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Full Show 2-21-18

Feb 21, 2018|

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This is the financial exchange with the very Armstrong and sharks are now. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus give breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks done us. Surprising news out of Washington this morning to trumpet administration indicated on Tuesday. That it is considering allowing more Americans to. The most expensive colleges. In this country and then we're talk about Internet service and the speed at which we receiver in and answers on are the guys new. But we have some of the slowest Internet in the world hi everybody it's very truck with you here. On a Wednesday morning and I couldn't have been more shocked to see this headline trump administration looking at bankruptcy options for student debt. In many of the fourth student debt since the 1970s. Yet that this caught me off guard when I came in this morning I looked at and targeted double take his first I clicked on that was Nancy hello. First I clicked on the like an S and other gonna make it even more difficult you know which which is kinda hard to do today. And then all of a sudden I open it up and I started going through and they're talking about potentially. Making it easier to expunge student debt now it can't get that much harder so. If you look at the data from last year there were 766000. Individuals who filed for bankruptcy. Fewer than 500 of them tried to get rid of their student debts or most people don't even try to this point. And the reason why is that Carter has made it very difficult back in the seventies yet that there was a a cause that says that in now back in 1976 a law. Says that you have to be able to prove undue hardship in order to have your student loans discharge. They never really defined undue hardship wasn't so judges pretty missive look like it. You know there's there's normal hardship that's not undue hardship and so it's pretty much become impossible next to impossible to get rid of student loan debt right now. But the drug administration saying. Hey look this might be something that we want to revisit as far as making it easier for people to discharge missed. But here's a number that I think we should all pay attention to as of September 30 of last year. 22%. Of Americans with federal student loans had not made a payment in at least a year and I can tell you. That the government is not terribly. Stringent on their collection efforts we've had employees who paired not making their student loan payments but the government doesn't do anything to confiscate their paychecks. No and it and the other thing is if you think about it from the perspective of the lender if you are lender and you know that there is no chance at that loan can ever be expunged. What what risk is there do you making that loan. If true if you know that you'll never go away and you can always collect on an even if it takes you fifteen years to get paid on. What what. Risk is that for what is what's the logic behind the president's stance here where it looked like why. I look at and say OK you're 22% one at more than one out of five. They're just saying screw you I'm not pay it and I'm wondering if he's looking at because when you have people that are making these student loan payments as you know track. It affects their credit scored affect their ability to get a job like it it it's a trickle down. Effective is he looking at a from an economics. My guess and look out I'm trying to kind of figure out how this meshes with you know some of the other things that we've seen from this administration. The only thing that I can think of is that if you think of it from just kind of a regulatory perspective. Why wouldn't you allow student loans to be default. Because it's effectively you're saying look there's never going to be any chance at these loans are repaid. Yep from a moral hazard standpoint though you look at it people knew when they signed up for student loans my son borrowed the ball to my son's borrowed money go to college. And they knew what they're getting into at the time of signing your misunderstanding where I'm coming out for months saying if you look at the moral hazard on the side of the banks. There's no risk right now. These yeah you'll never have these. You'll never have a loan default because even if someone declares bankruptcy they still have to pay you Sophia is still carrying as an asset write so if it is if you're making alone as a bank for student loans and yeah you might not get paid it might take fifty years to finally get paid back for but there's no risk to you to make that well in part of it I look at it in say. Paper this adds a little bit of risk back into the system if your bank looking to make these loans because you can't just say that we're back stop by bankruptcy. I'm trying to read the tea leaves here is that perhaps a situation recently these people are gonna pay these loans back anyway. Where we know 22% have made a payment in twelve months and that if that was a mortgage or car you don't Marty reap disaster for post wouldn't. You what do I make it's it's just did he hears he thought stay with me yeah. I think he's gonna suggest that the allowed to be allowed to flush in the bankruptcy while simultaneously. Making the underwriting requirements much more strict to apply for student she that I would be in favor. Yeah as we made a mistake we made as a country we made student loan money readily available we we allowed people to borrow money. To get college degrees in to go to the for profit schools that were scams frankly. This. Effort when I could see him doing this and look how we're gonna. We're gonna forgive or we're gonna lie you know file bankruptcy on your student loans and you have to carry that that's scar on your record it care for the rest your life yup. But at the same time if you wanna go to college and you wanna study. Sociology. Right well. You know you're probably not gonna get a student loan for that if you're gonna study something where the country need say right now the country has a shortage of engineers right up. That you know will will underwrite engineering student loans will underwrite nursing student long because we need more nurses but we're not going to underwrite the cost. The you to go and get a diploma. In in a degree where it doesn't have a quantifiable skill is that eat eat eat become breeding too far ahead though that that's the logically that make sense to me. I think it makes sense part of me almost wonders if it's necessary is in the last year too you've started to see you shake out among lower tier institutions who can't charge premium prices anymore. You've started to see now. In and I can go through knocking at Neiman here just because I don't wanna put him in a bad spot but I can go through and I've seen at least 45 different schools sure that it had to cut prices. Because they can't attract kids anymore. And I it's it's not because people it's not because the government said hey you you can't borrow as much anymore it's because people kind of woke up and said. I don't want to have 60000 dollars in debt for degree that doesn't pay off this way yeah I'd love to educate myself. But not of that cost the united I think you're starting to see you shake out among schools that are not in the top one or two tiers where your start to see. People look at them and say. Yes it's great that you want me their conduct and paid. A price. Talker so the whole question of the day yet to beauty feel like it's gonna be a busy day in our poll question and Mac question is shrewd student loan debt be allowed to be displaced through bankruptcy yes or no. You can gesture vote a financial exchange showed dot com so far 6040 yes. 6040 yes and that's very early it's very early I I think majority people are gonna say no. In my vote would be. Maybe no and unless there's nothing that and I I would say no. He shouldn't be discharged through bankruptcy and LSU start EU what are your thoughts on under ratings in loans league east cedar kid. Hey you wanna go to college you wanna go to Dartmouth. You know year old man has to sign forty's put his house up as collateral or were it's it's things like that. So it if you look at the origin of the student loan industry. It didn't have the risk that it did today. Because if you are making loans back in the eighties or something like that has this situation mystery that the cost wasn't as high it was it was as close to a certainty that it will be paid back as anything out there because it was a relatively small amount of money. In the data showed that if you went to college typically had higher salaries the data still shows that you have higher salaries but not in proportion to how much you spend and so. I think look I think again this market is going to correct anyways it already is I'm telling you there are schools out there in in I've seen them. It's not the upper tier schools the Harvard's that in lieu of the world the dukes of the world Northwestern's the world they can always get people to pay whatever they want because. They have the connections in the in their worth the book is you see what comes out of there. See what a lot of people are gonna say chuck is if you. Start underwriting the student loans. The poor black kid from the inner city isn't going to be the go to college in and that because that's not the case they're not gonna have America have the under. If they're not could be of the qualified first in well. Want dizzy if you underwrite the student loans that it will qualify as a home and does not the money to help protect well if you talk met underwriting based on the parents and I agree I don't think he should be under rating based on how much the parents make is that's that's not what a student loan supposed to be based that a lot of people are gonna objectively why why do they have to study study computer science or writing it the study nursing noted that student loan. I don't have a problem. You CIA if you said to a kid. Hey you can go to college in your you don't have any money will loan you the money and you go and you can become a registered nurse because as a country we have a shortage of her. Just a horse it in the thing again this this is something if you look at how colleges build their classes go talk to any admissions officer. At a school. It is far more expensive to educate an engineer and then an English major and so colleges say hey we need to have X percentage of English majors offset the cost of our engineers. You are going to see you shake up because people were kind of waking up and saying. Wait you're running this like a business you're not doing this just because you wanna educate Mike in English you're doing this because you need to pay for an engineering Q and that's not how we want. To have this being done and so I think you're going to see a big shake up I think it's already starting and the what you're going to see in higher education over the next two decades and is going to be nothing short of a complete upheaval. It in not at the top of it that that those middle tier colleges are going to go through a drastic meaning of the herd him it's. I liken it to what we're seeing in retail right now there's going to be a thirty to 40%. Beating out among the middle and lower tier schools could be. Pay up next rim be joined by Alan Rappaport from the New York Times to talk about one point five million that's right one point five million retirees. We're about to lose their pensions it could happen if you know anybody that. Truck driver worked at a bakery work fervor for stork many of them are covered by. Pensions that are underfunded grossly underfunded Allen's been a great report on that we're gonna talk to him next and the. Financial exchange. Like us on FaceBook and follow us on Twitter that's TSE show room. Breaking business news is always first right