Trump’s First Moves, Lazard CEO, & the Property Brothers 11/11/24
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Cnbc has quick and easy to understand business news updates at the open midday and close every weekday. Markets, money and more from wall street to main street. I'm cnbc Jessica, adding to follow and listen to C, N, B, C. Business news updates wherever you get your podcasts.

Bringing in show music, please.

Hi m. Cnbc producer katy cramer today on squad pod, a busy weekend at malloc. President elect Donald trump making his first appointments, starting with the borders are .

he was the architect, I think, behind some of separation families last time around, which is raise questions. But there are millions of people who are here illegally.

what's the economic impact of trump's campaign promises for mass deportations to across the board? Terabits lizards CEO Peter orsa lain even the tariffs will.

put up with pressure on inflation, create an incentive for cross border emini. Because you want to OK, you know, your Operations inside of the terrible.

plus the property brothers from H. G, T, V, with a new show about homeowners who can't move and some ideas for making money building additional units on your property .

that SHE did. I mean.

there, yes, you have IT as he should. Somebody.

it's monday, november eleven, twenty, twenty four. School pot begins right now.

Stand back by and three, two, one.

two place.

Good morning, everybody, and welcome to squat box right here on cnbc were alive from the nouns market is in times square. I'm back quick along with john and and Andrew ross and elect .

trump announcing last night that tom home is gonna his administrations borders are he's the former acting director of the U. S. Immigration and customs enforcement and currently a visiting fellow, the herd foundation that was a contribute to project twenty twenty five and that Mandate a leadership of effort he has previously vowed to quote, run the biggest deportation force this country has ever seen.

The post announcing the higher trump a, saying that women would be in charge of code, all deportation of illegal aliens back to their country of origin. And this is the beginning. Ning, in many ways, lots of questions about how this is all going to be put together, what that actually gna look like ah if there's way to do IT and hopefully a humane way and was he .

was to go to of a competing networks to to criticize, abide administration for the border policies and now he here is in a position where can actually um right to what he said should be sort of a big part of the project twenty .

five which is by the way so there's other people who who you know looking at this and saying that you know present trump said he was now behind twenty, twenty, twenty.

twenty five. I think he wasn't going to do the deportation.

No, but i'm saying so. But that's the other anxiety side of IT. There's going to be a way to deal with immigration in important way. We I think, well, I think all at the whole country because but so now it's this matter, how would I get executed? right?

It's it's, I don't know whether called in human is going be tough either way can be tough. Gonna was the architect.

I think, behind some of the separation of families last time around, which is raise questions. But there are millions of people who are here. And this is something that we knew was going to be doubt with that. This is a big issue that again, was a very powerful part of the the election for for trump to this was his first issue that he talked about long before even inflation.

Two other familiar names who won't be running to a the trumpet administration and nicky hai and mike pm. Pale, they are not going to be part of this hail served as U. S. Ambassador during trump s. First term and chAllenged him in the primary this cycle. Pam pale was trump, secretive of state, boobed critically of trump during the primary process, but eventually endorsed this nomination, vocally supported him in a post on truth social trump, saying that he will not be inviting them to join the administration.

Thank them for their service to the country. You an bassam or you an an ambassador. An against .

was the .

primary compel did not run for present, but was frequently mentioned possible present the journal ways in its a leader attarian IT says that the ascendency of uh don junior and tuck er croson in the pic of J D. Vance for vice president they're talking about two thousand and twenty eight already in many times. Presidents don't have certain cabinet member from the last administration, but they don't say specifically way before january twenty.

They don't say these two people will not be so odd to see that. And there's there's there's some message here and the messages that, you know pup pay a few of designs on twenty twenty eight. You are not poster .

me for the next and I I member, I ally against him. I mean just, I mean, completely against him.

He said the first person that gets rid of either tram or biden is gone. He said that he will let common hair. So he was wrong about then.

I was going to say. Then SHE switched gears completely, as if then seemed to be frustrated. If you remember, he was he was an invited SHE wan, even being .

seventeen percent of the vote in. And even after he had dropped out, he was one of the very come back around and say, okay, he was in favor of him and there had been the wills y journal and other is saying you should welcome in Haley and any of her supporters, but that this was before the, I did.

