 You're too young to do real estate. I became the number one agent out of every agent, every brokerage in my area for eight years in a row, and spending time with your loved ones and really living the life that you want to live. And that's exactly how I live. I knock off at five o'clock, I knock off on the weekends, and I bring my family everywhere we go. We travel three times a month and speak. Every single one of you can do anything you want to do in life if you're just willing to do one thing. Whatever you decide to do, don't stop until you're the best in the world. Look at these four markets, Vegas, Phoenix, San Francisco, Austin, same trends, bottomed out in January, boom to the moon. They're sitting on low mortgage rates they don't want to sell. Think about every day how much they become, they hate their house more and more and more every single day. Builders. Homebuilders are crushing it because there's so much demand and there's nothing for sale. Hey guys, how we doing? I know it's really late in the day. Let's see how loud you can get. Make some noise if you had some really incredible value today. Make some noise if you love real estate. Okay, y'all are awake. My name is Ricky Carruther from Gulf Shores, Alabama. You might be thinking, how the hell did you get here? I'll tell you how. Every single thing that I decide I want to do, I don't stop until I'm the best in the world. When I was coming up in school, you're too small to play football. I walked out of high school with a full paid scholarship. You're too young to do real estate. I became the number one agent out of every agent, every brokerage in my area for eight years in a row. Thanks mom. My mom's actually here and my wife and daughter that actually really hit me kind of hard when Andy Elliott came out here with his wife and said he brings her everywhere she goes because I do the same thing. And he was talking about quality of life and spending time with your loved ones and really living the life that you want to live and that's exactly how I live. I knock off at five o'clock, I knock off on the weekends and I bring my family everywhere we go. We travel three times a month and speak and it's a great, great life. Now what I want to do, do I have my slides? There we go. There we go. Can we go back? There we go. All right. I just want you guys to know before I move on to my slides that every single person in here can do anything you want to do. If I, growing up in a trailer in Alabama, could do the things that I've done, every single one of you can do anything you want to do in life. If you're just willing to do one thing, whatever you decide to do, don't stop until you're the best in the world. I ain't talking about market or country, the world. Now we're going to play a little game. Tell me the first word that comes to your mind, all right? What's the first word you think of when you hear the word Alabama? Yeehaw, football, country. I was in New York and I asked that, you know what they said? Mud. I said, I don't know anything about mud. I'll show you why. All I know about is sand, baby. This is where I grew up, right here on the Alabama Gulf Coast. You guys knew we had beaches? We're going to have some of the most beautiful beaches in the world. Next time you want to go on a vacation, you don't know where you want to go, come to Gulf Shores, Orange Beach, Alabama. Come check out our seafood restaurants and holler at me. Let's go have coffee, let's hang out. I'll show you around. Hell, I might even sell you a condo or two. Now I'm here to do one thing today, and that's to prove this to you. Why now is the worst time in history to buy real estate. Ready? Come on, guys. Now I've been really good at predicting the market over the last couple of years. All right, how did I do that? Well, I've been doing this for 21 years, and I'm a great test taker. I'm an educated guesser, really good at it. This is kind of jacked up looking. That's okay. On April 28, 2020, what were we all doing? We were locked up. Don't let me out. I put out a video. Why the market is about to surge, not only surge, but why it's going to be the largest surge that we've ever seen. What happened? 2021 happened. We had six million transactions. In December, I said, we hit bottom for home prices. We're going to start coming back up. What happened? In January, we hit a bottom, so it was a little early, but I'll take it. On January 12, I was sat right here on this stage and said, we're about to see a little springtime surge that's going to be amazing. What happened? We had a surge. We had more transactions. Prices started to increase from that moment. And here more recently, early May, I said, not only were we about to hit positive year-over-year prices, but we're about to go to an all-time new high in home prices. And I said it was going to happen in July. It's July. What's happening? Does anyone know? We're about to hit an all-time high for home prices in the country. This is one report of many, many, many reports. This is just Zillow. There's several different data companies. They said that we're up 10% from April to May, transaction-wise, up 0.9%, 1%, year-over-year positive prices. This is a chart of Redfin that gives you the most up-to-date numbers when it comes to home prices. Look at where we are right now, the blue line. We've caught up to last year. We hit an all-time high in June. You can see there was, what's not there, it's 387 is where the all-time high was last June. And right now we're at 384, and 0% grow through every year according to this chart. You're going to see more