March 13, 2025 • 24 mins
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The wealth-building power of real estate compared to stock market investments takes center spotlight in this data-rich episode. Brad Weisman, and our Monthly Guest, Pete Heim unpack some truly jaw-dropping statistics: while real estate and stocks showed comparable 5-year returns (57% vs 58%), the 25-year comparison reveals a staggering difference—real estate appreciation soared to 321% while stocks limped along at just 42%.
Current market indicators paint an intriguing picture. Despite higher-than-historical interest rates hovering around 6.7%, buyer activity is surging, with mortgage applications up 37% since January and showing activity increased by 13%. Yet inventory remains stubbornly low, creating fierce competition for available properties.
Perhaps most concerning is the revelation that only 24% of current buyers are first-time homebuyers—the lowest percentage since 2000—with the average first-time buyer now 38 years old. These buyers are missing crucial years of equity building during what's proven to be an extraordinary wealth-creation vehicle over time.
The hosts dispel common misconceptions about institutional investors, who represent just 0.3% of purchases, far overshadowed by traditional "mom and pop" investors at 18%. They also discuss how return-to-office mandates may force approximately 26% of remote workers to relocate, potentially shifting inventory dynamics in certain markets.
For Pennsylvanians, there's an unexpected silver lining: the state enjoys the lowest homeowners insurance rate increases nationwide, unlike disaster-prone regions experiencing premium spikes. Combined with the fact Americans now stay in their homes an average of 9.3 years (up from the traditional 5-7), this episode provides essential context for understanding today's complex housing landscape and making informed real estate decisions.
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Welcome to The Brad Weisman Show, where we dive into the world of real estate, real life, and everything in between with your host, Brad Weisman! 🎙️ Join us for candid conversations, laughter, and a fresh take on the real world. Get ready to explore the ups and downs of life with a side of humor. From property to personality, we've got it all covered. Tune in, laugh along, and let's get real! 🏡🌟 #TheBradWeismanShow #RealEstateRealLife
Credits - The music for my podcast was written and performed by Jeff Miller.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Here we go From.
Real estate Affects the marketas a whole, which then sometimes
will affect the 10-yeartreasury Right.
Speaker 2 (00:08):
It'll come in To real life.
Speaker 1 (00:10):
We all learn in different ways.
You're right, if you thinkabout it, wayne Dyer might not
attract everybody, andeverything in between.
Speaker 2 (00:18):
The mission was really to help people just to
reach their full potential.
Speaker 1 (00:21):
The Brad Wiseman.
Speaker 2 (00:22):
Show and now your host, brad.
Speaker 1 (00:26):
Wiseman All right, we are back.
We are back.
Oh man, this is going to be agood show, because every time we
have this guy in the studioit's always kind of fun we enjoy
when he's here.
You also might have noticed wehave a new intro.
Pete, did you notice that?
I thought it was me, youthought it was you.
Intro Pete, did you notice that?
I thought it was me, youthought it was you, you thought
it was you?
Speaker 2 (00:45):
It wasn't you.
Did you think you had voices inyour head?
I did the other ones.
Speaker 1 (00:48):
We shouldn't have said anything, Hugo.
We should have just been likewhat, what do you mean?
We didn't hear anything.
We just heard music.
But no, Pete's back.
This is our real estate show,what we do for a living which is
a good thing.
I like the vest, by the way.
My mission is to be like you.
Yeah, that's a bad mission.
Speaker 2 (01:08):
Bad mission.
I want to be like Brad.
Yeah, yeah, yeah, brad, yep.
Speaker 1 (01:12):
Okay, but it is a nice vest.
Oh, it's very nice, thank you.
Speaker 2 (01:14):
It's very nice, is that a polo?
He's bringing the show up alittle bit, that's right.
Speaker 1 (01:23):
Mine's a pono, or it's just po.
It's just po, all right, let'stalk about some real estate
today I shop secondhand stores.
Yeah, yeah, it's all right.
I thought I saw that atGoodwill.
So, yeah, let's talk about somereal estate here.
Speaker 2 (01:38):
Yeah.
Speaker 1 (01:39):
Right off the bat 332 homes, I think.
I just said on the market.
You said this morning youchecked and it was it was 325,
so seven listings came on.
Speaker 2 (01:47):
That didn't sell, I guess.
Speaker 1 (01:48):
Yes, yes, seven listings so you got seven
listings, say, and I'm going tocheck real quick um the rates.
The rates, they're down,they're down, they're down did
you see what?
And they're still down.
Speaker 2 (01:57):
I just checked again I have it on here, it's yeah,
they're.
They are like what 6.75 in thatrange it was 6.79 on the app,
but then I just saw a 6.625 comeacross.
That's wonderful.
Like what An hour ago?
That's wonderful, yeah.
Speaker 1 (02:10):
Yeah, and I think that's probably because we're
seeing some signs that theeconomy is not doing as well as
we thought, yep, and I thinkwhat's going to happen is that
those rates will come down.
Speaker 2 (02:22):
If that's the case, Yep, yep, yep, all that.
So what do you got for me today?
Speaker 1 (02:33):
So last episode we spoke about real estate
appreciation and how it relatesto the stock market.
Do you remember?
Yes, that was it.
Do you remember, Hugo?
We forgot.
Speaker 2 (02:39):
Even Hugo forgot.
Yeah, we forgot.
Amazing, but I checked it, itout once did you check it out?
Speaker 1 (02:44):
I checked it out last day, so what?
So yeah, this is, this is begood, this will be good.
Speaker 2 (02:50):
So um the 2019 to 2024, yeah, our residential home
appreciation went up 57.4percent in those five years,
right okay, say it again 2019 19to 24 24 got it okay 57.4 in
the nation.
Speaker 1 (03:07):
Pennsylvania was 54 okay, okay, not far yeah, the
stock market, are you ready?
Speaker 2 (03:12):
yeah, went up 58.76 percent.
Now there's there's acorrelation here.
Now just let me just yeah, itwas a little more, it is a
little more.
2019 to 2024 yes okay, okay,then remember, we went back to
1999, to current oh, and theresidential real estate market
(03:34):
went up 321.6 percent.
Do you remember?
Speaker 1 (03:37):
that yep, I remember that yep I remember that.
Speaker 2 (03:39):
So what did the stock market do in that timeframe?
Speaker 1 (03:43):
Oh, I'm going to say you mean.
So that's now from 99 to 2024.
Speaker 2 (03:49):
Q1, q1 1999 to the end of 24.
To the end of 24.
January 1.
Speaker 1 (03:54):
So you said before it's 50, some percent, when it
was the smaller.
Speaker 2 (03:56):
It was 57 percent.
Speaker 1 (03:58):
I'm going to say 70 or 80 percent.
Speaker 2 (04:02):
You ready.
Speaker 1 (04:03):
Yeah 41.95 percent's really wow and real estate's 300
and some percent yeah 321.
Speaker 2 (04:11):
Stock market was 41.
Wow, well, 08 was in there.
Got it right, got it.
Uh, were there two crashes inthere?
There was one at 03 too, wasn'tthere?
