April 14, 2025 • 32 mins
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Speaker 1 (00:04):
It's that time time, time, time, Luck and load.
Speaker 2 (00:11):
Michael Varry Show.
Speaker 3 (00:13):
Is on the air, and it really looks like ancient
Roman here.
Speaker 4 (00:28):
This is sort of the conquering Republican caesar who's going
into the Colisey and everyone's cheering, and he's got his
political gladiators with him. That appearance isn't just about him
enjoying the applause. He's sending a message to the Senate
for not only are you entertained, but these are my
people and are you willing to fight?
Speaker 3 (00:47):
Because here's who I have.
Speaker 5 (00:48):
I also want to say a big, big thank you
to President Donald Trump for being.
Speaker 2 (00:52):
Here to hide. Hey, what do you gotta think about my.
Speaker 6 (00:57):
Persion of the Donald Trump? Check it out that I'm proud.
Speaker 7 (01:14):
I'm proud to be a great American champion. I'm proud
to be a Christian American champion.
Speaker 1 (01:22):
With Amber.
Speaker 8 (01:39):
I think the whole point with these nominees, several of them,
is their unqualification. Is there affirmative disqualification? That's Trump's point
because what he wants to do with these nominees is
establish that the congressied States will not stand up him
with anything.
Speaker 9 (01:58):
President China retaliated to by reducing a number of American
films that can be shown there. What's your reaction to
them now targeting cultural espects from the United States.
Speaker 10 (02:08):
I think I've heard of worse things.
Speaker 11 (02:16):
And what then, what kind of power and influence you
think RFK Junior would have You.
Speaker 5 (02:35):
Know, Martha, I am outraged because lives are at stake here.
The head of Health and Human Services touches programs that
affect every single life in our country. I've been focusing
mainly on the public health impacts, you know. As you know,
I'm a pediatrician. I practiced pediatrics for more than thirty
(02:55):
years and there's nothing that I've done for my patients
that I know has more positive impact then getting them
vaccinated fully and on time. And to have someone leading
AHHS who is one of the biggest deniers of vaccines
in our country would undermine the confidence in that program,
and LIKELI, would cost lives.
Speaker 12 (03:17):
And that year nineteen eighty nine, we saw an explosion
in chronic disease and American children the neurological disease suddenly exploded.
Speaker 2 (03:26):
In nineteen add EIGHTYHD.
Speaker 12 (03:29):
Sleep disorders, language delays, asd autism, to red syndrome tics, narcolepsy.
These are all things that I never heard of. Autism
went from one in ten thousand of my generation, according
to the CDC data, to one in every thirty four
(03:49):
kinds today.
Speaker 2 (04:10):
I think there are some medical professionals.
Speaker 7 (04:15):
Who bear a great deal of shame and certainly a
great deal of blame for how they conducted themselves during COVID.
It's rather interesting how few of them have come forward
to apologize somehow. Some have admitted I made a mistake,
I blew it. In my life, I have, probably mostly
(04:40):
due to my mother's position on the matter, had a
great deal of respect for medical professionals, and I still do,
not just doctors, but nurses, physicians, assistants, people, technicians. There
are a lot of people who go in You know,
when you think about it, there are really only a
(05:01):
few things we do in the world, and most of
them involve the human body, whether it's bringing it into
this world, feeding it, maintaining it, healing.
Speaker 2 (05:15):
It, burying it.
Speaker 7 (05:17):
I mean, most of what we do relates to and
should relate to that, and I consider it a great
advancement in human history that we have so many people
who have been successful at treating the various ways which
(05:40):
the human body falls apart. But I truly believe that
in the last twenty five years you can go back further.
For some of these things. There are people who for
various reasons, usually purely profit, and I'm not against profit,
but I don't think you should be able to sell
your child no matter how much money you're paid. There
(06:03):
is a balance between a moral compass and a dollar,
and I guess that's different for everybody else. And many
people are jealous if someone else makes a dollar, so
they'll claim that person sold out simply because they got
paid a lot of money. But I think you know,
(06:24):
this is a complicated discussion. But when I came out
of law school, it was well. When I started law
school was ninety three and I clerked at a firm
I ended up going to called Jenkins A. Gilchrist and
Jenkins at Gilchrist was one of the two top firms
(06:46):
in Houston and one of the top in the country
in healthcare law, which was at that point very early
in its development, and it was a group of lawyers
that had come over from I forget the name of
the firm, but it was a healthcare law firm. And
(07:07):
what that firm did I didn't work solely in that group.
I did a few deals with that group, but that
wasn't that wasn't my area. I just worked alongside those folks.
And there were lawyers, Sue Murphy, I can't I can't
remember Sherry Daegel, I think was her name. There's a
street name for their family in Pasadena, prominent Jewish family
(07:31):
in Pasaden.
Speaker 2 (07:32):
I can't remember name. Anyway, these folks.
Speaker 13 (07:36):
Were.
Speaker 7 (07:37):
This was the early days of the HCA was coming
into prominence, and you had what were they called. It
was the groups that would come in. It's on the
tip of my tongue, the groups that would come in
and biomedical practices. So you were you were witnessing in
(07:58):
real time the trend transformation of the practice of law,
because the structure was changing and the finance element of
it was changing, and doctors were no longer in charge
of their practices, but now it was a business unit
run by accountants, and you could trace everything going downhill
from that moment.
Speaker 5 (08:19):
And what I see all over the place is people
who care about looking good while doing evil.
Speaker 2 (08:26):
The Michael Very Show.
Speaker 7 (08:31):
I don't give financial advice, and I don't intend to
start now, but I will tell you my opinion on
the matter, and you do without what you want. I
didn't ask me anything over the weekend, and one of
the questions was about home prices and will home prices
come down? And I don't believe home prices are going
(08:51):
to come down. I think we're going to witness home
prices skyrocketing. And the reason for that is the only
impediment to the home price to home price inflation presently
is mortgage rates.