and more companies. We've just seen a CNBC article come out that said we're about to hit an all-time new high. Like Finn said about two weeks ago, we're 4,000 away from all-time high. This wasn't hard to see. That little square is kind of covering up the wall that was created last year by the decline of prices. It wasn't hard for me to see that we were going to bust right through that. This is just prices we're talking about. There it is. But Ricky, that's national data. Real estate is local. It's local. Right? You hear that? Even the real estate bears, the crash brothers? Okay, here's probably the four worst hit markets during this downturn. This is what this was. This was a 2008 situation, ladies and gentlemen. You know we're down to about the same amount of transactions this year as we did in 2008? This is 2008. This is the bottom. Look at these four markets, Vegas, Phoenix, San Francisco, Austin. Same trends, bottomed out in January, boom, to the moon. It's local. Look at the data. Oh, but what goes up must come down, right? No, you're confused in the real estate prices with the stock market. It's not the same thing. What goes up doesn't necessarily mean it's going to go down in real estate. Look at this. Appreciation going back to 1942. What happened in the mid-40s? Several years. What is that? Five, six years of double-digit appreciation? You know what they said back then? It's going to crash and burn. Prices are going to plummet. One up too high. What happened? Positive, positive, positive, positive, positive, positive. Later on in the mid-70s, we had six years, four of which were double-digit, positive appreciation years. This is when interest rates went up to 19%. Remember everybody tries to scare you with? Look at appreciation during these years. It's going to crash and burn, okay? The year after all this, the big run-up, six years' worth of the run-up, it still hit 7%, 5, 1, 5, 7, 7, 10, was 1980, was 1977, a good time to buy real estate? Yeah. Continue to go up. In 2008, we see what happened there in the mid-2000s, subprime mortgage crisis. Only time it really actually went down, and here more recently, two double-digit years of appreciation, and we're all freaking out about it. There's a recession coming. Okay. Look at the data from recessions of what home prices do during a recession. Do you see? They just go up, up, up and away. They crash in 2008, which, by the way, you go back to 2008 and look at the data and know what you know now, and you look at the number of transactions, the prices, the entire picture of the data back in 2008, knowing what you know now. You look back at that and you think, that wasn't so bad for the real estate market. That really wasn't so bad. It was actually great. You know how easy it was to sell real estate in 2008? That's when I got back in the business from losing everything, sleeping in my car, eating out of people's refrigerators. I got back in 2008, and it was so easy. Why? Because prices were half off. Who doesn't want half off real estate? Make some noise real quick. Okay. What about demand? So an article came out, 98% of millennials want to become homeowners, because they want to build their equity instead of someone else's. 72 million millennials in the country, I thought, hmm, let me dig a little deeper here. So I looked up and found that the average first-time home buyer is 33 to 36 right now. And I said, hmm, okay. These are millennials. 98% want to become homeowners. Let me dig a little deeper. How many 33-year-olds do we have in the country right now? So I went back to birth rates. Go back 33 years. What year would that be? 1990? What do you see on this chart in terms of birth rates in 1990? Is it a blip? Or is it a massive spike? It's a massive spike. We got more 33-year-olds right now in the country than we've had in a long time. And 98% of these people want to become homeowners. Think about this. Next year they're 34, 35, 36, then you've got the next group. Now see how high the birth rates stay for over a decade and a half? There's so much demand right now. It's not even funny. Can you even think about the sellers who are locked into their homes because they're sitting on low mortgage rates they don't want to sell? Think about every day how much they become, they hate their house more and more and more every single day. Think about that. That demand is brewing. There's a historic amount of pent-up demand unlike anything we've ever seen. You also have immigrants coming into the country. Where are they going to live? Are they going to rent? Some of them buy. Are they going to rent? That also increases prices. Rents go up. We're in a win-win situation here, ladies and gentlemen. But mortgage payments, they're just out of this world. Nobody can afford this. This is the monthly mortgage payment going back to 89. Looks scary, right? Let me give you a nice visual of what this really is and adjust this for inflation. Now, what do we see here? I'll tell you what we see. We see that we're just getting back to the way it was in the 90s and the early 2000s. And then when you really look at this, you realize we have been spoiled for the last decade and a half and we didn't even know it. All we're doing is getting back to normal. Is it a little high now? Yes, and that's what I believe is going to level prices out. Prices aren't going to shoot to the moon forever. We're going to go up a little more, but affordability is going to level it out. We're going to hit that ceiling, but the point is we're not going to get back to how it was over the last decade and a