Hello fellow Rebel capitals hope you're well. So on

CNBC just now they came out with a story talking about mortgage demand

and how we haven't seen these types of numbers since 1996.

And you may say to yourself, well, George,

that's not that big of a deal.

I mean, back in 1996,

that's when the housing market was actually sane and the

fundamentals made sense but that's my point you see we're still in la la

land when it comes to the housing market.

So the fact that demand for mortgages is this low tells you how little additional supply we

need to dramatically impact prices.

I know this is a concept that we've been talking about for the last week on this channel

and actually the whiteboard on it that will be out tonight.

So stay tuned for that. But let's get right into the article and check this out wherever it went.

There it is. So mortgage demand stalls at a level not seen since 1996.

And I would point out, I think we discussed this in an earlier video today, Josh,

that this is not just the lowest level since 1996, but it's dramatically lower than what we saw at the depths of the last housing bust, which in and of itself is completely mind-blowing.

And just to give me an anecdotal story, I remember when I retired,

and in 2012, most of you know that.

And the first thing I did when I started investing my own money

is I was buying real estate.

I was buying these small rental properties

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