I don't member pum paye being critical.

That's what I was trying to remember.

Remember him being critical. I always remember him being a sort of a and and he was able to say.

I did this .

along with present truth. We did these things.

and they were all positive. I didn't .

remember that I can certainly understand, know j advances are guy at this point. And I think he helped the campaign a lot. There's no doubt from especially from that debate on and then he was everywhere, constantly, no matter how hostel the venue.

But trump event said that on election night, going into the next morning, when he came out spoke, he said jd vans. When he called them up to the stage, he said he would go anywhere and is nobody else wanted to go and talk and kind of jumped at the occasion .

and feels overshadow by him, because almost this been four years old.

What about one question on on the immigration piece of this? What do you think it's going to do? What do you think the immediate impact is gonna on the economy?

Because there's going to be lots of people who are going to some some people are going to voluntarily leave, right? And then there's going to be a whole other group who be going to be scared. Obviously, there's going to be less people coming into the country, which is a huge part of the the goal of this administration. But the other pieces you're going to have folks are working on in construction on golf courses.

Carry talk about this, you know nan's .

all sorts of stuff that are all of us at a knocked are gonna to new cash Carry.

neil cash Carry talk about IT over the weekend and said the impact on inflation, which I think a lot of people look to that. What would the impact on inflation and be if you certainly have to pay more for wages that you had been in a lot of these positions before? He says, well, you have to wait and see how it's Carried out, how IT goes. But IT is something fed officials are watching already there.

There's always been two counter arguments. One is that these are jobs. Many of them that live lize american citizens don't want IT. But then there's always the other argument that they're getting jobs and taking them away from people that have done at the right way and come here.

But the question is, do you have to pay more for that? Now the job that are being paid below, what?

Thirty million is a million? A lot of people?

No, that that's what i'm saying. I IT if it's going happen quickly. The other question, tradition, cause that will be expensive. The other questions.

what do you do with legal and immigration? And I will say this because I was talking to the H. B. Two VISA immigrants over the weekend and were working place that I was staying. They are here from jamaica, from the caribiner other places. If you have a mass influx of legalize immigration, IT may offset some of the some of the inflationary reactions IT just depends on how many of those vies.

You're really it's amazing. But he made strides. And lino voters, the demo is people who are here legally legally are saying we don't like to see them. So it's it's complicated and it's only as a been a week that has a present elect, uh, trump involved himself publicly in the senate leadership race for the first time.

We posted on true social that anyone running to be the next senate majority leader, you should try to let him make recess appointments to the cabinet, to his cabinet that would allow company appoints to bypass senate confirmation. You need sixty, sixty votes to three candidates running to a place. My condo quickly wait in on the issue that risks got, a florida said he agreed with president electronic senator john corny of texas said the constitution gives the president the power to make result pointless and senator john, son of south dakota, said, all options are on the table to get the president nominees in place.

so that gives the president the power to make request .

of point in on the basically they have to do because we're all .

trying to including .

reset appoints republican centers expected to vote in a secret ballot for majority later on wednesday.

And there was some some kick up over the weekend that was reading about just the idea of having that that race right now, that the canal they thought was doing in some ways, in in run around allowing that the president trump to have more influence on this by making IT happen quickly.

making IT happen. Now, elan, musk endorse with Scott, others endorse.

I love the most interesting thing was elan most endorsement. Mike lees comments over the weekend about ending the feds independence. I thought that was farther away. The most unequally interesting thing, mike lee argued that the executive, he said, quite, the executive branch should be under the direction of the president. Yet another reason we should uh hashtag and .

the fed executive of the executive .

is part be part of the people he he believes that the I don't want to put words his mouth, I believe with the executive constitutionally that this is I should technically be part of that maybe have a here and he writes, we have IT uh and elan was saying one hundred percent he said that that's how the constitution was designed. So this becomes a current constitutional issue where .

to go to. And the country have changed drastically over those hundreds of years. And the idea have you ever heard a president who didn't want lower rates? I mean, that's the only question that, that raises .

next on spot the wall street post election view lizards CEO Peter orsak, he's ready for mergers and acquisitions to pick up in a second trumpet administration even if his personal vote was for someone else.

