Why 62% of Americans Never Break into Millionaire Status w/Nick Maggiulli

On The Market

BiggerPockets

Investing, News, Education, Business

4.8 • 858 Ratings

🗓️ 28 August 2025

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is the “long fizzle” the housing market’s next chapter? With mortgage rates still high and interest rates keeping cash parked in T-bills, many buyers are sidelined, pointing to a housing market prediction of flat home prices in nominal terms and falling housing prices after inflation. Dave and analyst Nick Maggiulli connect today’s risk-on/risk-off behavior back to housing and outline three paths: melt-up followed by a correction, a long fizzle, or a supply-driven drop that’s least likely. Nick also shares a practical playbook so you can position for any housing market forecast, focus on income growth, keep investing steadily, and aim for “doubles” in real estate while protecting your downside. Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Property Manager Finder Dave's BiggerPockets Profile Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/on-the-market-351⁠⁠⁠ Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠advertise@biggerpockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	There is no one-size-fits-all investing advice.
0:04.0	Realistically, a dollar means something different to you if your net worth is $10,000
0:09.2	than it does if your net worth is a million dollars.
0:13.3	And that is where the wealth ladder comes in.
0:15.6	It's a concept to help guide financial choices at the different levels of wealth and
0:20.7	stages of an invest in career.
0:22.9	And today, I'm speaking with the author who invented the wealth ladder concept about how it can
0:28.2	help any investor in any market conditions.
0:36.3	Hey, everyone, I'm Dave Meyer, and this is On the Market. Our guest on the show today is Nick
0:41.8	Majuli. He's the chief operating officer at Ritt Holtz Wealth Management and the New York
0:46.9	Times best-selling author of Just Keep Buying. He also just released a new book called The Wealth Ladder.
0:53.6	Nick has been on the show before about three years ago, but I wanted to bring him back to talk
0:59.5	about his wealth ladder concept and how investing in real estate can fit into an investing
1:05.4	career at many different stages.
1:07.9	Nick is a true thought leader.
1:09.8	I listened to him on all kinds of economic topics,
1:13.5	including the housing market. And this wealth ladder concept that he has is an innovative and
1:19.0	really useful framework for organizing investing ideas, no matter what ad set class you're
1:24.7	investing in or where you're starting from. So let's bring on Nick.
1:28.7	Nick, welcome back to On the Market. Thanks for being here. Thanks for having me back on.
1:32.2	Appreciate it. For those of our audience who didn't catch your first appearance here, which was
1:37.0	three years ago at this point, can you fill us in on your background and how you're sort of
	...

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