Regardless of timing, the key is action. Today’s show demonstrates the importance of taking action. Jason is joined by Evan Moffic to talk about the availability of mortgage credit and housing affordability. They look at what has changed since 2004. They also discuss whether one should wait and try to time the market. Jason explains the opportunity costs of timing the market.
Announcer 0:01
This show is produced by the Hartman media company. For more information and links to all our great podcasts, visit Hartman media.com.
Announcer 0:12
Welcome to the American monetary associations podcast where we explore how monetary policy impacts the real lives of real people and the action steps necessary to preserve wealth and enhance one’s lifestyle.
Jason Hartman 0:29
I want to welcome Evan back to the show. He is one of our investment counselors now originally started out as a client as so many do. And we are going to talk about a variety of items, not the least of which, which I think is a really important item on the list, which is the M c ai. Have you followed the MCA AI? Do you know what the MCA AI is? We’re gonna talk about it today because I think you’re gonna like this. It’s going to tell you a lot about that. The real estate market and about the economy in general. Evan, welcome back.
Evan Moffic 1:04
Thanks, Jason, honor to be here and to talk about, you know, you’ve been teaching us and guiding us seven days a week lately. It’s really amazing.
Jason Hartman 1:12
Well, I am honored to be everybody’s guide. And I take that responsibility very seriously. Even though sometimes I don’t know if it’s X series on the show, I don’t take it very seriously. But entertainment, you got to be a little bit entertaining with all this knowledge and all this doom and gloom out there and all of this stuff. So, you know, people are thinking, you know, should I time the market? Should I wait? Well, guess what they’re always thinking that they were saying that in 2012. They were saying that in 2014. They were saying that in 2016. And all through those years, it was going up, up, up, up, up, up up, people were making tons of money, and all the market timers, maybe they will finally be right now that we are in a recession, and maybe It will even become a de pression. Not that there’s an academic definition of that. But guess what they had, they had the opportunity cost of all that money they lost by waiting all the returns, they didn’t make all those dogs that don’t bark, because you can hear the dogs that don’t bark. They just kept their money in cash. They got eaten alive by taxes and inflation. So their cash went down in value. That little minor amount of interest they received was taxable. I’m not just talking about the housing market. I’m talking about the stock market, too. They didn’t do anything. They were timing everything. They were waiting for the bubble to pop in, guess what? They waited 10 long years a decade. And now you could argue that the bubble has popped. Okay, maybe it has. But as I’ve said many times as part of my pandemic investing strategy, the economic bubble has popped. So if you look at that Case Shiller index, you are going to see prices declining. But remember, 75% of that is weighted towards cyclical markets that we don’t even play in. We haven’t recommended those markets for 16 years. So that’s not the housing market. Okay, it’s 75% cyclical. This is a tale of three markets, linear markets, cyclical markets and hybrid markets. And, Evan, I want to dive into this MCI, because I think this is very telling, as I have long said, gotta stop listening to people and looking at charts that show housing prices, because they are very misleading. because very few people buy a house based on the price. They actually buy it based on the payment. And housing has become actually very affordable as prices have gone up. Why you ask? Well, let me tell you, it’s because interest rates have gone down as prices have gone up. And I’m saying macro trend. Of course. They’re a little bumps. In between, please don’t go to Jason hartman.com slash ask and say, well, Jason, in June of 2018, you know, housing affordability was low. So actually, you’re wrong. Well, no, I’m not wrong because I’m talking about the macro trend. I don’t ever try to tell people that June is the month to avoid. And July is okay, or this week is good and next week’s bad or anything like that. It’s just the macro trend. Okay, that’s what we’re looking at. You can’t this isn’t a stupid stock market, the modern version of organized crime, okay, this is and boy are we seeing that graft and corruption again. But this is a macro trend thing, the way you look at nesting in real estate. And so people buy on a payment, and based on the payment houses have become pretty darn affordable. And so let’s look at the affordability index. And let’s look at the M ca i want to dive into No?