Democracy is spoken. And i'm focused on helping our clients navigate the new environment.

Told me you were excited .

might be Better for a business temporary.

Cnbc has quick and easy to understand business news updates at the open midday and close every weekday. Markets, money and more from wall street to main street. I'm cnbc. Is Jessica adding to follow and listen to C, N, B, C, business news updates wherever you get to your podcasts?

This is square pot up an anger .

q watching square box on this monday morning on cbc m. Anderoon along, joe corny and Becky quick joining right .

now to talk markets, the fed deal making and what IT could look like one's president electric takes office is lizards CEO Peter or zack? He is, of course, the former director of the office of management and budget under president obama. Peter, let's just talk about the markets because we haven't probably spent enough time analyzing this and seeing what was happening.

Last week, you saw the biggest move for the russia two thousand and four and a half years. You saw massive gains for all of the major averages. Bigger gains, I think, for the S. M. P, for the dough, for the dough transports in over a year. And somebody explain this to me, really big player, somebody who understands the markets and made has made a ton of money in the markets and said, look, this is what you get when you have the most anti business, pro regulation business administration going to the complete opposite of that. What do you think the markets are telling us?

Yeah, I think a lot of this has to do with a expectations of a lower corporate rate, more deal making. These are all positive. There's a little bit of uh, pressure on the on the bony ld, which may offset this eventually.

But I think the biggest thing is right now, we're in and everything is possible. And what's happening right now is the transition is the time when the glorious hype of a campaign starts to meet the grim reality of governing. And so the real question is what happens over the next seventy days to prioritize all the things that are that have been discussed. And I think that's gonna have very substantial effects on the market.

And within those priorities, things that are good for business, things that would not be so good for business.

I mean, the things that are beneficial, what I just said, which is a different ema regulatory environment at a lower corporate rate, maser additional activity. You even the tariff s which will put up with pressure on inflation, create an incentive for a cross border ema because you want to locate your, you know, your Operations inside of the terror.

I'd like this, an investment banker type, thinking of, somehow some of these things work. What would upset the apple cart? What would change the markets perspective of what's happening here?

Look, I think there are lots of things that can go sideways in any this is not specific to this administration. That's just a statement of life in the world. And I think if you started to see, I would be paying a particular attention to the people appointed.

And so far, this has gone really well. I think the the choice for chief of staff is a very solid one. For example, if you started to see people who were um you know the people are going to matter a lot. Let me for that way, I think that might be the first indication that something would go off culture or that this is actually pretty promising. And there are a lots of people who said they would never serve in a second trump ant ministration or now raising their .

hand to serve in a second shouldn IT. Be amazing if the if you really did come true that the deregulation, along with maybe a more efficient government, if you on musk.

we're able to do that back, okay.

But that if that was able to offset some of the effects of the term switch, maybe don't be fully that fully implement because countries around the world try to preempt that by becoming more open and and more trade friendly than they are right now. What if that all work? I mean.

that would be that would be great. I would say. I think one of the things from the most recent elections cycle, not just in the us.

But across the world, is inflation is really unpopular with the voters. Now we can talk through what caused inflation in the U. S.

I don't think the common narrative about the A R P is correct, but put that to the side. The risk in many of these things is that they appear attractive now. But if they actually do raise inflation, that can come back hunt later. And that's true for the terrorist s, it's true for some of the immigration .

policies open our deflationary and offset. Yes, exactly. Maybe maybe that you .

put a pin in the the elon discussion.

I I am hoping for the successful on musk doing this. I would just say if you look back at history of rooting out waste, fraud and abuse back to a lame came mark and reinventing government is part of the clean administration and so on and so forth, is this is an example where it's really easy to say, it's really hard to do. I wish IT .

because .

what he knows this, yes.

what is on the table, what's not on the because .

everything that looks wasteful is typically there for some kind of reason, and it's got some kind of constituency that is protecting IT. So IT is, uh, it's like raising taxes the same thing. It's it's easy to say. But then when you get down to the .

details in terms of not just executive action, but within departments that have to hire or not hire, they can choose not to hire people, right? There are certain things they can do, and then the certain things .

they can do so in terms of the very order and regulate verses that they can do a fair amount just through executive order.