Speaker 2 (09:07):
Mortgage rates have been prohibitively high.
Speaker 7 (09:10):
I locked in the mortgage rate on my home at
two and a quarter, and I love to see you
intuitively know that a lower interest rate is better than
a higher interest rate. But it's not until you actually
(09:31):
look at the numbers. That's why numbers people are different. Accountants, engineers.
Accountants look at things and they see a beauty in
what you and I see as dry numbers. They see
an orderliness and a structure and meaning, a deeper meaning,
(09:52):
whereas most of us have a loosey goosey notion that
we should save more and account for this and put
more over here. But it's not until you see the
power of compounding and the rule of seven. And it's
not until you see those numbers, Adam, and see how
the millionaire next door becomes the millionaire next door on
(10:13):
you know, a regular working salary. Because as a friend
of mine referred to his father as a pretty good
earner and a world class saver. So it's not until
you look at you take the amount of money that
you mortgaged on your home, whatever you didn't put in
the down payment, whatever, that number is one hundred, three hundred,
(10:36):
five hundred, the bigger it is, the bigger the number.
You take that, and you put say a three percent
interest rate on a thirty year note, and you look
at what your payment is, and how long you do that?
You drop that interest rate?
Speaker 2 (10:51):
Are you sorry?
Speaker 7 (10:51):
You raise that interest rate, run it for four, five, six, seven, eight,
get it above eight, and you start noticing. I think
people focus very much on the list price of a home.
So let's say the list price of a home is
five hundred thousand dollars, and that's the only thing they
(11:12):
think about. But what you pay for that home, if
you pay cash is five hundred. If you finance it
for a year at a low interest rate, is a
little more than five hundred. If you pay for it
over thirty years at ten percent, you're going to pay
far more for the money you borrowed than the home itself.
(11:36):
And I always try to tell people, and I'm not
sure how many people understand or get what I'm trying
to say. It's probably my own shortcoming and explaining it
that the home itself is still the same roof, same door,
same windows, located in the same place.
Speaker 2 (11:52):
But what you pay for it.
Speaker 7 (11:53):
The most important part of what you pay for your
home is not the sales price that you close on
and borrow against at the title company.
Speaker 2 (12:03):
That is important.
Speaker 7 (12:04):
You want that number to be as low as possible,
there's no doubt, but getting the right mortgage rate, locking
that mortgage rate in and how you finance that and
how you handle paying that off is going to be
far more important than what the purchase price itself was.
And it's all still the same exact home we're not
(12:26):
talking about. So if you look at what you're going
to spend over thirty years, let's say here, you're going
to spend a million and a half. If you paid cash,
it was five hundred. Now what is that homeworth? Is
it worth a million and a half, Is it worth
this amount? When you consider that high interest rates have
(12:48):
been throttling back the real estate market because the borrowing
costs for people. If I could afford a five hundred
thousand dollars home at two percent, but I can't afford
the payment at nine percent, then I can't buy the home.
If I can't buy the home on the average buyer, nobody.
Speaker 2 (13:11):
Can buy the home.
Speaker 7 (13:12):
So that means we drop down to four fifty. Still
can't buy the home at nine percent interest, So we
dropped down to four hundred. The longer that home sets
the change in expectation, so that person, in order to
sell their home is going to have I wanted that
home at five hundred, but I can't afford it, I'll
buy it at four. Well, if I don't know any
(13:33):
dead on that home, and I've been sitting on this
home on the market for fifteen months, I'm going to
start dropping the price. So you see, the price is
kept artificially lower than they would be now. I know,
if you're in the home buying market right now, you're thinking,
is this dude crazy because he's seen what the prices are.
I know, and that is a very complicated question. We'll
(13:56):
get to it in a minute. Why home prices are
higher now than I think they should be. But with
regard to my prediction, and it's just a prediction, interest
rates are slowly falling. They have been steadily falling. We
haven't talked a lot about it, but they had been
steadily falling, and I think that through the summer and
fall they will continue. President Trump is pushing very hard
(14:18):
for an interest rate cut. I would like to see
that interest rate cut come Q four or Q one
of twenty twenty six. And the reason is it is
going to spur an overnight boom. You're going to see
a lot of activity, a lot of excitement, and things
(14:40):
are great again. Trump fixed all the problems. That's how
people think. When that happens, it's going to have an
inflationary effect. But the inflationary effect on the public psyche
lags behind the overnight sensation of being able to buy
a new home. When those interest rates come down, let's
say they get under five. I don't know that we're
(15:05):
going to see two percent interest rates again, but when
the interest rates get down below five. They got below
four would be crazy, but let's just say they get
below five. All of a sudden, people can afford a
lot more home than they could have over the last
few years for new buyers and people that couldn't sell
their homes are going to put those homes back on
the market, and you're going to see a lot of
(15:26):
people borrowing money buying.
Speaker 2 (15:28):
But it's not just homes.
Speaker 7 (15:30):
Mac will tell you a lot of people come in
and buy a house full of furniture.
Speaker 2 (15:34):
I've been there, I've watched when.
Speaker 7 (15:37):
Someone has spent three hundred thousand dollars at gallery furniture
when you don't Not very many people spend three hundred
thousand dollars on furniture at a time. But there are
people that get relocated to Houston and they come in
and they're outfitting an entire home with beds and couches
and everything. It's cars, it's furniture, it's homes. Well, here's
(16:01):
the problem. When the interest rates come down, people can
borrow more, so they buy more. It drives the price up,
So home prices are going to go way up.
Speaker 2 (16:09):
In my opinion, Q four of this year, I was boded.
Speaker 7 (16:18):
I'm gonna hold me back because I'm about to say
something dramatic and I don't know if I can defend it.
After I said it, I'll stick to my favorite as
in rather than the greatest, because you can't argue somebody's favorite.
Speaker 2 (16:31):
That's their favorite no matter, there's no right or wrong
to them.
Speaker 7 (16:37):
The use of brass in this song is a top
five use of grass in music.