Evan Moffic 5:00
Sure, absolutely. I mean, I think the affordability index is something that we look at all the time, because a lot of our markets are high on the affordability index, ie they’re very affordable. But then we actually, because you teach about the difference between a linear market and a hybrid market, one of the shifts that you begin to see when a market like Atlanta went from linear to hybrid, as houses became less affordable. So monitoring that index really helps us figure out what are the optimal markets to invest in and what they mean how we can project out.
Jason Hartman 5:33
Absolutely, and I want to tell you, the fair housing affordability index is misleading in all sorts of ways too, because of course, there are 400 local markets in the US, not one housing market. And the other thing that the affordability index has this giant flaw, okay. Is it doesn’t include immigrants buying properties. And that’s a big big flaw. It also doesn’t include retirees that are making large down payments. Some people can be cash rich, but income poor, some people can be income rich and net worth poor. So there are definitely flaws. But if I had to pick one index i do like, conceptually it is the affordability index. But again, it can mislead you 1000 ways. That’s why you listen to this show. So we can help you peel the onion, we can guide you through that and help you avoid any mistakes. So let’s look at some commentary on this. So just looking at the last two years of the housing affordability index, okay, and this is from the Federal Reserve Bank of St. Louis, of course, Fred, you see this on lots of charts, it’s very commonly used. They have all sorts of great charts and the group that publishes the affordability index is NAR, the National Association of Realtors. I was a member of that association For many, many years, probably about 24 years, I think. And it’s a big trade organization, maybe the biggest in the world is they’ve got about 1.4 million members, we are sure to see the ranks of their membership declining now, okay. It always happens. But it’s still a giant group and they have, they have a good research arm. Now keep in mind, they have an agenda to they’re in the business of promoting housing. So generally they skew toward where everything’s always always a good idea. It’s always a good time to buy, right, which is not true, necessarily, but in our
Evan Moffic 7:34
market, it’s true.
Jason Hartman 7:36
In our markets, it pretty much is true because they’re linear, they don’t change that much. Okay. But in cyclical markets, you definitely got to be a market timer. So the index was pretty good back in April of 2018. Okay, and then it went down by June of 2018. Now, you can see that this is influenced by interest rates, largely Because prices don’t change that quickly. And then by September of 18, it was back up again. And housing affordability. Guess where it peaked in the last two years, February of 2019. So you see that this is largely interest rate driven. It takes the median income and the median mortgage payment based on I think, a 10% or 20%. Down formula. I don’t remember offhand. Okay. But that’s basically how it works. Now, let’s look at the MCI, the mortgage credit availability index.
Evan Moffic 8:38
This is because we want as much debt as possible right debt,
Jason Hartman 8:42
we love good debt. We definitely love good debt and love leverage, because leverage allows you to be bigger than you are. That’s what leverage basically does. It allows you, you know, Archimedes said, Give me a lever long enough and a fulcrum on which to place it and I will move the entire world And you could do that because leverage works. Just think of a teeter totter. That’s leverage. And when we look at the MCA i, this is published by the NBA or the Mortgage Bankers Association. And what it does is it basically tells us how difficult or how easy is it to obtain financing. It’s not as much about the interest rate on the financing. It’s about the ease of qualifying for the financing. So we look at affordability, which is mortgage payments versus income, right? And then we look at the ability to attain financing because many times throughout the last 16 years when I’ve been just helping 100% focused on investors. We’ve had times where interest rates were super cheap. affordability was super high, but guess what it was actually screamingly difficult to obtain financing. Okay, yes,
Evan Moffic 10:04
like 2010 2011 2012 Yeah, basically had to, you know, give your LSAT scores, you know, to get financing right
Jason Hartman 10:11