And how much cutting could you do that way? What do you think the upper bound limited cutting just us from an an executive action perspectives.

So let's back up here and just remind yourselves at the vast majority of government spending is in entitlement. So as created medicare, medicaid, we're not talking about that. So then you have to carve out the defense department, not clear now the whole defense department the way we a invest in in military, the military probably does need to change. I think there's a real concern and maybe, uh, the new administration can get to the heart of this about whether we're investing in the right types of systems, whether were tex heavy but put defense to the side. The problem is you're down to such a small share at that point of overall government spending that even if you take ten or twenty percent off of IT, you're not really denting the overall, uh.

trajectories we aim brought up the other day these idea of civil service protections, what does that province you from doing? What does that allow you to do?

So this was, again, I think it's a little bit unclear exactly what will happen here. But let's remember, the civil service protections were put in place in order to protect, uh, the professionals of the federal government from undo partisanship and political interference. S now the counter argument that trump s will make is that perhaps the bureaucracy has kind of drifted to have a particular political view and that was not the intention of those protections.

Okay, let me ask you, is somebody who was a former person serving in the obama administration, but somebody who's running an investment bank right now? How do you feel about this election? IT is your .

party didn't win? But yeah, I think I my personal use clear, but the election we were talking about right before we went on was Crystal clear, uh, democracy is spoken. And i'm focused on helping clients navia. The new environment told .

me you were excited that might actually be Better .

for a business temporary？

Yes, okay.

I was, I was. I took that as Y I took that as a win. Ah, you mate. An .

immigration, we've been discussing immigration at the table, both in terms of the humanity of just how this all gets executed, but also the inflation tary pressures that IT could create by the weather hopeful of the offsets. Because I got a i've got a text from somebody is saying, what about all the money that we're spending, you know, giving out debit cards and other things, you know, in new york and other places? Obviously, I think you're part of the partners, new york and other and others that are trying to work on this immigration problem. Do you think there's going to be an inflation in effect that we going to see stories in three months or now about how restaurants you know can't find ough focus in the back office love .

clubs are going to be .

shutting down?

This is a good example of my point about campaign versus governing. We'll have to see exactly, uh, how far this goes IT. I think IT remains to be seen. But if you did, even if I were justified, and I think I understand the the the i'm are .

you not just about the part of removing .

a significant part of the workforce is to put pressure on wages in there for inflation? And not, I think, clear that doesn't mean you shouldn't ouldn't do IT.

It's just that one of the consequences. What do you hear from people? Are there whether deals that were awaiting to be done determining determined by the election? Are there people who are obvious that like, yeah, we're moving ahead IT with this deal we have been talking about IT thinking about IT me on.

I say, up until maybe two or three months ago that wasn't happening but in last couple months and and IT made sense for people to say, look, this is a good idea, but why don't well know either way but why do we wait and see what the environments like? And we may present IT slightly differently. And yes, we are extremely busy now.

So what does that tell you about deal activity for next year?

We were already in a cycle where the ema was picking up, partly because private equity was coming back onto the playing field. So this is just accelerating what was already A A rapidly developing a cycle.

financials. I assume you think that there are a lot of small bank merges.

I hope so. I for a while, as i've been pointing out, we needed to consolidate regional and community banks. The entire trust authorities were getting in the way that IT makes sense to.

Can also clean energy companies that may no longer get subsidies will see what happens. Do they end having emerged because they're going to .

a be more troubled possibly? I mean, let's see. I mean, remember, a lot of the a support goes to deeply republican an states.

I mean, texas is a leading example of that. A see what happens there. But IT is entirely possible that you, one of the exit, one of the sectors that harm tears, the renewable al.

and we talked about the fatal out this morning. But do you have any a view that there could actually be a courtroom ase brought effectively against the constitutionally of the hot reserve as constructed today as an independent entity and whether you part of the executive branch, which is something that mike lee and now we land moscow endorsing, which is raising a question that I think was not on the table, at least a lot of people's bingo card.