half. People are going to grow accustomed to this, ladies and gentlemen. Now let's look at the amount of your household income that goes towards the mortgage payment. There's a chart going back to 89. You see the same thing. We were spoiled. We didn't know how good we had it, and now we're just getting back to normal. What's the big deal? Well, because there's a lot of crybabies in the world. What about the foreclosures? It's going to be a wave of foreclosures. We're not even back to half of the foreclosures that we were pre-pandemic. And Black Knight just came out and said, we're still at historic lows when it comes to pre-foreclosures and delinquencies with no sign of any massive boom of foreclosures happening. We'd have to double where we are just to get back where we were pre-pandemic, much less back to when we had a crash. Not going to happen. One of the biggest reasons is equity. Look at that. That's the average equity that Americans have in their home. Why is that? Because prices went up so high, but you know what? Prices are holding solid. Why? Because lending regulations that were put into place after 2008. Thank you, government. Didn't think I'd ever say that. But that is why we're going through 2008 all over again, but prices are holding solid. Real housing crisis. If you go back to the 80s, this is housing inventory, the number of homes for sale. The entire 80s, we had somewhere anywhere between 2 and 3 million homes for sale at any given time. 2 and 3 million. Right now, we're sitting on 750 to 800,000 listings. This is 2023. In 1980, there's 2 to 3 million the entire decade, and now we're at 750 to 800. You with me? Where's the inventory going to come from? We're the lowest that we've ever been historically at this point in the year. We're down 11.6% from this point last year. Nobody wants to sell their home. They're sitting on such low interest rates. So who's the big winner? Anybody? Come on. This is real estate. You guys are in real estate, right? You guys got any ideas who the big winner is in the market right now? Builders. Homebuilders are crushing it. Because there's so much demand, and there's nothing for sale. They're absolutely crushing it. And they're giving better interest rates. They're doing buy downs, incentives. They're killing it. They're going to continue to kill it. So what does all this stuff I just said mean for your business? Anybody? What? Buy more real estate. I'm amongst real estate people, right? Yeah, real estate. That's not an answer, bro. I'll tell you what it means. Not a, absolutely nothing. Why? Because it's the same as I said. Closings will happen by their truck loads every single day for the rest of your life, regardless of market conditions. Right? If you go back, dot-com-crash, 9-11, 2008, pandemic, what was happening? Closings every day by the truck loads. It doesn't stop. It's mother nature. You can't stop it. Not going to stop it. All you can do is embrace it. Go with it. Take advantage of it, because it's just cycles. And guess what? 110% of the time. It doesn't just surge back every once in a while. 110%. If you see here, in 2008, we did 4.1 million transactions. Right now, we're on track to do 4.2 million transactions. Do you realize how close we are to the 2008 when it comes to the number of transactions in the country? Look at where we were pre-2008. Look at what we were after. All the way up to this chart goes to 2021, I believe. Look what a normal year looks like. Look where 2008 was. That was our worst year. We are there. Now, how many people wish they could go back to 2008 and absolutely take advantage of that situation? OK. We're there. You see how long it took to get back to 5 million transactions? Five years? It's not going to happen this time. It's going to be a violent resurgence of the market back to 5 million transactions. Violent. Right now, as the times are prepared for the market to resurge for the violent resurgence, not once it starts, ladies and gentlemen. How well did I do to prove to you guys this is the worst time in history to buy real estate? I did good. You don't want to buy any? My goal is to buy 100 million this year. I'm buying everything I see. I'm buying new construction. I'm closing on a new construction home every month. Why? Better interest rates, no maintenance, good cash flow, appreciation. I'm finding the deals. Small commercial, 2,000 square foot buildings. And I'm looking for multifamily. If you got multifamily, bring them to me. That's my Instagram. Answer every single message. If you would like a copy of these slides, text me here. You will get them, 251-312-8844. And stay in touch, because I'm going to continue to grow. Are you guys here to grow? Let's grow together. Let's stay in touch. And this wealthy investor community is the number one fastest growing real estate investing community on the face of the planet. It's the best real estate investing community on the face of the planet. How many people are here? Wealthy investor, by the way. OK. I'm in this. We have, if you're new to real estate investing, this is great for you. If you want to collaborate with some of the big boys, this is great for you. If you're a big boy, this is great for you. Because we're collaborating. We're throwing deals back and forth. We're learning from each other. This is one of the most innovative groups in the real estate investing space that you'll ever see. So I hope I can find you in the wealthy investor community. All right. Much love. I wish you well on your journey. Let me know what I can do to help you. And keep crushing it. Thank you.