9/9: Home Is Where You Hang Your Cash

Noble Capital Radio Hour
Sunday, September 9th
Noble Capital Radio Hour, for September 9. The cost of housing in many major cities puts renting and home ownership out of reach for many Americans. Find out what one organization is doing about it.
00:46:17

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This time tomorrow. Here this. Noble capital. We'll bring you hour where we explore investment strategies for the modern financial landscape I'm your host Chris right Clinton and with me has always are my esteemed co hosts from the environment Jay Newman welcome back to nearly as guys. What's up Chris good morning man as the morning. Somewhere okay. Morning somewhere doing things all the other good somewhere else okay Aaron don't take it it is actually about and sends it is good number lunchtime. Austria it's true I need to engine I'm great it's morning where were airing at that tablets and AM. They got they got so it's morning where we're you're it's morning wherever airing militia listening on the podcast. Which we say things for downloading our podcast yeah it is saying different does it seem to have been isolated by the click somewhere. I like the song of push a solid all right well listen we are the host of the noble capita radio hourly. To talk T today about. And and it's near and dear to our heart that something it's actually has a lot do with our business and what is our business will noble capital. Is a private financial institution Wheaton to focus line. Retirement cleaning private lending and real estate the core in the differentiator our offering to our investor clients. Is the fact that we're one of the largest private lenders in the state taxes on single family investment real estate. That's what we do it's one of our big differentiators if you wanna know more about us in our company he confined his at noble capital dot com. I'm sure he could find us on social media it's. There's little place called FaceBook. You go check this out there is no little place called NC Graham where there. There's a couple of places they can't mention anymore for some reason you know trouble but you can also download these episodes guys anywhere you download your podcasts I happen to use. Apple products so it's a little purple button that would every use download us it's actually the funds we consume this great great chip. Are you know what we're doing something cool this week we have a special guests in the room with us so we have a special guest for noble capital. And I she's actually been on their show it was before but we're talking about who is mrs. Ashley Phillips who's the managing director. And impact of Austin we're here to talk about Austin's of portable housing accelerated things are coming and thanks guys thanks for having me. You know when you. Summoned back I think that's. On advocate that that's right good confidence booster awesome yes but it lost its air here. They say oh man right that the station's news station has like a we days can you get submitting Elaine is that you can suck it. I. Say hey I'm here to help I'm here to serve. As a Iowa may delay ended up in and if you've also been to any of our state of the company's most notably the most recent state of the company that we had. Actually is actually one of our guests and she is on stage was. With us at they're talking about. Impact of Austin and what it's done for the community. But in particular Austin's affordable housing seller so yeah we're talking about single thing residential housing. And really in particular in Austin the lack of affordability but this isn't just an Austin problem. It's happening all around the country in it's happening all around Texas particularly. In urban environments so we're talking about affordability issues. Now we're gonna dive into some of that here in just a little bit you know last week we. We said don't dummy me a profit he was a make me a profit that was the episode name. And do you remember you don't have another I don't know erect a gay listened lastly we talked about things that affected affordability. Because that's going back to me OK okay that doesn't edges remind you is what that is there aren't. Well as it was definitely something important to us and obviously that's easier because this is an important initiative for us. I think we should probably jump right into this thing that we do every single week it's our producer Sean you guys know and love him if you've heard the show more than once you've heard this segment. Every week our producer Sean goes out on the street kinda makes a fool of himself but definitely gets them good information from people out on the street in its in talking about specifics of you know. He's he's accidents and recordings say this is prerecorded two Eleanor dashes ever hurt yourself before on the radio boom. This is gonna be this is unique and as a suspect or that's actually I'll. Gonna say so he he does talked a couple of people but one of those people as you Ashley at the state of the company's so right now we're gonna learn a little bit about what people think about the affordability problem in Austin by we have shown on the street. This is shown on the street. And this week we're gonna go out into the wide world and we're gonna find some people talk to about home prices and cost. What do you think is driving home prices in Texas coast or six. It's hard her first time homebuyers teachers here. Six. Yet so which of the five biggest cities in Texas do you think has