A week ago. So I say two things. I mean, I I always remember a paul ker once said, the congress created us and the congress can uncreate us.

So this is a an institution that was created by the congress and IT doesn't need to exist. But the reason that exist, the reason that has independence, is the evidence suggests that independent central banks produce Better outcomes. So what I would say is I think it's in president trumps interest to have an independent federal. Or because IT produces a Better, the evidence is overwhelming that independence for the central bank produces a Better combination of inflation and employment, which is what you want .

with the market freak out. If I thought the fed was not going to be independent.

I think that would you. Australia, about what could be destabilizing. I think that could be this.

I have one last independence question, and I asked to you, as somebody who I know is a democrat, why I imagine me be one of the kinds of people who could raise some these questions. In the future, we will see there will be a lot of business people who are going to go into this administration, right? Many who in almost a post war war 2， a approaches to some of this, any musk, maybe the the sort of avatar AR for all of that.

There's gonna be questions invariably about conflicts of interest, and invariably there's going to be folks regular wavers. There was a story over the weekend about how Howard lottie is, of course, writing this transition team. He's going to be putting people in place who are going to regulate the see and other institutions who affect we are court court supposed to be overseeing his own business. How are how does someone like you think about the baLance between the expertise, hopefully, that some of these people bring to bear and the benefit that taxpayers may get as a result? If you believe that the case and whatever enrichment IT appears to be, uh, on the other side up, I think .

thirty percent twenty dollars today to three forty one. So I think that's kind of what you're talking about.

A politics .

and I was .

going there. I do that that people people may raise question to I and i'm not a against these people .

being all the subsidies we are, they are all going to tesla now I don't know with you. Not true, but I think test was going to .

short answers this ah I think there were many groups that became to pure about O A potential conflict. If you look at IT from this particularly now we can go too far other way. So I think this is something worth watching.

I don't I haven't seen anything that you know particularly troubling at how our letters ck is a friend of mine. And I think a lot of that reporting seems seems off to me. But we have to wait and .

see and had to kit out here and good start .

proposing .

emerging at the time is get here and go .

do what you're supposed .

to do because.

baby, your back is no paying customers in this room. You are back to.

Thank you, Peter. Thank you. Thank you.

Cheese will be next .

still to come. Unsquared, the property brothers from H. G. T. V. Drew Scott and JoNathan Scott working with homeowner stuck in place. Higher mortality rates have made many stay move to .

hate their house, but then they realized all the additional costs to come with moving .

and is not worth IT for them. The developer entrepreneur brows on how to love a house as a long term investment.

Try find a house that you can grow your family into every time you you lose lot equity to legal fees, you know, taxes, everything else. Find a home that you can fix and make IT your own.

Cnbc has quick and easy to understand business news updates at the open midday and close every weekday. Markets, money and more from wall street to main street. I'm cnbc Jessica, adding to follow and listen to C, N, B, C. Business news updates wherever you get your podcasts.

You're listening to squab. Here's vehicle. Welcome back, everybody.

Mortgage rates remain elected elevated. The average thirty year fixed rate has been above six percent for two years. And it's definitely puts some pressure in terms of people looking to move.

Our next guest are actually talking directly to homeowners who can't move in a new show. They have it's called don't hate your house IT premiers wednesday on hg T. V.

And joining us right now are the property brothers. We have JoNathan Scott and drew Scott who are cofounded ers of scot brother's global. We know you guys as property brothers, but we also know you guys .

as just JoNathan .

and drew s and .

a hand club he.

but you try.

you can for a while.

Is that deliberated?

Yeah everyone said little scrap .

is good and you .

I also didn't cover my Grace to feel more sometimes you, oh, I do sometimes to .

do that for the audience.

I don't, you know, the practical wife gave IT to me. Thank you, Linda. You make me look Younger. But the wisdom is coming out .

today for you. Again, so much money fixing that face and then .

he discovered IT know exactly, but it's it's fun to be worked out two days until we launched the new show. But this is all about the people that they want. They want to move. They hate their house, but then they realize all the additional costs to come with moving and is not worth IT for them to trying to find ways to of your house again to be looking for.

