm I'm experiencingthat actually.
Michelle's on the plane rightnow are going uh flying, and
it's everything was on time.
Oh, wow.
Everything was fine.
Uh the security line was alittle longer.
The security check.
Other than that, it's good, it'sfine.
SPEAKER_01 (15:12):
So there's less people.
SPEAKER_02 (15:14):
That's right.
They're just right.
Exactly.
But the the rental car businessis gonna really go crazy right
now.
SPEAKER_01 (15:19):
Oh yeah, absolutely.
Right?
So true.
SPEAKER_02 (15:23):
Yeah, so true.
But anyway, all right, cool.
But thanks for saying thatbecause I I I think there's a
lot of people concerned overthat.
There's no really no need to beconcerned.
Okay.
SPEAKER_01 (15:31):
But it's so funny.
Anything like that, as soon asit's a large m media thing, it
makes people uneasy, whetherit's directly affecting them or
not, it makes them uneasybecause they hear it all in the
news 30 times in an hour.
And what it does is when you'remaking the biggest investment of
your life, it makes you pullback and go, oh, well, maybe I
don't want to do it right now.
Right, right.
(15:51):
Let's see what happens.
Is the government ever gonnaopen again?
You know, that kind of a thing,which it will.
Aaron Ross Powell, Jr.
SPEAKER_02 (15:55):
And so if the good thing for you, if you want to
start looking for a home,there's gonna be a little bit
less competition for thosepeople that are gonna get a
little frozen because of theuncertainty.
Yeah.
And there's absolutely no reasonto do that.
You just go ahead and get in andtake advantage of it because
maybe we have less competitionand stuff like that.
SPEAKER_01 (16:12):
That is a good point.
Let the people that want to doit.
SPEAKER_02 (16:16):
It's not gonna be shut down forever.
You just gotta get in and takeadvantage of it now.
SPEAKER_01 (16:20):
It should be opening hopefully soon.
Yep.
Um yeah, let's talk about someof the things that are going on.
Home price growth is moderating.
Um we got this from Keeping CurtMatters.
I think we kind of talked aboutthis before.
It is at a 2.3%, is where whereit's at right now.
Nationally.
Uh nationally, exactly.
And that was uh the latestnumbers that were in.
This was actually prettyinteresting too.
(16:42):
Uh while national pricescontinue to climb, and we've
talked about this a lot, andit's funny that they're actually
saying this.
It's an economist forRealtor.com, Anthony Smith is
one that put this out there.
Local marketing conditions havebecome increasingly fragmented.
This is exactly what we've seenfor a while.
We've been saying that thisregional divide is expected to
(17:02):
continue influencing pricedynamics and sales activity as
the fall season gets underway.
What that means, what's I saidbefore, what you hear on the
news on a national level mightmay not be what's going on in
your backyard.
Uh it's fragmented.
The markets are very fragmented.
In fact, they're fragmentedwithin your own region.
Yeah.
In the school district.
School district could be evenwithin the school district, it
(17:24):
could be fragmented.
Yeah.
unknown (17:26):
Yeah.
SPEAKER_02 (17:26):
So that's something of Lower Alsys with the flood
and the school that they gotwiped out.
Yeah.
You know, that got prettyfragmented there.
Because on the other side of theschool district, it's fine.
You know, over on the hill roadside.
But if you're down in the lowarea there where Antietam Lake
is and all that stuff, nowthey're going to be building a
new uh school now.
SPEAKER_01 (17:44):
So they'll take care of most of the water stuff.
SPEAKER_02 (17:46):
That's something else to talk about.
Oh no, I shouldn't have saidthat.
Okay.
Sorry.
SPEAKER_01 (17:49):
We'll talk about it next time.
But I just I I think it's easythat it's interesting that
they're recognizing this that itis something that everybody is
seeing.
I'm loving it.
I'm loving they put that outnationally.
That was good.
And that was by uh Realtor.comactually who did that.
So I don't know if you haveanything else.
Did you see job growth is um alittle it's stalling out a
little bit?
SPEAKER_02 (18:08):
It's stalling out, which has one of those
affordability, right?
SPEAKER_01 (18:11):
You got it.
And that's one of the reasonsthat the Fed rate was uh
lowered.
Yep.
It's because of that.
Because inflation is still attwo more two point nine.
Uh unemployment's at 4.3, Ithink, when I looked at it last.
So those numbers are kind ofpoint nine, I think.
Yeah, so those numbers are arethey they're okay, but yeah,
this one here is interesting towatch.
It's still out.
(18:31):
Um but I did see from ADP.
It surprised me actually ADPsaid that we actually are plus
though.
They have more job because ADPputs out a report because they
do payroll.
Right.
So if they see, if they see morepeople added to payrolls, yeah,
they put out a report and says,hey, by the way, as far as we're
concerned, as one of the largestpayroll companies in the world,
(18:53):
we've seen an uptick.
Last month they saw it actuallygo negative.
Uh-huh.
This month they saw it gopositive.
Now, that could also be becauseduring the holidays, uh with the
holidays coming up, they starthiring.
Yeah, they hired.
SPEAKER_02 (19:07):
I just put all my kids on the payroll.
Maybe that's it.
SPEAKER_01 (19:10):
That could be it.
That could be.
Oh, did I just say that?
Sorry.
Exactly.
Uh IRS, don't listen.
Um, and then mortgage rates, theprojections are still pretty
much the same.
You're looking at between 5.9and 6.4.
Yeah.