the highest median home price break. Coming out. What's which of the five major cities in Texas do you think has the highest. Median home price I would say first. Plus in Dallas why do you think. This is one of the strongest housing markets in the country. I think it has a lot to do take companies yeah. NN that brings along with the what do you think drives. The strength of the real estate market in Texas it's a very diverse. Areas a lot of high tech. Job got a lot of transplants people that are selling out of those markets like. Up in the northeast or in California and they flush with cash in the coming here to do property right here the attack. Rose is really facilitate. The housing there. His name is not really. Going on African. And they are they gonna change the name to Los Angeles. What do you see as some of the real drivers. The real estate market. In Texas right now if you're tech gangs and our girl and you wanna just. Circle company in news and it's definitely the good life does the town to do it I think thousands of the tech capital of Texas. What we are creating here from an economic perspective. It's a very attractive kind of combination. Unemployment rate is really slow you have been relatively more affordable and now we are growing up as a city we're getting bigger problems and affordability. Is one of them people are traveling 45 minutes to an hour one way and if you add in those expenses to the cost of housing almost everybody in our image is cost burden according to federal guidelines how much do you think property taxes play into the housing affordability equation so here's the thing Austin is a majority of intercity when we don't talk about everything population as much of the talk about the homeless population. The truth is that your ranger here. That being impacted by rising property taxes because as of this county jail yeah. We'll we will have to have a combination. Of government and bonding. Innovation there but also. Innovative housing supply power we also thinking about the people. That have called this their home their whole lives are being priced out of this puzzle and all are welcome to come and play. Better or worse this has been shown on the street with a notebook Capital Radio. Back to Chris. It feels pretty good I was gonna start up asking nationally she died but you know clearly get to Schieffer chief backer and Anthony at the end guys that case. In case you don't know my voice. I was unity and yet those good so they would collaborate on Africa almost before we had speaker first Parikh but. So what do you think Blake obviously got a little bit of that thing it's. Some think about some the other things that people are saying you know elected talking about. People moving here ask is what they were discussing yes so I think that is a well. Now that narrative of why it is this way. I actually do know that the transplants that are causing most of the rise the mistress has come and Austin actually. Axes and many other major cities right from on frost and in particular yeah I ask Houston Dallas San Antonio. All of these other cities in taxes. Those ads. Sixteen. To 65% of the transplants coming across and actually from taxes. And only about twelve to 15% from California and that's insisting no we know we had done the guys from Angelou economics over here and they were talking about. California's moving to the state in general yes the piano when you break it down into use just the cities. And it's you know where they coming frantic mother come from the places in Texas I'm sure that's a narrative. That's been playing out for a number of years and this is a brand new or distinct the numbers are starting to catch up on necessarily compounds because it's always been a place where the rest of Texas moved to. Mary it's a script usually go to school of thirty million a year ago and now a certain figure I I think. Probably the most enjoyable part of that shot on the street is that breaking news that that the women dropped their Austin's. I'm changed its name. What was an inning inning give we should need credence. But any and accusing her name is Jim what is just and this is just and I'm not happening for him. You know but I think to that to the to that point it's not just about how many people are moving from corporate status how flash earth cache of the points. You know higher real estate markets are more other markets. One thing that's interesting in the same report and users. Different numbers that are a few years old so it would be interest in what they are today because things change quickly that. Californians that there are net in camera there and coming back transplant hairs around something like 78000 dollars which is not huge. But places like Illinois like 100000. Dollars of the transplants coming from Illinois are actually much more fleshed with cash only the Chicago exactly right so you know and and this is me just tried to give even in that drama or even blame to everywhere in the eyes is for us that it is just a predator around red eye yes spread Elsa Brandi and around right you know it's been going on so long that people that moved here a generation ago are now blaming the group on the people that are moving today. Guilty Deanna technical and I'm it's like a mummy get you close the door and say if these guys that are common man. Right now I've written. If I had ordered debris blowing get back we're gonna break this down a little bit we'll be right back. Listen to talk thirteen seventy anytime anywhere on the radio