And that's what we think is so interesting right now because nobody would have expected the thirty rates to increase. We even you know right now, there's a massive lack of inventory, which causes housing to become so expensive. We've been harper on people for longest time.

That's why I try and find the house that you can grow your family into. Every time you move, you lose lost equity to legal fees, you know, taxes, everything else. Find a home that you can fix and make IT your own and you're going to be way Better off in the long run.

And that's been a huge icio. You guys have talked about this to the undersupply of housing right now. That's a big part of the problem. People are stuck in their homes. They can find a new place, have got kids living with them for a lot longer than they used to.

Some families love that. I don't see. My wife wants to keep our kids there until they're fifty, and I want to make sure to get their place at eighteen. But the way finding an A D, U or option to have a second income with the property is one of the best ways that people can help offset the housing shortage. There are so many houses that have the ability of a second unit or even a third unit on their lot.

Are you into building your own at or you into? We had a joke. Gba, know we started airbnb on. He's now got this adu business that's blowing up california big way. Yeah.

I talked to do a wild o, but that we acquire a modular builder as well. And that's the goal is I think part of the solution is going to be people putting in as converting IT because not only does that help provide a home for somebody, also provides .

in the way for anybody who hasn't been fallowing along.

it's what is that alternative .

dwells in alternative unit additional except .

for tiny houses. So like they're not functional, most of the codes really feel IT. We're talking about how that they are actually functional for people. They're smaller and IT depends on the size. You're a lot.

but we want to make sure that actually functions.

I mean, there will be anyone yeah, you can have IT, as he said, somebody else might have a man cave, everyone. But other thing that I think is support that only part of the solution because IT also helps offset household income with more revenue. But I think finding ways to do larger build, so looking for non profits, looking for unused city property, things like that, where we can do large builds for multi family housing, that's the probably the most important part of this.

A huge part of that has to be the locals owning was that's not you know there's a patch quilt .

gest is every time they propose affordable housing because I can guarantee you federally and they're trying to find housing solutions because every major city has Brown. Every time they find a property they want to do IT people show up in the petition. They say, no, I don't wanted my backyard. No, forget this. Well, the problem is that affects all of us.

All part of our business is we if we can set up to meet regulation here in california, we can do anything north amErica because it's so tight here. And I find we have a fun that we've launched and were in our race right now. We're looking at a lot of our will help bring cost down for the home, and that's the same thing for us. We just want families to enjoy where they eleven build to afford.

But how much of this is that? What I describe as IT like an airbnb style play, which is to say folks who have their own home in the end eighty years. And the A D U, is really meant as a rental income from yeah .

and that's the thing. It's not a short term mental is not the solution here. Long term rental is mova solution. We need homes for families. We don't need vacation property.

And I think we've en a big bank back on that industry as well. Where of areas are not allowing you to do the L, B and b style thing.

particularly like where here in new york you go on tiktok and you can learn very quite. I mean, my kids are always like dad. We should be, you know, arbiters. The airbnb business, we knew if you went to place you and went on a long term basis and charge even more on a short term basis, this is a huge market. You watch those guys and say that's crazy or do you there is .

opportunity there. But the thing is, you mean there's also a lot more network that, that goes into short term. You can get a premium. But I personally mean, with the portfolio I have out and sure that we're even investing is just a lot more affordable than california. And then also up in canada, we're looking at long term and these are all going to be we have single families and we have malls is all going to be rental properties, but it's reasonable Prices.

By the way, if you're getting your real state advice on tiktok soly on tiktok.

this is this is a PSA for anyone that's sure. And family .

members be no people at their giving advice of no, no purpose giving if .

they tell you about all the doing of dollars are making yeah .

exactly as they live in their parents basement. Great tie back. But the one thing I think is very important is we have learned this because we started trying to do the git rich quick to fit properties flip here when we were eighteen years, always started after being in this business.

As long as we've in this business, I don't even know how old I am now. Thirty or twenty five years, we've been in doing real thing. The one thing we've learned is or if you plan long term, you will be more successful in the end. If you're trying to do to get rich quick, you'll have more stress, more idea and you will not make more money.

