Hey everyone, it's Brandon Turner. So today's show is a little different than normal. See, I was a

guest. This was a really fun interview and I thought after I was done, I was like, dang, I think a lot more

people should hear that. So we thought, why don't we put it out on the Better Life podcast? So that is what today's show is. I hope you enjoy this. I hope you learn a lot. I hope you grows as an investor, build bigger wealth so you can give more money away and have a better life and enjoy

Brandon Turner thank you so much for coming on the ice coffee hour. We really appreciate it. Thank you so much for letting us stay here in Maui. Really excited to talk to you on this one because you are the real estate guy. Thanks, man. No, thanks for coming out. It's always a pleasure. I mean, the last time we were in your neck of the woods the woods and I guess now we get to hang out in Maui and we had to play with some whales yesterday. That was a good time. Now, I'm curious, I'm sure everyone is wondering, is now a good time to buy a house? Now is a, now it's always a good time to buy a house when you have a long enough perspective, right? It's always a good time to buy a house when you have a perspective that says, hey, 10 years from now, I mean, in American history, there's never been a period of time where real estate's been lower 10 years in the future than it is today. Does that make sense? It's always in every 10 year period of America, you can look back and say real estate is better than it was 10 years ago. And I don't see that changing. In fact, I see that getting even more pronounced over the next few years. How was it changed

since 2020 though? The entire market is flipped. Everything is different today. Everything is different

today. So interest rates are double what they used to be. And so for those who are unaware what

that means, it basically means your payment is like double of what it used to be. So if you had a house that

was, you know, you're buying a $250,000 house and maybe your payment was, I don't know, let's call it $1,700 a month before. Now you might be paying $3,000 a month, give or take. And that's a big chunk. But worse than that or equally bad, the compound the effect, is prices are sometimes double what they were four years ago.

So not only are... junk, but worse than that or equally bad, the compound the effect is prices are sometimes double

what they were four years ago. So not only are, yeah, interest rates higher, which makes the payment

higher, so is the property value, which makes the actual payment out of your pocket way higher.

So the answer, the question, should you buy a house if you can afford it would be my,

if you can afford it reasonably, yeah, house, if you can afford it reasonably, yeah,

house would be a great investment long term. Now, if I push back on that, please, I'm looking

around and I would love to buy a house. Yeah. But it seems like renting is so much cheaper.

Yeah. That why would I spend, let's just call it, uh, just for even numbers, $10,000 a month

on a mortgage property taxes insurance, when I could rent the identical home for $5,200 a month. Yeah. This goes back to the perspective, right? If you were to own that house for three years, 100%. I would not, I would not buy a house. If you're not living there for two years, one year, probably not. But if you're going to hold that house for five years, seven years, 10 years,

20 years, you're going to make so much more than $10,000 a month on average over that time period

because that house that you bought for whatever, call it a million dollars,

is in 10 years from now it's going to be worth, call it $2 million, maybe $2.5 million,

maybe three.

Like the prices are going up, especially because we have just a massive housing shortage in America. So when you look at over a long period of time, this isn't getting better. It's getting worse for affordability. Do you think that more houses will be built? Do you think the regulatory environment is going to get a little bit more friendly to real estate developers? And that can kind of solve that issue a little bit? Or do you think that we're only going to get more tight? There's going to be more regulations and it's going to be harder to build new homes? Yeah. I mean, the government will have to do something, right? Like, here's the problem in a nutshell, what happened? Great recession hit. Everyone lost, you know, A lot of bad things happened. They stopped building from like 2008, 9, 10, 11, 12.

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