And they ek they eked up afterthis last cut.
I think the 5.9 was actuallyfrom Hugo.
That was Hugo.
SPEAKER_03 (19:28):
That's right.
SPEAKER_01 (19:28):
He was like, uh 5.9, please.
Yeah.
This is his dream, is what thatis.
Yeah.
And then one more thing that Ithat I saw that I always like
to, we've brought this upmillions of times, is uh the
mortgage rate does not directlyis not directly affected by the
Fed rate.
SPEAKER_02 (19:47):
Uh yeah.
It's affected by That's why therates went up.
SPEAKER_01 (19:50):
10-year treasury yield is what it comes from.
Yeah, exactly.
SPEAKER_02 (19:52):
They went up.
They went up.
They just cut the Fed and thenthe rates went up.
SPEAKER_01 (19:56):
Yeah.
SPEAKER_02 (19:56):
And people go, why?
Why is that happening?
They don't understand.
How does that work?
SPEAKER_01 (20:01):
Obviously, they're not listening to our show.
They're not.
Come on.
Tune in, folks.
10-year treasury.
Let's go.
10-year treasury.
That's what it goes by.
But no, that's that's what I'vebeen seeing.
That's what's going on.
Um I don't know if you haveanything else that you can do.
SPEAKER_02 (20:13):
I don't know unless you want to talk about the one
more development that's goingon.
You want to wait until nexttime.
SPEAKER_01 (20:17):
Yeah, I mean, right down.
This is the good thing, too.
We talked about a mall closing,but talk about what we have.
Both mixed use.
Love it.
Mixed use is my favorite thing.
Yep.
Oh, I love mixed use.
Bring residential and commercialtogether.
Spring rich where we're talkingabout.
Spring rich, mixed use.
Mixed use.
Mixed use.
The best thing in the world.
SPEAKER_02 (20:34):
Planned urban development.
It's really, really good stuff.
But this next thing is right inthat vacant land that's been
there forever across from Barnesand Noble off a broadcasting
road, guys.
It's called the BroadcastingDistrict Development.
And it's in Spring Township.
I know you're you're on thefourth air, and I would talk to
Joey.
You guys are all fired up aboutit, which you should.
(20:56):
Yeah.
We love it.
$350 million project, guys.
It's going to be 100 acres,vibrant, just a booming area.
They've got You're getting WholeFoods.
Whole Foods is the anchor.
It's just going to be great.
Ruth Chris.
Oh, I can't wait.
I know, me too.
$2.1 million grant was given.
Um, it's going to be a gamechanger.
(21:17):
Uh obviously, Penn State Burksloves it.
Penn State Burks is right there.
But just think about$350 millioninvestment.
Coming into our right in thatarea.
SPEAKER_01 (21:27):
That's a lot of money.
And that's just the investmentgoing in.
Yep.
SPEAKER_02 (21:31):
Now just think about the tax dollars.
Oh my god, well, 775 new housingunits, guys.
Yeah.
SPEAKER_01 (21:36):
Yes, we need it.
Thank you, folks.
SPEAKER_02 (21:38):
Townhouses, single homes, condos, um, 116,000
square feet of retail.
There's gonna be a 110-roomhotel.
SPEAKER_01 (21:47):
Yeah, it's awesome.
SPEAKER_02 (21:47):
Um, and guys, this is right off of 222 broadcasting
road there, um, right down fromPenn State Burks, is right
there.
And the I can't wait to hear thenegativity.
SPEAKER_01 (21:57):
Oh well, you know, I'm actually picturing um
comments already in my head.
SPEAKER_02 (22:02):
And listen, folks, if you live in Stonehill Farm or
um Seven Oaks or any of thoseover there, I'd move.
No call Brad and I.
We'll we'll list your property.
We'll go list it.
No problem.
So think about buying it becauseit's probably gonna make your
value go up.
It really will.
SPEAKER_01 (22:16):
It's gonna take a while.
The walking path that's gonna bearound the walking path.
SPEAKER_02 (22:20):
Dog park.
Yeah.
SPEAKER_01 (22:21):
Little dog park area.
I mean, it's it's prettyawesome.
I've seen it.
I've been working on well, I'vebeen working on as a planning
commission for two, two, two anda half years.
And there is a schematic here.
It's amazing.
It really is.
SPEAKER_02 (22:32):
It's you know, it's I don't know if you can see it,
but it's it's a whole lot ofYeah, it's it's it's really
gonna be neat.
SPEAKER_01 (22:37):
It's gonna be cool.
We got a Dave's hot chickencoming in, or Dave's famous hot
chicken coming in.
Yeah, that's another big one.
Um I'm trying to think of someof the other ones.
Whole Foods is very popular.
Oh, Whole Foods is that'sactually the yank one of the
anchors.
That's that's a big one.
Yeah.
Uh but no, it's gonna be great.
And that's the kind of stuffthat, you know, yes, the mall's
not doing well.
We can also talk about the nexttime.
What we will talk about is Crownthe Crown Plaza Hotel.
(22:58):
Okay, let's talk about that.
A lot of people have questionsabout that.
Yeah, yeah.
We can talk about that too,because that's definitely one
coming up that we'll need to diginto and find out what's going
on.
But I know there's there'sthings going on there too.
Yeah.
So it just shows you, communitygets together.
We need we know we need newthings.
We know that the mall's notworking out.
You get a developer to buy it,turn it into something that
people use, you know?
(23:18):
Yeah.
It brings in tax dollars andmakes everybody's life better.