in your shoe size. You know, I mean everything, it was really hard. So let’s go back to 2004 because that was before the Great Recession. That was when things were going crazy. Now this index makes 2012 the benchmark so on the index 2012 equals 100. So that’s our reference point 2012 100 because back in 2008, it was probably v hardest time to get a mortgage it toward the end of 2008. Okay. And then toward the end of 2009. Almost as difficult it was pretty hard there for a couple of years. It leveled out and started to improve In 2012, you know, I remember many of you listening, were coming to my creating wealth conference, my meet the Masters conference, back then we didn’t have prophets in paradise conference. We didn’t have jQ Jason Hartman University back then we just really had meet the masters and creating wealth. Those were our two primary events back then. And of course, we have the podcast that you’re listening to now, you know, we were talking all about this. And if you listen to the flashback Friday shows which hopefully you do, because those who do not learn from history are doomed to repeat it. So you got to have historical context, which by the way, I have another great show recommendation for everybody. And this one is on amazon prime. And it’s called America in color. And what it does is it goes decade by decade from the 1920s to the 1960s. And they colorized all this old footage, and you know, it’s a funny thing in the way at least speak for myself, I really I always say you must watch old TV shows, yeah, old movies, read old books and listen to old music. So you’ll understand how the world was. Okay? So you have a sense of history. Very, very important. And the older I get, the more nostalgic I’m becoming. I don’t know, that’s kind of weird. But I definitely say that for myself, maybe it’s true of listeners. But very important to have context. And that’s what history does. It gives us a backdrop, it gives us context, it gives us a compared to what, and when I watch old films and look at old pictures, and they’re in black and white. It’s very hard for me to think like I think the whole world must have been in black and white back then. And obviously, it wasn’t it was in color, you know, and I and so the fact that they’re colorized is so much better. It really helps you understand and relate much better and you know, I recommended a long time ago, I recommended that series World War Two in color, which was also quite excellent. And I think that’s maybe on Netflix. I’m not sure. But watch America in color. It’s really good. That’s a great series. So you’ll have history.
Evan Moffic 13:14
Okay. Well, we got the time to watch it right now. That’s for sure.
Jason Hartman 13:17
Well, at least we’re at home. We don’t know if we have the time. I don’t have the time.
Evan Moffic 13:22
That’s true. You’re working seven days a week? It’s a lot.
Jason Hartman 13:25
Yeah. Okay. But we’re talking about history. So the index 100 being the baseline, right? Let’s go back further than where the baseline was created at 2012. Let’s look at 2004. The index was at, I’ll just round off for ease here because you’re not looking at it. It’s not visual. It was just at about 400. In other words, very easy to get financing in 2004 compared to 2012, and compared to now, okay, right. And we’ll get to now in a moment, but let’s just look at history first, so we can answer the question correctly. What? Okay 2000 for 402,006 the index is at 900. Like they were giving money away, okay? fog, a mirror, have a pulse, right one day out of bankruptcy. One day out of foreclosure one day out of prison. No job. Doesn’t matter. Okay, illegal alien, or sorry, I don’t mean to offend anybody. I’ll say the Hillary Clinton version workers without papers, okay? I’m not known for political correctness. Okay. So if you’re foreclosure, bankrupt workers without papers got I got a crack up. It’s such a ridiculous statement. Whatever, no job. You can get mortgages, no problem, the index is at 900. And then the mortgage meltdown occurs and it just drops precipitously. like boom, it falls. off a cliff, the index from December of 2006. When it’s at 900, to December of 2008, in a mirror two years, it goes to about 98. So it’s cut nine times. It’s young ninth of its previous reading in two
Evan Moffic 15:24
years, which was so odd, because I mean, it’s we can understand why the banks were hoarding cash because people weren’t paying their mortgages and they were having to foreclose. But wasn’t the whole point of fed intervention in the economy was to get banks to start loaning again and it didn’t really work. Get it?
Jason Hartman 15:40
No, it didn’t work because the greedy, disgusting criminal banksters they were hoarding the money, and they were doing all sorts of stuff. One of them was just buying treasury bills.
