Joseph Moore

Like it's, it's cheaper to rent in Austin, Texas than it's ever been because they just build and build and build and build there.

Right.

And so there's a lot of people who bought, who have seen the kind of price they paid go down.

But the psychological benefit, if you're going to be in one place and you know you're staying, then that flips the math, right?

So if you're young and upwardly mobile, keep the mobile part often.

But if you're moving into middle age and you've decided like this is the school district, this is the town, this is the community I want to be part of, well, then that flips the moral math because you're trying to be part of something.

You're trying to be part of the community.

Again, like the 30 year amortized mortgage is the single greatest financial invention in American history.

Take advantage of it.

And it's that's when you can find roots and put those down and have the psychological payout as well as the financial payout.

Well, show me the incentive and I'll show you the behavior, right?

That's not original to me.

I cannot remember who I'm quoting.

I'm definitely quoting someone.

And the incentives on Wall Street are to get you to invest in Wall Street because that's where all of the fees come from.

So you would be hard pressed to go to a financial advisor and say, I'm thinking about putting 30% in Wall Street and stocks and index funds and 30% in real estate and 30% in something else.

And they will tell you that's not wise.

And to some extent, the reason they'll tell you that's not wise is because that's not how they get paid.

but also the market itself is constantly changing.

You know, you hear a lot of times this time is different or this time is never different.