SPEAKER_02 (23:21):
Yep.
My big question mark in there isthe rock outcropping.
What's that?
The rock outcroppings that arepossibly in there.
Aaron Ross Powell The Rockoutcroppings?
What is that?
Well, rock, bedrock.
SPEAKER_01 (23:32):
Oh, close to the service.
I'm like thinking rock and roll.
Yeah, we're gonna be hearingboom, boom, boom.
Oh, yeah.
Oh, you're definitely gonna.
SPEAKER_02 (23:39):
Because you know, there's a lot of areas here that
haven't been developed for acouple of reasons because they
do rock taps.
Yep.
And it adds.
It adds to the cost of thedevelopment.
SPEAKER_01 (23:47):
So if it's somebody you don't like, tell them to go
down there that day and watchit.
And just watch it.
Just go down.
Get real close.
Get real close.
Get real close.
SPEAKER_02 (23:54):
Don't worry about that mat land.
SPEAKER_01 (23:56):
Just wear wear a helmet.
You'll be fine.
Just wear a helmet.
It's not a big deal.
Yeah, the mat.
It says nobody.
Oh my God.
All right, there you go.
The new and improved, PeteHyman, Brad.
Monthly show, talking about allkinds of stuff.
We got into numbers, but we'realso getting into some of the
local stuff going on.
Let us know again about yourmall in your area.
Not your mall, your mall.
Um, and we would love to hearabout what's going on with that
(24:18):
because I think it's it'sprobably happening everywhere.
So that's about it.
Tune in every Thursday, 7 p.m.
We'll see you.
From real estate to the market as a whole, which
sometimes will affect the rightin real life.
We all learn and do.
If you think about it, WayneDyer might not attract everybody
and everything in between.
SPEAKER_00 (00:17):
Mission was really to help people just to reach
their full potential.
The Brad Wiseman show.
And now your host, Brad Wiseman.
SPEAKER_01 (00:26):
All right, we're back.
We're back.
Hugo.
Oh, what's that was almost, youknow, Halloween is way past us,
and you're still doing it.
Sounded very spooky.
Very spooky.
How are you doing?
I'm good.
How are you?
I'm doing great, man.
All right.
Totally doing great.
Did you get your refi done?
SPEAKER_03 (00:45):
Not quite yet.
SPEAKER_01 (00:46):
Not yet.
SPEAKER_03 (00:47):
Still in the go in the work.
SPEAKER_01 (00:49):
Get that done because rates are going up a
little bit.
Yeah.
SPEAKER_02 (00:51):
Did you lock it?
Yeah, exactly.
SPEAKER_01 (00:53):
He's gonna, he's going to.
That's he's working on it.
Yeah.
So no, so welcome to the show.
We have our monthly um show thisweek, right now, uh, with do we
have to actually say his name?
Uh with the wonderful Pete Haim.
Oh.
Look at that.
He like he's like so proud ofhimself.
So proud.
So no, welcome, uh Pete.
(01:14):
How are you doing?
Good, Bradley.
How are you?
It's been a while.
It has been.
Yeah, a month.
It's been a month.
It's been a total month.
It's been about a month.
I don't think I've seen you in amonth.
It's probably it's been a while.
You know, we're in November.
This is crazy.
It's getting chilly.
It is.
If I don't know where you'relistening to uh on this, but you
know, if you're in Florida, welove you.
Yep.
If you're um if you're inAlaska, uh-huh.
(01:38):
Uh-huh.
It's colder than it is here.
That's right.
But no, the only thing I hateabout this time of the year, I
got to I have to say, is I justdon't like the the darkness.
Oh, yeah.
Yes.
Yeah, daily.
I'm 55.
You would think after 55 ofthese, I would I would be okay
with the dark thing, you know?
Because it happens every year.
Right.
But we all act surprised.
(01:59):
You ever notice that people arelike, oh, I can't stand it's
getting dark early.
And we're all like, we're alllike this is the first year it
happened.
Yeah.
We're all like, oh, son of areally who's the one that did
this?
Somebody's got a dimmer switchsomewhere, you know.
Um but yeah, so I just um thisis not.
SPEAKER_02 (02:16):
Losing that or I fall back as you gain an hour,
right?
Yep, yep.
It's still messing me up, man.
I mean, on my Oh, absolutely.
SPEAKER_01 (02:23):
Well, you're tired.
It's weird.
It's tired.
You're tired.
I think they should get rid ofthe whole thing.
SPEAKER_02 (02:28):
That's right.
Yeah, right?
Go standard.
Just go standard the wholething.
The whole way.
Yeah.
SPEAKER_01 (02:32):
Well, Arizona does.
And I think there's another,there's another place, too.
There's one other place.
I forgot.
Uh Kawaii.
Hawaii.
Hawaii doesn't do it either.
Yeah.
They're all into that alohashit.
Yeah, they're in the aloha shit.
Yeah.
So they they don't they don'tthey don't listen to any of that
at all.
SPEAKER_02 (02:44):
They're probably smoking uh aloe plants or
something.
SPEAKER_01 (02:47):
Yeah, I don't know what goes on down there.
I don't know at all.
But you know, one of the thingstoo we want to talk about today
is that we're gonna changethings up a little bit with the
show each month.
Yeah.
You know, we always do a lot ofnumbers.
Um, we're gonna be adding someother things in here.
Right.
Uh some other current eventthings, some other things about
real estate, some things thatmaybe aren't as much about real
estate, but they're all gonnakind of tie in.