Evan Moffic 15:51
Right. Okay. Because they had profit.
Jason Hartman 15:52
Yeah, they could do okay with that. Yes, the interest was a little lower, but they weren’t. They weren’t really paying anything for their money. Anyway. It was it was they had free money, and they could buy t bills and get a little bit of a yield with like no risk. So yeah, it’s it’s ridiculous. Okay. So the index absolutely collapses in two years. And then it bumps along the bottom, it gets a little better in June of 2009 are sorry, yeah, June of 2009. Then it goes down again in December of oh nine, and kind of bumps along the bottom until 2012. And it’s right along from you know, 2010 to 2012. It’s right at that 100. Benchmark level, huh. Then you see it start to improve. And in 2013, it’s a little better. I’m going to estimate it’s very hard to read on this chart, but I’m going to estimate that at about, what would you say about 130? Maybe, yeah, 130. Right. Yeah. And then he gets 2015, June of 2015. And it’s definitely up I’m going to say that’s about 100 AD
Evan Moffic 17:03
AD that may not even close to what it was before. Right? It’s,
Jason Hartman 17:07
you know, the banks. They became too liberal than they became way too conservative all of a sudden. Okay, yeah. And they overcorrected. And then 2016, it’s getting pretty easy. June of 2017 is like, really easy to qualify for a mortgage. Okay, right. And they’re, they’re worried about almost 200 on the index, okay. So almost double the low point or the benchmark point, right. And then we bump along, and it’s really good. And then in December of 2019, which, sorry, it’s the furthest the chart goes, the index starts to come down. It gets more difficult to qualify for mortgages. Now the last reading on the index, sorry, not I didn’t mean to say now, but the last reading on this chart is 152.
Evan Moffic 18:04
That’s where the index is. And it’s probably gone down significantly since then, in some part because of COVID-19 that all banks don’t know what to do they have all this money coming in. And the other interesting thing is, you’ve always taught that your credit score is an asset, yes use and that this actually for investors with good credit scores, this is good. If they mean mortgage credit availability index goes down a little bit, but you’re on the higher tier credit. You’ve got less competition for buying property. I
Jason Hartman 18:35
am so glad you said that. You know, just remember something as much as anybody listening, who’s investing is going to complain about, Oh, it’s so hard to qualify for a mortgage. It’s such a pain in the rear end. Well, just remember, it’s very difficult for everybody else to and the people in life in any endeavor that work. harder and are willing to put up with more crap to get to their goal. They just start eliminating their competition. Okay, you know, I say that to our investment counselors and be alone. It’s like I say, Hey, get on the phone and make your calls talk to people and people buy properties. Imagine that. Well, you know, people don’t answer the phone. So I said, well, just keep calling them. Okay. And the harder it is to get through the more you eliminate your competition, think about it from some people listening are single about half the population half about half the adult population single, about half is married. Okay. And so think about it in your romantic life, for example, and, and at one point, everybody was single, even if you’re married now, you know, the harder it is. If you’re a guide, you know, the harder it is to get the girl, the less competition you have, right? If you’re a salesperson, when there’s a sign up that says No soliciting. Well guess what most sales people won’t try. And if you just ignore the sign you’re soliciting in an area where there’s like zero competition. And you know, yes, you might get yelled at but you know, you’re also going to get the order.
Evan Moffic 20:17
Right. You’ve got to break through the competition. You gotta you
Jason Hartman 20:20
know, let’s let us know. Mike, you’re you’re you’re a rabbi. Let’s use the Is it a Yiddish word or a Hebrew word? But the word chutzpah is the right word. Yes. Right.
Evan Moffic 20:29
Yes. It’s a Yiddish word. Absolutely. You have to have chutzpah to achieve anything. Yeah, it really is true. I mean, in some ways, that sort of evolution. That’s kind of how we’re designed and none of us want to be some people are just driven incessantly. And those are rare people. I mean, but all of us we kind of yearn for comfort. But uncomfort is in some ways the enemy of success.
