Car buyers are stretching loans to seven years to afford a $787 payment, almost one in five families with debt was late on a payment last year, and Bank of America just got fined $1.2 billion for money laundering violations. Meanwhile your lender needs a letter for a $400 Venmo.
In Mike's Mind from Market Update 196, Mike Mills runs through what he can't stop thinking about this week: tariff refunds going to Apple, Nike, FedEx and Amazon, Amazon and Alphabet selling about $70 billion in bonds since July (and why that competes with your mortgage for the same investors), the dollar-shortage theory, the Texas Stock Exchange, Austin's property tax rate, Gen Z putting retirement money into sports betting, and Congressman Eric Burlison's UAP post.
Full episode: https://youtu.be/i7wKgnDZIzk AI segment, the listing that sits: https://youtu.be/HuDRN97ip7s Podcast: https://www.thetexasrealestateandfinancepodcast.com/stale-listing-strategy
Chapters 0:00 Two tech companies outborrowed the developing world 0:26 Inside Mike's Mind
0:47 Seven-year car loans
1:07 1 in 5 families late on a payment
1:28 Bank of America's $1.2B fine
1:51 FinCEN and the green team
2:12 Tariff refunds
2:32 $70B in tech bonds vs. your mortgage
2:54 A global dollar shortage?
3:22 The Texas Stock Exchange
3:42 Austin property taxes
3:55 Gen Z betting the retirement
4:20 Congressman Burlison and UAPs
4:48 Jay Stratton on Fox News
Sources: CNBC (Edmunds data); Federal Reserve; The Wall Street Journal; Betterment Gen Z survey.
Contact Mike: mike@mikemillstx.com | 817-689-6079 Mike Mills, NMLS #756263 · GVC Core Community Mortgage · NMLS #2334
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