SPEAKER_02 (03:08):
Yeah.
SPEAKER_01 (03:09):
Um because there's a lot that goes on.
And I think the thing that mademe think of this, and we'll go
right into it, was the BerkshireMall.
SPEAKER_02 (03:16):
Yeah.
SPEAKER_01 (03:16):
You know, and no matter where you're from, no
matter where you're listeningfrom, whether, you know, this is
more of a local part of ourshow, but you know, all local is
national anyway.
And and really everybody has amall.
Yeah.
Right?
Yeah.
A mole that is not a mole, not amole.
No, I think he thought I saidmole.
SPEAKER_03 (03:32):
That's my accent.
SPEAKER_01 (03:33):
Yeah, I thought you said mole.
I was like, no, of course I havemoles, but you can get those
taken off.
But you know, but a mall, I knowI I knew you're in the garden
too.
Yeah, you're right, exactly.
Mole, yeah.
So everybody has a mall.
Yeah.
And you know, they're not doingso well.
The smaller ones, the moreregional ones, you go still
level.
(03:56):
Yes.
Where everything was on theinside.
Yeah.
And we have a mall that's doingthat.
We are that that has just beenstruggling for a while.
It's a shame.
And I think it's it's a it's uhsomething that kind of just
starts to happen.
And what I saw happen over theyears, I used to work there back
in the late 80s, and I worked atOrange Julius.
And uh I remember that.
Yeah, yeah.
And also Chess King, I mean,nobody knows what the hell that
(04:17):
is anymore.
That was a guy's uh guy'sclothing store.
Not so good.
Um but the but I remember whathappened to the Armand, I don't
know if this is the way it iswhere everywhere, is they would
they would have a problemgetting tenants, they'd lower
the price, they'd get a tenant,but maybe the tenant was now not
the product that we were usedto.
(04:37):
Right.
Then that would go out.
Right.
And they'd lower the price toget a tenant, and then they
would get a tenant that maybeisn't even close to what the
people going there.
I think what it is they forgottheir audience.
Like Spencer's gifts.
Yeah, like Spencer's Gifts.
I love Spencer's gifts.
Everybody remember that?
Do you remember Spencer's gifts?
No, but I've never heard of it.
Yeah, yeah, yeah, yeah.
That was the weirdest stuff inthere.
(04:58):
Spencer gifts was weird.
SPEAKER_02 (04:59):
Do you remember the bar on the up on the second
floor?
There was a bar on the secondfloor of the mall.
Yeah, they used to serve drinksa lot of beakers and stuff.
SPEAKER_01 (05:05):
I don't remember that.
That's before me.
You are older than me.
Yeah.
Yes.
You are older than me.
SPEAKER_02 (05:09):
Please chime in if you remember the name of that
bar.
SPEAKER_01 (05:11):
It was a good one.
It was good.
Oh, gadgets.
I remember gadgets.
Yes.
SPEAKER_02 (05:16):
I had my 21st.
My buddies took me out on for my21st birthday there.
And oh man, wow, gadgets.
My mom was pissed because I waslate for my party.
Oh, man.
And three sheets.
SPEAKER_01 (05:27):
Did you get a whooping?
No, I was 31.
Well, I used to.
But it I got a lashing.
Yeah, you got a lashing.
But no, so our mall just it justisn't working.
It's not.
And now it should be a centralplace of gathering.
So many things.
I was telling Carson the otherday, you know what I used to do?
I used to walk around and cruisechicks.
Do you remember cruising chicks?
All the time.
You didn't do it in a car.
We did it at the mall.
(05:49):
Did you ever cruise chicks,Hugo?
No, I don't know what that was.
He's like, what the hell iscruising chicks?
It wasn't, we didn't run overgirls with our cars.
That's not what we did.
It was you would walk around themall looking as studly as you
could.
Yep.
And he'd give the wink orsomething, you know, and you
would be like with your mullet.
Hey, baby.
With your mullet.
With the mullet.
With your plastic pants.
Yeah.
Oh, oh, I had parachute pants.
(06:10):
Parachute pants, fish headshirt.
I mean, I thought I would.
Well, of course.
Yeah.
You had to be a member, but butno, but I would walk around and
you'd cruise chicks.
That's what we did.
Cruised them.
So that that's one of the thingsthat, you know.
It's mostly a junior highschool.
I don't do anymore.
Sure.
No, I don't do it anymore.
And then it became the mall walkplace for older people.
(06:30):
For older people, remember?
Oh, yeah.
That's right.
You just go take your laps.
Because you had controlledweather.
Controlled weather.
So you could take your laps.
I forget what each lap was.
It might have been a quarter ofa mile or something like that.
And uh well, what we're tryingto say is that that is gonna be
leveled.
It is.
Most of it's gonna be level.
They're gonna do, I think, whatfairgrounds did.
(06:51):
Yes.
Exactly.
They're gonna keep the biganchor stores.
SPEAKER_02 (06:53):
They're gonna break it apart and make it more of an
outside ball, I believe.
SPEAKER_01 (06:57):
Yes, correct.
Okay.
Yeah.
They're gonna have but thestores are gonna be what the
audience in this area is lookingfor.
SPEAKER_02 (07:02):
Right.
In fact, they did the articlesaid something about who's
coming.
Um I don't remember who'scoming, but it's higher end
stuff.
SPEAKER_01 (07:08):
But they're gonna be pad sites, I think.
Yeah, that's exactly right.
And I think it's funny.
