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good evening welcome to the Deerwood Realty YouTube channel I'm John Schink founder managing Brooker of D real in St Louis Missouri I am I've got a cold and so my voice sounds weird I apologize for that you know it's Saturday night um getting kind of late I thought we should look at some tweets tonight and just call it the day um lots of stuff going on Twitter or X or whatever you want to call it but I I kind of wanted to go over some stuff I saw that was interesting today let me know what you think it's very hard to tell some some of my episodes do really well and some of them just fall flat I don't know why here we go this is the first one this is from John Burns and he has a real estate consulting company it says how ironic home buyers can't afford agents so buyers agents collect 2.5% of the sale price from sellers plaintiffs can't afford lawyers so lawyers charge 33% of the damages against the defendant maybe the lawyer should get 2.5% or is that too much this is in um in response to the first real estate lawsuit the commission's lawsuit I've been hearing from people I've I've seen some things online some people say that they shouldn't we shouldn't pay anything right we're going to go the way of like McDonald's maybe I have no idea I have no idea um I all I can say is from a a functional standpoint the way it's set up now is I understand what my commission is if I'm representing the buyer I understand that the seller is offering a commission and I you know I know what it is I don't have to call anybody I don't have to do anything like that if it gets to the point where I have to call people all day and schedule appointments just to see if I can get paid a commission it just it's just not there's no money in it none I mean it seems to me like they want to dismantle the real estate industry but they don't have anything that's going to be better in its place and that's problematic another thing that annoys me about this real estate suit is look people act like the argument has become oh the buyer saw the house online therefore uh they didn't need a buyer's agent which is the dumbest thing I've ever heard how do you think the buyer found the house online do you think that the listing just showed up magically you think it just showed up on Zillow by itself it's so stupid it's so stupid and then the other thing is is like as an industry we embraced technology we said here this is you know we'll we'll make it so that everyone can see our listings right and yet not good enough not good enough so I don't know what's going to happen I know I know the value I bring to a transaction other people can disagree um I just I think the whole thing is really really silly and uh I mean I just it's just not my thing but anyway yeah I mean I don't know it's it's screwed up so anyway let's move on it says this is from Don Johnson he's he works on like he talks about the economy a lot and so let's go let's go with this it says inflation is here to stay part 729 and it's a UPS uh note for the rates and it says this summer ups and the US Teamsters reached a new 5-year labor agreement that rewards our hardworking people and sets us up better to serve you we want to thank you for continuing to trust us with your shipping needs at UPS we're committed to investing in the best team in the industry Innovative technology and unmatched Global Network this is all to ensure that you can serve your customers with needed speed and reliability to help you plan ahead here here is a summary of our re changes for 2024 excepted December 3rd 2023 UPS F rate within rates within and between the US Canada and Puerto Rico will increase an average net of 6.3% effective December 26 2023 the rates for UPS ground UPS a and international will increase an average net of 5.9% and so this is the same thing that I saw with the the uww

strike inflation is eaten away at the dollar so badly that I mean any industry that has the ability to strike is probably going to strike because they're just getting eaten alive and you may say John these people are driving 150 they're making $150,000 a year delivering packages well who am I to begrudge them people say I make too much money and I make way less than $150,000 as a real estate

agent I I just don't know but he continues he says here's the here's the scheme hike prices workers demand higher salaries come to an agreement lay off thousands to cut cost to avoid set agreement and maintain margins and then boost margins by raising costs on the consumer and blame your workers it's got it right down down perfectly it's it's never it it's just it's Sleazy and you know what it's it's sleazy that's all there is to it that's the way things are I mean we want we want better right but that's the way it

is um I don't know I don't begrudge anyone for trying to make money I mean that's all you have in your life as far as like you go to work every day you'd like to make money you know it's weird a lot for a long time it was you know um those who work the hardest make the most amount of money no and then like it's it's it's basically I mean everything you know and you should be loyal to your company that you work for until they fire you and then like how loyal are they being to you uh I don't know I I just don't I I everybody's out to get theirs and there's nothing wrong with that I guess um moving on this is Darth PO says the real estate industry keeps talking about when interest rates collapse what if they don't I mean what if the economy tanks and inflation is sticky 2008 was only rescue due to massive stimulus it never even allowed to mean revert and I have this I have this concern

myself like the FED is appointed

okay whoever is the president can flat out get rid of the Fred and just so like Paul is out there he's like we're going to keep rates longer higher for longer well it's destroying an asset bubble right housing do you think that do you think that the next um Administration is going to is going to have the uh The Willpower to continue down this path of destroying what would be argued is equity in homes I just don't see it I I just don't see it now I I mean is that going to cure inflation when you have Reckless spending by Washington I don't think so I don't think so I I don't I don't understand how it's gotten this bad and nobody paid attention but you know at least in my business I have not tried to sell buyers on the idea that oh the interest rates are going to come down just buy now at this High rate because my concern was always if the price of the home goes down now they have to bring they have to bring money to the table even for a low rate well that doesn't seem like a great

plan I don't know here's another one just a reminder Americans are solely payments based they make financial decisions on what they can afford next month homes are currently priced at 3% mortgage rates in a 7.5% mortgage rate World rates need to fall below 3% or prices need to

collaps now I'm not I'm not a crash Doom person um I I think I think what you're going to see is prices are going to stay sticky and high because I think your purchase power has been eroded by inflation I don't think we get it back I mean it takes years and years of like you know dedicated effort and I don't think that the United States has the stomach for it so yeah I I argued this last year and I was totally wrong and and I do want to point out like look I've been proven to be wrong on housing I mean I couldn't I mean once we hit 6% I was like this is ridiculous and yet people kept buying and we got to 8% and things started to slow down a little bit this is in the midwest this is in St Louis I can't speak for Phoenix or some of the other uh Austin or some of the Boomtown areas but I mean I just I just don't feel comfortable with where we are in the in the in the market in the housing market right now it's a terrible deal for buyers it's an okay deal for sellers but they have to find someplace else to live so I don't I don't really see that and and this argument that boomers are going to sell their house in downsize well that's not going to make anything better for anybody because they've got the cash and I'm not I'm I'm fine with Boomers I'm not I don't have I'm not angry about anything or or anything like that I'm just saying if they have the cash to buy these smaller homes well those smaller homes are going to be more expensive and the people that could not buy the smaller homes because they didn't have enough money sure as hell aren't going to be able to buy the the houses that the Boomers move out of at this current right now and this is as of November 11th 2023 I can't tell you know 6 months from now or a year from now what's going to happen I'm just saying right now this is the way it looks and it doesn't look like it makes any sense finally another treat another one from Darth everyone remember when the volume of home sales collapsed first 2006 years before home prices started to drop um I remember that however I don't know that I don't know that the slowing of um volume will lead this time to a similar collapse in home prices that's just me you're welcome to have your own op opinion and if you have your opinion why don't you put it in the comment section below I think it helps the channel I think subscribing helps the channel I think me not saying anything about a certain thing that happened in the in the world maybe two years ago or three years ago now probably helps my channel um I don't know tried something a little different tonight see if you like it um with that I'm going to head on out thank you for watching thank you for listening and I will catch you on the next one