Speaker 2 (16:45):
For me of all time, maybe a top three.
Speaker 7 (16:48):
I don't want to go beyond that, because you know,
when Rick James says temptations blow, that's that's a moment.
You know, there's an Elvis arrangement with the phil Harmonic.
There's a few there's a few times that that a
it's almost always sacks, but there's a few times where
(17:10):
the brass comes in and it just changes everything. Uh.
Speaker 2 (17:15):
Several questions during the during the break on the home.
Speaker 7 (17:19):
Sell issue. I don't want to get too deep into
that because it's not what we do. It's something I'm
passionate about and I care deeply about, and I was
asked the question, so I gave the answer. But the
way that works is if interest rates continue to come down,
and they are they are dropping right now, very slowly,
too slow for my taste. If interest rates continue to
(17:42):
come down and we see rates under five percent, so
fours especially low fours. That's going to make borrowing cheaper.
When people have access to capital, they go get that
capital and they go get more of it, and that
that means when when you have more money available to you,
(18:03):
when you can get you know, people will go look
at homes and they'll fall in love with a home,
and I use the number five hundred. It's just an
easy round number. They fall in love with a house
and then they see if they're going to get approof
of the loan. If they can't get a proof of
that loan, it doesn't matter how much they like the
house because they can't buy it. Because people are financing
(18:28):
typically eighty percent or more of the purchase price, and
what you can afford to pay per month, people tend
to think of it ass backwards and they'll go, well,
we can spend you know, four hundred dollars a month
of a mortgage one thousand dollars a month of a mortgage,
and then they back in. That's the worst way to
(18:51):
do it. The biggest trick in the book is when
you walk into a car lot and they say, well,
what are you looking to spend not purchase price, what
are you looking to spend per month. Once they have
that number, they can they can push that that that
purchase price or lease out as far as you want
to go, as far as you want to go to
(19:13):
get that payment down.
Speaker 2 (19:15):
Is it good.
Speaker 7 (19:15):
Fundamentals of personal finance? No, it's horrible. It's terrible.
Speaker 2 (19:20):
Is it tempting? Yeah?
Speaker 7 (19:23):
Because who doesn't enjoy driving off a lot in a
new vehicle. Who doesn't enjoy getting the keys to a
home you never believed you could you could afford. It's
a wonderful feeling. So when those interest rates get lower,
it's going to heat up the home buyer's market and
as people put their home on the market because now
(19:44):
they can get more for it, because it's going to
drive prices up as competition increases, as money is more
available to everyone, Then you get into a bidding war.
You've been to an auction, You sat at somebody's table
at an auction that that that they bought because honoring their.
Speaker 2 (20:01):
CEO or whatever.
Speaker 7 (20:03):
You see that the money is raised from the competitive
spirit of two people wanting something and only having one
of them. And that's what happens with homes. Now you
start seeing home prices increase, and you start seeing the
trickle effect.
Speaker 2 (20:23):
It's a ripple actually.
Speaker 7 (20:24):
Because as one person sells that home, they either move
to a bigger home. Typically they'll move to a bigger home,
so that puts them in the market as so they're
both a seller and a new buyer. And you see
people leap frogging from home to home, Well, that fires
up all of those industries again. That fires up the
(20:45):
home mortgage industry, the title business, the home improvement because
people engage in home improvement more often than not because
they're getting ready to sell a house or they've just
bought a house.
Speaker 2 (20:57):
It's the damnedest thing to watch.
Speaker 7 (20:59):
People will spend money getting their home ready to show
we can all these improvements. People going, I love this,
and then they move in and then they do it
all over again. It's crazy, but it's so you got
so you have all that activity. Well, that activity means
that all the service providers are back to work, and
(21:22):
that is plumbers, foundation, electricians, all of that that had
slowed starts ramping back up. And I think you're going
to see that and you're going to see home prices increase.
So my suggestion what I would do if I were
in that situation. I'm not, but what I would do
if I was in that situation. If you know you're
going to buy by the end of the year, is
(21:44):
by now at the higher interest rate and refinance when
the rates drop. We have a new show sponsor coming
on shortly that is a supreme impressive story. It's a
husband wife team and they're a mortgage company and their business.
I'm tracking their business to see what the consumer response
(22:07):
is to these rates starting to drop, because there hasn't
been much written about it, so people don't know it.
And the mortgage companies went off the air. You remember
you used to hear a mortgage company add every commercial
break on our show, especially, you would there were multiple
the national guys and the local guys. Every break, you
would hear mortgage ads. You almost don't hear a mortgage
(22:30):
company add anymore because the market dried up. Nobody wants
to refinance. The only thing they're writing paper for is
new loans. Nobody wants to refinance when rates were eight
and nine percent. I mean, you'd had to be in
a really bad loan because you're only going to refinance
if you're getting a better rate. You'd had to be
in a really bad loan to need a refinance at
(22:51):
that rate. But when these rates get down below five,
you've got people who bought you, maybe one of them
who bought at aid. You run the numbers on what
that drops your payment down. It's a pretty amazing thing.
And again it's all a question of the cost of money.
Free money, which is almost essentially what we had for
(23:15):
quite some time, the likes of which we've never seen
interest rates so low that the money was almost free.
Speaker 2 (23:22):
When you're down in.
Speaker 7 (23:23):
The twos, it's it's amazing. Well, when you have that
much money available, Monetary policy fundamentals will tell you when
you have that much money available, you're gonna have that
much money spent. And when you have that much money spent,
you're going to drive prices up, and that's when you
get inflation. A couple that with the supply chain problems
coming out of China, and that's what we saw that
(23:46):
that was a big part.
Speaker 3 (23:48):
You want to.
Speaker 12 (23:50):
Just to say the word and I'll throw asshol around it.
Speaker 2 (23:52):
Pull down.
Speaker 13 (24:01):
I feeled in my nostrils, I feel in my throat.
Pollen is all around us.