Speaker 1 (04:21):
um, I'm trying to remember there was nothing big,
nothing as big as right.
Yeah, no, eight with oh, eightwas the biggest right.
Speaker 2 (04:28):
Yeah, here's the the moral of that story is what is
the moral of the story?
Real estate is phenomenal onlong term yeah, it's phenomenal
on long term.
And the market, the stockmarket, stays steady.
Yeah, it's.
I mean it was 58.76 in thosefive years.
And then going back, how manyyears is that?
Speaker 1 (04:46):
25 years, it's 42 yeah, but that means there was
times though, but doing this,doing a lot of that.
Yeah, we only we do this.
Yep, come down a little bit goup, come down a little bit.
Right, they do more like thisyeah that's really yeah, but
that's a big difference.
I mean, and that just shows you.
(05:07):
You know, wealth is developedno pun intended is developed by
real estate.
Speaker 2 (05:12):
I mean 321,000.
Speaker 1 (05:14):
Yeah.
Speaker 2 (05:14):
I mean 321%.
Speaker 1 (05:15):
Yeah.
Speaker 2 (05:16):
Think of, I mean.
Speaker 1 (05:18):
Hugo, what if you would have bought your house
back then?
Speaker 2 (05:20):
Oh man, man, I wouldn't be here right now.
Speaker 1 (05:23):
Oh man, man, I wouldn't be here, right now, he
was born in 99,.
Speaker 2 (05:25):
For Christ's sakes, when were you born, hugo?
That's right 97.
91.
91.
Man, I was in she's eight yearsold.
Speaker 1 (05:33):
I would have sold your house.
First grade, first grade, geezyeah.
Speaker 2 (05:37):
All right, he would have sold your house for sure.
Speaker 1 (05:39):
Absolutely.
I would have visited him injail then, like a cake yeah
that's right.
I'd be like, hey, you want tobuy a house?
Speaker 2 (05:48):
Yeah, no problem, eight-year-old kid, yeah, kid.
Speaker 1 (05:51):
That's incredible.
Those are some pretty awesomenumbers.
Speaker 2 (05:54):
The good news with the stock market is, I guess
it's steady enough, right, sothat's the good thing for them,
but ours, I mean, that'sunprecedented.
Where are you going to get 300%out of something?
Speaker 1 (06:05):
But it also shows you that stocks are stocks, the,
the, the wall street isdefinitely more.
You got to stay in it becausethere was times we talk about,
like real estate, like 2008through 2010 was really bad,
yeah.
Okay, people lost their houses,whatever, right, right, but the
stock market if the fact thatit's only 40% in that long
(06:25):
period of time, there wasdefinitely times where the
people lost some serious cash.
Speaker 2 (06:29):
Yeah, because they sold when it was down or
whatever.
Speaker 1 (06:31):
Exactly, yeah, yeah, and that's the thing.
Speaker 2 (06:33):
And that happened to real estate in 2009, 2010.
Speaker 1 (06:36):
A lot of people that I know.
Big investors that had a lot ofcash, bought a lot of
properties in 2008, 9, and 10.
Right, If you had the cash, youcould do it.
If you didn't, you weren'tgetting loans.
Speaker 2 (06:47):
Right, nobody was lending money, but if someone's
been in their home for over 26years, that's crazy.
Speaker 1 (06:53):
Yeah yeah, that's a lot of money, right?
Yeah yeah, it's a lot of money.
Speaker 2 (06:57):
I mean so people.
Speaker 1 (07:05):
I mean, if you, you made over 300% yeah, dude,
that's amazing.
Well, there's that whole sayingum, don't wait to buy real
estate, buy real estate and wait.
That's it.
Speaker 2 (07:09):
That's where the saying comes from and if you did
that, kudos to you, becausethat's what you did.
Speaker 1 (07:13):
Yeah, we should have pretty cool, right.
Speaker 2 (07:15):
Yeah, oh I know I wish I still owned every house.
I bought Absolutely.
Speaker 1 (07:18):
It's amazing, right, yep.
So what else you got?
Speaker 2 (07:21):
We talked about interest rates.
Right, they're coming down.
They were in the seven range,right.
So now they're down 6.7,whatever, and they're all over
the place.
Speaker 1 (07:32):
So if you're going to buy a property right now and
you're putting a house undercontract, don't mess around.
Just lock in, lock the rate,yep, because you're going to
find that that rate's going tokind of do this, it's going to
kind of do this, it's going todo that for this whole year.
Everything now is coming outsaying we're not going to be
going as low as we thought wewould go.
Right, exactly All thestatistics are looking a little
different now.
Speaker 2 (07:50):
Yep and I have some market swing stats here.
Since January, mortgageapplications are up 37%.
That's good.
Since January 1st.
Speaker 1 (07:58):
Yeah, and that's a precursor that tells you buyers
are getting approved.
Speaker 2 (08:02):
Yep, they're getting approved, which is good.
So if you're going to sell,there's more buyers coming in.
Yep Buyer demand index is up 3%since January 31st.
Speaker 1 (08:13):
Okay, that's a lot.
So that's again an indicator.
Speaker 2 (08:16):
Showing activity and showing time is up 13%, is it
Yep?
Since January 1.
Speaker 1 (08:21):
Wow, so there's more people looking that's
interesting, and which is whyinventory is not, is just it's
just hurting.
Yeah, it's staying flat, whichis which is going to well.
There's two things that canhappen, Like we talked about
before, If, if rates, there's a,there's a magic number that
just heard on another show,another podcast.
They said magic numbers like5.875 or something like that.
(08:51):
What?
As far as interest rate?
As far as interest rate wherethe sellers will decide, it's
worth it now to give up my threeand a half percent rate to go
and do what I want to do.
Okay, and and because the theloss spread between what they're
bringing to the next house asfar as cash and all the other
numbers, it it actually a 5.875or 5.7, it was like right in
that range.
Then they did all thecalculations.
They think that's the numberthat it would hit that sellers
(09:12):
will just start the pent-updemand, or I should say that,
yeah, the pent-up sellers thataren't selling because the
rate's being so high they'llmove Really Yep, and that's in
analyzing their increase inequity, I guess.
It's analyzing everything.
It's saying taking the cash outof their house, yeah, and the
other thing you got to look attoo the people that don't have
much of a mortgage and don'thave and have low interest rate.
(09:36):
They're missing out on some taxsavings.
Speaker 2 (09:39):
Oh yeah.
Speaker 1 (09:40):
If you're paying three and a half percent and you
only owe 40,000 on your houseand you have a house that's
$500,000, you're not.
You're not it's, yeah, it'smostly all principal so you're.
you're leaving money on thetable with the IRS, so the IRS
is taking it.
So would you rather have itthat the money goes towards what
you live in or do you want itto go to the IRS?
Towards what you live in or doyou want it to go to the IRS?
So those were those numbersthere start to really start to
(10:01):
take effect.
Speaker 2 (10:02):
Yeah, there's a lot of people in that boat, I have a
feeling.
Oh my gosh, yes, absolutely.
Speaker 1 (10:05):
Yeah, yeah, exactly, so it just it's interesting what
I saw.