People what's weird is it wentyears ago used to be strip
malls.
SPEAKER_03 (07:16):
Yeah.
SPEAKER_01 (07:16):
Okay.
And then that's when the mallswent inverted, where you had the
things on the inside out of theweather.
And then we got Target.
Yeah.
Then it once again it waswalking in the rain to go to
each store.
Exactly.
Which I don't get.
Yeah.
But it's you know what it is?
I think it's the visibility andthe non-commitment of going in.
(07:38):
Yeah.
Think about it.
If I'm driving down past Targetat a regular strip mall, I'm
going to see everything that'sthere.
Yeah.
If I walk into the mall, I haveto walk up and down that mall to
see what's there.
Yeah.
Because it doesn't all fit onthe marquee out front.
Oh, you gotta st yeah, you gottastare at the marquee for a
while.
Exactly.
Yeah.
So I think that's part of it.
(07:59):
Yeah.
I don't know.
SPEAKER_02 (08:00):
It just it just became not cool anymore.
It's just the way the adifferent way of retail.
Yeah, exactly.
You know, back in the day beforeall that, that was Penn Street.
Yeah.
Yeah, exactly.
SPEAKER_01 (08:09):
Every city's Penn Street was was where you went
shopping.
Yeah.
And then that changed.
Yeah.
So we don't know where we don'tknow where things are going
next, but we know that that isgoing to change.
And if you have a mall anywherenear you, let us know if it's
something that is happening inyour town too.
I would love to know that.
I would love to know if it'sjust us or if is it something
(08:30):
that's happening across acrossthe country.
And I have a feeling it it Ithink malls are in trouble.
SPEAKER_02 (08:35):
Yeah, I agree.
And we're going to be able to doit.
Unless you're in Super Mall.
Unless you're like King of theKing of Pressure.
Right.
Yeah, Super Park City.
But um but we do know that theBerkshire Mall is not going to
have anything residential.
It's going to be just likeFairground Square Mall.
SPEAKER_01 (08:47):
It's just going to be split up, broken up, and it
says uh March 2026 is when theconstruction is planned.
March.
Uh March 2026 is when they'regoing to start closing it.
SPEAKER_02 (08:57):
Okay.
SPEAKER_01 (08:57):
Uh the construction is planned for early 2027.
That's what it says on here.
SPEAKER_02 (09:02):
So go do your Christmas shopping at the
Berkshire Mall for the lasttime.
SPEAKER_01 (09:05):
Give them a good boost.
SPEAKER_02 (09:06):
Give them a good boost.
And they're not going in there.
SPEAKER_01 (09:08):
They're awesome.
SPEAKER_02 (09:09):
He is they've done a tremendous job.
SPEAKER_01 (09:12):
Absolutely.
And they've they tend to stayaround.
So why don't we go into somenumbers here?
Um if you want to go into somenumbers.
I know that's your favoritepart.
It's your favorite part.
SPEAKER_02 (09:19):
Oh.
Yeah.
He gets really excited about thenumbers.
I'm sorry, folks.
Most of you hate numbers, but wewe love them.
Go ahead.
So today he's active.
It's 558, Bradley.
Whoa.
That's up there.
Yep.
On this date 2024, there was422.
There we go.
So that's uh 20%.
A little over 2020.
(09:40):
That's incredible.
That's great.
Yeah.
That's great.
Um on year to date today.
These are year to date 2025compared to year-to-date 2024.
The number of listings so farthis year, we've had four this
is the end of October now.
Until the end of October.
4,223 listings in Berks County.
Last year at this time, we had4102.
Okay.
So more people have listed.
(10:00):
Yeah.
SPEAKER_01 (10:01):
We kind of know that.
SPEAKER_02 (10:02):
We feel that.
Absorption rate 1.1 versus 1.
That's the same.
Uh sold.
Last uh this uh this year so farup till the end of October was
3,395.
Last year, 3,469.
So we're a little lower thanthat.
SPEAKER_01 (10:18):
Yep.
That's interesting.
Yes.
Well, it's also the reasoninventory is up.
SPEAKER_02 (10:24):
Yep.
Right?
And yeah, and days on market isonly one more.
Twenty more.
22 versus 21.
Yeah.
Which is really weird.
It is really weird.
It should be more.
Uh the average sold price is319,325, and last year it was
300 in change.
Wow.
So we're five, four percenthigher.
Yeah.
unknown (10:43):
Yeah.
SPEAKER_02 (10:44):
Which is where it's gonna fall.
SPEAKER_01 (10:45):
Kind of kinda eh.
It's gonna be four boring.
Those numbers are kind ofboring.
I'm sorry, guys.
You can come up.
Like I thought there was gonnabe something better than that.
Thank God they're tearing downthe mall.
But Jesus, this because yourstuff is terrible.
Because the mall stuff's reallyisn't it.
The mall stuff's great.
They're tearing it down.
No, no, it's terrible.
But people have jobs, the jobswill be back.
(11:06):
There's gonna be other stuffthere.
SPEAKER_02 (11:07):
So but that's that's all the mummers I have for you
today.
SPEAKER_01 (11:10):
Well then let's get into you you had come to me
about the the shutdown.
Yeah, let's go.
I don't know if anybody knowsthis because it's not in the
news at all, but the federalgovernment has been shut down
for quite some time.
SPEAKER_02 (11:20):
Yeah.
Um 30 some days now, or is itmore than that?
SPEAKER_01 (11:23):
It's it's 30, it's over 35.
I know that.