Speaker 14 (24:16):
Everything yellow, It's carried by the window, it's everywhere I go.
It's not damage breaking, it's first in now mine.
Speaker 5 (24:42):
The bulldoz Or taps the tree and caught a pollen
purse from the branches. You can see the pond is
so thick that it actually replicates the tree.
Speaker 2 (24:51):
You know why hain't bolling?
Speaker 6 (24:53):
Not always will.
Speaker 15 (24:56):
My mind's made of the waiter for you, waters, my eyes,
stuff suck my nose. Yeah, all this fallen has got
to go.
Speaker 14 (25:15):
The trees are getting busies.
Speaker 2 (25:19):
The proofsive way.
Speaker 13 (25:26):
It's making me my eyes it cheese, and it is
in thing.
Speaker 6 (25:41):
You know, I hate pollen.
Speaker 2 (25:43):
I always wield.
Speaker 13 (25:46):
My mind's made up the waiter.
Speaker 15 (25:49):
I feel waters, my eyes, stuff suck my nose.
Speaker 6 (25:57):
Yet, all this fallen that's got you.
Speaker 2 (26:06):
It makes you want to cough and sneeze.
Speaker 7 (26:08):
We're just looking at it just gives you that kind
of like tingle or really bad Daniel. I'm like, there's
got a couple of boxes of tissues.
Speaker 6 (26:14):
Back there for me.
Speaker 2 (26:14):
It's bad.
Speaker 3 (26:15):
It's bad as the time of the year.
Speaker 7 (26:16):
A sylergy suffers no way, and it's going to stay bad.
Speaker 2 (26:18):
Everything blooming, blossoming, And this is the time of the
year too.
Speaker 7 (26:20):
You don't want to wash your Cards' just gonna get green.
Speaker 6 (26:22):
The next day.
Speaker 14 (26:31):
I'm tired of all the bookies.
Speaker 15 (26:35):
I'm tired of.
Speaker 1 (26:41):
I'm sick of all this fall. I'm tired of blowing
my noon. I'm tired of blowing moon.
Speaker 15 (26:59):
Sual this I'm outside of blowing.
Speaker 2 (27:16):
Mind to think of.
Speaker 7 (27:30):
How much of human existence is devoted to the reproductive process,
reproduction of the species, from the courting process to the marriage,
the birthing, the raising, And here we are interrupting the
(27:58):
plant life's reproduct dive cycle. They're getting it on. They're no,
they're not horny. Ramon, do you even know what that
word means? You let Loretta Lynn, it's not that you
remember that scene in The Coal Miners Daughter, when when
(28:21):
Loretta Lynn. I love the Loretta Lynn story. See if
you can find it. I love the Loretta Lynn story
because she really was a country pumpkin.
Speaker 2 (28:35):
And all of the purity and innocence that goes with that.
Speaker 7 (28:41):
She just exuded it, and she knew it, and she
didn't try to be that was her brand.
Speaker 2 (28:47):
She embraced it.
Speaker 7 (28:48):
She didn't try to be anything she wasn't. She was
so good in those fried chicken commercials. I wanted to
eat fried chicken so bad, so bad. And they had
her in shirts that were just they and long sleeve
button up shirts that were just a little too tight
to show up her show off her chest. And they
had her made up just right, not too much, not
too little. And she boys, she hammed up that butcher
(29:11):
holler uh uh accent like, oh, you got it all right?
So this was this was called dude gets to acting horny.
Speaker 9 (29:21):
Been driving so much a money? Know where I am after?
Oh it's fun though, you know. We were signing and
talk and do he detecting horney?
Speaker 2 (29:31):
And the more I laughed, the horn She had no
idea what she was saying. And I love that.
Speaker 7 (29:43):
I love everything about love everything about.
Speaker 2 (29:48):
We.
Speaker 7 (29:49):
We have been paying attention to local school board races
more than usual of late.
Speaker 2 (29:55):
When I say local, I mean the Houston area.
Speaker 7 (29:59):
And there is a candidate running for school board and
Katie the Liberals are trying to take back the school
board there and his name is James Cross. And sometimes,
ever so often, people will reveal what they really think.
Normally they hide it because they know that their views
are out of line. But occasionally they will slip up
(30:24):
and they will say to you something that is in
the inner recess that they keep hidden away that will
govern how that will guide how they govern. But they
would normally never say it. Well, this liberal made the
mistake and said it. That's the three oh one liberal,
Katie isd Sorry, I threw you off with the low
red lin got it.
Speaker 16 (30:47):
We want to have that balance where we have from
our parents and their children and how the best served them.
Whether they always have the answer. I don't know that
they because they don't always know the best way to
educate their children. That's why we have teachers and enfocusing.
Speaker 2 (31:07):
The world to help do that.
Speaker 14 (31:09):
To partner with those.
Speaker 2 (31:10):
Parents, say that one more time if you would or
play lord and.
Speaker 16 (31:16):
Just sort of cause if we're going to have that
balance where we have to have a put from our
parents on their children and how the best served them,
whether they always have the right answer, I don't know
that they do, because they don't always know the best
way to educate their children. That's why we have teachers
(31:37):
and focusing.
Speaker 2 (31:38):
The world to help do that.
Speaker 16 (31:39):
To partner with those parents.
Speaker 7 (31:43):
I will put the average homeschooled kid against the average
public school educated kid all day, every day, in any
academic competition, any measure that you want to make including socializing.
(32:04):
For years, the public school industry and it's an industry,
told us that you have to go to school because
otherwise you'll be freaky and creepy and you won't know
how to interact with people. You got to go to
school to learn. You got to be socialized. If nothing else,
you had to go to school so you can learn
to be around other people.
Speaker 2 (32:24):
Have you seen what the schools look like?
Speaker 9 (32:25):
Now?
Speaker 7 (32:27):
You got that case in Katie where you got a
football player pummeling that girl. You see people being stabbed, beaten, bullied,
knocked around, the teachers knocked around.
