And welcome back as you guys can see I Have a special guest on the channel Today and that is J breit seeing of Minority mindset welcome to the channel JRE can't believe you're actually here Well thank you for having me Congratulations on your excess and it's It's an honor to be on with you thank You I really appreciate that yeah I've Been following your channel for years I Know we probably share a lot of viewers Uh you have um you know a fantastic Following you 1.9 million subscribers Only about 880,000 away from 2 million So if you guys aren't familiar with J Breed uh please um subscribe to his Channel which is minority mindset so for Anyone who is you know maybe not Familiar who you with who you are which I doubt there's probably like a 1% of People watching today's video uh just Tell us a little bit about yourself and What you do yeah so my name is just B Singh um many people know me for Minority mindset but ironically minority Mindset is what I call my hobby uh Minority mind obviously is a YouTube Channel uh podcast where I talk about All things related to money because I Never grew up learning about money I was Grew up in a traditional Indian house Where I was told just breath when you Grow up you have two options you can Either become a doctor or it can be a
Failure and I get to choose which one I Wanted to do uh my parents were very Strict on this idea that I had to become A doctor I knew nothing about the world Besides Medic or how to become a doctor But along the way I kind of found this Entrepreneur roral Journey that I kind Of did in secret I started learning About money management and investing and This whole financial education space Space which was really interesting to me And long story short minority mindset Was my way Of talking to myself when I was younger And giving my younger self access to This financial education information Which I had never learned before and so That's what minority mindset is but my Full-time job uh is I run a company Called briefs media that I started where We cover financial news Financial Education and financial Trends through Our free newsletters and paid Newsletters over there so that's what I Do uh as a full-time job and minority Mindset is kind of my hobby something I Do for fun that's that's actually Something I didn't know I know you're CEO of uh Market briefs uh or briefs Media uh but to say that you have a this Is a hobby and you have 1.9 million Subscribers it's just absolutely Mind-blowing um I don't know how you do It so um thank you for the in
Introduction there I learned something New new myself and so we're going to Talk about a lot of things I want to Talk about you know some things that may Impact the housing market if you're open To this and um just today which is on um Wednesday we had news regarding uh the Consumer side of inflation right the CPI Came in at a gain of around two and a Half percent and that was the lowest Rating since 2021 so I'm pretty wild so I think There's a you know a high High Likelihood that the FED is going to Start cutting rates in about one week From now um so I would love to give your Take about you know what do you feel That the fed's going to be doing in the Next meeting and also how future rate Cuts by the FED um potentially could Impact mortgage rates and of course the Housing market as Well yeah there's a lot to unpack there So yeah the Federal Reserve Bank is Pretty much all but guaranteed that They're going to start cutting interest Rates on September 18th um Jerome Powell Who is the chairman of the Fed Reserve Bank when he spoke at Jackson Hall which Is a big uh Central Bankers convention What he said was quote it's time for the FED to start cutting interest rates and Ever since then there's been a lot of Kind of reaffirming that same thing that
The Central Bank believes that it is Time to start cutting interest rates so That's part one that it is pretty much Set that they're going to cut interest Rates number two when it comes to the CPI dat there's a few points that I want To uh make clear here and this might be Very basic this might I just want to Make sure we're on the same page when we Get data that inflation is 2 and a Half% and that it has fallen from the Highs of 9% or 10% that doesn't mean That the prices of things have fallen Since 2021 what that means is that the Prices of things are still Rising They're just not Rising as fast as they Were before and the reason why this is So significant and important to Understand is what we saw between 2020 And 2023 is that inflation was way up Here reported inflation was way up here And wage growth is down here so we had This huge chunk of time where the prices Of things were Rising faster than the Average person's income and now what the Data is saying is that reported Inflation is lower than wage growth and So everything is fixed inflation is Lower wage growth is higher but what We're forgetting is that we had this big Chunk of time reported inflation was a Lot higher than incomes the reason why That matters and the reason why I keep Saying reported inflation is because for
The average person the real inflation That many people feel is actually higher Than the reported inflation and so this Is why it is so important to understand This because now when the Federal Reserve Bank comes in and they say we Won the war on inflation inflation is Now heading towards 2% inflation is no Longer problem for Americans What we're going to do now is we're Going to start cutting interest rates Well there is a risk that comes with That and that risk is could we reignite This inflation problem right why because One of the largest portions of CPI Inflation is housing and housing is also One of the most sensitive Industries to Interest rates not just that we are in Such a weird housing market still where You have all these people that want to Buy a home dormant home buyers that are Sitting on the sidelines say I can't Wait for mortgage rates to come to five And a half percent because then I'm Going to start buying why is that a Concern because let's just play the Scenario out you list your home for $500,000 for sale if mortgage rates come Down enough and you have more dorment Home buyer saying huh I can afford a $500,000 home now because my mortgage Payment is a lot cheaper let me go make An offer and now instead of having two Or three offers you have 11 or 12 offers
