Nicole Friedman
speaker
798 appearances
16 recordings
1 series
first heard Aug 2017
last heard Dec 2024
Nicole Friedman’s voice in public audio — every appearance, attributed to the second.
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But at the same time, there are many millennials who are working from home and are saving more money right now because they're not going out to eat, they're not traveling.
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Many of them have gotten temporary forbearance on their student loans, and so they're not having to make loan payments this spring and summer, and that's allowing them to build up the savings that they need for a down payment.
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And then on top of that, mortgage rates are at record lows right now.
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And so for those first-time homebuyers who can afford the down payment, this is actually a great time to get in the market and lock in that lower rate that could make all of the monthly payments going forward more affordable.
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Absolutely.
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And there's definitely an expectation that this generational wave is going to continue as that biggest group of millennials is just turning 30 this year.
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And so there is an expectation as they turn 31, 32, and the next class comes up behind them that this could be a continued wave of demand for the next couple of years.
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Thank you for having me.
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WSJ Your Money Briefing · Berkshire Hathaway: Collaboration and the Post-Buffett Era · 5 Apr 2019
podcast
Right.
Berkshire is famously decentralized, and so it owns more than 60 distinct businesses, including Geico, Duracell, Fruit of the Loom, Dairy Queen.
And historically, each of Berkshire's businesses is allowed to run totally independently.
Each manager of the business sets their own strategy, reports directly to headquarters.
But historically, there's not been a lot of communication or collaboration among the business units.
And we are seeing in the past couple of years more of that going on, more of the business units talking to each other and sharing best practices.
Yes, so we are seeing some of the units joining in purchasing groups, which they're kind of taking advantage of their shared scale to get better deals on maybe raw materials or travel costs, things like that where they would share a common supplier.
And none of this is mandated.
It's up to every single Berkshire subsidiary, whether it wants to collaborate, whether it wants to join a purchasing group, whether it wants its managers to be in touch with other managers.
So none of it is coming from the top.
It's really kind of grassroots, the units finding ways to benefit from each other's expertise.
Right, so this started in early 2018 when two of Warren Buffett's lieutenants, Ajit Jain and Greg Abel, were promoted to vice chairman, and they now oversee most of the day-to-day operations of the subsidiaries.
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