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The Clark Howard Podcast

11.5.19 Stay in your home longer; Krispy Kreme stops college-age entrepreneur; Ford to update vehicles over internet

The Clark Howard Podcast

Clark Howard

Entrepreneurship, Business, Investing

4.65.2K Ratings

🗓️ 5 November 2019

⏱️ 36 minutes

🧾️ Download transcript

Summary

Clark recommends a minimum ownership cycle of 7 years for houses and 10 years for condos. There’s enormous expense involved in both buying and selling a home – 10% in and 10% out. In addition to expenses in and out, condo values are more unstable than home values. So owning for a decade is best for your wallet. Historically, 7 years has been the typical amount of time people stay in a home. But according to Redfin, the ownership cycle now averages 13 years. People are choosing to stay longer and there are less job transfers. The untold story: The longer you stay in a home, the more profitable that home becomes because you’re not paying in and out costs. If your neighborhood is in decline, that’s a good reason to move. But as people stay longer and improve their homes, neighborhoods generally become more stable. Minnesota college student Jason Gonzales defrayed school costs by driving 2+ hours to the closest Krispy Kreme in Iowa, buying in bulk and bringing them back to Minnesota to resell. It’s not a crime to bootleg donuts. He received no bulk discount, and sold by the dozen in the original boxes. Jason made a markup importing and selling the donuts, not available in Minnesota. After a story was published about this young entrepreneur, Jason got shut down by Krispy Kreme because he was “creating a liability” for them. What about all the charities that buy in bulk and sell by the box? Better to appreciate Jason for keeping the love for Krispy Kreme alive in a place that doesn’t have them! For the last 7 years, Clark has had the privilege of driving a Tesla. The model 3 is one of the best selling vehicles in the U.S. now. The car is like a rolling computer. Tesla is always connected to the internet through cellular and home Wi-Fi, and sends regular software updates. You simply download updates as they come. Via these updates, Clark has seen the self-driving capabilities steadily improve to now extraordinary performance levels. This has been the envy of the automobile industry. Ford is now adopting this update capability starting in 2020. The vehicle that comes off the assembly line will evolve with updates. This is a game changer all automakers will likely adopt. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Tampa Bay

0:02.0

Where you feel the warmth of the sand under your feet by day

0:06.2

And the beat of downtown by night

0:09.2

Make it a holiday of a lifetime on Florida's golf coast

0:13.5

With beaches that stretch for miles a vibrant waterfront scene and

0:18.4

Incredible theme parks just a top-down drive away

0:21.7

Book now for 2024 with Virgin Atlantic holidays at your local store on the phone or at Virgin Holidays dot code at UK

0:30.0

My pleasure to welcome you here at the Clark Howard show where it's about you learning ways to keep more of what you make

0:43.1

coming up later

0:44.9

Wow

0:46.6

Sometimes companies just don't think

0:50.4

Wait till you hear today's car-grages moment

0:53.8

making it difficult for a student to get through school and

0:58.6

Coming up yet later

1:01.3

Your car getting updates just like your cell phone

1:06.1

It's absolutely what's happening and is going to spread through the automotive industry

1:12.4

I'm going to fill you in how it's going to

1:15.6

Change what driving is like for you

1:20.0

so

1:22.3

Do you know that when I've taken questions from people about buying a home?

1:27.2

I've talked over the years

1:29.9

about why when you buy a home

...

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