Now all of a sudden you might have a Above asking price home for sale which Could push home prices up even higher Why does that matter well hey you got a Cheaper mortgage rate great but now you Got to borrow more dollars so could that Balance out we'll see but then you have The second concern is what does that do To CPI because if home prices start to Go up again does that mean the CPI Starts to go up again and this is where There's a big question mark because we Don't know where this is going to go and We have to assume I mean I Gotta Give The feder bank some benefit right I mean They got to know something that this is This that you know we're not the only People that are knowing this like this This has to be something that they've Thought about yeah I don't know what Their models are saying about that maybe They're saying that we're we're more Concerned about a recession that because The economy is slowing maybe they're Foreseeing a deeper economic slowdown And people won't be able to buy homes And this won't affect inflation I don't Know but this is a concern that Obviously I think a lot of people had Are having now because if we go back to 2020 2021 when transitory inflation First came around a lot of people were Saying well are you sure it's transitory I mean what does that mean and then of
Course later that year we found out it Was not transitory so uh take everything That the Federal Reserve Bank says with A grain of salt take everything the Government says with a grain of salt Take care of your own finances and uh be Sart with your money that's my always my Advice because I can't get financial Advice I'm just a random guy on YouTube But what I can say is be smart with your Money absolutely I think that some People are thinking and you know let me Know your thoughts regarding this that If rates decrease so let's say 5 and a Half % that there's going to be a lot of People listing their houses for sale Which is going to crash the housing Market right and so I I'd love to hear Your take regarding that do you do you Think they going to be let's just say a Significant decrease in rates do you Think that demand will rise further or Higher than um Supply um or vice versa It sounds like you're thinking more Demand side yeah I'm more on the demand Side because we still have such a low Supply of homes I I don't think people More people listing their homes Voluntarily would cause that crash and The reason why I say that is because we Would need a significant rise in Supply Without a increase in demand for that Price the significant price drop to Happen and there are a lot of dormant
Home buyers people that want to buy Homes that have been priced out of the Market or that are just Waiting and so I I even if price started To come down with the lower mortgage Rates I think that there would be more Buyers out there and the reason why I Say that also is if you take a look at Home Depot and lows In their most recent earnings calls both CEOs of Home Depot Home Depot and Lowe's Said the exact same thing that they're Expecting lower sales but as soon as Interest rates drop they're expecting a Spike in sales why because they have a Lot of Potential home buyers but also people That want to renovate their bathrooms And kitchens and basements that are Waiting for lower interest rates so they Can refinance these remodels yeah so I Don't know I mean I I think EV what I like to say is financial Opinions are like armpits everybody's Got a couple and some stink more than Others I don't know what's going to Happen all I can say is these are the The factors that are happening and my Goal is how can I win no matter what's Happening and that's I really think Where the real kind of wealth is built Yeah I agree with you um yeah it's it's I always tell people it's like Impossible time what's or impossible to
Project or um figure out what's going to Happen with the housing market to uh Because there's so many things that Impact our Market which is you know Rates how many people are going to list Their houses ver sale Etc and so my Advice ever since I've been in realtor For what 11 years is always buy what's Right for you right because um it's so Hard to time the market and I I get a Lot of comments from people on the Channel saying that they're waiting for Prices to decrease and I was actually Looking at the data which actually is Really mind blown blown by this because According to the National associat rors Their data Um they have data goes back to I think The late 1990s if I'm not mistaken but Any case um over the past 34 years There's only been four years in which Home prices decrease compared to the Previous calendar year and that was in 2007 89 and also 2011 and it's looking Back at 2022 we had rates doubling and We also had inventory doubling yet Prices still increased on a national Level um just absolutely mind-blowing so So I kind of worry about the people that Are waiting for or for people who are Qualified to buy today but they're Waiting for a housing market crash that May not actually Happen yeah I mean if you're trying to
Buy a home make sure you can afford the Home I mean waiting for a crash is of Course if a crash happens you can find a Great opportunity right I mean I was Buying real estate in 2011 2012 2013 and That was the greatest Realistic opportunity that we've seen in Our lifetimes I was just fortunate I had No idea that was a great opportunity Because I was just starting my financial Education Journey but you know you can wait around For years because you never know what's Going to happen and you also have Something called The X Factor which Makes it difficult and The X Factor is What I like to call government Intervention because because when the 2020 pandemic hit it was the worst Recession since the Great Depression the Fastest stock market sell off after but Then we went from this market crash Fastest stock market crash ever to the Fastest stock market rally in the History of time which look I I mean I Cover financial markets we've been doing This for a while and I've been involved In the financial media space I love Starting Financial history I had no idea That the Fed was going to stimulate to The extent that they did And stimulus and kind of saving the Economy has become a much easier thing When it first happened or when it