here on the financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and over valued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion it will cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities are for two securities America incorporated members in SA BC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Advanced to state claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner -- -- from -- in -- -- -- legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out fishing in Dolan is put together a brand new guide told the top ten reasons to do a state -- minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life for state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help -- -- only 668485699. Or download the -- had legal exchange showed dot com. Arab strong here and I'm joined by estate planning attorney Todd Lipsky from the law firm Cushing and all we're talking about motivation to create in a state plan here's one. How Todd can somebody. Ensure. That an ex daughter in law or an ex son in law is not going to take. Half of my child's inheritance when I die in the event that they got a divorce you know I don't think I sit down at a client meeting. And this doesn't come up. Rate beauty do you bring it up Purdue the clients. I think it's a combination of both but but once you mention if they don't mention that always think about after death toll line and when you mention it. They jump on. One might spell out here that lower divorce is so prevalent I guess that's the pro and here's the worry right. You guys you both you leave each of your children half a million dollars right. And then three years after you're gone they get a divorce. You're gonna lose half a 500000 dollars on a good. And so what we try to do is inside the trust again another family reason to do is they play a non tax reason to do an estate plan. And and we inside the trust we create its shares for the children in we have independent trustee if you will making one decision only. And that is in their sole discretion to make distribution to the child or to the grinch. And that sole discretion provides all the creditor protection that they need from the divorced in the future. I don't mean to lecture but it's a good idea that created state plan keep your assets in the blood line. Avoid having your state go to ex son in laws are X dollars loss call Cushing and all and 8668485699. 03866. Eight Horry 5699. You can download the guide on the web site legal exchange showed dot com. Or call all free and do it now 8668485699. Security suffered through securities America eat member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchange with Barry and chuck is liable and FaceBook and YouTube every morning beginning at ten and this is the financial exchange radio network. There's a couple days ago when I saw a story in the New York Times written by Alan Rappaport. About multi employer pension plans. And we gave Allen called the CP come on the show Allen welcomed the program. So continue for the benefit of our audience they're not that many. Retirees in New England that are on these multi employer. Pension plans can you explain what these are please. Yet if they beat the land where you know traditional media companies. And a band together. That's in the pension plan they opinion in the workers being two over in the ears of their careers. And then you know when you retired and that that. You know over there are aware by now there's about 14100 G. I don't cross country and but a lot of them aren't big trouble but it took it you know pay at mr. shed about that that you do you know if they return in early. So we're or there's the thing that's it I'm Bob essentially because a lot of bulk. The millionaire I agree potential of impacting their pensions are getting. So can you give us an example of the type of work right note truck drivers word one category bakery workers were another grocery store workers. These are it. Structured worker circuit team. That is the apple there was equally. You know a lot of these. It. Did the workers put money into these plans were it was taken out of their paycheck and deposit into these union plans. They did and it kind of similar here and urged 48. And you expect it. And he's seen in a country. He is trying to. That. And they try to eat differently and over the years. You are opting out but now that the administration. But it would. Our problem where. That they stabilized. Oprah watcher. Could build that and your. And but these are. What they are in use in these are private sector plans if you layering in the public sector deficits. You're talking about what seemingly would be an insurmountable. Amount of money in the private sector figure talk about 550 billion. But if you layering in Illinois Ian. Rhode Island Connecticut you know all these public sector play you're talking about multiple trillions of dollars. Exactly and you know potentially. Very dramatic consequence for the you Britannica. Quit wow but these people are Oprah and her car. That's been a lot of spending. There. A car or. Are going to be very difficult we're in the government that you and I unit Alka. Particularly about party it's Eric what is the bailout. You know right now we're trying to work. Our backward nation. Is definitely the rest of the at the attention that it but it was able. So on the truck driver and it on the sixty year old truck driver and my plan goes bust. That ten years from now do I lose my entire pension too I lose half of my pension to a lose two thirds of my pension glee with which. What is the plight. Of that retired blue collar worker whether it's construction truck driver baker growth restore. Are they completely out elect as they still get their Social Security check but it sounds like they're losing a big chunk of their monthly income. Or whether whether the government equal EV EP which is the insurer and potentially. Those that happen you know and now that there are ears. In you'll probably bet that worker would get a Porsche. Does that that it is pretty picture in our code but the problem here that dominate them. Happens seven at the problem. That it is now that they're becoming a but in the but he multi employer pension plan. And now he. It's senior now that happen. It isn't. Is this gonna hasten the move towards 41 K plans Allen is is this gonna. Is this going to be the impetus for both public sector in unions to say hey. Enough of these defined benefit pension plans are guys are gotten screwed their did not getting paid. You think we see even a more rapid migration towards for a one case. Abducting. Get up that part of the problem will be there in the even if it. Out of them lick them but there are built up the east. There. You know that it is part of the solution but it sort of been part of the problem for the people. It has Allen thank you very much for your time we appreciate. Alan Rappaport New York Times I mean this is. I've been the next big financial crisis. Facing the country. Are these unfunded pension liabilities because. We're talking about these union plants this is a drop in the bucket when when you factor in the state plans and things like them that it's it's absolutely massive and the problem is one of these plans the way that they built their models was based on the growth that we saw in the fifties and sixties and they said hey we can grow and will project eight or 9% growth in the in the markets and that's how -- would be well and also -- 9% growth in the number of truck drivers paying into the plan yes and and so that the problem is just that when you guarantee a benefit as opposed to simply guaranteeing your putting the money and all of a sudden you've become beholden to a whole different set of rules just because if the growth isn't there you either after raise taxes -- cut benefits in order to make the math work. And so you know you look at this you certainly understand. There's no easy fix to this. Part of it you know I was sitting there and I was in a case of you say okay it will allow a bail out of these plans but then no further contributions afterwards the plans effectively dissolved. But then you also create an incentive for the company to mismanaged the plan is then they don't have any skin in the game themselves so the big question is do you build these people. I think what would not panic on Tuesday say look whatever if you beat company requests help in paying for one of these plans in effect says look we can't deal with that. I think the big things to say look the government cover 50% contribution. You always have to cover the other 50% of current ones and in the end you pretty much say there's no further contributions into the plan and that's that's the only way I think you can get there like. It's a tough one because it's in Dallas do you tell an eighty year old at their pensions being reduced from 3000 a month 2000. I don't think you can do that. You know that's what we talk about. We always like I hate to say but it's but we my generation because this can always liked like why shouldn't my generation pay the penalty we always like to rip on the individual who doesn't. Pay up their contract. I think we have to treat accompany the same you know the company doesn't honor their contract we we have to treat them the same way years so it's it's about us. It is a mess hey where are the most expensive colleges in the country. When we return we'll let you know don't forget to participate in our poll question. Regarding student loan forgiveness it's on financial exchange showed dot com. Like this on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Hi this is Barry Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through. Acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should talk we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention that your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me call 803934001. That's 803934001. Or you can connect with me online at Armstrong advisory dot com. Securities are for the securities America incorporated member Finneran SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. 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Business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log on to their website its US VI EDA dot or best US. VI EDA dot or. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go off from -- in -- -- legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly you're sure to miss out fishing in Dolan has put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life -- -- call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just like Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help -- to call 8668485699. Or download the guide at legal exchange showed dot com. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with. Plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explain these changes and how old that new law affects you call right now feel free guide 803934001. That's 803934001. Or download it right now at our strong advisory duck counts. Dirty suffered two securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Now flown mostly watch a look at the market's performance so far today until Darian jog right here on the financial exchange radio network. Mike Armstrong joins us now for Wall Street watching Mike start with the Advance Auto Parts that an earnings beat the revenue was up has stock doing. Stockton big today it's up thirteen bucks a little bit over 12%. It's been a pretty rocky you know twelve months this company is it has hurt him most brick and mortar retail on their stuff a lot of their revenue comes from auto parts sales which is increasingly going online back. In spite of all that they have very strong quarter. Beyond earnings beat on revenue as Allen's stocks that big. Start a little bit about rent the senate is a company that had a nice twenty year bull market until about 2013. But the last five years have been a real challenge them lose about fifty to 60% of their value how are they doing today. Yet another top. Top quarter for an dissent they lost 41 cents a share which was even worse than they were in even worse that they participate either expected to lose money but they lost more than anticipated their revenue continues to beat down and I'd just have really really tough. Business matter this campaign navigated its. You know pretty tough decisions in the past and they again brick and mortar retail struggling year and that business model of renting don't just does not seem to be very popular right now. Saturday. There and looking at several cost savings opportunities one highlight the pointed out on the call so I would not be surprised which doesn't store closures over the next that coming six. Always talk we hear them talk about cost saving opportunities in a bullish economy Mike thanks for the time. Michael Armstrong with Wall Street watched our poll question has to do student loans we asked the question do you think. Student loans should be allowed to be flushed in a bankruptcy proceeding currently there are not very few student loans are flushed ever in bankruptcy. But that's our poll question because the trop administration is floating the idea. Of expanding the eligibility for student loans to be dissolved or dismissed during bankruptcy. Tucker so what's our poll results of that poll results so far 35%. Or listeners are saying yes they should suit stepped my shifted. Since half an hour ago and a 65% of saying no. They should not speaking of student loans we have a list of the most expensive colleges in the country. Tufts University located in Medford Massachusetts coming in number seven on the list number seven annual tuition is 54000. As before you include books room and board and doesn't seventy current. Yet in a ball parks are 3000 dollars for years. Number six is Franklin and Marshall clocking in at 54380. Before books room and board in Trinity College in Connecticut company at 54772. In my kids have gone to two of the three that you just mentioned those that make you feel. And they are good. I like I got rinse. You know all the money was rinse that in my wallet what was there and go to University of Chicago which was up 54 25 and Harvey Mudd College commit 54 eat 66 in third place. Vassar College coming in at 55 to ten in second. In the most expensive school for just tuition in the country is Columbia University coming in at 57208. Dollars so how many of these kids actually pay that. Lee because I. I remember when my kids went to college in all of my wife and I were written that check but I then we would hear while. My kids only pain twenty ranked as the guys that are scholarships are need. Depends on the school. OK I know what I pulled some of these up beforehand that the justice Tennessee what they looked like Columbia about 50% of students received some type of grant money. So yeah grant is that the same is alone or they'll now but that's that's just grant money so then you factor in loans and it's probably about 70% of people receive something. To not money off that sticker price at Columbia. If you go through some of these other ones University of Chicago is very similar. They're all somewhere between kind of fifty and 70% received either grants or loans and ordered offset some of the tuition costs or work studies things like that and we cover story about Harvard having enough money to not charge tuition ever again in their endowment yes but one with a do. And kindness of their heart. Carrier right Brett. I guess that's not in that now that that's not part of it like an agenda to it that there's if you look at. If from just a an investment perspective in that mean you know investment as far as you know that the pay off but student investment. A student who was going for free you know if you've ever wanted to know what has to pay you might not get students are as engaged because they don't necessarily have any skin in the game. It could be something where he says he just took the smartest kids and said you're really Smart really comfort not. If priority is you could I mean look at that they already do that that. A lot of the schools it it depends when you are addicted child when they TE had a kid whose gift. You do every once I get to the schools now everyone's gifted these schools I mean it it's. I was kind of middle to bottom of the packet arms. You know like you like. Every once Smart that's the thing is like when you stepped foot onto these campuses last market it's not that you know everyone's good at the same thing everyone's just really took its conflict. It every one just has something that they are ridiculously talented. What is five G. Five G is the next. Iteration of effectively. Mobile broadband OK so high speed wireless Internet as we have forgy on our phones are right I see the little forgy current iPhone four G is what we have today and so far IG is the next iteration it's a completely different technology. And specifically. It's a different way of land of radio frequencies. That is able to produce higher speeds but it operates over shorter distances in all how much. Higher Ed how much faster. That's frustrating very tentative at times faster and fifty via depending on the location so is this. It is my phone now gonna say five G on it when it comes to Boston your phone's not enabled for five days after that correct. Device so there's no phones that can actually operate on five like that that field take advantage and what are we gonna see that to prop up this year. It's just the networks are big enough right now so you start to see the five G enabled phones in their money can be a couple out right now it is in this five G how were also gonna get Internet service in our apartments in our homes potentially and in this gets into the difference between five gene forgy so I mentioned the five G-8 operative for shorter spaces. But the other issue with five Jeep is so forgy technology can go through some walls and give debris and stuff leaves and things like that. Five G can't because of the frequency and operates so. Five G. You have to be able to go line of sight tennis through a window when you go through panes of glass but it can't go through. A brick wall so when he gets in my house would have. It'll go just did your your router will kick it out just normally like it does today but you'll have a cable going into the house but the problem is like you have to deal with trees and things like that so if you have a tree that grows and blocks the five G transmitter. You gotta trim the tree otherwise but. In these cities is this going to be a boom and the figure that you should have less wiring. In these big cities think about New York rate if you get five G. You have line of sight between all these buildings most of the cost when you're in a big city and is inside the building not outside because it but. It's this is going to be more beneficial in rural areas that right now don't have access mocha. Because the cost to let's that you need you know throw line in. Two. You know one house in a rural area too expensive to do that. Whereas if he just Amber's gonna put us on the telephone pole outside of your driveway and vehement in. Boom you're done in five minutes you know you don't have to do anything there. So it's going to be something that has an impact I think it's going to have be bigger impact in a rural areas that have been underserved with a starting to roll it out this year ranked AT&T has their their first three cities named now. Two of them in Texas Dallas and Waco now in Atlanta is also going to be on the list those are you know Dallas and Atlanta are huge cities Waco is not a bad sized cities to beat these are all to speak hopes for AT&T that's that's why the role and then horizon starting out on the West Coast. Verizon starting out on the West Coast it's gonna take probably two to three years to get you a good coverage in most of the major cities and so is this what will have on our home so woo lake will my house. In the suburbs the five G enabled or will I still have a Verizon bios line coming in because that's how I get my Internet sir you know. It really depends if if the infrastructure guardian place for fire it's my guess is you'll probably stick with files but for anything new has remember. Fire still is this is faster than park system. No this is faster than other wireless technology bios it is if you're running existing fiber that's our delayed then you don't really need this but for anything new to get a higher speeds this is where I think you're gonna see this coming in. Folks a message from Armstrong advisory group last November Armstrong advisory group gave away guide that outlined the seven signs. Opening of an impending market correction and the signs included rising interest rates. And overhauled equities as we've seen over the last week those two issues of at a major effect on Wall Street's recent performance is the worst over. Time will tell but there are a lot of people who were an easy about what they are seeing in markets and if you're one of them. Let's sit down and review your investment strategy if you're working with another advisor. Okay come in and get a second opinion it'll cost you nothing and you might learn something about your portfolio. We've been helping listeners with their financial planning needs for years. We'd like to help you to so called today instead of beer free consultation. 803934001. That's 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. I saw yesterday the Louisville. The basketball program must vacate its 2013. NCAA title. What what's the significance of this note and actually is well able. Financially that they've there's some stuff that happens but they eat the images it like. You can't say the game didn't happen yeah but financially. What the NCAA is making them do actually is they're making them give back revenue that was earned in some of these years and as a result of tournament appearances so it might be up to twenty million dollars that the University of Louisville has to give back. As a result. This is where pitino illustrate yeah. Doubt do the players have to give back their champion because they would all get a rain break we've got to give those back I know that the banners coming down. Yeah it is yeah the banner asked to come down in the in the facility. That's kind of been Ers. Now certainly I mean you know to it's been gone for years at Louisville right what was it was this is all related to a sex scandal. There were few different things going on yeah there there was. The recruitment thing latest weather there recruitment thing was a big one where the they had an assistant coach that would hire you know strippers and so forth and escorts for PO people who were put his players for the that the prospects who were visiting. And then it turned out that the money from that was coming from the fact that they were like taking bribes from. Agents and things like that it was just one. Isn't it devious involved in this do with and indeed it's like funneling money I think there were some Adidas thinks executives and ball out it does it it's that. Pitino got suspended for five games but then. More stuff came out in and yeah it is just economic thing. Thanks that he resign or be fired he got fired he has heard he's now suing the school for 37 and a half million dollars for and unjust firing because look name is mud and he's never work again he sold anyways he's like close to seventy thing I wouldn't shut the door immediate thing but I think coaching is done. Even immediately and ED toxic in this environment today. I turn on the TV. For a little while I am not sure he's Smart guy in terms of coach Ambien and turns are recruitment I'd I'd think that his name is toxic today. Up next will be joined by David silver from Morningstar stock talk is next from the financial exchange. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to view this as the financial exchange radio network. Hi this is Barry Armstrong and I'm speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business they have a tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of the EPA. This is a program that's. Fully approved by congress has been in existence for about 45 years a we have several companies that are doing that currently and we effectively reduce federal income tax because we do Ameritech's system where we use of federal flawless with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us that we cut tax rates if you're. A business owner looking for tax breaks talk to the folks at the US VI economic development authority and learn how you can put incredible capital back into your business log onto their website its USD. IE DA dot or best US. VI EDA dot pork. Hi this is Gary Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Her FDIC a minimum Alex fees may reduce earnings rate subject to change without notice and may change after an account is opened hi this is chuck and Mike from the financial exchange we're here today talk about some of the changes that are happening in the tax audit recently passed at the end of 2017 what it means you in 2018 and specifically Mike. High net worth individuals one of the biggest things that changes are some of the rules about gifting as well as higher rate at 41 K contributions how much do people put into a 41 K plan. Yes so back into seventeen that limit was 181000 dollars per individual that number is going up slightly this year for 2018 is to be 181500. And don't forget if you're over the age of fifty you have an additional 6000 that you could put in there. Totaling 24500. However on the higher race side nothing's changing you can still put in 5500. In that IRA an adamant did not go out it's really about the employer sponsored plans. For this one eye on the gift tax side of things for 2017 you can give away 141000. Dollars per individual without filing any sort of gift tax return in 2018 that number is also going up to 151000 dollars up here as we've seen the bigger changes are definitely on the corporate side but there are some small changes around the edges on the individual side that take advantage of can be significant. Folks this is a free guide available for Armstrong advisory group it's titled how tax reform affects. High net worth investors and it's easy to get all you have to do is call 800. 393. 4001. Again that's 800. 393. 4001. Or you can get it on line. Armstrong advisory dot com once again. How tax reform affects high net worth investors 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services overthrew securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. The same video adds ten pounds. But don't tell Berrian Joakim the financial exchanges alive every day on FaceBook and YouTube. This is the financial exchange radio network. You might want to think about relocating your business to the United States Virgin Islands can reduce your taxes by 90%. Personal and corporate. To learn more and receive a free port call 855622. 3634. Write it down 8556223634. Joining us now on the line is David silver for morning star here to do little bit of stock talk and David thanks to come and all thoughts. Absolutely so David let's start first with Burson materials what exactly does this company do. Yes Lou well on a Lou the industrial sector and with the down back who are 25000. Today. I've been looking gorgeous but I would call under researched. Areas. The broader industrial space. And I've come across. The electronic materials space and these are the companies that work with chipmakers like Intel and spam on. They work was semiconductor equipment makers like Kla-Tencor. And yes that now photography. And they kind of helped them make the next generation of chips as semiconductor chips that are pastors smaller. And up perform more reliably as they felt like guesses based so specialty chemicals cleaners abrasives. Instrumentation. And pulling equipment. Pretty much anything that the chip makers sort of big semiconductor equipment makers to require. In terms of you know where you see the biggest growth for them right now is it just based on the overall growth in the chip industry. So interesting question I would divided into two. When you think about there's a lot of buzz words you're going to think about things like the Internet of Payne Stewart. Industrial automation. That that's striking I guess what I would they overall general demand for chips double tight. However. One reason interest in the electronic materials. Of Specter. Is that there's some interest thing. Technology transitions going on inside the sleeper. And what not that actually requires incrementally Maurer. Products services on this. These company. You may have heard the next generation memory chips that goes by the name three B and and that new architecture and design you know requires. Greater amount of chemicals and cleaners to to produce. We stay the same thing for logic chips lose is that in the name first and that is called. But. Also at three B type of architectures so when you scale up from two dimensional three dimensional. Architectures that and metre levels. Chipmakers are involved with. You need a lot of specialized products and services that's where companies like burst in materials. Come into play. What's the potential downside for company likeness. So of these solar technology and intellectual property company's patented and proprietary products and processes. Those two things I would say is one thing would be if there is a general downturn in the chip industry. You know which has happened in the past that but we're not seeing it. Here. That that would be a general down there you know for it is to group and for companies like there's been materials. And then pollsters say it's somebody comes along and built the better mousetrap. You know their customers are that a flock to the best. Solution the best product. Says the challenge for percent materials and a couple of other companies attract. Is this state right on believing image. And but what the chipmakers are doing and make sure they're there products and processes. What are required. Are good David thank you for the time today we appreciate it. Allred thank you. As David silver from morning star in the company we're talking met there was first soon materials the ticker on them. You wanna look them up by your own is BS. Am pretty buys something like that without having technology expertise I don't. You know PH I listen to it being a lot of sense of sound logical. But I'm thinking to myself I don't understand. The technology that he's referring to excite I would be hard pressed I'd buy things that I understand it for instance we we took a position. In Wal-Mart great I understood it in day and just immediately dipped in price when they Celtics well I get that and ended a night. This week we took our position yesterday. And the logic was. You know the their they're growing their online business they missed the boat there late to the day in the race. They're screwing up this whole curbside pick up on groceries but they're still I understand the business at the red right and that's. That was that part of what motivated me take that position in company. Hey when we come back but it talked about why Donald Trump might be open to a 25 cent per gallon increase in the federal gas tax. That's our next topic. From the financial exchange rated. Hi this is very Armstrong and I've been a financial advisor for over thirty years and I'm looking to grow my business through acquisition if you're financial advisor who may be considering retirement or simply developing a succession plan for your clients we should tuck we all work hard and if you reach the point where you're looking to the future call me at the Armstrong advisory group were regional firm with offices throughout New England that employs a solid stable of young advisors who understand the service and attention to your clients need and deserve we will consider transactional oriented firms as well as registered investment advisors if you're adjusted please give me a call 803934001. That's 803934. Zeros or one or you can connect with me online at Armstrong advisory dot com. Securities are for two securities America incorporated member Finneran SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated if you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online -- collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired as he ran technology to Obama called this he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information at 78164186917816418691. Or zero rent dot. Net advance to stay claiming has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go up from Cushing in Dolan post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from the high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life a state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com fishing in Dolan has been helping families just play Georgia Thursday blaming for more than thirty years give them a call at their free guide and let them help YouTube only 66848569. Guide how tax reform. Affects high net worth investors and Mike one of the biggest changes that we see is in the federal estate tax on what happened to this number as a result of tax reform. Sure certain 2017. You can give to five point. Instead of five point five million you're now looking at eleven million for an individual and 2.2 million for a married couple so this is really impacting very few individuals. I mean in the aggregate for. Americans these days and remember that's a pretty hefty tax rate if you get hit with the estate tax you're talking upwards of 40% of that value that you try to pass on. So the federal limit is doubling the five out of the six New England states have state estate taxes as well the most restrictive one Massachusetts that number starts to million dollars its guts and guy you know it's not just the amount over a million dollars if you go over a million dollars masters as you paid state tax on everything you have but you know going through the list Connecticut as an estate tax of two point six million Maine eleven point two million like you said Massachusetts one million Rhode Island is about one point five in Vermont's about two and three quarters the only state knowing the without one is New Hampshire folks. These are questions that you need to be able to answer if you're wanting to pass any inheritance down to your errors and so this guide how tax reform affects high net worth investors is available for free. All you have to do is call 803934001. Again that's 803934001. Or go to Armstrong advisory group dot com 803934001. Security suffer through securities America incorporated member finreg SIPC and advisory services are for through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Precious metals are Smart meaningful investment one ounce and 110 down silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back a step ahead. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remained strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if your high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now at our strong advisory ducked out. Securities are for two securities America incorporated member can -- SIPC and advisory services are pretty securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Assuming there are better than one that everyone knows that that's where offering two gallons from one ticket. You can add cash and wild cat mounts in the same day unless the they're just twenty minutes apart in the number ones out in the heat. You know anything. Once again WR downhill this winner at added tax and wild cat nap. Cricket dot com for more information hi this is -- Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals and they've got another one that is surely worth your time to check out leader bank is offering -- 25%. Annual percentage yield this is an online product only and there's no minimum balance required so log on to leader bank dot com and sign up today this rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates changed it. