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A housing market crash is coming is Austin in twenty twenty two twenty the two thousand and eight version of Las Vegas.
Listen. Kudos to Dom and p who sent me this dated last night. If you look at where the housing market is in Austin, Texas, and the comparison of where Las Vegas was in two thousand and eight and housing crash was coming. Applications are slowing down, interest rates are going high, Pierre told me last night. Even on investment properties, the information and the amount of capital that you have
to put down is not being changed. If any investor that lived in two thousand and eight, they will tell you when the guidelines began to change, that was because the market was getting ready to topple. So now if you go from having to put down fifteen to twenty percent or twenty to twenty five, there is a major adjustment about to happen. So for everyone who bought that bad prices in the top of the market, I am sorry. I begged you to wait and to be patient. Look
at the comps in the area. But if a residential neighborhood has one up three x or four x in a year and a half and it has to come down, And since we're not in a recession and the fail to stop doing quantitative easy, this is the next market that is going to topple over. I know everyone going to say I'm not right. Same thing happened in October when it came to this market, the stock market, and here we are. The housing market is next. Please be careful, I'm begging you.
Yeah, I mean interesting because when we talk about cities that tech hubs, everybody always brings up Austin, And we actually had a chance to be out there for south By Southwest, and it looks like it's a flourishing text. It's booming, it's booming, it's becoming one. But then I did some research on it. I looked at I think Business Insider had this article was like the top fifteen cities where home appreciation has outpaced wages. Number one city Austin, Texas.
Absolutely for those who don't know, the people are not making enough to keep up with what the houses cost because everyone from California and Washington began to move there. So I remember when Tim Ferris and Noah Kagan from Okay Doric moved in like two thousand and eight, and then Facebook slowly came in. Now we're in a bubble. You have to find what the next Austin is going to be. So and I've been telling everyone for five
years they moved to Texas way cheaper. But when a population or city becomes overinflated and you having people that are put down seven hundred thousand cash and the house is worth five point fifty. That is the same thing that happened in two thousand and eight. I truly believe like banks, and we may not know this truly for two years, I think banks intentionally imploded the crypto market to get the same results and reaction from two thousand and eight. For those who missed out, wh who studied
that market. Freeman is doing a great job at being Buffett at FTX for the crypto space. But there's a bunch of people in investment banking who are like, damn, I missed out on all eight. If we can infiltrate the crypto market with all this fanfare, I mean we saw it when Zillow and red fan was like buying people houses twenty thirty percent of a value and then try to sell them back two months later. That's a crash in the self. It's over with.
Yeah, uh yeah, well so we would be What would be your advice for people as far as the real estate, Just be careful, just make sure you're getting good value.
You want an answer, a Smoothi King answer.
Smoothie King, Let's go, smoothes go full.
Stop buying everything as stupid prices. Write this down your number one job and everything you invest in. You don't have to like me or believe me, just to stop buying shit at dumb princes. You can do a fibinizity retracement over any market, water only, fan subscriptions oranges, right the price of tickets to fly to invest us with them. Everything has a high. You should buy, not from the high. I screamed that all last year. Mike, clip it up, Nikki clipped it up.
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Have to buy at the best prices. The way people finesse you is to create fanfare and then use you as liquidity to drive the price up so that they can exit. Once again. China did not announce on Twitter, I'm going to buy this farm land and now we can come in together with the dow to buy it together. They're required about that. Why Bill Gates has never announced coming to my fund and you can buy all this land with me. Now, wait till you find out those
who are buying things in tandem. Stop buying at bad priceis it's only for the benefit of someone else. And if I've made you money, please put us in shut please.
Did I did I say that clock analogy last week? Yeah?
Yeah? Did you right now? It said again?
Yeah? So don Peebles legend legendary billionaire developer. When we spoke to him, he said that his philosophy with real estate because I asked him, I'm like, how do you feel about the real estate market? Is it too hot? He's like, his philosophy a real state and just investing in general. It's like a clock and he was like, he was like, right now, it's at like the clock is at twelve o'clock. And he said, you don't you don't buy when it's at twelve o'clock. Like the hands
is like it's like pointing out like this. He said. His philosophy is to wait till it gets to like three o'clock. I think like from three he was like, at three o'clock, that's when you should start being interested. At four o'clock, he said, from four to eight o'clock is when he's buying. From four to eight o'clock is when he's buying, and then from eight o'clock to twelve o'clock is like when he's selling. And then and then from twelve o'clock to four o'clock is when he's researching.
That's what it was. From from twelve o'clock to four o'clock is research. Four o'clock to eight o'clock is buying. Eight o'clock to twelve o'clock is selling. You don't want to be there by low sell high. And he said, right now, it's at twelve o'clock. Right now, that's what he said. I don't know. He's a billionaire.
A lot of investment in business comes down to will you listen to the people that are trying to help you and take your emotions out of it. Hope is not a strategy. Hope is not a strategy. So when everyone, especially in our community, when the entire hood is talking
about crypto stocks, real estate, bro its too late. Okay, let's take me and let's say y'all going to press round and I do shows back to back right on fire and I'm doing trap numbers, a million out the gate first week, Trapped and keys and broke the cold one Hunter, get clicks like crazy. Right then I go to let's say iHeart and say, hey, let's bundle this up. What eyl on, Let's do a deal. Who does the
benefits mean? So on crypto, when they had all this fan fare going and the amc apes and all that, right, that was to build fanfare to then sell off. You notice almost everybody who was running these funds and crypto are now looking to go work at the bank where they partner with the bank, or they sold out in some form or fashion. If you do not know who is being finessed in the deal, that is usually you.
Even in my finesse, My thing is I want to help you so much that if I go run for president one day, you're like, man, he crazy with that Smoothie, can't get him jackets boy. But Ian was all right with me. Let me go ahead and vote for him. I want to help you first in advance. So if you do not know who is the beneficiary in a deal or transaction, or you being a part of a fan club, it is the person who runs it and not you. Invest in ask considerable risk. Please consult your
advisor and listen to what I tell you. I'm begging.
I love y'all, and please please be mindful.
Extremely important my graduates from my school being forced bad.
Drop drop, Mike, drop drop.
You just realized your business needed to hire someone yesterday. How can you find amazing candidates fast? Easy? Just use indeed, stop struggling to get your job. Posts seen on other job sites. With Indeed sponsored jobs, your post jumps to the top of the page for your relevant candidates, so you can reach the people you want faster. According to data, sponsored jobs posted directly on Indeed have forty five percent more applications than non sponsored jobs. Don't wait any longer.
Speed up your hiring right now with Indeed, and listeners of this show will get a seventy five dollars sponsored job credit to get your jobs more visibility at indeed dot com slash po d Katz thirteen. Just go to indeed dot com slash pod katz thirteen right now and support our show by saying you heard about Indeed on this podcast. Terms and conditions apply. Hiring Indeed is all you need