Started happening like 200 2001 when the Dotc bubble burst it was a big deal to Do a little bit of stimulus like it was A big deal when 2008 happened to do a Trillion dollar quantitative easing Stimulus program I mean it was the world Was ending because it was that big of a Deal 2020 we're doing $5 trillion do of Money Printing and injecting so much More stimulus into the economy so and Not to mention we stopped uh evictions We stopped foreclosures So it's very hard to predict these types Of things uh in a free market let alone But then when you have these external Factors as well it becomes even more Difficult so I think what you said to Spot on that if you're thinking about Buying a home you know you could wait But no one knows how long you're going To be waiting you got to accept that Risk or buy a home that you can afford And when you're ready and I think you Know if your goal is to make memories With the Home buy it when you're ready it's very It's a different it buying a home is Different than buying an investment Property and I think people start to Commingle those thoughts where I want to Buy a home that's going to make me a lot Of money well then why don't you buy a Rental property then because then you Can look at the numbers differently
Because when you analyze a rental Property versus the home that you live In you look at it very differently so if It's a home that you're going to live in Make sure you can afford it yeah if it's A rental property make sure it's making You money and I think people start to Commingle those two thoughts which is Where people get really confused yeah Absolutely I agree I think that the best Way is to like house act kind of a mix Of like a house you're living in plus an Investment buying a house I get a Three-bedroom rent out two bedrooms if You can I mean you can use that to Minimize your housing cost and then you Can if you hold the house for a long Period of time you realize the gains of Equity as well so if I was going back to My late uh 20s early 20s I would Definitely house sack that would be a Great opportunity to you know buy some Real estate and have some income from it As well which of course will minimize Your housing payment as well um well Thinkk I know you have minimal minimal Time and so I want to wrap today's video Up um I actually just signed up for Market Bree uh which is your newsletter Um and this is not a pay promotion not Not affiliate affiliate link but I'll Provide a link in the video description Below I love It but uh so it's basically like a snap
Well I'll let you just describe it but Reason why I like it is because when I Go on to you know the mass media if I Want to learn about what happened and Let's just say like CPI whatever I have To read like a long article it's hard to Find out the nuts and B the key Takeaways there and what I really like About Market brief is that you have one Email it probably takes what five Minutes to read and it gives you a Snapshot about what happened the Previous day so I think it's fantastic And so again not a paper motion Whatsoever but maybe you can kind of Describe like you know how that came About and also you know what it is yeah Well first off thank you for reading Market briefs and thank you for the Support uh I love hearing that so thank You um yes I created Market briefs first Uh on accident um because the pandemic Hit I went from making three videos a Week to seven videos a week and I needed A way to stay up to date on what was Happening so I could make videos because The whole economy went upside down so I Asked my team to give me a briefing a Daily briefing and that became then Market briefs so it started off just as A way for me to stay up to date and then Uh started promoting it on YouTube and Then people started liking it and what We do is our goal is number one save our
Readers time but also save a otion and Stay away from the sensationalism Because we know if you go on YouTube If You go on Yahoo finance if you go to Anywhere it's about Clicks in order to Drive clicks you have to have an Exciting title yeah which can be really Annoying and a pain in the butt Sometimes and so I wanted to kind of Move away from that with something that Could reach more people and Market Briefs is one email every morning that Breaks down the economy the housing Market stocks crypto and the global Economy into a fun and weedy newsletter You can read it less than five minutes It's completely free and we break down The things that you need to know um so It's it's a fun resource uh that you Know we created as a way for people to Know what's happening in simple English But also be able to avoid all the Emotions because we just tell you what's Happening in an unbiased way in that one Email yeah absolutely what I learned About reporting you know housing market Trends is that the media can be very Biased and and so reading one report Like that didn't actually happen you Actually look at the data that's not Really like the key takeaways here's the Key takeaway and I think that um Market Bree has a really good snapshot of Regarding what's happening and like you
Said avoiding the sensationalism you see On YouTube as well so I can't wait to Read um more Market Bree myself uh and I'll provide a link in the video Description below for that as well um JRE it's been a pleasure this is first Time you know us chatting um I just Honored that you would take the time of Your busy day to um share your opinion Regarding uh Fed rate Cuts advice for Home buyers Etc so I appreciate you so Much thank you for uh joining us today Thank you Jason congratulations on your Success man I'm hoping to stay in touch Yeah absolutely thank you so much and Everyone who watching today's video Please like And subscribe and also check Out uh J bre's YouTube channel as well I'll provide a link in the video Description below for that as Well I love it man have an amazing day Thank you everyone [Music] [Music]