Speaker 2 (10:09):
Who did that study?
Speaker 1 (10:10):
I don't, it was actually a podcast.
I was listening to and the guywas on like numbers and things
like that and it was aprediction.
But he said, when they did allthe numbers and they're looking
at interest rates, it was likeit's a little under six is where
they see the sellers will go,Yup, and they might've done
surveys too.
I mean, you could do a surveyof anybody that owns their home
at three and a half percentinterest rate and say, hey, you
(10:31):
know, would you move?
What's the number that wouldmake it that you would put your
house on the market?
Right, Because there's, youknow, in those situations
there's a need.
It's not a want to move,there's a need that they're
putting off and a lot of timesit's no steps, warmer weather,
you know all those things, andthey're not.
They're putting it off, hopingto make a better move when the
(10:54):
rates come down.
Speaker 2 (10:55):
Right yeah that that increase in price yeah but and
and plus the increase of theequity of the current home, the,
and a new loan at 5.875 versusat three and a half plus the tax
savings payments yeah, plus thetax savings yeah, the payments
like payments about the same,maybe it you know and also
there's nothing wrong withpaying a little more if it's
(11:16):
what you really, really want orneed or want.
Yeah, you know what I mean.
Right, it's true.
Speaker 1 (11:20):
So I mean, we talk about that all the time.
You know, is this home worth itfor you if you spend another
$200 a month?
Speaker 2 (11:25):
Of course, it is Of course, yeah, yeah.
Speaker 1 (11:27):
Who's going to walk away from the house that they
really want for $200 more amonth Exactly.
That's not going to happen werereally interesting, and this is
a number that we went.
This is from the KellerWilliams convention I was at in
Vegas and I wanted to share thiswith you, which was really
interesting.
I talked about this at theoffice meeting.
(11:47):
This was the lowest that hasbeen around since 2000,.
First-time home buyers 24% ofthe buyers are first-time buyers
.
Speaker 2 (11:59):
Only 24%.
Speaker 1 (12:01):
The the highest was in 2010,.
50% of the buyers were were, uh, first-time buyers.
Wow, so this is the lowestpercentage since the year 2000.
So in 24 years, the lowestamount of first-time homebuyers
are in the market right now.
Speaker 2 (12:19):
Wow.
Speaker 1 (12:19):
Yeah, that is interesting.
And it's also the highest ageof first-time buyers.
The average is 38.
Really, is that stillmillennial?
38.
Is that still millennial?
I don't know if it is stillmillennial.
I'm not so good with those.
Speaker 2 (12:33):
I don't know when they started?
Yeah, I never know either.
Because, yeah, I never knoweither.
Because when you see that, likeKCM and some of those, they use
the generations- yeah, yeah,yeah sure.
Like millennials, like it's thesecond biggest bubble versus
like the baby boomers Right.
So is that?
Oh, it's the one after Gen Z,gen Z that might be a Gen Z-er.
Speaker 1 (12:55):
Gen X I think I'm Gen X, actually Whatever's right
after the baby, for this is thecost, because you know you're
buying your first home.
You know it's very it's hard tobuy your first home today
Because what's happening isthey're getting beat out by the
cash buyers.
They're getting beat out by thesecond time buyers that have a
lot of cash and putting a lot ofmoney down and interest rates
(13:17):
are high.
So it's really hard for them.
So, 38 years old as the averagefirst-time buyer, that's
amazing.
Speaker 2 (13:24):
It's old.
Speaker 1 (13:25):
I mean it shouldn't say old, but it's old I mean
most of the time it was earlytwenties, mid twenties, maybe
late twenties.
Speaker 2 (13:31):
Yeah, they're missing out on so much more.
Speaker 1 (13:33):
Well, that's the thing is they're building wealth
at a much later date in life.
Now, they're living longer too,most likely, right, right,
that's true.
Speaker 2 (13:42):
You said 24%.
24%, get this.
I thought you had the same statI had, but I looked it up.
I know it wasn't.
24% of buyers are looking forADUs accessory dwelling units.
No way, that's funny.
Is that the?
Speaker 1 (13:58):
same 24% they want mom and dad to put an ADU in the
backyard.
Maybe that's why they're safe.
That's funny.
Speaker 2 (14:07):
But it's the same number.
Speaker 1 (14:08):
Yeah, it is the same number.
That's wild, makes you wonder.
So I thought that was a coolstat, that's a great stat?
Yeah, it's a good one.
So what else you got?
Speaker 2 (14:18):
I keep getting this institutional buyer thing.
Speaker 1 (14:21):
Oh man, I just heard it again.
Did you see that again?
Just heard it again.
Speaker 2 (14:25):
Okay, folks, put your fears to rest.
I just heard it again it's 0.0.
I always think of it as 0.0.
Speaker 1 (14:34):
0.0.
No, it's a very low percentage.
It's 0.3.
Speaker 2 (14:42):
0.0.
No, it's a very low percentage0.3.
0.3.
Yeah, 0.3% of all the buyers inthe world are institutional
buyers.
Guys, I just heard, you know, Iheard a politician just talk
about that again.
Speaker 1 (14:47):
Again, it said that and unless, unless it's here's
the only thing I can think ismaybe it's happening in New York
city, Maybe it's happening inthe big cities that were black
rock or whatever.
Those are buying up theproperties.
But then I keep going back tothis they're not buying him and
keeping him vacant, they'reputting people in it's still
housing.
Speaker 2 (15:06):
But, brad, 0.3% is almost zero.
Yeah, I mean the mom and popsare 18.
Speaker 1 (15:13):
Yeah, yeah 18% on just the investor side yeah.
Speaker 2 (15:17):
I don't get it Right.
Percent yeah, on just theinvestor side.
Yeah, I don't get it right.
I just it doesn't make sense,it's so trumped up.
Speaker 1 (15:23):
Oh, I shouldn't say that it's so, it's so perked up.
We.
We are sorry for what was justsaid we didn't say that.
Speaker 2 (15:28):
You know the word trump doesn't mean president
trump, it means other things,but it's beefed up to be this
big problem.
Yeah, it's not.
In fact, I don't even know ifthere's one or two in Berks
County that I know of.
Speaker 1 (15:40):
I've never heard of it, really Never heard of it, I
know.
Speaker 2 (15:42):
Carpenter used to buy them and Dana used to buy them,
but who's out of business now?
I don't know yeah.
Speaker 1 (15:48):
I know it doesn't make sense to me.
Speaker 2 (15:52):
So that's just not even there.
Speaker 1 (15:53):
It's not even there.
Yep, yep to buy a home thisyear.
15% when they did the poll.
Speaker 2 (15:58):
I saw that 15%.
Speaker 1 (16:00):
50% said that they were looking to buy a home this
year.
15%, yeah, yeah, which is good.
Speaker 2 (16:05):
Yeah, it's really good.
Speaker 1 (16:06):
I mean it was 11% last year, 10% in 23.
It's the highest since 2020.
Yep, which is actually amazing.
But just because they want todoesn't mean they're going to be
able to find it 15% want to buy.
The other 50% or 60% are pissedoff that they haven't found
anything yet.