Speaker 2 (32:40):
No thanks,
It's that time time, time, time, Luck and load.
Speaker 2 (00:11):
Michael Varry Show.
Speaker 3 (00:13):
Is on the air, and it really looks like ancient
Roman here.
Speaker 4 (00:28):
This is sort of the conquering Republican caesar who's going
into the Colisey and everyone's cheering, and he's got his
political gladiators with him. That appearance isn't just about him
enjoying the applause. He's sending a message to the Senate
for not only are you entertained, but these are my
people and are you willing to fight?
Speaker 3 (00:47):
Because here's who I have.
Speaker 5 (00:48):
I also want to say a big, big thank you
to President Donald Trump for being.
Speaker 2 (00:52):
Here to hide. Hey, what do you gotta think about my.
Speaker 6 (00:57):
Persion of the Donald Trump? Check it out that I'm proud.
Speaker 7 (01:14):
I'm proud to be a great American champion. I'm proud
to be a Christian American champion.
Speaker 1 (01:22):
With Amber.
Speaker 8 (01:39):
I think the whole point with these nominees, several of them,
is their unqualification. Is there affirmative disqualification? That's Trump's point
because what he wants to do with these nominees is
establish that the congressied States will not stand up him
with anything.
Speaker 9 (01:58):
President China retaliated to by reducing a number of American
films that can be shown there. What's your reaction to
them now targeting cultural espects from the United States.
Speaker 10 (02:08):
I think I've heard of worse things.
Speaker 11 (02:16):
And what then, what kind of power and influence you
think RFK Junior would have You.
Speaker 5 (02:35):
Know, Martha, I am outraged because lives are at stake here.
The head of Health and Human Services touches programs that
affect every single life in our country. I've been focusing
mainly on the public health impacts, you know. As you know,
I'm a pediatrician. I practiced pediatrics for more than thirty
(02:55):
years and there's nothing that I've done for my patients
that I know has more positive impact then getting them
vaccinated fully and on time. And to have someone leading
AHHS who is one of the biggest deniers of vaccines
in our country would undermine the confidence in that program,
and LIKELI, would cost lives.
Speaker 12 (03:17):
And that year nineteen eighty nine, we saw an explosion
in chronic disease and American children the neurological disease suddenly exploded.
Speaker 2 (03:26):
In nineteen add EIGHTYHD.
Speaker 12 (03:29):
Sleep disorders, language delays, asd autism, to red syndrome tics, narcolepsy.
These are all things that I never heard of. Autism
went from one in ten thousand of my generation, according
to the CDC data, to one in every thirty four
(03:49):
kinds today.
Speaker 2 (04:10):
I think there are some medical professionals.
Speaker 7 (04:15):
Who bear a great deal of shame and certainly a
great deal of blame for how they conducted themselves during COVID.
It's rather interesting how few of them have come forward
to apologize somehow. Some have admitted I made a mistake,
I blew it. In my life, I have, probably mostly
(04:40):
due to my mother's position on the matter, had a
great deal of respect for medical professionals, and I still do,
not just doctors, but nurses, physicians, assistants, people, technicians. There
are a lot of people who go in You know,
when you think about it, there are really only a
(05:01):
few things we do in the world, and most of
them involve the human body, whether it's bringing it into
this world, feeding it, maintaining it, healing.
Speaker 2 (05:15):
It, burying it.
Speaker 7 (05:17):
I mean, most of what we do relates to and
should relate to that, and I consider it a great
advancement in human history that we have so many people
who have been successful at treating the various ways which
(05:40):
the human body falls apart. But I truly believe that
in the last twenty five years you can go back further.
For some of these things. There are people who for
various reasons, usually purely profit, and I'm not against profit,
but I don't think you should be able to sell
your child no matter how much money you're paid. There
(06:03):
is a balance between a moral compass and a dollar,
and I guess that's different for everybody else. And many
people are jealous if someone else makes a dollar, so
they'll claim that person sold out simply because they got
paid a lot of money. But I think you know,
(06:24):
this is a complicated discussion. But when I came out
of law school, it was well. When I started law
school was ninety three and I clerked at a firm
I ended up going to called Jenkins A. Gilchrist and
Jenkins at Gilchrist was one of the two top firms
(06:46):
in Houston and one of the top in the country
in healthcare law, which was at that point very early
in its development, and it was a group of lawyers
that had come over from I forget the name of
the firm, but it was a healthcare law firm. And
(07:07):
what that firm did I didn't work solely in that group.
I did a few deals with that group, but that
wasn't that wasn't my area. I just worked alongside those folks.
And there were lawyers, Sue Murphy, I can't I can't
remember Sherry Daegel, I think was her name. There's a
street name for their family in Pasadena, prominent Jewish family
(07:31):
in Pasaden.
Speaker 2 (07:32):
I can't remember name. Anyway, these folks.
Speaker 13 (07:36):
Were.
Speaker 7 (07:37):
This was the early days of the HCA was coming
into prominence, and you had what were they called. It
was the groups that would come in. It's on the
tip of my tongue, the groups that would come in
and biomedical practices. So you were you were witnessing in
(07:58):
real time the trend transformation of the practice of law,
because the structure was changing and the finance element of
it was changing, and doctors were no longer in charge
of their practices, but now it was a business unit
run by accountants, and you could trace everything going downhill
from that moment.
Speaker 5 (08:19):
And what I see all over the place is people
who care about looking good while doing evil.
Speaker 2 (08:26):
The Michael Very Show.
Speaker 7 (08:31):
I don't give financial advice, and I don't intend to
start now, but I will tell you my opinion on
the matter, and you do without what you want. I
didn't ask me anything over the weekend, and one of
the questions was about home prices and will home prices
come down? And I don't believe home prices are going
(08:51):
to come down. I think we're going to witness home
prices skyrocketing. And the reason for that is the only
impediment to the home price to home price inflation presently
is mortgage rates.
Speaker 2 (09:07):
Mortgage rates have been prohibitively high.