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. And me. This is the financial exchange with Barry Armstrong and shot so I doubt. You're exclusive look at business and financial news affecting your day your city your world and stay informed and up to. About economic and market trends plus breaking business news. And now the financial exchange with the Mario Armstrong and chunks. The drug administration is making a couple moves on the economic front better surprising. Many members of the. Conservative Party known as Republicans. First one is the administration indicated on Tuesday. That it is considering allowing more Americans to be race student debt in bankruptcy. Well if you're not familiar with these laws they went into effect in 1973. Which basically says congress made in the law that said. EU effectively can't dismiss. Student loans in bankruptcy proceeding judges all over the country. Refused to now allow. He had 700 and something thousand bankruptcies last year 766000. Fewer than 500 actually tried to get their loans discharge them. But on the other side of that trade. 2122%. Of Americans with federal student loans had not made a payment in the last year. I think with the president is trying to do here is say yep we're gonna do allow you to flush student loans through bankruptcy and then simultaneously. He's gonna require very strict underwriting for student loan that's my suspicion. But we have a poll question and talk or so when he threw the poll question out there. A big momentum for just me yeah out poll question today on now financial change dot com is should student loan debt be allowed to be. Discharged through bankruptcy in 32% of our listeners are saying yes. 67%. Are saying no is that 32% of people that are delinquent student there probably maybe I think that's brilliant sign me up up a good to a call slate audible on what we're gonna go through next there was a a hole that was just released from gal regarding self driving car yes and this I find rather interesting. The highlights of 54% of Americans say that they are unlikely to you self driving cars. 59% said they'd be on comfortable riding in them in 62%. Said they'd be comfortable sharing a room with them. Then you know like I've struggled with this that my dad needs a new car and he's approaching eighty years old. And you know he's dead some vision issues in navy's a little bit hearing loss regained like typical he's a healthy. Late seventies yeah definitely. I said to get a day accidentally go look at that Cadillac that has the self driving feature all GL. You know you'd you'd think I just personally insult you know because it the there's a lot of people. Bad especially. I tackles seventy year old elderly and you can put. LC unit called yeah yeah the slightly he's setting it is retirement age. Well when you free at seven and I think Haiti's sale orderly way and Daniel 78870. All drives open OK okay Greg. But he drives all the place right and so you tell him eighties the new forty you know go go in and take a look you know. Really resistant did they give some breakdowns also demographically and what about any technical people so 66 plus. Only 12% are likely to use the 69%. Unlikely that'll likely that should use like. What's interesting men are more likely to use than than women. 20% of men only 22% of women and education also played a factor if you had less than the bachelor degree 62% said unlikely to use. If you got a bachelor's degree or higher only 39%. And I'm likely to use. Have you read this conversation with your parents and my parents that we were yeah apparently locally and we don't have to have morally week you know will be able to get around on her own. I get it again Andy Dalton where voters are saying there's a lot of people you bring it up with but might ethic my mom would go forward immediately. Is my dad is the problem I'd go over in May not know any. But I just saw that came out Seattle interest and thank you return. And let's talk about why. Donald Trump might be open to a 25 cent per gallon increase in the federal. Gas tax I I. The more I read about his position the more in favor of it I become. All the factors that you didn't. With what we have raised the gas tax since 1990 through. And image in inflation adjusted terms it's actually gone down and then in terms of average fuel economy it's gone down further. So what you have right now is a federal gas tax that simply has not kept pace with. The amount of spending that we need to do in order to maintain our roads bridges there. Fortune trained as that's the Genesis of his position he wants to rebuild America but he needs the money yes. Right and so 25 cents a gallon. Gives you a lot of money. For rebuilding the roads now you've got Merrill we talked to Larry Kudlow very briefly last week he was opposed to leaks in I don't know that's a State's issue. What do you get it through a state. Elite Massachusetts tried to donate some of it was going to be done yeah I mean it was an abomination you drive on route three all the time it's a disaster Amman 95 and down Connecticut frequently having their robes. In New England anyway innate maybe not maybe the rest of the country the roads which are no I was just down in New Orleans for the weekend not terrific and the roads terrible down our infrastructure. Is embarrassing. And it's it's it costs us money I'm out of time elect potholes here and obviously that's obvious that sometime out some of the designs in this state alone out. Are an atrocity. Try to circles the drain tree split is a joke yeah the guy must been blind designing and I mean it's just needs some things like that needn't overall or an extra lean I just. Like the fact that you can be convert three north route 128 salad 293 north like the same these shots I do it every day hearing what direction might actually go right now are you go west everything that makes cents. Well here's the problem he faces. The Ian a lot of the big tax cuts went into effect in the estimates are track that. If the past this 25 cent per gallon tax that could eat up 50% of tax. We'll look at eventually got to pay for something. Otherwise here's what happens if you just say hey we're just gonna spend more and and never pay for it but eventually get to a point. Where people say look we're not going to continue lending at the same rate that we have previously. And what happens then is you either default nominally where you say look we're defaulting. Or you just keep paying lower rates and you see massive inflation and you default in real terms where yeah there's no default but you just lose 30% year. Hurts and I went through the New England states. And I we we tallied up what it would cause if it's been if you live in Maine and they raise the gas tax by 25 cents it would cost you 366. Dollars a year. If you live in New Hampshire. Raising the gas tax by 25 cents would cost you 333. Dollars per year Vermont 302. Massachusetts. 264. Dollars a year has most of our population is concentrated in cities Rhode Island only 220 because it's a small state. ID. Connecticut 267. Dollars a year New York it would only cost New Yorkers hundred needy dollars a year yep that's the the impetus and and what his position is he saying. Okay yeah it'll take it'll eat up some of the tax cut that you just received on January 1. But it's also gonna create a lot more jobs create a lot more construction knee and make more money. As a result. Well it in the thing again you at some point you actually have to pay for these things now. They sometimes it's it's like your house right right no no one likes going to Home Depot over a week in and saying gee I have to spend money in order to make sure my place doesn't fall down. You kinda have to duplicate at some point you eat you either spend a little money now. He spent a ton of money later in the problem is we're kind of getting to that ton a money point is we haven't spent the money in so long. On eight and if you don't do it via a gas tax. What they're gonna do socket too loose with some other kind of predict it'll be arrogant property -- users who told sales guy you know it's like you you're going to see it somewhere noticed the money I've been told along the lines of there's no free lunch and there are no free roads either there in the you have to pay the people who build you have to pay the people who made the equivalent. At some point you have to pay for these things and we're kind of getting to that point now. Here when we come back Rick talk about why there will never be a middle class in Boston that's our next story on the financial exchange. The financial exchanges lied on FaceBook can you do want to Berrian chug discuss the issues of the day and see which one smiles the most. Days who's the financial exchange radio network. Hi this is very Armstrong last November my firm gave away a guy that outlined the seven signs of an impending market correction those signs included rising interest rates and over valued equities and as we've seen over the last week those two issues have had a major effect on Wall Street's recent performance is the worst over well time will tell but there's a lot of people who were uneasy about what they're seeing in the markets if you're one of them then let's sit down and review your investment strategy if you're working with another advisor that's fine coming in get a second opinion it -- cost you nothing and you might learn something about your portfolio I've been helping my listeners with their financial planning needs for years and I'd like to help you to call today and set up your free consultation at 803934001. That's 803934001. Securities are for two securities America incorporated members in SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week Todd let's do a partner go up from Cushing in Dolan post illegal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes estate planning has many benefits but if you don't plan accordingly your short miss out. Cushing in Dolan is put together a brand new guide told the top ten reasons to do a state claiming minute you'll find strategies that can help you navigate this complicated process while learning what to do in what not to do when it comes to setting up your life the state call now for your free copy an 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just like yours who Thursday claiming for more than thirty years give them a call at their free guide and let them help YouTube only 668485699. Or download the guide at legal exchange showed done. Com hi this is Gary Armstrong and I told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering an. 25%. Annual percentage yield this is an online product only and there's no minimum balance required to log on to leader bank dot com and sign up today is rate may change without notice that don't delay log on to leader bank dot com get all the information about this great offer and sign up today before the rates change. Free online banking with leader bank's new. 25% annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now that's leader bank dot com leader bank a step ahead. Promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with. Plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if you're high income earner this new guide will breakdown the changing tax brackets how the bill affects retirement savings as well as what it means to the federal estate tax let my team the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory ducked out. Securities offered to securities America incorporated member finreg SIPC advisory services are with the securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. If you missed any part of today's show not to worry go to financial exchange showed don't come and click the listen. Then click on the