So there goes that one.
(16:27):
We'll just get rid of that.
Speaker 2 (16:28):
But what else do you have?
Well, the last thing I have asfar as numbers go is you know,
people are coming back to worknow.
Speaker 1 (16:34):
Yeah, oh, this is a good one.
I know exactly what you'retalking about.
I love it, dude.
Go ahead and talk about it.
Speaker 2 (16:42):
And they asked I think this is a KCM.
They asked how many people haveto move because they're being
called back to work.
Speaker 1 (16:48):
Yeah, yeah, yeah 11%.
Speaker 2 (16:49):
Said definitely yes.
Speaker 1 (16:50):
Yeah, I know.
Speaker 2 (16:51):
And then 15% said probably yes, yep, and then
there was a no, but the commuteis pretty long.
At 25% and then 49%.
Now I'm good, I'm close to workanyway, close to work anyway.
But, dude, that's almost 50% ofpeople who are calling back to
work.
That probably have, because ifthey didn't mandate you come
into the office, shoot, I don'tknow about you, I'm going to the
(17:12):
Virgin Islands or somethingstupid of that?
Yeah, Because they they andthey might've.
Here's the thing.
Speaker 1 (17:21):
They might've already moved Right, because they could
work from home to where theyreally wanted to live, and now
they got to move back.
No, got to go.
Could you imagine that?
Yeah, yeah, hugo, you're notworking remotely, just so you
know.
Speaker 2 (17:45):
Okay, you know.
Okay, I just want to let youknow that I'm pretty sure
newcastle and and myself werelike no, you're not working
remotely.
That's right.
But I have a friend clientwho's been in florida for 15 16
years now and she's completelyhurricaned out.
Oh yeah, I've heard a couplepeople.
Speaker 1 (17:52):
She's moving back home yeah, well, they got hit a
lot, so there's some of that.
Speaker 2 (17:56):
I mean some of that going on too, but yeah, I
thought that was interestingwhen people come back to work.
They got to move back.
Yeah, it's crazy.
Speaker 1 (18:01):
They got to move back .
Speaker 2 (18:02):
Well and, but what are you going to do?
Or if you don't, want a job.
Speaker 1 (18:05):
That's different.
You know what's interesting too.
You just told me in Florida Iwas thinking about insurance and
everything else with Florida.
That's the other thing.
I don't know if this was onKeeping Current Matters or if it
was down in Keller Williams atthe convention, pennsylvania.
We're in a good spot.
We have the least increase ininsurance out of the country,
(18:28):
like our state and a coupleother ones are the least amount
of increase for insurance, forhomeowners insurance, it is yeah
.
And then you know where the badones were Like it was ours was
like a white, and then you know.
You know what the bad ones werelike it was ours was like a
white.
And then like the california,florida, new orleans those were
all like like dark blue, likeyeah, like, oh yeah like 50
increased like oh crazy, oh yeahcrazy.
(18:51):
So, as pennsylvanians, we're ina good spot here for that we are
.
We're not.
Speaker 2 (18:55):
We're not going up as much as everybody else, and
that market is micro, local too,like our real estate market
absolutely now, unless it's abig national company, okay, and
I have a couple insurance guys Iknow I stay close with and, uh,
I like to stay involved in thattoo, because it affects us sure
it does and no nationally, thebig nationals.
We pay for the fires incalifornia oh yeah of course,
(19:18):
and that what they do is theyunderwrite it out.
Speaker 1 (19:20):
They spread it out on yeah in underwriting ways.
Oh, it does spread out, butwe're not paying what they're
paying, but not the regionalcompanies.
Speaker 2 (19:27):
Oh okay, like Donegal and some of the other regional
companies, they're just here, ohwow.
I didn't realize that All theyhave to deal with is here.
Speaker 1 (19:34):
Right, so they're not hit by it.
Speaker 2 (19:36):
I think that's regional.
So anything that's regional,it's going to be okay yeah yeah,
it's not going to be as bad.
Speaker 1 (19:42):
Interesting.
Yeah, that's interesting, yeah,so the other thing that I saw,
a couple of things in here.
Let me just go through this.
Sitting on equity we talk aboutthis how many times this is
that American sitting on equity,68.3% have paid off their
mortgage.
Yeah, or yeah, or have at least50% in equity.
There's still so much equityout there so much equity.
(20:05):
What did that trillion dollarnumber we talked about?
Oh, it was like, yeah it was.
I forget what it was.
Trillions of dollars, it was alot.
Seven trillion or somethinglike that it was crazy yeah, how
much equity there is.
Do you remember that number?
Hugo's tired.
He's really bored you overthere.
By the way, you couldn't seethis, but Hugo did.
A huge yawn Makes us feelreally good about the show.
(20:25):
Hugo, do you have any questionsthat have nothing to do with
sleeping?
No, no.
Speaker 2 (20:31):
I'm just excited for spring market people coming up.
Speaker 1 (20:36):
It's getting busy, it is, it is picking up and I
think, once again, we had thefirst real winter in a long time
that's so you know we'redealing with seasonality, yep,
and low and low inventory, sothe it's a double whammy this
year, but I think hopefullywe're done with all the snow and
well, blue marsh lake wasfrozen over.
Yeah, for the first time, Ithink, in years, seven years
(20:56):
yeah, completely frozen a littlespot of ice here and there but
the whole thing was solid yeahyeah, I'm trying to think if
there's any things oh, this wasthe other thing, and we talked
about this before too which Ithink is a lot to do with also
the reason we don't haveinventory, which is people are
staying in their homes longer.
Ah, yes, they are, Remember weused to always say five to seven
years.
Five to seven, that's what itwas.
What is years?
(21:25):
Okay, the average was, then itwent to seven or something and
now it is 9.3 years.
Oh, really, yeah, from 2009 to2024 interesting, yeah, 9.3
years, that's a lot.
Speaker 2 (21:31):
That's a lot, it's a lot that's why the home
improvement industry boomed andpeople got that.
That's exactly right, becausethey're fixing instead of moving
, yep yeah, staycations yes,staycations, exactly right.
Speaker 1 (21:41):
Yep, all right, we have anything else or not?
I think we covered a lot.
Speaker 2 (21:44):
No, did you want to talk about BroGlo?
Yeah, we can talk about.
Speaker 1 (21:47):
BroGlo, absolutely.
Thanks for bringing this up.
You know what's funny?
They're not even sponsoring theshow.
I just love these guys, they'rejust really good guys.
But I've been using this on myface and it actually has made me
a little tanner.
I didn't use it today, but likethree or four, three days I
used it and it really works.
My wife's using it now.
She's not a bro, but she is aglow, but this is.
(22:09):
It's really good.
These guys weren't Shark Tank,they're local.
They're from the Exeter andBirdsboro area, and Mark Cuban
is the one that signed up tohelp them move this thing along.
Speaker 2 (22:19):
He never signs people .
No, he doesn't.
He's like the hardest.
Speaker 1 (22:22):
This is a good product, though, if you met
these guys and we have them onthe wall over here.
If you met these guys, hugo,you know they're fun, a lot of
fun.
