The Expert Podcast

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. So what do we got first We're going to talk about cars. Electric vehicles. Are they over a couple of articles that say that.

Most electric vehicles are…done toast and it may be that there's. backlash revolution against electric vehicles So I'm proud of you that are interested in the automotive industry. in general and want more information about it We recommend this is a good publication automotive news. You can subscribe online. you can get the printed version They still make a printed version It's a little pricey, a hundred something bucks a year.

but it's got all the inside info for the automotive industry So what is the info? For today Well, sat from automotive news. But at some Jalopnik one of our favorite automotive publications What are they saying…

Americans are saying no to an Evie revolution. Are they not buying cars We've already seen the last few days that there are millions of EVs piling up on dealer's lots three or four months worth in some cases. But the powers that be are making the case that they should not allow the free market to decide…

So it sounds like. You're not going to have a choice. Right. Allowing the free market to decide is risky. So what they're saying is that somebody should step in and who is that going to be?

Probably government or. Automotive manufacturers. Supported by the government…

So their say. that it's risky to let people decide. It's risky. To have a free market. Because Americans are saying no to an E V.

Revolution What are your thoughts on that? Should you be able to decide or should the government decide what kind of car you buy? But I know that you have an answer to that…

For what is selling? This. Opinion says that the only type of VV. That makes sense As a Tesla…

Several car companies say their electric vehicles will be built with Tesla standard and 25. Why wouldn't a non Tesla shopper delayed their purchase until then buying a non Tesla Evie now means finding charging stations will get more difficult. Will that make sense Think about it. All the manufacturers Ford did a deal. I believe BMW Mercedes.

That says that. The vehicles manufactured by those alternate. Car coming. Are going to use the Tesla charging. So let's say you buy a Ford today with the old style four charger network.

And in two years, All of the charging stations are Tesla. You're either going to need an adapter or it's not going to work. So this is an interesting take. On…

Which model to buy. In fact, there's other reasons why Tesla. Is…a more popular choice They're aggressive on pricing. They're the kind of original mainstream. manufacturer.

So there's a lot of, I guess, Momentum behind that brand…

In fact since manufacturers. Have dropped prices. Another. Potential problem is used car values. So.

Ford F-150 lightning…

For drop the price $10,000…

Well that's on the new car, but what about used cars Is that going to affect use cars will obviously it will. Anytime the new the new car values go up or down used cars have. The follow because used cars normally are a percentage of the new car. So if that new car just went down 10 grand used cars aren't going to be worth as much. See where that's going.

So as these. Electric vehicle prices are being chopped Tesla did a major price drop. A few months ago. That's gonna affect the used car market. This story.

is a little bit different It comes out of, Arizona about vehicle titles. And we won't play the video but what happened to this woman is that she bought a vehicle. They financed it. That's not true They didn't finance it They bought a vehicle for cash. And somebody else cloned their VIN number.

They cloned their VIN number I went and got a loan for that VIN number. And now this woman who paid cash for a car. Has a lien against her title…

That she can't get removed because somebody forged the name she's going through the investigative division. At the. DMV. But. That's going to take some time to play itself out.

It sounds like a scam to me…

So as always. The questions are what happened with the housing market Is the housing market peak. Is it over. Well, People are waiting for the housing market to crash. According to.

Many experts. The housing crash actually happened. When we weren't looking…

Is that true…

Well, Wall street journal. Says…the housing recession. Already happened. Because the market is coming back. Remember when.

At the end of 2022 beginning of 2023 there was a little bit of a dip in real estate prices. And then all of a sudden it came back…

Experts are saying that was the crash you waiting for the crash That was it. That was just the beginning of it That was it. A lot of people still expect us to fall into recession, but for the housing market, the recession could be in the rear view Mirror builders are less downbeat than they were a year ago. Home builders. R…

Like gangbusters building houses. The federal reserve bank will probably raise rates again. But. The last in right. increases didn't affect housing at all.

In fact that the sales One of…

the nation's largest builder now expects to close on 83,000 homes. up from its previous forecast of 77,000. It's like 5% increase rebound and housing is surprising in the concept and mortgage rates. It's not if you're watching this channel. We've been talking for the last few years saying that.