mend and catch up on every segment. You'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show does come. This segment of the financial exchanges brought to his eyes he rented your landlord. Take advantage of zero. All automatic on the line rent collection tool. That is free for landlords with the count of participating bank and always three for tenants now collection of local banks offering this unique program. Including leader bank and stone bank so sign up and have rent payments deposited directly into your account today. Call 7816418691. Today visits he ran dot net. For more information member of the. IC you know Boston the city of Boston is starting to look a lot like Manhattan island to me I used to live in Manhattan back in the eighties and it was. You know it was. And today Manhattan is still an area where rich people are you you don't live in Manhattan unless your make and big bucks if you talk to somebody lives in Manhattan or in San Francisco. They think that 400000 dollars a year is middle income. Austin is becoming very much like. Turning into that and in what you're seeing also is a rise. In the the cost of living in the city of Boston in particular in the last five years. It has just gotten prohibitively expensive now 681. Dollars per foot. That's just nuts insane. That's that's the average two trucks bought in and you look at all of the new buildings that are going up they are all hired and places to that the new big when it's going up the one in back bay that you see the the crane going of the lit up at night and everything. It is a four seasons hotel and private residences when they use those gonna go for a couple million bucks the typical welcome I'm gonna pull this up now and see if I can give a little bit pricing on. I was shocked last spring was about a year ago when my daughter bought a place in back bay. And I couldn't believe which he had to pay to get these small two bedroom. You know third floor walk up. As you shocked at how much money in and how much you could get like the EU look at. And then look even get the suburbs for the same money. So this is that the building that's under construction boss right now it's one Dalton street yeah. The pricing is expected to be between 2503000. Dollars per square foot per. So just do the math the thousand foot snowman Santa would happily by Syria Cuba allows us here you wanna join small place if you wanna one bed with a den it's gonna be two and a half million box. And you ask yourself who's behind six I can tell you. Not me if you've got eat you've got a lot of young people wanna live in the city when they graduate college you did chuck you've lived in this and out of an Dalton. Nobody but and then you know who else is moving in all my generation my peers who organs continue to work if fifty years old 55 years old. There and the masters he get to the point where he moved to the suburbs because you want the good schools right EC send your kid to a public high school and you avoid that private school tuition. But the second. Expected graduate high school lot of people move back to the city. Yeah I they good family friend who did that back when when their kids graduated maybe 1520 years ago now and they moved right down to you know the execs called the of the old customs house with clock tower on in the harbor right they said we're gonna move down they were just wanna be able to hang out walk around and kind of do our thing now as a country. Dobbs it's it's you know Boston. After the Big Dig became a very desirable city to live don't we have the ninety's were terrible. Eight Getty I'll go to Boston in 92949690. Yet now's the time divide. Back barrels a tough guy is EU that in the early nineties. Austin was. It was terrible. Just look at it does sort of at the seaport it's unbelievable that today there was spent five years you knew it was parking lots and now it is the most desirable neighborhood in Boston sort of back dame Beacon Hill. But the mayor is you know. Making noise about it while we wanna make it you know affordable housing not gonna happen too late play if it's gonna happen if Europe cop. Right you're probably not gonna live in back pay your your probably get a live in mauled and are you gonna live Everett in the birds if you'd you'd just duck and it before. It's just waited and everything necessary only bad thing now where. Where is where you run into problems and you're starting to see already is the people who worked at a lot of businesses in Boston are being priced away from the transportation options to get the men so. If you are fast food worker who works works in downtown crossing mean you may have previously lived. You know in Dorchester or you may have lived and Revere Everett early and are some. And all of a sudden. Everyone's pushing into those areas and pushing a lot of these people out in its failed was that have lived there for 5060 years and a lot of jays organization say oh yeah it but it's. They keep you see it happening and the problem is eventually gets the point where. You just don't have people who you need in order to be able you know to fill jobs in the CI. It happens in New York I mean people move to the Bronx and move to queens they moved to you know Brooklyn used to be. Not today you know thirty years ago Brooklyn's is high now yeah Brooklyn is very desirable yeah now. It was a dump their yours had backed the eighties Knoedler. Now we will and look I I would consult hurdle for five years used to also on the bill right reason you know it's like these it's what we've seen the last fifteen years in Boston in the surrounding communities is knots. You know truck and I thought we were smarty pants last week because we both came in on the same day he goes on Monday last week. And we both had experiences Tucker says that. Demonstrated that perhaps in the zone was moving to Boston we both had inside information yeah. Doesn't seem to be the case now ballots it's looking like Arlington Virginia. Don't know get up INS this is so hypothetical. Like we thought we don't need both cut it was ironic because over the weekend. We both had. Inside information. That Boston was going to be the next headquarters for each Q2 and is on a cute too. Pretty reliable sources you know why education and shovel ready location in in the Suffolk downs location. Now we're hearing reports Dennis green is reporting. That might be Arlington Virginia. Yeah pretty much what happened was there is a aid the local news site there called ARL now open they got a bunch of traffic from an internal Amazon page directing it to some information about the city in about the region. Now I do think that the DC area. Is he a leading contender for this simply because. Bezos RD has a presence there because of the Washington Post names and as huge facilities Ian. Northern Virginia right now all we're pretty good education systems trade if you look at the colleges and universe they're not Boston. And they're not New England over it's very good I mean you get Georgetown you got University of Virginia Nike you can go down those graduating from Dartmouth buddy wanna go to that area. All told my buddies went on to Arlington Aaliyah when they did they worked in DC but they all lived in Arlington they ago. Right. Yet shovel ready location. Firm. So they got a let's check the boxes safe pick it shovels and let's check the bars are ready yet to have that we need that 150 acres. In that ballpark and they'll be able to find no problem you think certainly if Amazon has massive data centers down there already. May we are knocked it. I hope we do I gotta do to I the it would it's just an all right infrastructure in on the transportation. Open for an underdog. Underdog like want I don't know how truck Parker who like out of the list that's like a sport. They've they've already written off all those other cities so it's not going to be down but. No one of the ones that we kind of group who you know something like it was there really was Nashville up there's still in the list are in the running sorry we're only like one place in Kentucky we use our soul Raleigh is going to be Atlanta here for the longest time use they're gonna buy UPS and instantly I still think they're gonna buy UPS at some point this. I gotta do they might not need to at this point. I got a delivery from Amazon on Sunday morning 11 o'clock so my bought by. Saturday night around 9 o'clock was delivered. And so is on mourning you are easy and it was and Amazon truck a white van interest. I haven't seen those out on Sunday Israel and the SE running a decent amount period GAAP. I seem all late in its just the same man just. You shut up and down the street the whole afternoon pretty much you know that. Program that Amazon's ruled out for whole foods. Those are all flex drivers those are those her. Guys that are effectively the Newbury equivalent deliver in the group from tell you whole foods I was reading some stuff over the weekend. That they are having aide just a boom in their sales after this I was until you know it's it's insulate some of the vendors going you know like we're seeing sales spike violate 210% like were there making his charge less or making more on the back in because the volume anyway as they're not. And united can do in the delivery until they do that deliver its ease and rolled out that delivery in new York and in Boston you know the northeast. I'm telling people aren't they they did roll announce some cities are marketed like three or four Virginia Beach yeah. Now that he is a minor roll out I I'm very curious to see how rapidly. They can roll that out because I think of the faith think about. With a big retirement community in Florida. The villages villages now I can you imagine. Maybe they would that would be huge in that there any areas that Dave is densely populated it gonna take advantage yeah. I you know anything about. Manhattan I mean eight V. Is it's remarkable to think about the the impact that's gonna pay when we come back. Are we talking about Netflix. You know Netflix has been around I don't know ten years in terms of the streaming product I guess they've been around 2030 years they 120 total yet disease to delivered. Of all evil is gather red envelopes. We talk about Netflix and their library next on the financial chip. The financial exchanges and live on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank location bank locally and buyer gold locally it just makes sense of leader banker called them learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back. Let's go ahead many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with plenty of optimism about a repeat performance in 2018 Titus is very are strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if you're high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal state tax let my team at the Armstrong advisory group explained these changes and how old that new law affects you call right now be free guide 803934001. -- 803934001. Or download it right now at our strong advisory -- out. Securities are for your securities America incorporated member finreg SIPC advisory services are securities America advisors incorporated Barry Armstrong represented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Advanced estate planning has many benefits including avoiding probate passing your assets along to your family possibly eliminating estate taxes and perhaps most important protection from the nursing home each week published a partner go off from -- in -- post the legal exchange radio show and he educates his listeners by telling them how to protect their assets from high custom nursing homes the state planning has many benefits but if you don't plan accordingly your short of miss out fishing in Dolan is put together a brand new guide told the top ten reasons to do a state -- minute you'll find strategies that can help you navigate this complicated process while learning what to do and what not to do when