Let me ask you guys about inflationary Prices, not just in mortgage is being higher, but just the cost of everything IT takes to build a house, to do a renovation has gone up. We saw so many people who were thrilled with trying to do these renovations when we were reluctant because of copy, but we inflation Prices had up. Would you be the one who would be doing a little bit more of like buying the number and getting involved in the pricing side of?

yes. So that was a huge problem that we had because not only we had everything from covet surgeon, lack of trade, trade costs is is actually probably one of the biggest things. So we're seeing a lot of solutions come out that require shorter times on build sites because the labor costs are so high, you're going to see, which is part of what our fun is investing as well.

You're going to see new service providers, platforms, technologies as well as products. They're going to help bring down those costs. Things did level quite a bit after the supply shortages as canal that stuff, but you still see that we're probably thirty, forty percent .

higher than we were. And we're investing is is every aspect of home where you can find ways to reduce your shipping costs and labor cost, again, with our panel zed system for housing, this real real units, real houses, but we can stack these panel yed systems four, five high.

And I think kidding outside the box, thinking differently for how you build, is going to help a lot of people get into investing in a second home when at or even a full building, this more affordable than what's out there in california we ve been talking to, i've been to in to the city and they're trying to find ways to get the cost down because right now we're paying about a hundred hundred fifty thousand dollars per one Better minute to try move. You've lost the street. That alone is ridiculous. For a one Better unit, have to pay eight fifty. So we're trying to help find solutions with what are what we can bring to the table.

What should we expect from the show again, the show starting in two days.

You see, don't hate your half the proper. It's like people who are at the end of their rope, they do not know what to do. They are ready to walk away from these houses, walk away from the problems.

And we're trying to save people. I know it's frustrating. We're going to get you through.

It's almost like DIY therapy. But you will see us we're going to tell people how IT is. You're going to, to see people have break downs, people that are losing their minds.

We do that. We did the finale of this season is our parents home because we moved them to sana. Monica IT was a two episode art that we did.

We definitely didn't want them to hate their home because they were living in their dream home up in the rocket amounts in bama, canada. And they came down here to be close to the grandkids. So mom, you had a long list, have once in that house.

but I hope you got a right. I think are you putting a strong buyer home deeper? Is that basically now I looked at IT.

It's only it's just often all time. So you the whole trend is going. I mean, you just saw me on home be poste. You you're going to .

see a drastic change and how a lot of these major retailers are Operating. Now they are throwing out the old playbook. They are looking at new ways to engage, particularly with a Younger consumer chAllenge is very hard for Younger consumers to get into real state now, but that's the big thing right now.

We've been approached by many of the major retailers trying to find ways how can we get them in the story. And I think part of IT is going to be content driven. So back to tiktok, you're going to see a lot of social media live selling things like that. You going to see a surge of new innovation to try and get Younger people who aren't necessary going into the store is often .

that's why they like a brand like us because we own a production company. We also have an in house digital and editorial teams. They want content badly and they want faces that are known for home.

Guys seem .

like are .

those guys .

are home. Some people are great, but brows that we're .

going to unch yes, I don't feel comfortable and either ah no people well, I mean that that's that's where .

they gave you the SHE .

yeah everybody ship in their strategies a little bit.

I think you're going to see a different way that home people's marketing los as well. I mean, lose, has they have an a tech incubation in house? If you've been there, I have been actually been there. And this is pretty amazing to see what they're investing in.

what they're trying to bring. I've said i've actually been to both headquarters. It's obvious an important part of our business and we at twelve and half thousand products that we manufactured. And so one of the things i've been saying for the longest time and one of them will figure IT out, why don't we do a series of workshops across the country where we show up because everybody .

because .

show people how to do something, let's engage with people who want to fix their home. It's what our brand is about. It's what the new show is about. And I think that would be really great.

Thank you. Want to thank you guys very much. Again, the shows out .

in two days. Yes, thank you. Don't hear your house.

And what's .

the podcast for today? A new week. Thanks for starting IT with us. Squad box is hosted by joe carne beek and Andrew ross san. Tune mornings on C, N, B, C at sexy series and get the best takes, analysis, interviews, jokes, whatever from our T, V show right into your ears every day. When you follow squad pod, whatever you get, your podcasts will be the right back here tomorrow.

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