Jason Hartman 20:56
I wonder that at luxury is the call to apathy as I always Right, yeah,
Evan Moffic 21:00
right. I mean, like someone who can make $10 million, is still not going to be satisfied with 10 million, they want to make 100 million. But the only kind of person who would ever make 10 million is someone who wouldn’t be satisfied with it. It’s a really interesting, kind of the way our minds work in some ways, it’s unhealthy. At a certain point, you want to be satisfied, and say, You know what, another 10 million isn’t gonna make a big difference to me. But we’re why certain people are wired in certain ways. So I try to teach a kind of balance, like you want to be driven, you want to push yourself, but then you also want to be content you want to have, you don’t want to be miserable. Always be miserable your entire life. So it’s a balance, but especially when it comes to sales, especially when it comes to achieving success. You’ve got to be uncomfortable. You’ve got to be fresh out of your comfort zone.
Jason Hartman 21:46
So what does that say to investors, when you’ve got to do uncomfortable things when everybody else is afraid is when you got to have courage and like you talked about evolution, the gene pool will sort you out. And that’s what will happen with investors too, because there’s a survival of the fittest in the investment game. And the fittest is the one who has the courage to do what other people are unwilling to do. They have the hutzpah, they have the courage, and they have the drive to do it, to go through the hassles to jump through the hoops.
Evan Moffic 22:27
Well, you talk about how a mortgage is an asset, getting a 30 year, who on earth likes gathering all those papers for a mortgage lender? No, I mean, tax returns and his latest nightmare. I mean, it takes forever It’s so boring, and yet, you got to do it right. And once you do it, you get this incredible 30 year locked interest rate.
Jason Hartman 22:46
You get it you get free money, essentially I get paid to keep the money to store the money for them. So look at your tenants in your properties. The reason the fundamental core reason most people are Forever renting and forever tenants is I traced back to I mean, you can call it what you want you know this that the other thing that inequality sure that’s all an element, but the base reason is financial immaturity. And one of my favorite quotes is successful people are willing to do things unsuccessful people are unwilling to do and note, if that did not say not able to do it said not willing to do. And do you think your tenants are going to bother to learn about real estate? Do you think your tenants aren’t going to bother to, you know, manage their credit score? And to go through the hoops of learning about mortgages applying for a mortgage, supplying all the paperwork? Most of them? No, they’re not. They’d rather just have whatever is convenient today, whatever’s proximate and they want to have the reward now, and they won’t say sacrifice for a bigger distant goal. And everybody listening will sacrifice for the bigger distant goal. And that’s why when you’re willing to go through the hassle, the brain damage the headache, whatever you want to call it, of getting the mortgages, you’re acquiring an asset. That’s what a lot of people would compare it to. Okay, buy a fixer upper property, and you can create sweat equity, go and spend all of your weekends painting the house, cleaning up the yard, fixing it up so that you can rent it or resell it, and you’ll make a little profit margin doing fixer uppers. sure everybody knows that concept. Well, that’s what you’re also doing by just simply investing in and going through the headache of getting a mortgage, and having the courage to buy when other people are scared. So that’s a big tangent on PMC AI.
Evan Moffic 24:52
It’s a critical life lesson for any successful investor. And you know, the other thing is, you’re gonna fail sometimes, you know, you’re sometimes You spend all that time working on a mortgage application and then you run into some snafu, but then you just got to get up, you know, this is kind of like resilience and it teach any investor the ability to be resilient to stick it out. That makes all the difference. Yeah, no question about it. And I think you wanted to tie this in, even with the getting off your butts. And that’s
Jason Hartman 25:20
right, man. Tell us about that.