dot com now. Welcome back to the show where today. We're discussing the affordability. Crisis. Honestly that's what this is turned into specifically for the city of Austin right which is where we're headquartered week. We as a reminder we do business all across state but our our main office is located here in Austin and so this is really an Austin segment today that we're doing. Our show on but you could really talk about the problem in the context of any of the major cities that we. Do our business and in if you're not sure what that is we are a retirement cleaning company worth finance company we tend to specialize. In private lending and more talk about private lending to break that down for just the second. I'm talking about giving someone alone to go out there in either acquire. A property that needs to be renovated or build new housing. In the state of Texas so this is an investment loan we'd provide those loans to these entrepreneur orgies business owners throughout the state of Texas to create new housing inventory new housing stock. That's what we do and that's one of our investment vehicles that are investors get to put their money in. And make their money where we're talking about earning a steady nice income stream through one of our funds that's the cornerstone of noble capital. In we do this in the former retirement cleaning with a lot of our investors so that's what we're all about today. Hey we say your take is that it's going to be in Austin centric show and this is it a little bit bigger. Problem and just Austin I mean let's face it this is the entire State's feeling at this national problem. And I think this is important bring up especially with with Ashley here are presenting impact on the all eyes are on Austin right now in my right. I would say yeah I would say a lot of guys are on cost and it's not all in lots of ways often has been using San Francisco as like you know don't become. You and now. Lots of people will look at Austin and should this poultry are ready. Become. Become men and lots of ways they did it to depend on San Antonio and that's exactly what they said they're like how you guys have party and on packets in. You can do some tweaks and and figure some stuff out backed. Here in Texas all of us all the rest of us Antonio Dallas Houston girls and Austin from this affordability standpoint. You can be off the front and other reasons are on top ten everywhere but there it is. It is a cautionary tale and a sense of how is growing too quick too fast and what does that do what are the present. Rattling in general the cons is transportation. And yes that is the cotton pressure. Let me let me tell you I was at a soccer tournament this weekend and it was in southeast Austin there's not many parts of this new Austin proper where you're gonna see mobile home parks. There's not very many parts if Boston had that in general not even even the surrounding areas but there's one little part southeast Austin and the the tournament was over there was like onion creek fields or something that. Anywhere the traffic. Was horrendous. Out there and it's because that's what most people. It's out now part of the world but it was horrendous it was like no other traffic I've seen in Austin last ten years. Yeah incredible law and if you think about adding transportation costs two year a monthly expenses housing and transportation the two biggest expenses for. In normal household and taxes. So if you it's it's interesting because people always say directly qualified at gossage contract you can afford it. And yet Austin's economy is still in these downtown to zip codes and so people are commuting end. For their work commuting back out for their home you add in the transportation costs insurance gas icons that you're actually more cost burdened. If you were a live almost. So are you guys it's like you're seeing a lot of you were saying don't become Austin. You've already gone down that path during become those guys and I get it I get on the state level I could see the San Antonio is and he's insane you don't go there yes it's too late now for those guys so you're doing is correcting. More than anything yet correcting it and it may be trying to create a trying to make the narrative different like people are saying that ship sailed you guys is going down this path and we can say you know what for some of it there's RD a huge been a huge amount of displacement we've also got a huge amount economic and that there are still opportunities for us to say hey. This moment in time we can do something differently. Christie 28 to your point that we are talk and off. Off care about earlier about code next if people are familiar with what next as it is that it was the the current initiative to rewrite Austin's land development code through right now because code next next in year. We are saying we're not gonna use that it was too divisive that rewrite we are still under and development and that was written to implement 19841984. It's a long time ago we had. Maybe a quarter of the people we have today. So there. Need something different needs and we need to haven't updated in development code and what that does is just as how we build our city how we built our community how we put residential. Commercial all that stuff together and how many people can actually be here from pay them and development. Lost and you know it's pretty interesting if you look back in the political climate in Austin. In particular my fans venue for seven generations have been here