Speaker 7 (09:10):
I locked in the mortgage rate on my home at
two and a quarter, and I love to see you
intuitively know that a lower interest rate is better than
a higher interest rate. But it's not until you actually
(09:31):
look at the numbers. That's why numbers people are different. Accountants, engineers.
Accountants look at things and they see a beauty in
what you and I see as dry numbers. They see
an orderliness and a structure and meaning, a deeper meaning,
(09:52):
whereas most of us have a loosey goosey notion that
we should save more and account for this and put
more over here. But it's not until you see the
power of compounding and the rule of seven. And it's
not until you see those numbers, Adam, and see how
the millionaire next door becomes the millionaire next door on
(10:13):
you know, a regular working salary. Because as a friend
of mine referred to his father as a pretty good
earner and a world class saver. So it's not until
you look at you take the amount of money that
you mortgaged on your home, whatever you didn't put in
the down payment, whatever, that number is one hundred, three hundred,
(10:36):
five hundred, the bigger it is, the bigger the number.
You take that, and you put say a three percent
interest rate on a thirty year note, and you look
at what your payment is, and how long you do that?
You drop that interest rate?
Speaker 2 (10:51):
Are you sorry?
Speaker 7 (10:51):
You raise that interest rate, run it for four, five, six, seven, eight,
get it above eight, and you start noticing. I think
people focus very much on the list price of a home.
So let's say the list price of a home is
five hundred thousand dollars, and that's the only thing they
(11:12):
think about. But what you pay for that home, if
you pay cash is five hundred. If you finance it
for a year at a low interest rate, is a
little more than five hundred. If you pay for it
over thirty years at ten percent, you're going to pay
far more for the money you borrowed than the home itself.
(11:36):
And I always try to tell people, and I'm not
sure how many people understand or get what I'm trying
to say. It's probably my own shortcoming and explaining it
that the home itself is still the same roof, same door,
same windows, located in the same place.
Speaker 2 (11:52):
But what you pay for it.
Speaker 7 (11:53):
The most important part of what you pay for your
home is not the sales price that you close on
and borrow against at the title company.
Speaker 2 (12:03):
That is important.
Speaker 7 (12:04):
You want that number to be as low as possible,
there's no doubt, but getting the right mortgage rate, locking
that mortgage rate in and how you finance that and
how you handle paying that off is going to be
far more important than what the purchase price itself was.
And it's all still the same exact home we're not
(12:26):
talking about. So if you look at what you're going
to spend over thirty years, let's say here, you're going
to spend a million and a half. If you paid cash,
it was five hundred. Now what is that homeworth? Is
it worth a million and a half, Is it worth
this amount? When you consider that high interest rates have
(12:48):
been throttling back the real estate market because the borrowing
costs for people. If I could afford a five hundred
thousand dollars home at two percent, but I can't afford
the payment at nine percent, then I can't buy the home.
If I can't buy the home on the average buyer, nobody.
Speaker 2 (13:11):
Can buy the home.
Speaker 7 (13:12):
So that means we drop down to four fifty. Still
can't buy the home at nine percent interest, So we
dropped down to four hundred. The longer that home sets
the change in expectation, so that person, in order to
sell their home is going to have I wanted that
home at five hundred, but I can't afford it, I'll
buy it at four. Well, if I don't know any
(13:33):
dead on that home, and I've been sitting on this
home on the market for fifteen months, I'm going to
start dropping the price. So you see, the price is
kept artificially lower than they would be now. I know,
if you're in the home buying market right now, you're thinking,
is this dude crazy because he's seen what the prices are.
I know, and that is a very complicated question. We'll
(13:56):
get to it in a minute. Why home prices are
higher now than I think they should be. But with
regard to my prediction, and it's just a prediction, interest
rates are slowly falling. They have been steadily falling. We
haven't talked a lot about it, but they had been
steadily falling, and I think that through the summer and
fall they will continue. President Trump is pushing very hard
(14:18):
for an interest rate cut. I would like to see
that interest rate cut come Q four or Q one
of twenty twenty six. And the reason is it is
going to spur an overnight boom. You're going to see
a lot of activity, a lot of excitement, and things
(14:40):
are great again. Trump fixed all the problems. That's how
people think. When that happens, it's going to have an
inflationary effect. But the inflationary effect on the public psyche
lags behind the overnight sensation of being able to buy
a new home. When those interest rates come down, let's
say they get under five. I don't know that we're
(15:05):
going to see two percent interest rates again, but when
the interest rates get down below five. They got below
four would be crazy, but let's just say they get
below five. All of a sudden, people can afford a
lot more home than they could have over the last
few years for new buyers and people that couldn't sell
their homes are going to put those homes back on
the market, and you're going to see a lot of
(15:26):
people borrowing money buying.
Speaker 2 (15:28):
But it's not just homes.
Speaker 7 (15:30):
Mac will tell you a lot of people come in
and buy a house full of furniture.
Speaker 2 (15:34):
I've been there, I've watched when.
Speaker 7 (15:37):
Someone has spent three hundred thousand dollars at gallery furniture
when you don't Not very many people spend three hundred
thousand dollars on furniture at a time. But there are
people that get relocated to Houston and they come in
and they're outfitting an entire home with beds and couches
and everything. It's cars, it's furniture, it's homes. Well, here's
(16:01):
the problem. When the interest rates come down, people can
borrow more, so they buy more. It drives the price up,
So home prices are going to go way up.
Speaker 2 (16:09):
In my opinion, Q four of this year, I was boded.
Speaker 7 (16:18):
I'm gonna hold me back because I'm about to say
something dramatic and I don't know if I can defend it.
After I said it, I'll stick to my favorite as
in rather than the greatest, because you can't argue somebody's favorite.
Speaker 2 (16:31):
That's their favorite no matter, there's no right or wrong
to them.
Speaker 7 (16:37):
The use of brass in this song is a top
five use of grass in music.