it comes to setting up your life estate call now for your free -- -- 8668485699. That's 8668485699. You can also download it right now from their website legal exchange showed dot com Cushing and Dolan has been helping families just like Georgia Thursday claiming for more than thirty years give them a call at their free guide and let them help you to you only 668485699. Or download the guide had legal exchange showed dot com. There are better than one that everyone knows that and where offerings to mountains and one. You can add cash and a blouse catamounts illness ain't I on the email link. They're just twenty minutes aren't and number one in neat. You out in the once again WR downhill this winner at added tax and allow tantamount to do that and we can't. Dot com for more information are are strong here and I'm joined by estate planning attorney Todd what's key from law firm of Cushing in Dolan. And we're talking about reasons to create in a state plan this one really hits home. Howell Todd can you provide for special needs child or grandchild. Without placing any benefits that their currently receiving from places like Medicare. It in jeopardy. You know and it's not even just like Medicare thing your rate special needs children that the biggest issue there is. They might already be receiving some kind of government benefits that Jewish. And and people inherently feel that they have to just inherit their special needs child. Because of their fear of losing the government benefits when they get all this. And I wanna make it crystal clear out great reason to do estate planning is you have a trusting you to not have to just inherent your special needs child. You can give them the same amount of money as you can give your other children who serves as the trustee of that truck would have the children's. Who is literally no it's a sibling who better knows the needs of the child that sibling that brother or sister again. So easy use and not turn uncle to you could use a family member who understands. And that way you inside your trust your your family trust. Is a special needs share that allows money to be paid out to the special needs child to better their lives. With out jeopardizing their government benefits and that's exactly what he have a special needs child or grandchild that's a terrific reason to create a trusted do in a state plan. Call Cushing and Dolan and receive their guide it's called the top ten reasons to create in a state plan 8668485699. Total free. 8668. Or eight. 5699. If you're so inclined you can download the guide on the website it's legal exchange showed dot com or call told free. 8668485699. Armstrong yeah. So I'm bringing you the best in business and financial news every day this is the financial exchange radio network. I think a lot of people forget that Netflix started off as a company. Where. You rent dvds he pay a monthly subscription fees and you've created I think ordered it two or three dvds at the time. In the and you put him in an envelope and mail them back in you can orders three more in and you would come and nice to see him in a in in our mailbox in the office dispute would bring them into work. Yeah they originally had it was just you you get one dvd in and you can send it back and they went to and eventually they ruled out an unlimited. Monthly model as well this tape Renton send them back and you know one of the next one and then they started their streaming. And android based try to point your exact dates Irene thank it was ten years ago to be honest now I wanna say like six years ago. Here's a time no it was ten you know it was a rilya. It was it was actually 2007. Is when they started by 2010. Was win the day be you know kind of had made made the ship where the majority of their bills was streaming I know when it first came out the library was an absolute joke. But it was it was terrible I was so bad. You know his library and actually seven bucks a month and you could still do the dvds. Never won a first nodded moral watching him a note that the stuff that was streaming it was late James movie you know as a caddie shack two you know it was justice for. Awful stuff. But it's got to the point now where they are you know one of the biggest media companies in the World Cup but there's library. Of of what we have to watch is in its smaller now than it used to be yes so there at the number of movies they have now is a little over 4000. And in 2010 beta that 6700. Degrees but I would argue they thinned out a lot of crap more than anything else slate. I was looking last night to see ideas through the opposite I think all of that's on Netflix. Being attacked but you think everything daddy just crap that's as you bury. That's on Netflix you just think. I do not ICA visited their viewership this sort and you see another movie this year finally got it I've been I've been gold and what would you see this year rate what is it that you went in Jumanji you module eagle and then Ellison went from Lincoln to Jumanji I am now. OK what what else I wouldn't you know and some. I thought that's the only went to see not what Q what do and other wrote two weeks in a room with an island the mood I do I go to the movies now and empower you with some of it. But I'm I'm I'm I'll go next week to gonna go to that black bantam yet on a plane that's what's needed. Anyway they might back to Netflix. Severe library is shrinking the deep freeze. Eased a couple. Of the movie library shrinking their TV show library has tripled. They've gone from 530. TV shows in 2010 up to 15169. So tell me TV show the guys watch and and then tell me why. Only give you like the are we talking that's on T my job where Avalon Berlin thing tube into a subtitles. What one. At that. And I don't know what you're talking about he Barry Milan Berlin where there is some Berlin to use that you've been life been sliced it try to not have never watched anything on Berlin. Are you citizens meet. I I can tell you are talking about Berlin if is that it's a television you watch on a big TV show that I've long on Netflix is Archos. Archos is unbelievable. And it's about right based in our story about the Mexican cartel. Mexican owner Columbia. Colin Columbia I'm sorry yes look at giving that hard they are good for some that Netflix is produced or just something that's just something on Netflix you liked and one stranger things stranger things good kids. Went in to watch and it news watch. And accepting it like Darko second understand where you watches a real store them right track give me something gave strangest things as tall and think of Netflix vs HBO or anything like that ozark. A lot of Netflix black mayor black mayor now like we are accountable in mind a little bit. Is it based in reality either went they're all based in reality you know that's kind of the whole pro you just don't like the fiction creativity stories you like history and facts rates on her. Are you know you'll like this it's kind of based off of history mine hunter. Mine had him out that travels into the mind of serial killers pretty much and there are actually sooner. You know they stop the real server serial killer's next day and not true and you made gestures. On. Broad beans. Why why does our broadband speed suck so much I mean. Canada is a big country Canada well Canada is a bigger country yet but they can't go out I dare dare download speeding and it is double. More than double what we have in the US Serbia. Has that Serbia. Serbia they are pioneers of information technology all dairy has better speed and Australia. For cry now why why do we have such crappy Internet speed I like speed. So it's there's a number of reasons why one is actually the size if you would collect the top countries like Singapore. Is on the list because it's late it's tied look at it is that there's not many people. Norway again another small country Netherlands another small country South Korea ever was concentrated in a couple of regions like it's it's very hard to get average speeds up. Wind you have this geographically massive area at a cup okay but your argument falls apart when yet camp. The candidate like a lot of it doesn't have anyone in. Right busy week later this seat is double rapidly they don't have many people lake Saskatchewan like empty aside from like three cities right and all the hockey players will open how much Internet they use. It Izzo the big thing in the US is also you've got ten this patchwork on the state level where there's different states that different setup since I gets. It's a more complicated process to build nationwide Internet here than in a lot of these other air at a top of all the users that we have. Think about how how many devices each user actually happens go home and and account through all the devices they use Internet. Now gimmick I don't know like. I have three myself. And I'm glad they're all using either either uses part of the band is here and thrown up or trying to get a list of the fastest and slowest states for opera and you're ago. OK so DC obviously against the thing about the small area and averages 28 megabytes per second. Delaware small area 25 Massachusetts averages about 23 because it's small New Jersey. Yet Jersey six Maryland seven Rhode Island is up there are new you know you go to view of the slowest ones. Idaho and New Mexico. Arkansas Alaska. Mean it's it's all the big spread out states that don't have people concentrated yeah because when you have concentrated people it's easier to pay for the cost for high speed Internet. You know in the past I've told you about the Virgin Islands most of you when you think about the Virgin Islands you think about place may be what their own cruiser. You know somebody went on their honeymoon to Saint John Lewis Virgin Islands are comprised of three different islands saint Thomas Saint John in sync quarry just three of and they are thriving communities you know posting thomas' saint Croix each have populations of forty to 50000 people. And they have their own territorial. Tax system remember they're part of the United States you don't need a passport to go to the EU the US Virgin Islands. You don't need a passport to start a business or move your business. From New England to the united states virgin why would you do that well outs for next place to live but secondly. You would reduce your personal and corporate tax rate by 90%. If you relocate your business mention that. You're paying. 2000004000006. Million dollars a year in taxes and reduce that by 90% I relocating. You were business to the US Virgin Islands if you would like to learn more about the economic development commission. In the US Virgin Islands and give your phone number he should call it. If you're paying a lot of money in taxes the federal income taxes. In your willing to relocate your business of the Virgin Islands. C 90% the phone number is 855622. 3634. I hope you wrote that down at 855622. 3634. They haven't I haven't written my hand here for those of you were watching us on FaceBook. Or YouTube. Eight they have this forty page guide. That you can call and receipt requested to say hey as listen and Armstrong talked about the PDA the economic development commission. And like to learn more about how I can say 90%. Of my corporate and personal taxes. The phone number one last time. 855. 