for a long time this but I can tell you'll happening in the late seventies and early eighties and it wasn't. Progressive from a growth standpoint than it was incredibly environmental. You know the actual City Council. Was run by political organization predominantly governed by. In so we had significant issues Keating transportation. Bills passed we in fact we basically got nine. Yeah Janet and people back and if you don't know that they won't come but what does it and I found that doesn't work we doesn't work now right so now we've realized there has to be silly to like in a balance and yet exactly there's gonna be a balanced. In terms of responsible development because the people are gonna come. So we have to adults and that infrastructure but the idea that. You're right we're being governed today by something it was written in the early eighties this is pretty. Remarkable in and if you think about what the thoughts words in vs the needs our two day were so far apart yes we are. Yes very tickets are are. And lock to be set on that and and the good news is we have a new. City manager came from Minneapolis. And so the hope is that now and I say. That week happy and warm up full less divisive process were weak and update this code and it can't be a good starting point for our growth. I hope it works out well and I'm not and certainly not trying to make the show politicized or anything but did you I happen to know what the housing allowance was for the new city manager. There's no public record so tell me 300000 dollars. For affordable housing yeah right right direct that it's okay. You can always fearless and median home prices lost 300 and bigger ego. And is this crazy they had to get a housing allowed Stephen make it work and you know he could just get a job like the rest of us but I mean like hey you got a duty gadgets about a market economy right now right so. Kind of strange we're talking about affordability and having those types of problems any news seen in all the league government. So what do you guys have to yet thinks that's OK I am I was gonna throw this out to. I'm just attack on on on Romney's. And they're what he ought to also kind of what are we up to and how can we help and connect with you guys. Now here. I know that we have a a partnership with you yes and that's exciting our our clients let that kind of stuff that it's in our space and in the residential real estate. Market in the business and for from a business standpoint. Where. That that's what we even breed of noble capitalism is Texas residential real state which all started right here in central Texas that. How can noble cut capital get more involved and then even. Reach out to our listeners will look and they do. It to get behind this effort. And make sure interest in the problems we're gonna dive into that the next segment numb and really understand. What you guys do right at impact how how can we help yeah what are we already doing what we do more of rank and so how can we participate in the process. In as Jane said you know many mistake to slowly down the line. Some of our listeners today or our clients DJ on the investment side or on the business owners' side that are out there working on the steps of housing product. Because we we see dilemmas on our side as well right so we're in business so what does that you know what's one of the things that we. I'll take either Ronnie knew him and talked about since the save but we only see. In our type of business when you have a piece of real estate your objective is to do what with it. Get the most value out ice to the highest investing here's the highest I play every single asset high it is and that's literally what is the most expensive thing I can build. On that parcel that the market will bear mountain and that's an ins because you know it's it's capitalism ranked like is if you build the highest and you gonna treat the highest margin and you're gonna make most money that he can do this again I. So that's one of the dilemmas that I think is present in our space and that's why I think that's the discussion. That we wanna get into is absolutely Q how can Wear what can we do here totally. Am gonna make you the answer knowingly get about thirty seconds so I don't. But here's here's here's I'll say going into our next segment so there's not a silver bullet and there are things at that are marked supported her things and have to be subsidizing government supported there's got to be animation across the board and there's got to be just a sense that this is about gaming community. That is what you guys are about security for families that is what we are about as as as a as a group of of concerned citizens that it's all about how. How are we creating. Security community are famous to be here Austin. I like it let's break it down we'll be right back. Welcome back I'm your host Chris Wragge and and if you're just joining us we're talking about the affordability. Housing. Crisis in Austin, Texas and it really is if you vet bill Baer in you're looking at buying a home. Get ready you better bring your best offer your highest and best offer it's a competitive marketplace honestly it's a stern into a circus I mean asking people list houses and get three or four different offers all one time because. There is a shortage of housing. Particularly. There's a shortage of housing in the affordability side you know like it's night and a shortage is 99 is almost nine. Yeah there's almost none so. The average family income for a family of four