Speaker 2 (16:45):
For me of all time, maybe a top three.
Speaker 7 (16:48):
I don't want to go beyond that, because you know,
when Rick James says temptations blow, that's that's a moment.
You know, there's an Elvis arrangement with the phil Harmonic.
There's a few there's a few times that that a
it's almost always sacks, but there's a few times where
(17:10):
the brass comes in and it just changes everything. Uh.
Speaker 2 (17:15):
Several questions during the during the break on the home.
Speaker 7 (17:19):
Sell issue. I don't want to get too deep into
that because it's not what we do. It's something I'm
passionate about and I care deeply about, and I was
asked the question, so I gave the answer. But the
way that works is if interest rates continue to come down,
and they are they are dropping right now, very slowly,
too slow for my taste. If interest rates continue to
(17:42):
come down and we see rates under five percent, so
fours especially low fours. That's going to make borrowing cheaper.
When people have access to capital, they go get that
capital and they go get more of it, and that
that means when when you have more money available to you,
(18:03):
when you can get you know, people will go look
at homes and they'll fall in love with a home,
and I use the number five hundred. It's just an
easy round number. They fall in love with a house
and then they see if they're going to get approof
of the loan. If they can't get a proof of
that loan, it doesn't matter how much they like the
house because they can't buy it. Because people are financing
(18:28):
typically eighty percent or more of the purchase price, and
what you can afford to pay per month, people tend
to think of it ass backwards and they'll go, well,
we can spend you know, four hundred dollars a month
of a mortgage one thousand dollars a month of a mortgage,
and then they back in. That's the worst way to
(18:51):
do it. The biggest trick in the book is when
you walk into a car lot and they say, well,
what are you looking to spend not purchase price, what
are you looking to spend per month. Once they have
that number, they can they can push that that that
purchase price or lease out as far as you want
to go, as far as you want to go to
(19:13):
get that payment down.
Speaker 2 (19:15):
Is it good.
Speaker 7 (19:15):
Fundamentals of personal finance? No, it's horrible. It's terrible.
Speaker 2 (19:20):
Is it tempting? Yeah?
Speaker 7 (19:23):
Because who doesn't enjoy driving off a lot in a
new vehicle. Who doesn't enjoy getting the keys to a
home you never believed you could you could afford. It's
a wonderful feeling. So when those interest rates get lower,
it's going to heat up the home buyer's market and
as people put their home on the market because now
(19:44):
they can get more for it, because it's going to
drive prices up as competition increases, as money is more
available to everyone, Then you get into a bidding war.
You've been to an auction, You sat at somebody's table
at an auction that that that they bought because honoring their.
Speaker 2 (20:01):
CEO or whatever.
Speaker 7 (20:03):
You see that the money is raised from the competitive
spirit of two people wanting something and only having one
of them. And that's what happens with homes. Now you
start seeing home prices increase, and you start seeing the
trickle effect.
Speaker 2 (20:23):
It's a ripple actually.
Speaker 7 (20:24):
Because as one person sells that home, they either move
to a bigger home. Typically they'll move to a bigger home,
so that puts them in the market as so they're
both a seller and a new buyer. And you see
people leap frogging from home to home, Well, that fires
up all of those industries again. That fires up the
(20:45):
home mortgage industry, the title business, the home improvement because
people engage in home improvement more often than not because
they're getting ready to sell a house or they've just
bought a house.
Speaker 2 (20:57):
It's the damnedest thing to watch.
Speaker 7 (20:59):
People will spend money getting their home ready to show
we can all these improvements. People going, I love this,
and then they move in and then they do it
all over again. It's crazy, but it's so you got
so you have all that activity. Well, that activity means
that all the service providers are back to work, and
(21:22):
that is plumbers, foundation, electricians, all of that that had
slowed starts ramping back up. And I think you're going
to see that and you're going to see home prices increase.
So my suggestion what I would do if I were
in that situation. I'm not, but what I would do
if I was in that situation. If you know you're
going to buy by the end of the year, is
(21:44):
by now at the higher interest rate and refinance when
the rates drop. We have a new show sponsor coming
on shortly that is a supreme impressive story. It's a
husband wife team and they're a mortgage company and their business.
I'm tracking their business to see what the consumer response
(22:07):
is to these rates starting to drop, because there hasn't
been much written about it, so people don't know it.
And the mortgage companies went off the air. You remember
you used to hear a mortgage company add every commercial
break on our show, especially, you would there were multiple
the national guys and the local guys. Every break, you
would hear mortgage ads. You almost don't hear a mortgage
(22:30):
company add anymore because the market dried up. Nobody wants
to refinance. The only thing they're writing paper for is
new loans. Nobody wants to refinance when rates were eight
and nine percent. I mean, you'd had to be in
a really bad loan because you're only going to refinance
if you're getting a better rate. You'd had to be
in a really bad loan to need a refinance at
(22:51):
that rate. But when these rates get down below five,
you've got people who bought you, maybe one of them
who bought at aid. You run the numbers on what
that drops your payment down. It's a pretty amazing thing.
And again it's all a question of the cost of money.
Free money, which is almost essentially what we had for
(23:15):
quite some time, the likes of which we've never seen
interest rates so low that the money was almost free.
Speaker 2 (23:22):
When you're down in.
Speaker 7 (23:23):
The twos, it's it's amazing. Well, when you have that
much money available, Monetary policy fundamentals will tell you when
you have that much money available, you're gonna have that
much money spent. And when you have that much money spent,
you're going to drive prices up, and that's when you
get inflation. A couple that with the supply chain problems
coming out of China, and that's what we saw that
(23:46):
that was a big part.
Speaker 3 (23:48):
You want to.
Speaker 12 (23:50):
Just to say the word and I'll throw asshol around it.
Speaker 2 (23:52):
Pull down.
Speaker 13 (24:01):
I feeled in my nostrils, I feel in my throat.
Pollen is all around us.
Speaker 14 (24:16):
Everything yellow, It's carried by the window, it's everywhere I go.