Yeah, and uh, I just want to,you know, put a shout out to
them.
I'm going to keep it here for alittle bit, until the show airs
, because, uh, I think it's agreat product.
I just thought you were at thebeach again.
Yeah, what do you mean?
Speaker 2 (22:39):
again.
I don't know what you mean byagain.
Speaker 1 (22:44):
So, yeah, you have to try this stuff out.
Broglo Just go online, look upBroGlo.
It's the original BroGlo.
It is face tanner and they alsohave body tanner, all this
other stuff, cool, yeah, itworks really well If you're
looking to get rid of the whitepasty winter.
Look, that's the way to do it.
That's the way to do it.
There you go, right, hugo,that's right.
That's right.
That's right.
All right, thanks, pete, forcoming in.
We appreciate it, like always.
(23:04):
All right, there you have it.
Pete Heim is here.
Broglow is here.
We're here every Thursday at 7pm.
Check us out on Facebook,instagram, youtube wherever you
find your podcasts, we are there.
Here we go From.
Real estate Affects the marketas a whole, which then sometimes
will affect the 10-yeartreasury Right.
Speaker 2 (00:08):
It'll come in To real life.
Speaker 1 (00:10):
We all learn in different ways.
You're right, if you thinkabout it, wayne Dyer might not
attract everybody, andeverything in between.
Speaker 2 (00:18):
The mission was really to help people just to
reach their full potential.
Speaker 1 (00:21):
The Brad Wiseman.
Speaker 2 (00:22):
Show and now your host, brad.
Speaker 1 (00:26):
Wiseman All right, we are back.
We are back.
Oh man, this is going to be agood show, because every time we
have this guy in the studioit's always kind of fun we enjoy
when he's here.
You also might have noticed wehave a new intro.
Pete, did you notice that?
I thought it was me, youthought it was you.
Intro Pete, did you notice that?
I thought it was me, youthought it was you, you thought
it was you?
Speaker 2 (00:45):
It wasn't you.
Did you think you had voices inyour head?
I did the other ones.
Speaker 1 (00:48):
We shouldn't have said anything, Hugo.
We should have just been likewhat, what do you mean?
We didn't hear anything.
We just heard music.
But no, Pete's back.
This is our real estate show,what we do for a living which is
a good thing.
I like the vest, by the way.
My mission is to be like you.
Yeah, that's a bad mission.
Speaker 2 (01:08):
Bad mission.
I want to be like Brad.
Yeah, yeah, yeah, brad, yep.
Speaker 1 (01:12):
Okay, but it is a nice vest.
Oh, it's very nice, thank you.
Speaker 2 (01:14):
It's very nice, is that a polo?
He's bringing the show up alittle bit, that's right.
Speaker 1 (01:23):
Mine's a pono, or it's just po.
It's just po, all right, let'stalk about some real estate
today I shop secondhand stores.
Yeah, yeah, it's all right.
I thought I saw that atGoodwill.
So, yeah, let's talk about somereal estate here.
Speaker 2 (01:38):
Yeah.
Speaker 1 (01:39):
Right off the bat 332 homes, I think.
I just said on the market.
You said this morning youchecked and it was it was 325,
so seven listings came on.
Speaker 2 (01:47):
That didn't sell, I guess.
Speaker 1 (01:48):
Yes, yes, seven listings so you got seven
listings, say, and I'm going tocheck real quick um the rates.
The rates, they're down,they're down, they're down did
you see what?
And they're still down.
Speaker 2 (01:57):
I just checked again I have it on here, it's yeah,
they're.
They are like what 6.75 in thatrange it was 6.79 on the app,
but then I just saw a 6.625 comeacross.
That's wonderful.
Like what An hour ago?
That's wonderful, yeah.
Speaker 1 (02:10):
Yeah, and I think that's probably because we're
seeing some signs that theeconomy is not doing as well as
we thought, yep, and I thinkwhat's going to happen is that
those rates will come down.
Speaker 2 (02:22):
If that's the case, Yep, yep, yep, all that.
So what do you got for me today?
Speaker 1 (02:33):
So last episode we spoke about real estate
appreciation and how it relatesto the stock market.
Do you remember?
Yes, that was it.
Do you remember, Hugo?
We forgot.
Speaker 2 (02:39):
Even Hugo forgot.
Yeah, we forgot.
Amazing, but I checked it, itout once did you check it out?
Speaker 1 (02:44):
I checked it out last day, so what?
So yeah, this is, this is begood, this will be good.
Speaker 2 (02:50):
So um the 2019 to 2024, yeah, our residential home
appreciation went up 57.4percent in those five years,
right okay, say it again 2019 19to 24 24 got it okay 57.4 in
the nation.
Speaker 1 (03:07):
Pennsylvania was 54 okay, okay, not far yeah, the
stock market, are you ready?
Speaker 2 (03:12):
yeah, went up 58.76 percent.
Now there's there's acorrelation here.
Now just let me just yeah, itwas a little more, it is a
little more.
2019 to 2024 yes okay, okay,then remember, we went back to
1999, to current oh, and theresidential real estate market
(03:34):
went up 321.6 percent.
Do you remember?
Speaker 1 (03:37):
that yep, I remember that yep I remember that.
Speaker 2 (03:39):
So what did the stock market do in that timeframe?
Speaker 1 (03:43):
Oh, I'm going to say you mean.
So that's now from 99 to 2024.
Speaker 2 (03:49):
Q1, q1 1999 to the end of 24.
To the end of 24.
January 1.
Speaker 1 (03:54):
So you said before it's 50, some percent, when it
was the smaller.
Speaker 2 (03:56):
It was 57 percent.
Speaker 1 (03:58):
I'm going to say 70 or 80 percent.
Speaker 2 (04:02):
You ready.
Speaker 1 (04:03):
Yeah 41.95 percent's really wow and real estate's 300
and some percent yeah 321.
Speaker 2 (04:11):
Stock market was 41.
Wow, well, 08 was in there.
Got it right, got it.
Uh, were there two crashes inthere?
There was one at 03 too, wasn'tthere?
Speaker 1 (04:21):
um, I'm trying to remember there was nothing big,
nothing as big as right.
Yeah, no, eight with oh, eightwas the biggest right.
Speaker 2 (04:28):
Yeah, here's the the moral of that story is what is
the moral of the story?
Real estate is phenomenal onlong term yeah, it's phenomenal
on long term.
And the market, the stockmarket, stays steady.
Yeah, it's.
I mean it was 58.76 in thosefive years.
And then going back, how manyyears is that?
Speaker 1 (04:46):
25 years, it's 42 yeah, but that means there was
times though, but doing this,doing a lot of that.
Yeah, we only we do this.
Yep, come down a little bit goup, come down a little bit.
Right, they do more like thisyeah that's really yeah, but
that's a big difference.
I mean, and that just shows you.
(05:07):
You know, wealth is developedno pun intended is developed by
real estate.
Speaker 2 (05:12):
I mean 321,000.
Speaker 1 (05:14):
Yeah.
Speaker 2 (05:14):
I mean 321%.