and cost area it's about eighty K. Most recently. Rule of thumb is that you can tripled act and that's about that map and you can. What a story and every house and you know how many homes are being pressed. Very few you know. Now so the median family and costing can't afford. They would of the median family in Austin is listening we've got a project down here under the threat day again. They get we've got like 22. House has been built and you know that's a great being in their sinking and it being seen to themselves. Thank you. Tebow had to work downtown area you just crushed him told who has close to do. I love it doesn't spun him laughing because it's so hard. It's so true you know like oh yeah here's the solution will just increase your transportation costs decrease your housing costs. But alleges is like yeah obviously Jim Messina. Our oldest current or get a job and me under creates a more economic zones in Leander in where you where your housing in your work and aren't so far apart I get all the state jobs are down and meaner. Yet university attacked the single largest employer in town secular simpler now. Is in county numbers in Texas number one his tail number to use numbers to Texas cemeteries state system that's right the largest three largest employers in all ones that can. Yeah I suffered its. Mr. correct absolutely transportation definitely an issue that. Let's close ally to back up and owner breakdown impact and really interesting with that before you got legal segment that we're terrible OK maybe it is the last time we'll do it. You know where that data was this poor our performance is so forward to her diary her yet this is it so listen up shine if we fail on this and miserably it's over. The president jumping into this this quickly act fast because you don't follow the notes Aaliyah and arrogant out of the Q the tigers from and he can do or are you getting an F on construction reading. As I explode hill that we call this the don't quote me on that were given some clothes in and we have to guess who's said. So this is the which authors said it edition where all the clothes from famous authors. And apparently for every time we get one wrong we have to give our shop our producer our Sean. Harsh on. Our razor shines and it's when he dollar gift cards it's undermine you know Walden boasts a piece superintendent I outlawed and never mind. Where you lastly what do you regulatory ash actually had to go oh my god this is a blockbuster and Amal and he's got the Circuit City Murr bins and the list goes on and you didn't aren't so we have the quotes here Iran nearly ready for the quote answers are yes I'm going to you're gonna read read the quote. All right ready here's quote number one charity begins at home injustice begins next don't work. All right so who's gonna go first charity begins at home. And justice begins next door is that he just said that's right. Let me just tell Google here real quick yeah. Do we do we get to have felt we we Leo we assume he gave us some someone to choose from now its authors said it. I'm gonna say. I'm ready yet I'm in my palm Steinbeck. Yeah. As Dylan I'm gonna guess just because one thing different I'm clinic. And. Yes. A gulf oil assisted those are two answers as lucky in Romney would he got wrong. Charles Dickens to seek instead Allen yeah that was my choice is me that was huge. All right here's an excellence he leaned down and by the way I'd think these are supposed to be related affordable housing will seek. Quote quote number two to achieve the impossible. It is precisely the unthinkable that must be stopped. The two meet up to anyway. I'd say you're gonna go pay me. Yeah there's something in many. I don't know if that the top Tom Robbins you like Tom Robbins like. I doesn't argue yes and he. And the winner is own Tony rotten I'm just kidding Tom Robbins well. I guess Circuit City gift card please yes I think the millions guarantee you rented our last quote. We could have saved the earth but we were too damned cheap. Said Vonage gets a like a person tells the a. I'm on team Romney that we have on what is it. Secretary of Vonnegut. And I guy by the way 'cause literally there's no they gave us a list to choose from on this one so we kind of she's a little bit and still only got. T Wright think's actually yes it hurt the airlock and I'd shine a Celeste and aren't trampled and or Darren were not submitted that they you know way. So we definitely didn't get quoted on that that's typical of this segment well listen listless breaking down tells little bit about impact of break it all down for us in in what's going on. Thank you in fact have Austin is part of an international co working association we are two locations in Austin connected to over a hundred or on the world. The idea. And the mission of impact had a world is to support. Social innovation. Business for profit nonprofit. Conscious capitalism conscious businesses to do their best work. And we support them through incubation and your community through space leadership and all those things. OK so I guess and now it's kind of becoming clear to me like YEE you guys decided TU. Beat host the sponsor. For the affordability. Housing accelerator yes okay so eat yet he so here's a thing of functionally there's a lot of different functions that impact of Austin you can come and be a part of our community from a co working standpoint. We also had obvious about the benefits that come with that but we also. As a as a organizations they what are we giving. To