Is it the over 35?
Yeah.
So um the the thing that thatyou wanted to talk about is is
is what does that affect in realestate?
What does it mean?
SPEAKER_02 (11:33):
It's like, again, guys, the sky's not fallen.
I mean, so much of this stuffpeople go, oh my gosh, the real
estate market's just gonnacrash.
Yeah, yeah.
No.
No.
Here's why.
Um the things that it's gonnaaffect uh are anything that has
the the government attached toit, and it's loans, some of
them.
Yep, yep.
(11:53):
Actually, 25% of them.
FHA, federal housing, VAveterans, USDA, which is usually
lands, farms, stuff like that,all government controlled loans.
That's 25% of the loans that areoutstanding out there.
You're gonna have delays becausethere's less people in there
working to get it processed.
SPEAKER_01 (12:12):
The money's there for that, because it's always
been set aside.
The money's there.
Yeah, that stuff's kind of in apocket somewhere.
It's somewhere.
SPEAKER_02 (12:19):
I'm glad you said that.
It's an escrow.
SPEAKER_01 (12:20):
Yeah, yeah.
It basically is.
Good job.
Really, it's like an escrow,yeah.
But it's so it's there.
It's just that the people thathave to process it, there's not
as many there.
Yeah.
SPEAKER_02 (12:30):
Um there's 2,500 mortgage originators per working
day that are gonna affectthey're gonna have delays.
Yeah.
So 2,500 originators per workingday are gonna have delays.
And that's about from 10,000.
So okay, it's again, it's 25%.
Flood insurance.
If you if you're in a floodzone, you're buying a property
in a flood zone and you needflood insurance, that's a
(12:53):
problem.
Um, that's on hold.
That's on pause.
Because the flood insurance isnot a good idea.
Because that's not funded, Idon't think.
Right.
It is full government funded,regulated, operated.
So that that one's gonna be aproblem if you need flood
insurance right now.
And again, it's probably lessthan one percent of the homes
that are being sold.
Yeah.
SPEAKER_01 (13:10):
Oh, I have sold probably, yeah, a lot less.
SPEAKER_02 (13:12):
Yep.
So the last shutdown thathappened in 2018 was a 35-day
shutdown.
Okay.
And it was December 22nd toJanuary 25th of 18 to 19.
Okay.
The annual adjusted sales forthose two that 35-day period was
five million.
Oh wow.
(13:33):
And then the month after that,which was February of 19, it
jumped to 5.4.
SPEAKER_01 (13:39):
So it really so what happens basically is fast
recovery.
So during during the shutdown,there was definitely a pause or
definitely a lower of of sales.
And then after the shutdown,then then things started to go.
Exactly.
And you know, and like I wassaying to you, the the the
shutdown, you know, everybodysays, well, how many government
workers that are for furloughedright now are not making any
(13:59):
money at all?
Um, how many of them are buyinga house or whatever?
And I think what happens is thelonger this goes, what ends up
happening is becomes this likeuh this uh like a snowball going
down the hill.
Yeah.
Um, it starts to get bigger andbigger, bigger because if
they're not getting paid, thenthat means they're not paying
their bills.
That's right.
That means they're not going outand buying TVs, refrigerators,
(14:22):
sofas, all these things.
They're not contributing to theeconomy.
Yep.
And then the economy starts tofeel that.
You know, if you have 800,000people or a million people
working for the government, Ihave no idea how many people
work for government.
It's it's a lot.
Yep.
And and they're not gettingpaid.
That's a million people notcontributing to the economy.
It it will start to have alittle bit of a trickle-down
(14:43):
effect effect.
So hopefully that won't belasting.
Hopefully, get it together andopen it up.
Yeah.
I know.
Because we're doing our job.
We're doing our job.
We're doing our job.
You go, you're doing your job.
That's right.
That's unbelievable.
Unbelievable.
SPEAKER_02 (14:57):
But I think the the it's gonna mostly affect
flights.
Because I'm I'm experiencingthat actually.
Michelle's on the plane rightnow are going uh flying, and
it's everything was on time.
Oh, wow.
Everything was fine.
Uh the security line was alittle longer.
The security check.
Other than that, it's good, it'sfine.
SPEAKER_01 (15:12):
So there's less people.
SPEAKER_02 (15:14):
That's right.
They're just right.
Exactly.
But the the rental car businessis gonna really go crazy right
now.
SPEAKER_01 (15:19):
Oh yeah, absolutely.
Right?
So true.
SPEAKER_02 (15:23):
Yeah, so true.
But anyway, all right, cool.
But thanks for saying thatbecause I I I think there's a
lot of people concerned overthat.
There's no really no need to beconcerned.
Okay.
SPEAKER_01 (15:31):
But it's so funny.
Anything like that, as soon asit's a large m media thing, it
makes people uneasy, whetherit's directly affecting them or
not, it makes them uneasybecause they hear it all in the
news 30 times in an hour.
And what it does is when you'remaking the biggest investment of
your life, it makes you pullback and go, oh, well, maybe I
don't want to do it right now.
Right, right.
(15:51):
Let's see what happens.
Is the government ever gonnaopen again?
You know, that kind of a thing,which it will.
Aaron Ross Powell, Jr.
SPEAKER_02 (15:55):
And so if the good thing for you, if you want to
start looking for a home,there's gonna be a little bit
less competition for thosepeople that are gonna get a
little frozen because of theuncertainty.
Yeah.
And there's absolutely no reasonto do that.
