The Home Buying Earthquake That Changes Everything
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 1 April 2024
⏱️ 32 minutes
🧾️ Download transcript
Summary
In today's episode, we discuss the landmark $418 million settlement involving the National Association of Realtors (NAR) and its potential implications for the real estate industry. As retirees and others look to buy or sell homes, they're facing a big shift in how real estate services will be priced and delivered.
Danny Devito video-https://www.americanrhetoric.com/MovieSpeeches/moviespeechotherpeoplesmoneydevito.html
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Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:10.6 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.5 | I'm your host, Devin, joined by my other host, John Ross. |
| 0:17.7 | Howdy. |
| 0:29.4 | Okay. John Rocks. Howdy. You know, John, you and I, we work with a lot of people who are in transitional phases of life. Sure. And in large part, one of the big transitions that happens, |
| 0:35.2 | maybe when someone retires, you know, when they're even getting older than that, which is where you're often working with them, is a change of homes. |
| 0:42.3 | Yeah, not uncommon. |
| 0:43.5 | You know, you see a couple of life changes, you know, often, well, I'll just take myself, for example. |
| 0:49.1 | You know, I got all of my kids out of the house and then sold that big house and bought one small enough that they can't come back to. |
| 0:58.3 | You did. You used to be my neighbor. I did. I used to be your neighbor. And you sold that house and you moved. And the guy that lives there now is a wild man. Yes, that's true. I think that's a fact. Yes. But, you know, but yeah, so I mean, you know, you'll see a |
| 1:15.4 | transition there sometimes. Also, you know, a lot of times people are looking at retirement at a location, right? |
| 1:21.3 | They want to retire. They've been stuck in New Jersey or wherever, but they would like to be in |
| 1:27.3 | Florida or, you know, Texas |
| 1:29.7 | or something, right? And so that retirement move. And then the one that I often see is, you know, |
| 1:34.8 | maybe they bought that larger home or maybe a middle-sized home, but on a larger tract of land. |
| 1:41.6 | You know, they wanted to live in the country. And so they got them, |
| 1:44.3 | you know, a 20-acre plot and stuff, which requires a tremendous amount of maintenance. |
| 1:49.4 | Right. And then as health declines, they can't maintain the property. They may be living outside |
| 1:54.8 | of town. You know, they wanted that country life, but they're not close to medical services |
| 1:59.3 | any longer. They don't, they're not close to their children who would be assisting them. And so all of a sudden, yeah, now they're not close to medical services any longer. They're not close to their children |
| 2:01.8 | who would be assisting them. And so all of a sudden, yeah, now they're looking at moving again. |
... |
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