the community how are we supporting the greater issues of our of this area our city. And so we did a little bit of interviewing from different corporations and businesses they would at the things that keep up that night. Whites do you feel like it's potentially hinder and popsicle to your growth and and losses and everybody said our affordability challenges. And the appointment of workforce development and how we are. Growing our workforce and but affordability like. My people that I hire can afford to live here. The culture and the creativity that brought people here where were afraid that urges consumers are actually creating art anymore and actually creating culture anymore. So we said hey. We are they we are masters at incubating animation. I'm here as it normally wicked problem what if we leveraged all of this. Entrepreneurial capital on his animation Austin's mom and four opportunities socially complex issues so we created this. Crazy idea putting on the accelerator and accelerator is just a fancy word for a program that's time constraints that you can do more quicker. We put our resources mentors ideas into treatment process. And people applied to be a part of that process that are focusing on certain issues that we you're like OK if you're thinking about affordable housing affordability and cost and your nonprofit your for profit ears and kind of animation. I don't care what are your legally structured but if you're looking at this issue apply and so we we pick anywhere from eight to ten and and startups are ventures the dozens before we head last year you guys you guys earlier now it was our last call and a host all of Antioch and so you know and so we're doing it again to learn so much first time. Had nine ventures the first time. You guys along with Google JPMorgan Chase Field acts some other Austin and thoughtful forward thinking companies that paid this accurately game. Idea. Will support the operations and the ventures in this process and you had nine dangers that we had and I sense we had nine Adam and so some really cool things came out and it. One of them all talk about and I think you guys actually know about it was this it was a nonprofit and I'm doing naproxen or quotes for everybody on radio. And but basically it's a nonprofit. Management company that manages investments. So this nonprofit and company manages or profit investment and four and for. Workforce affordable housing say that they are acquiring multifamily units. There preserving them they are renovating them and they're tying grants to local wage increases so here's the thing. You invest and that fund is managed by this nonprofit. And you'd actually get to return which is competitive and it asset class. For your investment and that I am real estates. And so you are not only preserving affordable housing and when it portable I mean to our workforce he heard the guy at the beginning singer teachers can't live earners the atmosphere. These are people making between 60% and a 120% iMac I so that's roughly. 45000 dollars to 90000 dollars. They get to actually in the head of finance play did you have the what's another example of another one and one gap and so on another kind of completely into the spectrum there was this. This group that came together through the world economic forums local chapter called global shapers they were like we're open to had to like what why are we what do we have more data to inform our affordable housing policy. And literally our governments and our local municipalities just so strapped with bandwidth to actually have the reporting protocol. More often than the three years that they are required to assist for the hard and it's really hard to create any kind of policy that actually connects. The intent of a port housing to the actual impact of this group gathered Ahmadinejad Austin community data coalition and they got all these data partners and it's. Bringing together really cool bits of information that helped us build. Differently in the past differently for Ford. All right so tell us so we did it widows the initial class now or in the next cohort right were sponsoring and again that's exciting thank you so much that we're we're happy to be apart and I guess to answer that question what what can we do. That's one of the things we can do is we're help. Being enabled. This class that's right so can you missile preview leg was a look at what's that she'd been up to look like right now is honesty we haven't seen him yet right that's that date hasn't come yet. That hasn't so. Applications. Are. Application around his over there actually were actually in and it stayed in Austin we know those with the cohort ruby and they will be. It will be revealed that the public about three weeks we will host that McNabb who's the next class. Of ventures and apps are. And Chris gets to kind of get a sneak peek beforehand and let me know note. Yeah. I'm I'm I'm no good. It would have would have my strong point is my bursting after he had done it so yeah it is Christie no key outside of noble capital or maybe even but he he knows a lot about entrepreneurship this is part of his. Work ethic and student. And so has been a really strong. Partner and mentor. I'm as well for this process has been great to get his perspective. As well I have. Of course and so we're we're talking to the general audience sure on the air here so yeah what about the general public had they get involved would they would convey dude they've. Impact for lack of better words the united