Speaker 1 (05:15):
Yeah.
Speaker 2 (05:16):
Think of, I mean.
Speaker 1 (05:18):
Hugo, what if you would have bought your house
back then?
Speaker 2 (05:20):
Oh man, man, I wouldn't be here right now.
Speaker 1 (05:23):
Oh man, man, I wouldn't be here, right now, he
was born in 99,.
Speaker 2 (05:25):
For Christ's sakes, when were you born, hugo?
That's right 97.
91.
91.
Man, I was in she's eight yearsold.
Speaker 1 (05:33):
I would have sold your house.
First grade, first grade, geezyeah.
Speaker 2 (05:37):
All right, he would have sold your house for sure.
Speaker 1 (05:39):
Absolutely.
I would have visited him injail then, like a cake yeah
that's right.
I'd be like, hey, you want tobuy a house?
Speaker 2 (05:48):
Yeah, no problem, eight-year-old kid, yeah, kid.
Speaker 1 (05:51):
That's incredible.
Those are some pretty awesomenumbers.
Speaker 2 (05:54):
The good news with the stock market is, I guess
it's steady enough, right, sothat's the good thing for them,
but ours, I mean, that'sunprecedented.
Where are you going to get 300%out of something?
Speaker 1 (06:05):
But it also shows you that stocks are stocks, the,
the, the wall street isdefinitely more.
You got to stay in it becausethere was times we talk about,
like real estate, like 2008through 2010 was really bad,
yeah.
Okay, people lost their houses,whatever, right, right, but the
stock market if the fact thatit's only 40% in that long
(06:25):
period of time, there wasdefinitely times where the
people lost some serious cash.
Speaker 2 (06:29):
Yeah, because they sold when it was down or
whatever.
Speaker 1 (06:31):
Exactly, yeah, yeah, and that's the thing.
Speaker 2 (06:33):
And that happened to real estate in 2009, 2010.
Speaker 1 (06:36):
A lot of people that I know.
Big investors that had a lot ofcash, bought a lot of
properties in 2008, 9, and 10.
Right, If you had the cash, youcould do it.
If you didn't, you weren'tgetting loans.
Speaker 2 (06:47):
Right, nobody was lending money, but if someone's
been in their home for over 26years, that's crazy.
Speaker 1 (06:53):
Yeah yeah, that's a lot of money, right?
Yeah yeah, it's a lot of money.
Speaker 2 (06:57):
I mean so people.
Speaker 1 (07:05):
I mean, if you, you made over 300% yeah, dude,
that's amazing.
Well, there's that whole sayingum, don't wait to buy real
estate, buy real estate and wait.
That's it.
Speaker 2 (07:09):
That's where the saying comes from and if you did
that, kudos to you, becausethat's what you did.
Speaker 1 (07:13):
Yeah, we should have pretty cool, right.
Speaker 2 (07:15):
Yeah, oh I know I wish I still owned every house.
I bought Absolutely.
Speaker 1 (07:18):
It's amazing, right, yep.
So what else you got?
Speaker 2 (07:21):
We talked about interest rates.
Right, they're coming down.
They were in the seven range,right.
So now they're down 6.7,whatever, and they're all over
the place.
Speaker 1 (07:32):
So if you're going to buy a property right now and
you're putting a house undercontract, don't mess around.
Just lock in, lock the rate,yep, because you're going to
find that that rate's going tokind of do this, it's going to
kind of do this, it's going todo that for this whole year.
Everything now is coming outsaying we're not going to be
going as low as we thought wewould go.
Right, exactly All thestatistics are looking a little
different now.
Speaker 2 (07:50):
Yep and I have some market swing stats here.
Since January, mortgageapplications are up 37%.
That's good.
Since January 1st.
Speaker 1 (07:58):
Yeah, and that's a precursor that tells you buyers
are getting approved.
Speaker 2 (08:02):
Yep, they're getting approved, which is good.
So if you're going to sell,there's more buyers coming in.
Yep Buyer demand index is up 3%since January 31st.
Speaker 1 (08:13):
Okay, that's a lot.
So that's again an indicator.
Speaker 2 (08:16):
Showing activity and showing time is up 13%, is it
Yep?
Since January 1.
Speaker 1 (08:21):
Wow, so there's more people looking that's
interesting, and which is whyinventory is not, is just it's
just hurting.
Yeah, it's staying flat, whichis which is going to well.
There's two things that canhappen, Like we talked about
before, If, if rates, there's a,there's a magic number that
just heard on another show,another podcast.
They said magic numbers like5.875 or something like that.
(08:51):
What?
As far as interest rate?
As far as interest rate wherethe sellers will decide, it's
worth it now to give up my threeand a half percent rate to go
and do what I want to do.
Okay, and and because the theloss spread between what they're
bringing to the next house asfar as cash and all the other
numbers, it it actually a 5.875or 5.7, it was like right in
that range.
Then they did all thecalculations.
They think that's the numberthat it would hit that sellers
(09:12):
will just start the pent-updemand, or I should say that,
yeah, the pent-up sellers thataren't selling because the
rate's being so high they'llmove Really Yep, and that's in
analyzing their increase inequity, I guess.
It's analyzing everything.
It's saying taking the cash outof their house, yeah, and the
other thing you got to look attoo the people that don't have
much of a mortgage and don'thave and have low interest rate.
(09:36):
They're missing out on some taxsavings.
Speaker 2 (09:39):
Oh yeah.
Speaker 1 (09:40):
If you're paying three and a half percent and you
only owe 40,000 on your houseand you have a house that's
$500,000, you're not.
You're not it's, yeah, it'smostly all principal so you're.
you're leaving money on thetable with the IRS, so the IRS
is taking it.
So would you rather have itthat the money goes towards what
you live in or do you want itto go to the IRS?
Towards what you live in or doyou want it to go to the IRS?
So those were those numbersthere start to really start to
(10:01):
take effect.
Speaker 2 (10:02):
Yeah, there's a lot of people in that boat, I have a
feeling.
Oh my gosh, yes, absolutely.
Speaker 1 (10:05):
Yeah, yeah, exactly, so it just it's interesting what
I saw.
Speaker 2 (10:09):
Who did that study?
Speaker 1 (10:10):
I don't, it was actually a podcast.
I was listening to and the guywas on like numbers and things
like that and it was aprediction.
But he said, when they did allthe numbers and they're looking
at interest rates, it was likeit's a little under six is where
they see the sellers will go,Yup, and they might've done
surveys too.
I mean, you could do a surveyof anybody that owns their home
at three and a half percentinterest rate and say, hey, you
(10:31):
know, would you move?
What's the number that wouldmake it that you would put your
house on the market?
Right, Because there's, youknow, in those situations
there's a need.
It's not a want to move,there's a need that they're
putting off and a lot of timesit's no steps, warmer weather,
you know all those things, andthey're not.
They're putting it off, hopingto make a better move when the
(10:54):
rates come down.
Speaker 2 (10:55):
Right yeah that that increase in price yeah but and
and plus the increase of theequity of the current home, the,
and a new loan at 5.875 versusat three and a half plus the tax
savings payments yeah, plus thetax savings yeah, the payments
like payments about the same,maybe it you know and also
there's nothing wrong withpaying a little more if it's
(11:16):
what you really, really want orneed or want.