Evan Moffic 25:22
Well, I you know, in conversations I’ve had, I always hear the latest excuse about why someone can’t buy a property. Oh, I just read it about a bill in Congress introduced by some crazy representative, you know, to say, no one’s going to have to make their rental payments for a year, or I just read that, you know, there’s no more mortgage funding available as we just talked about, or I think things are going to get cheaper. The latest I’m hearing people saying, oh, in three months when all the mortgage forbearance comes due or six months, there’s going to be all these foreclosures and houses are going to get cheaper. So I’m going to wait and buy Then you get all these excuses. And you know what some of them might be right? But that’s never, I find more often than not. It’s people who can make these excuses. They never get off their butts. In other words, they never pay. They’re always like, well, I could buy now, but I’m going to do this, or I, I’m really interested, but I’m going to do this. It’s always an excuse for not taking action, there will always be a reason not to do so.
Jason Hartman 26:26
That was, yeah, that will never, ever change. You know, I remember years ago, listening to this radio show I used to listen to on Sunday nights or real radio show. And it was on KT which was a music station. But every Sunday night, they had a talk station with Mike Harrison, Harrison, and they called it Harrison’s mic. And all these interesting callers would call in and I remember and I was just a kid when I would listen to this. This one guy called in and he talked about how he was going to quit smoking, and it was great how he kept going through all The reasons why he couldn’t quit smoking yet. Well, right now is really stressful time and I got this and that going on, and the host just shredded him. It’s like you will never quit smoking, you’ve always got a reason not to quit. So you’re going to be right, you know, and it’s absolutely true, there will always be a reason not to do it. Now you
Evan Moffic 27:20
got to do i mean that’s in the truth is, as you’ve taught over and over again, you learn by doing, is it going to be perfect? No, but it’s better to act. Now. There’s an opportunity cost. Even if prices were to go down. Let’s say they go down by 5%.
Jason Hartman 27:36
Who cares? Go down 20%. Who cares? That’s not the big deal. you’re investing for yield and there’s this mass migration, coming with these suburban, linear real estate markets that is gonna make you rich. I mean, folks, this is the thing. Everybody back in 2008 in 2009, vast majority of people totally fearful wouldn’t do a thing paralyzed yet. There were a few. And you know, I remember it who our clients were doing it. And you can hear them on the old episodes. David Porter comes to mind right now actually, Hi, David beers probably listening. You know, he bought a whole bunch of properties in Indianapolis, when just nobody would buy them. And he’s, he’s sitting pretty right now. I mean,
Evan Moffic 28:22
that’s part of our job is to push people a little bit. Yeah, that you got to say, you know what, yes, there’s a million reasons not to, but here’s why you should, and it’s pushing sometimes people to do what’s in their own best interest. Like, you know, I’m kind of a libertarian, I don’t want no government telling me what to do, what not to do, and so forth. But sometimes when somebody has our best interests at heart, you know, we should respond to their pushing a little bit, you know, yes, do this. It’s going to help you in the long run. So I think that’s, that’s partially what you do by educating us
Jason Hartman 28:55
now. Well, you know, that’s actually a good point in reverse to, we should also Be careful that we don’t respond to their negativity. Because as much as someone may care about you, misery loves company. And whenever you know someone around you is growing. And you’re not you feel like you can’t or your, you don’t want to take the risk or whatever, and they’re willing to grow and go for it. You discourage them a lot of times and people do that to you, too. So just understand the chatter.
Evan Moffic 29:31
Choose your company. Well, yeah,
Jason Hartman 29:32
choose your company. Well, and in fact, that’s another reason to have weak ties. As I talked about recently on the show, you mentioned that after I talked about that on that prior episode, yeah. Do you want to go into that just for a minute? Well, so
Evan Moffic 29:45
yes, you mentioned about weak ties. And this is a this is a sociological study. I mean, this is academic research has shown that many of the connections for jobs for investment deals through just Certain
Jason Hartman 30:00
narrower romantic interests. mantich Yes.
Evan Moffic 30:03
Yeah, cuz I do a lot of weddings. And I asked people how they met. Oftentimes someone introduced them who wasn’t even a very good friend of either of them
Jason Hartman 30:10
was a weak tie, or a weak tie is Yeah.