You just go ahead and get in andtake advantage of it because
maybe we have less competitionand stuff like that.
SPEAKER_01 (16:12):
That is a good point.
Let the people that want to doit.
SPEAKER_02 (16:16):
It's not gonna be shut down forever.
You just gotta get in and takeadvantage of it now.
SPEAKER_01 (16:20):
It should be opening hopefully soon.
Yep.
Um yeah, let's talk about someof the things that are going on.
Home price growth is moderating.
Um we got this from Keeping CurtMatters.
I think we kind of talked aboutthis before.
It is at a 2.3%, is where whereit's at right now.
Nationally.
Uh nationally, exactly.
And that was uh the latestnumbers that were in.
This was actually prettyinteresting too.
(16:42):
Uh while national pricescontinue to climb, and we've
talked about this a lot, andit's funny that they're actually
saying this.
It's an economist forRealtor.com, Anthony Smith is
one that put this out there.
Local marketing conditions havebecome increasingly fragmented.
This is exactly what we've seenfor a while.
We've been saying that thisregional divide is expected to
(17:02):
continue influencing pricedynamics and sales activity as
the fall season gets underway.
What that means, what's I saidbefore, what you hear on the
news on a national level mightmay not be what's going on in
your backyard.
Uh it's fragmented.
The markets are very fragmented.
In fact, they're fragmentedwithin your own region.
Yeah.
In the school district.
School district could be evenwithin the school district, it
(17:24):
could be fragmented.
Yeah.
unknown (17:26):
Yeah.
SPEAKER_02 (17:26):
So that's something of Lower Alsys with the flood
and the school that they gotwiped out.
Yeah.
You know, that got prettyfragmented there.
Because on the other side of theschool district, it's fine.
You know, over on the hill roadside.
But if you're down in the lowarea there where Antietam Lake
is and all that stuff, nowthey're going to be building a
new uh school now.
SPEAKER_01 (17:44):
So they'll take care of most of the water stuff.
SPEAKER_02 (17:46):
That's something else to talk about.
Oh no, I shouldn't have saidthat.
Okay.
Sorry.
SPEAKER_01 (17:49):
We'll talk about it next time.
But I just I I think it's easythat it's interesting that
they're recognizing this that itis something that everybody is
seeing.
I'm loving it.
I'm loving they put that outnationally.
That was good.
And that was by uh Realtor.comactually who did that.
So I don't know if you haveanything else.
Did you see job growth is um alittle it's stalling out a
little bit?
SPEAKER_02 (18:08):
It's stalling out, which has one of those
affordability, right?
SPEAKER_01 (18:11):
You got it.
And that's one of the reasonsthat the Fed rate was uh
lowered.
Yep.
It's because of that.
Because inflation is still attwo more two point nine.
Uh unemployment's at 4.3, Ithink, when I looked at it last.
So those numbers are kind ofpoint nine, I think.
Yeah, so those numbers are arethey they're okay, but yeah,
this one here is interesting towatch.
It's still out.
(18:31):
Um but I did see from ADP.
It surprised me actually ADPsaid that we actually are plus
though.
They have more job because ADPputs out a report because they
do payroll.
Right.
So if they see, if they see morepeople added to payrolls, yeah,
they put out a report and says,hey, by the way, as far as we're
concerned, as one of the largestpayroll companies in the world,
(18:53):
we've seen an uptick.
Last month they saw it actuallygo negative.
Uh-huh.
This month they saw it gopositive.
Now, that could also be becauseduring the holidays, uh with the
holidays coming up, they starthiring.
Yeah, they hired.
SPEAKER_02 (19:07):
I just put all my kids on the payroll.
Maybe that's it.
SPEAKER_01 (19:10):
That could be it.
That could be.
Oh, did I just say that?
Sorry.
Exactly.
Uh IRS, don't listen.
Um, and then mortgage rates, theprojections are still pretty
much the same.
You're looking at between 5.9and 6.4.
Yeah.
And they ek they eked up afterthis last cut.
I think the 5.9 was actuallyfrom Hugo.
That was Hugo.
SPEAKER_03 (19:28):
That's right.
SPEAKER_01 (19:28):
He was like, uh 5.9, please.
Yeah.
This is his dream, is what thatis.
Yeah.
And then one more thing that Ithat I saw that I always like
to, we've brought this upmillions of times, is uh the
mortgage rate does not directlyis not directly affected by the
Fed rate.
SPEAKER_02 (19:47):
Uh yeah.
It's affected by That's why therates went up.
SPEAKER_01 (19:50):
10-year treasury yield is what it comes from.
Yeah, exactly.
SPEAKER_02 (19:52):
They went up.
They went up.
They just cut the Fed and thenthe rates went up.
SPEAKER_01 (19:56):
Yeah.
SPEAKER_02 (19:56):
And people go, why?
Why is that happening?
They don't understand.
How does that work?
SPEAKER_01 (20:01):
Obviously, they're not listening to our show.
They're not.
Come on.
Tune in, folks.
10-year treasury.
Let's go.
10-year treasury.
That's what it goes by.
But no, that's that's what I'vebeen seeing.
That's what's going on.
Um I don't know if you haveanything else that you can do.
SPEAKER_02 (20:13):
I don't know unless you want to talk about the one
more development that's goingon.
You want to wait until nexttime.
SPEAKER_01 (20:17):
Yeah, I mean, right down.
This is the good thing, too.
We talked about a mall closing,but talk about what we have.
Both mixed use.
Love it.
Mixed use is my favorite thing.