Yeah, you know what I mean.
Right, it's true.
Speaker 1 (11:20):
So I mean, we talk about that all the time.
You know, is this home worth itfor you if you spend another
$200 a month?
Speaker 2 (11:25):
Of course, it is Of course, yeah, yeah.
Speaker 1 (11:27):
Who's going to walk away from the house that they
really want for $200 more amonth Exactly.
That's not going to happen werereally interesting, and this is
a number that we went.
This is from the KellerWilliams convention I was at in
Vegas and I wanted to share thiswith you, which was really
interesting.
I talked about this at theoffice meeting.
(11:47):
This was the lowest that hasbeen around since 2000,.
First-time home buyers 24% ofthe buyers are first-time buyers
.
Speaker 2 (11:59):
Only 24%.
Speaker 1 (12:01):
The the highest was in 2010,.
50% of the buyers were were, uh, first-time buyers.
Wow, so this is the lowestpercentage since the year 2000.
So in 24 years, the lowestamount of first-time homebuyers
are in the market right now.
Speaker 2 (12:19):
Wow.
Speaker 1 (12:19):
Yeah, that is interesting.
And it's also the highest ageof first-time buyers.
The average is 38.
Really, is that stillmillennial?
38.
Is that still millennial?
I don't know if it is stillmillennial.
I'm not so good with those.
Speaker 2 (12:33):
I don't know when they started?
Yeah, I never know either.
Because, yeah, I never knoweither.
Because when you see that, likeKCM and some of those, they use
the generations- yeah, yeah,yeah sure.
Like millennials, like it's thesecond biggest bubble versus
like the baby boomers Right.
So is that?
Oh, it's the one after Gen Z,gen Z that might be a Gen Z-er.
Speaker 1 (12:55):
Gen X I think I'm Gen X, actually Whatever's right
after the baby, for this is thecost, because you know you're
buying your first home.
You know it's very it's hard tobuy your first home today
Because what's happening isthey're getting beat out by the
cash buyers.
They're getting beat out by thesecond time buyers that have a
lot of cash and putting a lot ofmoney down and interest rates
(13:17):
are high.
So it's really hard for them.
So, 38 years old as the averagefirst-time buyer, that's
amazing.
Speaker 2 (13:24):
It's old.
Speaker 1 (13:25):
I mean it shouldn't say old, but it's old I mean
most of the time it was earlytwenties, mid twenties, maybe
late twenties.
Speaker 2 (13:31):
Yeah, they're missing out on so much more.
Speaker 1 (13:33):
Well, that's the thing is they're building wealth
at a much later date in life.
Now, they're living longer too,most likely, right, right,
that's true.
Speaker 2 (13:42):
You said 24%.
24%, get this.
I thought you had the same statI had, but I looked it up.
I know it wasn't.
24% of buyers are looking forADUs accessory dwelling units.
No way, that's funny.
Is that the?
Speaker 1 (13:58):
same 24% they want mom and dad to put an ADU in the
backyard.
Maybe that's why they're safe.
That's funny.
Speaker 2 (14:07):
But it's the same number.
Speaker 1 (14:08):
Yeah, it is the same number.
That's wild, makes you wonder.
So I thought that was a coolstat, that's a great stat?
Yeah, it's a good one.
So what else you got?
Speaker 2 (14:18):
I keep getting this institutional buyer thing.
Speaker 1 (14:21):
Oh man, I just heard it again.
Did you see that again?
Just heard it again.
Speaker 2 (14:25):
Okay, folks, put your fears to rest.
I just heard it again it's 0.0.
I always think of it as 0.0.
Speaker 1 (14:34):
0.0.
No, it's a very low percentage.
It's 0.3.
Speaker 2 (14:42):
0.0.
No, it's a very low percentage0.3.
0.3.
Yeah, 0.3% of all the buyers inthe world are institutional
buyers.
Guys, I just heard, you know, Iheard a politician just talk
about that again.
Speaker 1 (14:47):
Again, it said that and unless, unless it's here's
the only thing I can think ismaybe it's happening in New York
city, Maybe it's happening inthe big cities that were black
rock or whatever.
Those are buying up theproperties.
But then I keep going back tothis they're not buying him and
keeping him vacant, they'reputting people in it's still
housing.
Speaker 2 (15:06):
But, brad, 0.3% is almost zero.
Yeah, I mean the mom and popsare 18.
Speaker 1 (15:13):
Yeah, yeah 18% on just the investor side yeah.
Speaker 2 (15:17):
I don't get it Right.
Percent yeah, on just theinvestor side.
Yeah, I don't get it right.
I just it doesn't make sense,it's so trumped up.
Speaker 1 (15:23):
Oh, I shouldn't say that it's so, it's so perked up.
We.
We are sorry for what was justsaid we didn't say that.
Speaker 2 (15:28):
You know the word trump doesn't mean president
trump, it means other things,but it's beefed up to be this
big problem.
Yeah, it's not.
In fact, I don't even know ifthere's one or two in Berks
County that I know of.
Speaker 1 (15:40):
I've never heard of it, really Never heard of it, I
know.
Speaker 2 (15:42):
Carpenter used to buy them and Dana used to buy them,
but who's out of business now?
I don't know yeah.
Speaker 1 (15:48):
I know it doesn't make sense to me.
Speaker 2 (15:52):
So that's just not even there.
Speaker 1 (15:53):
It's not even there.
Yep, yep to buy a home thisyear.
15% when they did the poll.
Speaker 2 (15:58):
I saw that 15%.
Speaker 1 (16:00):
50% said that they were looking to buy a home this
year.
15%, yeah, yeah, which is good.
Speaker 2 (16:05):
Yeah, it's really good.
Speaker 1 (16:06):
I mean it was 11% last year, 10% in 23.
It's the highest since 2020.
Yep, which is actually amazing.
But just because they want todoesn't mean they're going to be
able to find it 15% want to buy.
The other 50% or 60% are pissedoff that they haven't found
anything yet.
So there goes that one.
(16:27):
We'll just get rid of that.
Speaker 2 (16:28):
But what else do you have?
Well, the last thing I have asfar as numbers go is you know,
people are coming back to worknow.
Speaker 1 (16:34):
Yeah, oh, this is a good one.
I know exactly what you'retalking about.
I love it, dude.
Go ahead and talk about it.
Speaker 2 (16:42):
And they asked I think this is a KCM.
They asked how many people haveto move because they're being
called back to work.
Speaker 1 (16:48):
Yeah, yeah, yeah 11%.
Speaker 2 (16:49):
Said definitely yes.
Speaker 1 (16:50):
Yeah, I know.
Speaker 2 (16:51):
And then 15% said probably yes, yep, and then
there was a no, but the commuteis pretty long.
At 25% and then 49%.
Now I'm good, I'm close to workanyway, close to work anyway.
But, dude, that's almost 50% ofpeople who are calling back to
work.
