Remember, inflation is not an increase in prices.

When rates shot up back year, 18 months, two years ago, all of a sudden, community banks,

now I'm going to be discussing the state Hello and welcome. My name is Gino Barberro, one of the co-founders of Jake and Gino. And in this

how to video, I'm going to be discussing the state of the multifamily market and how you can assess

where we are right now in the market. Because I've got to be honest with you. After this week's

events, when Trump fired the head of the BLS, that's the Bureau

Labor Statistics, where I've been saying for the last several years, I just don't trust

government numbers. I don't. Last year, when they had a million jobs and then they revised

them down 800,000, eight months later, how are you going to honestly assess

what's going on in the market? The Fed relies on those numbers to be able to assess what

they're supposed to do with interest rates. If the jobs market is strong, the Fed's going to say

we have a strong economy, no reason to cut interest rates. And now the jobs have been revised downward, where it seems

as if the jobs market is terrible. Well, the Fed just met back in July. They held rates because

they thought jobs are great. So what's going on here? Now, I'm going to be the conspiracy theorist

right now because I'm going to take you back on a little history of what happened back in 2022.

We had the midterm elections coming on. The economy was roaring.

But yet, the Fed waited to raise interest rates because I think in my estimation, they knew that if they

raised rates before the midterm elections, the economy would slow and the party in power

would lose more seats in the midterms. After the 2022 elections occurred, the midterms,

they raised rates at a record pace.

I think nine times and how quickly did they do it?

They basically shocked the crap out of the economy and went into a tailspin.

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