6223634. Over CEO already told Goldman Sachs the real plan it's not to replace taxis it's to replace your car. Not surprising is well we've talked about it but again. I can tell you if we did a poll 90% of our audience would say I never given. My car like. I kind of feel like I'd about a hundred years ago lot of people have not given up my horse and buggy right. You know legacy this and only Florida like that that engine and everything all that noise in all of a sudden here we are. And what's it cost for Cooper acts now to fifty mile depends on the location began in the apple. And right now to operate a car it's about eighty to ninety cents. Yes so what once you strip out the drive for the drivers the single biggest cost debts. Let's the 5% is between seventy and 80%. Well is it really though because that's what they're giving the driver but that includes depreciation deal. Susan the driver may be argue yet grab 50%. Drivers probably the yeah probably really forty and sixty yeah probably went right they have to figure out how to drive down cost before it becomes more attractive. I can operate mile car for eighty cents and ninety cents. I wonder when will we talk with this private car ownership I'm guessing that's probably talking in rural or suburban areas because you're paying for parking and higher you know higher costs like that in a city all the cities in the city. Of the New York it's used New York is an example it's in new York and Boston right loses or two. Large areas I mean a parking spot in the city of Boston and outdoor spot. It's probably 3400 bucks a month. I'd say about 400 in New York it's probably 550600. And again nobody's got a garage down in New York he pays us being somewhere around 55600 a month what do you think the early adoption news in the big cities obviously. Densely populated areas. You would think so I would say that. I think about somebody is that where you have the highest cost offset and that the and that's where it makes the most sense right away and I think the biggest use of this is actually going to be connecting more rural areas in the late. What this does to make rural areas more accessible right it doesn't haunt. But I if the if they hit those traffic numbers for Kazaa a whole idea behind it is to reduce congestion. In the C notes on the Mass Pike for an hour trying to get in the city we recently got some numbers as a relates to home sales. And in the next segment we're gonna be joined by George were two from the National Association of Realtors was the housing market look like. Chuck and George will talk about next on financial exchange. Vote on our daily poll question had financial exchange showed dot com millionaire player of the media player and watch the show while you work. This is the financial exchange radio network. There are a ton of reasons to do estate planning certainly you wanna protector acids from programs that makes sense you probably want to eliminate any possible estate taxes that also makes sense what about making sure that your assets are distributed where and how are you actually want them to be instead of hoping that things work out for the best if these questions mean anything to you when your family you need to get Todd -- skis brand new guide for this month the top ten reasons to do estate planning. Let's do is a senior partner at the law firm of Cushing in Dolan and hosts the legal exchange radio show each week on the station he knows the horror stories of what happens to families that don't invest time and estate planning don't be one of those families call right now and get your free guide at 8668485699. That's 8668485699. Talk term Cushing and Dolan are experts in the state claiming an elder luck and they can help you the same way they've helped so many others for more than thirty years old now and get your guide. 8668485699. Or download it right now a legal exchange showed dot com. Hi this is very Armstrong and a speaking to business owners everywhere who listen to this program the United States Virgin Islands are great place to locate a business day of the tax incentive program offered by the economic development authority that could help save up to 90%. On your federal income tax here's Wayne bigs executive director of EDA. This is a program is fully approved by congress has been in existence for about 45 years that we have several companies that are doing that Carly and we effectively reduce federal income tax because we do Ameritech's system where we use a federal flawless with the money CC territory and a fogleman has allowed us to do that to increase economic development inventory to encourage economic development unit territory sort of allowed us to tweak our tax rates if you're. Business owner looking for tax breaks to talk to the folks at the US BI economic development authority and learn how you can put incredible capital back into your business log onto their website its US VI ED a dot or best US. VI EDA dot or. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the produce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and still a bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 781 at 6418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Many believe that the incredible success we saw on the markets last year was fueled by the promise of tax reform president trump signed the bill just over a month ago and the markets remains strong with the quality of optimism about a repeat performance in 2018 Titus is very strong and I've got a new guide out this month that breaks down how this new tax bill will affect you especially if you're high income earner this new guide we'll break down the changing tax brackets how the bill affects retirement savings as well as what it means to the federal or state tax let my team at the Armstrong advisory group explain these changes and how old that new law affects you call right now be free guide 803934001. That's 803934001. Or download it right now are strong advisory ducked out. Securities offered to securities America incorporated member finreg SIPC advisory services are pretty securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Security suffered two securities America each member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. Spring housing markets just heating up now in joining us to talk about it is George were to from the national association. A realtors George thanks for joining us. Certainly no pleasure to be here. George so obviously were were pretty much heading right into that main market right now seems like it starts earlier every year what expectations this year as far as prices and inventory any any more homes coming on the market finally. Well think of about other we just released this morning we and yes slow start in January tell the weren't on the in January. Four point 8% from La from last year. A lot of that. Driven by extremely tight inventories fell inventories nationally aware of about one point five million. Which is which was my point 5% more and long January. But in terms of how tight the market is currently. Where it got three points or month supply meetings the entire inventory. Holmes or could be exhausted in a little over three months. So what this spilled or for the year and the well of course the where in in terms that early winter season until point we have to be starting earlier and earlier. And and I think that without. He's not supply without enough new construction. We are likely to see very tight inventories continue to that the main transit for the rest of the year. George over to the data and go back in in 2015 there's four point eight months of supply. And we saw you know that would that's considered a tight market to begin with. Home prices are up about 10% nationally since then it would seem to be a good time to be a seller but people still aren't selling the have any idea why that is. Well and I think their there's a combination of factions for some people. I think that the interest rate environment. That presented a conundrum. Especially folks that either secured or refinanced. You know that the 33 point 3% mortgage are you a few years ago. There's pairing not only now that roughly four and a half percent more betrayed and thinking. 41 if you need your point about penal that the price appreciation over the last five years. Prices are up 41%. But the same time wages. Are only up 12%. So these folks are facing a market in which prices are considerably more expensive. Mortgage rates are a lot higher self I think there's little bit of that lock. And lock in effect for a lot of existing. Omar. One of the pieces that I've kind of gleaned is I was going through this it seems like there's a huge durst at the bottom end but. The upper end market for home still seems to be pretty strong is that it's that match what you're seeing. Indeed when looking at the price sectors those sales were down on the on a yearly basis particularly or. The 250000. And be lol. Price ranges which is where a lot of first bombard the comment. 250000 and above you know 506. Speed build skills are or actually open on the the year over year basis up clearly. On the net where they are still why issel maybe a little less. Spent that this too is that the mortgage rate environment about it a moment. Affordability combined with the tight inventories and rising prices certainly impacting buyers. Do you have any regional data George like how to think stacked up to New England compared to the rest of the country. So New England down her was I was down on the month to date for the ball point 4% and then a little over there and a half percent on the year elite. They get out of that compared well the that the west region which include California now Oregon and Washington. Of the modern states 1009 and a half percent on the year the basis at all. Little steeper than the north east. And then the midwest and now they're a little better. I'm driven in large part by the install our own. While taking migration from some of the other area until the last few years. And really strong economy strong employment base. So we're being told that reflected in domestic market. Very good George thanks for the time today we appreciate it. Georgia return from the National Association of Realtors talking about the state of the housing market you know you hear about the supply. Issues in their they are very real use still don't see shovels in the ground in terms of new construction we saw spike last month. You know and it you know we saw I think was eight or 9% spike month over month. And as we go for a couple months now so. I wonder for May be finally starting to turn the corner there and get those you know new properties. Under construction. And I think in New England what you're gonna see is it may not be brand new construction that'd be massive renovations. Yeah you know like I what looked at properties in our town. And two of the three that I look at where renovations you know early in there they looked like their brand new homes we have their. Just massive renovations I think that is seen in the northeast in general is we have. It is just not enough develop mobile lenient. Do you still don't have new home construction might call me when it's a million a year. That that's kind of the benchmark is a million new homes a year lawyer I think it depends a re talking single family. The net million U in that ballpark yeah I think total construction hour delay won three but it thing going like 650 or 700 that he single family and that's where the jobs. You know you you get that the number back up that's right I'm optimistic about the economy. Is this economy is doing pretty well without a huge uptick in the housing market. The big question we're gonna get the workers it is the big question if you talk to guys that are cut contractors and tight in there have been a -- of time finding carpenters even labor's right in their pay good wages abducted me in 2030 bucks an hour detonate and find guys that wanna do that knowing they can't work. It markets open. Let's see the Dow is up a 133. Points not a bad start today. Have a great day we'll see tomorrow on the financial expert. Go big. Got a week to go Killington. If you haven't heard we've got a snowstorm coming still worry about shoveling the driveway just after skis and boards and seven GPS to Killington. The sixteenths there's enough snow stash forever like it's funnier trail and find your latest killings. Saturday Townsend. Visit Killington dot com slash snow and save up 40% off lift tickets when you buy online in advance more winter more Killington restrictions apply.