That probably have, because ifthey didn't mandate you come
into the office, shoot, I don'tknow about you, I'm going to the
(17:12):
Virgin Islands or somethingstupid of that?
Yeah, Because they they andthey might've.
Here's the thing.
Speaker 1 (17:21):
They might've already moved Right, because they could
work from home to where theyreally wanted to live, and now
they got to move back.
No, got to go.
Could you imagine that?
Yeah, yeah, hugo, you're notworking remotely, just so you
know.
Speaker 2 (17:45):
Okay, you know.
Okay, I just want to let youknow that I'm pretty sure
newcastle and and myself werelike no, you're not working
remotely.
That's right.
But I have a friend clientwho's been in florida for 15 16
years now and she's completelyhurricaned out.
Oh yeah, I've heard a couplepeople.
Speaker 1 (17:52):
She's moving back home yeah, well, they got hit a
lot, so there's some of that.
Speaker 2 (17:56):
I mean some of that going on too, but yeah, I
thought that was interestingwhen people come back to work.
They got to move back.
Yeah, it's crazy.
Speaker 1 (18:01):
They got to move back .
Speaker 2 (18:02):
Well and, but what are you going to do?
Or if you don't, want a job.
Speaker 1 (18:05):
That's different.
You know what's interesting too.
You just told me in Florida Iwas thinking about insurance and
everything else with Florida.
That's the other thing.
I don't know if this was onKeeping Current Matters or if it
was down in Keller Williams atthe convention, pennsylvania.
We're in a good spot.
We have the least increase ininsurance out of the country,
(18:28):
like our state and a coupleother ones are the least amount
of increase for insurance, forhomeowners insurance, it is yeah
.
And then you know where the badones were Like it was ours was
like a white, and then you know.
You know what the bad ones werelike it was ours was like a
white.
And then like the california,florida, new orleans those were
all like like dark blue, likeyeah, like, oh yeah like 50
increased like oh crazy, oh yeahcrazy.
(18:51):
So, as pennsylvanians, we're ina good spot here for that we are
.
We're not.
Speaker 2 (18:55):
We're not going up as much as everybody else, and
that market is micro, local too,like our real estate market
absolutely now, unless it's abig national company, okay, and
I have a couple insurance guys Iknow I stay close with and, uh,
I like to stay involved in thattoo, because it affects us sure
it does and no nationally, thebig nationals.
We pay for the fires incalifornia oh yeah of course,
(19:18):
and that what they do is theyunderwrite it out.
Speaker 1 (19:20):
They spread it out on yeah in underwriting ways.
Oh, it does spread out, butwe're not paying what they're
paying, but not the regionalcompanies.
Speaker 2 (19:27):
Oh okay, like Donegal and some of the other regional
companies, they're just here, ohwow.
I didn't realize that All theyhave to deal with is here.
Speaker 1 (19:34):
Right, so they're not hit by it.
Speaker 2 (19:36):
I think that's regional.
So anything that's regional,it's going to be okay yeah yeah,
it's not going to be as bad.
Speaker 1 (19:42):
Interesting.
Yeah, that's interesting, yeah,so the other thing that I saw,
a couple of things in here.
Let me just go through this.
Sitting on equity we talk aboutthis how many times this is
that American sitting on equity,68.3% have paid off their
mortgage.
Yeah, or yeah, or have at least50% in equity.
There's still so much equityout there so much equity.
(20:05):
What did that trillion dollarnumber we talked about?
Oh, it was like, yeah it was.
I forget what it was.
Trillions of dollars, it was alot.
Seven trillion or somethinglike that it was crazy yeah, how
much equity there is.
Do you remember that number?
Hugo's tired.
He's really bored you overthere.
By the way, you couldn't seethis, but Hugo did.
A huge yawn Makes us feelreally good about the show.
(20:25):
Hugo, do you have any questionsthat have nothing to do with
sleeping?
No, no.
Speaker 2 (20:31):
I'm just excited for spring market people coming up.
Speaker 1 (20:36):
It's getting busy, it is, it is picking up and I
think, once again, we had thefirst real winter in a long time
that's so you know we'redealing with seasonality, yep,
and low and low inventory, sothe it's a double whammy this
year, but I think hopefullywe're done with all the snow and
well, blue marsh lake wasfrozen over.
Yeah, for the first time, Ithink, in years, seven years
(20:56):
yeah, completely frozen a littlespot of ice here and there but
the whole thing was solid yeahyeah, I'm trying to think if
there's any things oh, this wasthe other thing, and we talked
about this before too which Ithink is a lot to do with also
the reason we don't haveinventory, which is people are
staying in their homes longer.
Ah, yes, they are, Remember weused to always say five to seven
years.
Five to seven, that's what itwas.
What is years?
(21:25):
Okay, the average was, then itwent to seven or something and
now it is 9.3 years.
Oh, really, yeah, from 2009 to2024 interesting, yeah, 9.3
years, that's a lot.
Speaker 2 (21:31):
That's a lot, it's a lot that's why the home
improvement industry boomed andpeople got that.
That's exactly right, becausethey're fixing instead of moving
, yep yeah, staycations yes,staycations, exactly right.
Speaker 1 (21:41):
Yep, all right, we have anything else or not?
I think we covered a lot.
Speaker 2 (21:44):
No, did you want to talk about BroGlo?
Yeah, we can talk about.
Speaker 1 (21:47):
BroGlo, absolutely.
Thanks for bringing this up.
You know what's funny?
They're not even sponsoring theshow.
I just love these guys, they'rejust really good guys.
But I've been using this on myface and it actually has made me
a little tanner.
I didn't use it today, but likethree or four, three days I
used it and it really works.
My wife's using it now.
She's not a bro, but she is aglow, but this is.
(22:09):
It's really good.
These guys weren't Shark Tank,they're local.
They're from the Exeter andBirdsboro area, and Mark Cuban
is the one that signed up tohelp them move this thing along.
Speaker 2 (22:19):
He never signs people .
No, he doesn't.
He's like the hardest.
Speaker 1 (22:22):
This is a good product, though, if you met
these guys and we have them onthe wall over here.
If you met these guys, hugo,you know they're fun, a lot of
fun.
Yeah, and uh, I just want to,you know, put a shout out to
them.
I'm going to keep it here for alittle bit, until the show airs
, because, uh, I think it's agreat product.
I just thought you were at thebeach again.
Yeah, what do you mean?
Speaker 2 (22:39):
again.
I don't know what you mean byagain.
Speaker 1 (22:44):
So, yeah, you have to try this stuff out.
Broglo Just go online, look upBroGlo.
It's the original BroGlo.
It is face tanner and they alsohave body tanner, all this
other stuff, cool, yeah, itworks really well If you're
looking to get rid of the whitepasty winter.
Look, that's the way to do it.
That's the way to do it.
There you go, right, hugo,that's right.
That's right.
That's right.
All right, thanks, pete, forcoming in.
We appreciate it, like always.
(23:04):
All right, there you have it.
Pete Heim is here.
Broglow is here.
We're here every Thursday at 7pm.
Check us out on Facebook,instagram, youtube wherever you
find your podcasts, we are there.
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