Howdy, real estate pros! Mike Mills is back with another episode of The Texas Real Estate and Finance Podcast. In this week's jam-packed episode, Mike Mills dives deep into the latest developments in the real estate and financial markets, offering his unique insights and witty commentary. From Black Friday sales numbers to the potential housing crash, banking issues, and realtor lawsuits, this episode is a must-listen for anyone in the industry.
Episode Highlights:
1. **Black Friday Sales and the Economy:** Mike breaks down the Black Friday sales numbers and explores whether the seemingly robust economy has hidden vulnerabilities.
2. **New Homes Sales Data:** Is the much-discussed housing crash finally upon us? Mike analyzes the latest New home sales data and its potential implications for future home prices.
3. **Banking Issues and Black Swan Events:** Get ready for a rollercoaster ride as Mike discusses underlying banking issues that could trigger unexpected economic downturns.
4. **Realtor Lawsuits:** Stay informed about the latest lawsuits hitting realtors and brokerages nationwide. Find out how these legal challenges might affect your paycheck and the industry as a whole.
5. **Productivity Hack for 2024:** Mike shares a valuable productivity hack to help you plan your business and navigate potential changes coming in 2024.
**Upcoming Highlights:**
1. **Homes.com Deep Dive:** In the next episode, Mike will provide an in-depth analysis of Homes.com, exploring what they have to offer and whether it's something worth considering for real estate professionals.
2. **Personal Finance Series:** Mike's embarking on a personal finance journey with his daughter, and he's inviting you along for the ride. Join them as they prepare for her college years, covering topics like bank accounts, investment strategies, and budgeting.
**Conclusion:**
Don't miss out on the latest insights and updates in the world of Texas real estate and finance. Subscribe, share, and leave a review to support the podcast and stay informed. Tune in next week for more exciting content and discussions. Keep your boots on the ground and your eyes on the market with The Texas Real Estate and Finance Podcast!
Timestamps:
Black Friday Numbers and the Economy (00:00:53) Discussion on the Black Friday shopping numbers and the potential impact on the economy, including the hidden storm cloud on the horizon.
New Home Sales Data and the Future of Home Prices (00:01:43) Analysis of the latest new home sales data and its implications for the housing market, including the possibility of a housing crash and the future of home prices.
Migration Patterns and Home Prices in Texas (00:04:23) Exploration of the migration patterns in Texas, particularly the influx of cash buyers from states like California and New York, and the impact on home prices in the state.
The decline in median home prices (00:06:09) Explanation of the decline in median home prices and the factors influencing it, such as the mix of homes being sold.
Quality of construction in new homes (00:07:58) Discussion on the decreasing quality of construction in new homes due to rising costs and regulations, and the importance of getting a home inspection.
Unemployment's impact on the housing market (00:08:52) Analysis of how unemployment affects the housing market, with a focus on the lower socio-economic scale and the likelihood of inventory flooding the market.
The borrowing rate for banks in the Fed Emergency Fund (00:12:24) Discussion on the difficulty of finding the borrowing rate for banks in the Fed Emergency Fund and the potential consequences of small regional banks tapping into this fund.
Outflows and deposits in small banks and the state of the economy (00:13:14) Explanation of how small banks are experiencing outflows and deposits, indicating potential economic weakness, and the impact on mortgage rates.
Real estate lawsuits against realtors and brokers (00:14:09) Overview of various real estate lawsuits filed against realtors, brokers, and MLS, including antitrust cases and accusations against Gary Keller of Keller Williams.
Preparing for Changes in Real Estate (00:18:38) Discussion on how lawsuits will impact realtors and brokers, and the need to adjust commission structures and buyer/seller relationships.
Planning for 2024 (00:19:40) Emphasizing the importance of preparing for changes in the real estate market by planning for the worst-case scenario and being ready for increased demand and expectations.
Productivity Hack: Planning Your Day (00:20:25) Advice on using a calendar to plan out your day, reduce stress, and create space for thoughts and ideas by organizing tasks and commitments.
Creating Your Ideal Week (00:24:00) Tips on how to schedule your time effectively and prioritize important activities, with a focus on using Google Calendar.