Yep.
Oh, I love mixed use.
Bring residential and commercialtogether.
Spring rich where we're talkingabout.
Spring rich, mixed use.
Mixed use.
Mixed use.
The best thing in the world.
SPEAKER_02 (20:34):
Planned urban development.
It's really, really good stuff.
But this next thing is right inthat vacant land that's been
there forever across from Barnesand Noble off a broadcasting
road, guys.
It's called the BroadcastingDistrict Development.
And it's in Spring Township.
I know you're you're on thefourth air, and I would talk to
Joey.
You guys are all fired up aboutit, which you should.
(20:56):
Yeah.
We love it.
$350 million project, guys.
It's going to be 100 acres,vibrant, just a booming area.
They've got You're getting WholeFoods.
Whole Foods is the anchor.
It's just going to be great.
Ruth Chris.
Oh, I can't wait.
I know, me too.
$2.1 million grant was given.
Um, it's going to be a gamechanger.
(21:17):
Uh obviously, Penn State Burksloves it.
Penn State Burks is right there.
But just think about$350 millioninvestment.
Coming into our right in thatarea.
SPEAKER_01 (21:27):
That's a lot of money.
And that's just the investmentgoing in.
Yep.
SPEAKER_02 (21:31):
Now just think about the tax dollars.
Oh my god, well, 775 new housingunits, guys.
Yeah.
SPEAKER_01 (21:36):
Yes, we need it.
Thank you, folks.
SPEAKER_02 (21:38):
Townhouses, single homes, condos, um, 116,000
square feet of retail.
There's gonna be a 110-roomhotel.
SPEAKER_01 (21:47):
Yeah, it's awesome.
SPEAKER_02 (21:47):
Um, and guys, this is right off of 222 broadcasting
road there, um, right down fromPenn State Burks, is right
there.
And the I can't wait to hear thenegativity.
SPEAKER_01 (21:57):
Oh well, you know, I'm actually picturing um
comments already in my head.
SPEAKER_02 (22:02):
And listen, folks, if you live in Stonehill Farm or
um Seven Oaks or any of thoseover there, I'd move.
No call Brad and I.
We'll we'll list your property.
We'll go list it.
No problem.
So think about buying it becauseit's probably gonna make your
value go up.
It really will.
SPEAKER_01 (22:16):
It's gonna take a while.
The walking path that's gonna bearound the walking path.
SPEAKER_02 (22:20):
Dog park.
Yeah.
SPEAKER_01 (22:21):
Little dog park area.
I mean, it's it's prettyawesome.
I've seen it.
I've been working on well, I'vebeen working on as a planning
commission for two, two, two anda half years.
And there is a schematic here.
It's amazing.
It really is.
SPEAKER_02 (22:32):
It's you know, it's I don't know if you can see it,
but it's it's a whole lot ofYeah, it's it's it's really
gonna be neat.
SPEAKER_01 (22:37):
It's gonna be cool.
We got a Dave's hot chickencoming in, or Dave's famous hot
chicken coming in.
Yeah, that's another big one.
Um I'm trying to think of someof the other ones.
Whole Foods is very popular.
Oh, Whole Foods is that'sactually the yank one of the
anchors.
That's that's a big one.
Yeah.
Uh but no, it's gonna be great.
And that's the kind of stuffthat, you know, yes, the mall's
not doing well.
We can also talk about the nexttime.
What we will talk about is Crownthe Crown Plaza Hotel.
(22:58):
Okay, let's talk about that.
A lot of people have questionsabout that.
Yeah, yeah.
We can talk about that too,because that's definitely one
coming up that we'll need to diginto and find out what's going
on.
But I know there's there'sthings going on there too.
Yeah.
So it just shows you, communitygets together.
We need we know we need newthings.
We know that the mall's notworking out.
You get a developer to buy it,turn it into something that
people use, you know?
(23:18):
Yeah.
It brings in tax dollars andmakes everybody's life better.
SPEAKER_02 (23:21):
Yep.
My big question mark in there isthe rock outcropping.
What's that?
The rock outcroppings that arepossibly in there.
Aaron Ross Powell The Rockoutcroppings?
What is that?
Well, rock, bedrock.
SPEAKER_01 (23:32):
Oh, close to the service.
I'm like thinking rock and roll.
Yeah, we're gonna be hearingboom, boom, boom.
Oh, yeah.
Oh, you're definitely gonna.
SPEAKER_02 (23:39):
Because you know, there's a lot of areas here that
haven't been developed for acouple of reasons because they
do rock taps.
Yep.
And it adds.
It adds to the cost of thedevelopment.
SPEAKER_01 (23:47):
So if it's somebody you don't like, tell them to go
down there that day and watchit.
And just watch it.
Just go down.
Get real close.
Get real close.
Get real close.
SPEAKER_02 (23:54):
Don't worry about that mat land.
SPEAKER_01 (23:56):
Just wear wear a helmet.
You'll be fine.
Just wear a helmet.
It's not a big deal.
Yeah, the mat.
It says nobody.
Oh my God.
All right, there you go.
The new and improved, PeteHyman, Brad.
Monthly show, talking about allkinds of stuff.
We got into numbers, but we'realso getting into some of the
local stuff going on.
Let us know again about yourmall in your area.
Not your mall, your mall.
Um, and we would love to hearabout what's going on with that
(24:18):
because I think it's it'sprobably happening everywhere.
So that's about it.
Tune in every Thursday, 7 p.m.
We'll see you.
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