Evan Moffic 30:14
Right. So expand your networks develop these weak ties, because you don’t, yes, it’s nice to have a few close friends. That’s always nice. But a lot of the kind of success in life comes from people. We don’t know all that well, but who create a connection for us. So how do you develop weak ties? Well, you know, you go to conferences, you socialize with people from work, you do masterminds, that you’re a part of Jason that you’ve created and led, and these are all ways of developing these weak ties, and some of them will turn into strong ties. That’s not to say strong ties are bad, but we should open ourselves up to those opportunities, right, but
Jason Hartman 30:51
strong ties in some ways are bad, okay, and it just needs to be recognized. The strong ties hold you back. Yeah, you know, they keep you in this little myopic environment. That’s the problem with strong ties. And I don’t want to listen, you know, this is gonna sound weird. I don’t want to debunk the value of like family relationships. Okay? But let me tell you something. If all of your ideas, and all of your influence is coming from you’re obviously very small family because by definition, a family is always small, even if you have 10 kids and 39 wives. Okay. That’s still smaller than my 5000 Facebook friends. Is that okay? Yeah, I’m joking, obviously. But your family by definition will always be small. Right? Even if you have a big family, it’s still small, comparatively to like you know, the friend universe, then you’re going to just think like them, and you’re a reflection of the people you hang around who influenced you? who think like you? I remember a long time ago, one of my very early girlfriends, I had become really interested in like the self improvement movement. Back then they even called it PMA positive mental attitude. Okay. And, you know, I had just discovered, you know, Zig Ziglar and Denis waitley. And Earl Nightingale and Jim Rohn. I love that stuff. And, you know, she didn’t like it. She was she always found ways to debunk it, and obviously, you know, together anymore, but, you know, I just think about how you can just be so pulled down by strong ties. weak ties don’t have the power to do that to you.
Evan Moffic 32:40
Good point. Okay. Yeah, good point. And you just have to all always be kind of particular about your strong ties. choose who you let into your life, what podcasts you listen to, you know, Jason, there are probably people who feel strong ties to you who you’ve never met, but you’ve influenced their life through the podcast. Now, I don’t know whether we call that a strong tire weak tire.
Jason Hartman 33:01
Here’s what it is. It’s a strong virtual tie.
Evan Moffic 33:05
Yeah. So we have to be very careful about who we let into our life. I mean, that’s true in anything about what speakers we listen to what books we read, and try to maintain that positivity
Jason Hartman 33:15
foster things. And if you let me be careful what thoughts you let into your head there, it’s really, really important, maybe more important than anything else. So, so good points. Evan, we got to wrap it up. Anything else you want to share?
Evan Moffic 33:30
It’s always just so good to understand what we’re doing. I mean, the key thing is to take action, but I think what we learn from the show is why the actions we take make a lot of sense, the affordability index, the availability of mortgage lending index, and just getting off our butts. This is the reinforcement we need to take action.
Jason Hartman 33:49
Absolutely. If you need us, Jason hartman.com, or one 800 Hartman, we’re here for you, to guide you through this entire process of building an awesome investment portfolio and really helping you set yourself apart and your financial life apart and just helping you grow. That’s what we do here. And we’re available to you. So reach out to us. And Until the next episode, happy investing. Thank you so much for listening. Please be sure to subscribe so that you don’t miss any episodes. Be sure to check out the show’s specific website and our general website Hartman. Mediacom for appropriate disclaimers and Terms of Service. Remember that guest opinions are their own. And if you require specific legal or tax advice, or advice and any other specialized area, please consult an appropriate professional. And we also very much appreciate you reviewing the show. Please go to iTunes or Stitcher Radio or whatever platform you’re using and write a review for the show we would very much appreciate that. And be sure to make it official And subscribe so you do not
Evan Moffic 35:01
miss any episodes. We look forward to seeing you on the next episode.