Eddie this is bringing with somebody and they're saying this is connecting and really you know what I and it sounds pretty and seen how can I help with that you know what will go between you happen to be a part of that yet. That's great so there's there's the eat the easiest low hanging fruit is we will have a community celebration iMac at the at the end we look at the at the end of the program which will be mark you calendars Monday December 17 at impact Stan thanks and that will be in the evenings we will showcase everything that these group has done over the last three months. And it is usually always kind of an ask an opportunity to get involved when those ventures. Another way is if this is something if you have a strong technical business expertise around. Am starting a business sustaining a business we are always looking for technical experts comfort to inter. And if you know a lot of bouts and housing and development and like this city we're also looking for subject matter experts we have a great kind of cadre of what I say superhero is an expert in the space are always looking for more. That's gotta love the fact that I as a good game on united by two party. Yes what was the date and time again as thank you at Monday December 17. It is beef from six to 830. X 3830. As critical and you know what if you follow noble capital any of our social media will be sure imploded as well undermine. All of our listeners and investors and clients that day come and. Yeah I think we should do think we should share the fact we've got a couple retirement blueprint dinners coming up where we're gonna talk a little bit about this as well so we've got these going on all the time we've got to coming up in Austin on Thursday September 13. And then get on Thursday September 27 these are retirement blueprint dinners we talk a little bit about. Retirement and how to set essentially an income plan for life. A lot about private lending and how that works and of course we sprinkle in some of the impact. Hud initiative and how that could this potentially benefit U. I like it pottery how they gave the man involved Robert I don't know yet. Very simple text the word secure to 313131. That's the word secure to 313131. I like it. We'll be right back. Making talk radio upgrade again somebody has to come out and tell it like it is. Top thirteen seven in the right choice. This is. No capital re. And we're back if you just tuned in we. Been exploring the affordable housing. Crisis was aware agrees in because it really was one of the things dashing mentioned in the last segment that I wanted to circle back line we talked about what can mean needy in. You know household the forward and how much of that inventory is being built in Austin and the answer is zero. A little unions on him out Austin how much of that is being built none of it so Austin is already at the point where musher in the upper court Tyler maybe the upper 50%. That inventories not being created so we are talking about a housing. A fundamental shift in terms of what housing inventory is available in Austin and what that does is it changes the types of people. That are gonna be here the types of people that live in our communities and I changes our communities have. There's a big very large fundamental shift in terms of who is able to live in Austin, Texas so that's a big deal and that's why we're talking about it. If you Justine Danny don't know what we're talking about anyone to download this episode you can actually do that on mine you can find his at noble capital dot com. We can download that entire episode. All right back to affordability housing. Crisis that's is that we're tarmac impact of any affordability accelerator. That you guys have so you kind of give us an invite in terms away at what people can do if they wanna participate in Maine welcome back to date here and missed the second but. On you know I know you're right in the middle of the SE having Neiman. Narrowed down near your your cohort yet rights but what do you think what's next what's the vision for impact of rate or the accelerator on the next round like what do you guys hoping to build upon what's the next thing. Right so. What what we learned so we did two cohorts last year one was focusing on affordable housing the ones are. Focusing on workforce development this idea of you know in twenty years eighty jobs have been created yet how we preparing our work force to be able to economically viable and participate and our communities. So we find that this is two sides of the affordability coin one is. Making. Both sides of the coin so we wanna look at that from two different cohorts and do different. Initiatives so right now word and the affordability accelerator. And the way we shifted at this time is instead of just housing but still. Focused on housing are also edged him in action transportation like he said because these things are so. Aligned when you think about your. Affordability Bert and on a monthly on a monthly basis so moving forward. And went to Boston you know we want to continue. To serve the community and the way status and Apple's so we will probably assessed. What came out of it with the community wants and do these kinds of accelerators around other. Difficult issues where we can debate and spin out other ideas are people can rally around and support. We find out what works find out and what doesn't which is also great information and keep on serving Wear them where communities that's most. Oh like you that's pretty big