The housing crash that everybody thinks is going to happen is not going to happen Not that we want it to or don't want it to it has nothing to do with opinion. It has to do with pure math…

And the problem is supply of homes rather than affordability. That's the problem. There are no homes…

Everybody who has a home right now, doesn't want to sell it because they have a. A very appealing interest rate…

If you have a house with 3% interest or 4% interest you're not going to sell it And then go buy one with 7% interest. It doesn't matter what the price is. So everybody's hanging on to it Nobody wants to sell their house. The only place for inventories coming from new home builders. And they can't build them fast enough So…

The theory is housing crash org. happened. You just blinked and he missed it…

Home sales dropped And you might think well that means the market's down but that's not why Because short supply there's no houses to buy. That's going to drop the sales rate not the price, the price didn't drop. The volume drop then there's two different things to look at the price and the volume. If you're looking at the housing market and read, oh sales dropped Some people think that means the price drop That's not what happened. The volume of transactions dropped.

And that's only because there's no houses to buy simply not enough homes for sale…

Sales of pre-owned homes dropped 3% in June compared to may. So think about it…

If that's 3% one month, if you multiply that times. 12 months that's almost 40% drop…

Compared to June of last year was almost 20%. Slowest pace since 2009 housing crash. Not because of a crash. It's because of inventory…

This is creating. Problems for home buyers…

In fact. Just what we talked about I…just saw it in the article when I. Too quickly. Ditch the article, what it said was…

Home sales fell but home prices held firm In fact, they didn't just help from they went up…

That's what really what happened? Okay. What does that doing for…

People's finances. Finance is a big deal for a lot of people…

How many Americans actually retire with a million bucks you might think well I'm a millionaire a million dollars Isn't that much anymore. Right. If you think about it…

The average house is 500,000 It's not really the average The average is about four 70 but round it off to 500, that's two times the price of a house. million dollars. Hi, how's this 500,000. Million dollars is two times at, well if you go back to the eighties or nineties when houses were 1 50, 180, Two times the house was like 300 grand…

So a million dollars now is like the, is like 300,000 before. Saving a million for retirement is a good goal to have but putting that much aside could make it easy to do a lifestyle but here's the thing How many really have that…

The average or savings breaks down like this. 400 grand. 300 grand. Not even a million…

Median 65 to 75 year olds, 1 64 their retirement accounts median 75 and older S 83,000. So let me ask you this question. Even if you had a million dollars let's say you had a million dollars in the bank to retirement. How long would that last You. What are you going to retire?

You retire at 75…

Let's say you retire at 75. And you have a million dollars…

If you're going to live 10 more years to 85 that means you can take a hundred thousand out of your retirement every year until you run out. Do you need to take more than a hundred thousand I don't know You probably were making close to that If you have a million dollars in the bank you probably were making six figures. Before you retired. So. Taken out a hundred grand is not all that crazy to think about…

What is affecting incomes Well as always, one of the things that's affecting incomes is. Artificial intelligence. Like we always talk about. Google is testing an AI tool that will write news articles This is troubling on to. Two or three levels.

One is. It's going to cost people jobs people in the news industry They're not going to have a job if you're. AI is going to write. News articles. News reporters journalists don't you don't need to pay you anymore.

And if he can write news articles what else can it do What else can it write Think about what you do when your job every day compared to how sophisticated it is for a news journalist to write an article, which is more complicated. If your job is less complicated than writing the news and AI could take your job. So there's problem Number two, problem Number three is the news that you read. Is going to come from AI, not from an actual human. What does that mean?

Is it going to be any good…

But what about the quality each at GPT, which was the darling hot thing for AI just a few months ago. Is. Severely impacted…

It used to be able to solve a simple math problem 90% of the time Now it's 2% of the time Why is that? It's performing worse on certain task in June than it did in March. Wow. fluctuations called drift. What that means is AI is supposed to learn and teach itself.

But what it's happening is it's teaching itself the wrong way to do it. It's actually going backwards. And that's where AI can be problematic If it's not going to get better, you don't know if the quality is good if you just benchmark the quality of what it was a month ago. And then all of a sudden it gets worse. Now you're not going to know that your answers are wrong until you try to use those answers If you're trying to use math answers to build a bridge and it's wrong and the bridge fails.

You're not going to know until the bridge fails So you still need human interim intervention. On these AI tools…

As always comment below This is a shorter video for the end of the week on a Friday. we want to hear what. Which of these subjects you prefer for us to talk about AI EVs. real estate. Finance and we'll steer more of our content towards that…

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