It's not damage breaking, it's first in now mine.
Speaker 5 (24:42):
The bulldoz Or taps the tree and caught a pollen
purse from the branches. You can see the pond is
so thick that it actually replicates the tree.
Speaker 2 (24:51):
You know why hain't bolling?
Speaker 6 (24:53):
Not always will.
Speaker 15 (24:56):
My mind's made of the waiter for you, waters, my eyes,
stuff suck my nose. Yeah, all this fallen has got
to go.
Speaker 14 (25:15):
The trees are getting busies.
Speaker 2 (25:19):
The proofsive way.
Speaker 13 (25:26):
It's making me my eyes it cheese, and it is
in thing.
Speaker 6 (25:41):
You know, I hate pollen.
Speaker 2 (25:43):
I always wield.
Speaker 13 (25:46):
My mind's made up the waiter.
Speaker 15 (25:49):
I feel waters, my eyes, stuff suck my nose.
Speaker 6 (25:57):
Yet, all this fallen that's got you.
Speaker 2 (26:06):
It makes you want to cough and sneeze.
Speaker 7 (26:08):
We're just looking at it just gives you that kind
of like tingle or really bad Daniel. I'm like, there's
got a couple of boxes of tissues.
Speaker 6 (26:14):
Back there for me.
Speaker 2 (26:14):
It's bad.
Speaker 3 (26:15):
It's bad as the time of the year.
Speaker 7 (26:16):
A sylergy suffers no way, and it's going to stay bad.
Speaker 2 (26:18):
Everything blooming, blossoming, And this is the time of the
year too.
Speaker 7 (26:20):
You don't want to wash your Cards' just gonna get green.
Speaker 6 (26:22):
The next day.
Speaker 14 (26:31):
I'm tired of all the bookies.
Speaker 15 (26:35):
I'm tired of.
Speaker 1 (26:41):
I'm sick of all this fall. I'm tired of blowing
my noon. I'm tired of blowing moon.
Speaker 15 (26:59):
Sual this I'm outside of blowing.
Speaker 2 (27:16):
Mind to think of.
Speaker 7 (27:30):
How much of human existence is devoted to the reproductive process,
reproduction of the species, from the courting process to the marriage,
the birthing, the raising, And here we are interrupting the
(27:58):
plant life's reproduct dive cycle. They're getting it on. They're no,
they're not horny. Ramon, do you even know what that
word means? You let Loretta Lynn, it's not that you
remember that scene in The Coal Miners Daughter, when when
(28:21):
Loretta Lynn. I love the Loretta Lynn story. See if
you can find it. I love the Loretta Lynn story
because she really was a country pumpkin.
Speaker 2 (28:35):
And all of the purity and innocence that goes with that.
Speaker 7 (28:41):
She just exuded it, and she knew it, and she
didn't try to be that was her brand.
Speaker 2 (28:47):
She embraced it.
Speaker 7 (28:48):
She didn't try to be anything she wasn't. She was
so good in those fried chicken commercials. I wanted to
eat fried chicken so bad, so bad. And they had
her in shirts that were just they and long sleeve
button up shirts that were just a little too tight
to show up her show off her chest. And they
had her made up just right, not too much, not
too little. And she boys, she hammed up that butcher
(29:11):
holler uh uh accent like, oh, you got it all right?
So this was this was called dude gets to acting horny.
Speaker 9 (29:21):
Been driving so much a money? Know where I am after?
Oh it's fun though, you know. We were signing and
talk and do he detecting horney?
Speaker 2 (29:31):
And the more I laughed, the horn She had no
idea what she was saying. And I love that.
Speaker 7 (29:43):
I love everything about love everything about.
Speaker 2 (29:48):
We.
Speaker 7 (29:49):
We have been paying attention to local school board races
more than usual of late.
Speaker 2 (29:55):
When I say local, I mean the Houston area.
Speaker 7 (29:59):
And there is a candidate running for school board and
Katie the Liberals are trying to take back the school
board there and his name is James Cross. And sometimes,
ever so often, people will reveal what they really think.
Normally they hide it because they know that their views
are out of line. But occasionally they will slip up
(30:24):
and they will say to you something that is in
the inner recess that they keep hidden away that will
govern how that will guide how they govern. But they
would normally never say it. Well, this liberal made the
mistake and said it. That's the three oh one liberal,
Katie isd Sorry, I threw you off with the low
red lin got it.
Speaker 16 (30:47):
We want to have that balance where we have from
our parents and their children and how the best served them.
Whether they always have the answer. I don't know that
they because they don't always know the best way to
educate their children. That's why we have teachers and enfocusing.
Speaker 2 (31:07):
The world to help do that.
Speaker 14 (31:09):
To partner with those.
Speaker 2 (31:10):
Parents, say that one more time if you would or
play lord and.
Speaker 16 (31:16):
Just sort of cause if we're going to have that
balance where we have to have a put from our
parents on their children and how the best served them,
whether they always have the right answer, I don't know
that they do, because they don't always know the best
way to educate their children. That's why we have teachers
(31:37):
and focusing.
Speaker 2 (31:38):
The world to help do that.
Speaker 16 (31:39):
To partner with those parents.
Speaker 7 (31:43):
I will put the average homeschooled kid against the average
public school educated kid all day, every day, in any
academic competition, any measure that you want to make including socializing.
(32:04):
For years, the public school industry and it's an industry,
told us that you have to go to school because
otherwise you'll be freaky and creepy and you won't know
how to interact with people. You got to go to
school to learn. You got to be socialized. If nothing else,
you had to go to school so you can learn
to be around other people.
Speaker 2 (32:24):
Have you seen what the schools look like?
Speaker 9 (32:25):
Now?
Speaker 7 (32:27):
You got that case in Katie where you got a
football player pummeling that girl. You see people being stabbed, beaten, bullied,
knocked around, the teachers knocked around.
Speaker 2 (32:40):
No thanks,
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On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!