mission to buy it often and to tackle but. I know you and innocent the other people over there and you got a great team of people asking India we do have a great team. So I passes before and it was you you gave kind of you framed the answered his question already but what what is ultimate success look like in this in the entire initiative. Mean Pakistan in the accelerator itself. What is ultimate success like this is a great brainstorming activity. I don't know I'm gonna actually ratchet back from ultimate success adamant they what is success for me I think that it's. It's creating more awareness about the fact that this is not aid. Each exclusive conversation of reader. You know highest and best or we're displacing everyone like there are. Really strong and initiatives that speak to both creating capital creating money for your family and also supporting the commuting. And making it accessible to a wide array of people. And I do not believe and will not believe that those things are mutually exclusive so ultimate success and lots of ways this is creating more mature conversation around affordability in Austin. Another one is actually spinning out ideas that are practical and applicable and create more units that people nurses teachers. People. That are retired and have a limited income can can live and and that takes a lot of different. People playing and every solution. Not ever solutions going to play the whole spectrum of of people so we need lots of solutions and copper. So he has chosen to replace a great platform for you it's it's. Awareness yet that's who we're looking for the it's the start with awareness and then gets is solution yet critical to get a study one more time and it's on December so data to calendars and write the state down. If you were interest dating you wanna see with the result was for this cohort a warning you need to stay one more time I'd actually it's Monday December 17 it'll be in the evening probably starting around 6630. And we will all. I have lots of fun you'll get to meet all the people that have been part of these ventures it just a little popular part of our community as well. Well decent presentations we'll have some food and drinks advocate. I I like it you know what I think is time to play put him anywhere near mount as we have to come up with a freeze that basically sums up this week's episode sounds simple. It's not. And I promise you it's nice it's each week were from I would an envelope does contain some new rules some type of challenged. Were really trying to make should Iran needs is basically can't cheat because he knows it's a read he's ahead of time. But once they open on the air we have no idea what to expect so. Romney. Item and read it say here's proof that I'm not cheating you can't take me a few minutes or few seconds to figure out what the hell I just read we're gonna we're gonna about to do this thing so here it is. Sum up the episode in any number of words. Over but one of the words have to be exactly. Send them letters. Huge huge music. And this is from battles one of the words have to be exactly seven. Letters. I am going to start. I've got one it doesn't necessarily sum up the episode but I believe that sums up with you guys are trying to accomplish. And I'm gonna say that this. Quote every mission based program needs funding. End quote funding seven letters. Since you're listening pay attention this thing show up given the little love. Oh I get those good looks and running I don't mind boggling the next I a I think shining gave us like the obvious answer without giving us the answer. Okay affordable housing. Is a real issue. Housing. Seven letter word when he could still use it I say you could studies have got to take a bit ignorant. And. So his in my turned artist. A lovely ladies first of all I'm and they'll stuntman who. The politely thing I had a million of them as president I. Which is used it would undo. Did I okay so I at my house and was when I circled on my paper here improve. Squared. And I'm gonna say. There are no silver bullet housing that's again and. And that's true specifically in our situation Austin we know that if there. And now she's gonna do double. Another difficult customer than I am competitive just yeah packaged in chief back. A pillow when I said some than I gave myself an idea so here it is. Austin has stumped for house that. Dumped on that I met housing stumped funding dumped housing funding yet I am up with a perfect. Who would go out working and we just sell the some are browsing it by giving us funding and how to. This is good I don't know we tell you know it's turning into. In senator is stupid and didn't think he's this'll that the U mission statement that you go. Good. We devote the mission statement I am so. Maybe that's a Leno let we honestly really enjoyed having you on the show it's not the first sign on our show before even here and we did its stock lose about. Impact previously so. If you're listening everyone listen to that you can download all of our episodes on line and you can find those noble cattle dot com thinks gash you for joining us and obviously adding your eyes. Looking forward where do you I'm looking forward to being able to see who's in the cooler as and pretty exciting needs serious assaults some of them once last year strong strong group. I've always enjoyed today's show is not too bad about it to you anyway. Utter but I'm Chris I'm Romney nationally and and they continue to listen into the noble capital rate.
READ MOREREAD LESS