Full Show 4-21-17

Full Show 4-21-17 by The Financial Exchange

01:51:30

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and shut sun out. You're exclusive look good business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Many of the topics we discussed on the financial exchange or subject to debate. We can talk about while we're gonna talk about tax reform today should it. President be focusing on corporate tax reform or should be focusing on personal taxes one. But here's a topic that is not subject to debate is the housing market. In the housing market is as hot as a firecracker hi everybody it's Berrian truck with you here on Friday moments ago chuck. We got existing home sales data. And what I've seen on a local basis seems to be systemic on national scale. Yeah what we saw here was that home sales existing home sales for. The month of march rose four point 4% compared expectations. Of two and a half percent gross so housing continues to be. Not pretty strong and pretty consistent at this point. I've the end most sales are existing Witten what I buy about 90% what I find remarkable about this statistic chuck is. I keep waiting for did decline because IQ you beat the inventory levels. Our lol and that's a statistical. Analysis you that that's not subject to debate you know look at inventory levels. They're down the you have less homes for sale today that you had a year ago yet a lot less than you had two years ago. And think about five years ago folks go back to the year 2012. Picked you couldn't give away house raided 22012 was a terrible housing market 2010 was even worse. So we went from this. Absolutely horrid housing market. And if you had to sell your property back in 20920. Hander allowed new sort of talking about me it was just an absolutely horrible time. And now you go to apartment it was we'd never seen inventory levels. Slot no you're seeing you throughout I'm looking at statistics from Massachusetts right now when you've got less than three months of inventory. When you look at the entire state there healthy market is typically somewhere around Ford at around 56 months that's what you typically looking for. In terms inventory levels of inventory levels continue to be very low homes that are on the market. Typically are being snapped up pretty quickly what you're seeing right now this is amazing right now. You were seeing single family homes them the most recent data I have on this is from November single family homes in Nokia sold in November. They were on the market for 75 dates. Okay now you look at that you compare that to a year before so November 15. Average homes on this on the job market for 95 days okay. So you've got chopped almost a month off in terms of the average that you're looking at there in when you get around urban areas when you're talking 2030 days. Mostly down night I'd I'd find it remarkable all drive around town and you know you're doing guarantee drive you know the same route often. And I'll see a house go up for sale and then. Days later not weeks later not months later yeah case later. Elect me I also that house for sale on Friday. And I'll see an under agreement signed for a moment on Monday yeah it's it's remarkable I I've just never. I I I've lived here in New England for thirty years. I've never seen housing market like this I'm told the buy it when I talk to realtors I'm told that it was like this in the mid eighties but boy it's. But I there are a lot of shovels in the ground I don't see a lot of these single family homes. Being built a driver on the community which I live in there's a few are today I see couple being torn down but those are terror that was our relief is not new inventory person. So I've I've got one small point of contention on on housing at this point it's it's not a major concern today but as we go out over the next year so. It's something that I'm gonna continue to monitor. Average down payment yeah okay by percentage. What we saw was during the fight lead up to the financial crisis you look kind of 070 wait no we got down to around twelve and a half percent being the average down payment oh OK okay. After the crisis okay you go take a look at it 2010 to 2013. We spiked up to bat 16% being the average down payment sixteenth okay. Today you're back down around fourteen C you're starting to see a real trend towards lower down payments now it's not a huge problem. Just on its own as long as you still out you not going back to in the you know loans where no income no lasted verification no. No but you raise a good point there in here you raise a valid point John because at 14%. If you get a 10% price reduction. In the market rate up if they say unemployment spikes and Ian 10% decline you're underwater because gonna cost you five or 6% to sell exactly so. You know it's it's just something that I kinda like to watch I don't think it's a major concern for now because the rest of the data seems to be fairly robust at this point. But it is something that I I kind of keep an eye and saying okay you know what are people actually putting down because as you mentioned look at your putting 1618%. Down. You see 10% correction you can still sell and walk away at least pretty much break even. But if you're always putting 1012% down you see that as you said you're underwater you sadness and when I'm stuck in a place that I don't necessarily want to be some. And I've always done and I'll just make I don't give you a lot of advice during the show it's not my role to be your financial advisor but I'm gonna give you some anyway. When you go out in you buy a house and I'm speaking to Tucker and trucks generation here if you're millennial and you're out there buying a house. And maybe you're putting down I don't care you're putting down 20% you can buy a house with as little as 5% down. When that mortgage comes in and I told my daughter who's just making her first mortgage payments. And I want you always always to make a little extra payment on that mortgage so the bill comes in and let's say your your mortgage payment with taxes and insurance and everything is 2200 dollars rounded up to 2500 dollars to get in the habit. Of paying a little bit more on that mortgage. The the the impact that it has in the short term truck it's it's gonna have very little impact you know it over a year to year period time. Needed negligible in terms of the when he can impact it'll have on your equity. We're really matters is you get out talkers 710 years. All the sudden you look at the equity you've had your house in saint. My mortgages come way down and some of the guys and after tenure purity time Mike properties got way up and I suggest that. A little extra payment and into giving an idea of what god this looks like the average mortgage that we have in America today is about 200000 OK okay that's that's what it looks like. So if you run amortization schedule says okay if I don't make any extra payments what is it end up costing me. It'll cost you 143000. Dollars and interest over a thirty year loan. At 4% in order to do that. If all you do is you take a hundred dollars a month and make an extra payment of just that hundred dollars a month yet instead spending a 143000. Dollars and interest down to 116 you saved 27000 dollars over that period 2000 bucks a year now. Is what it averaged out to just with an extra hundred dollars a month. See my logic isn't even about the saving of the interest my logic news. You'd never know they keep your in the process giving even bought your first house you're about to move into your first house and hear your buying and I know you've bought this house struck you said. On their raise my family here in its how's the I plan to stay in for a long long time. Terrific yet critics it to 300 bucks a month on the mortgage and what you'll see is ten years later you'll have a lot of equity. But we thought my wife and I bought a house and admirably moved to town and these and all this is our dream house are gonna stay here. Well eleven years later we wanted to sell it and fortunately we had been thrown matrimony yeah. It just gives you a lot more equity. And if it's only two or 300 dollars a month of extra bit payment that you're making on their mortgage you won't miss the idea that you know you're not going to be the situation we say. Well honey. We we can't afford to go out to dinner we can't afford to go on vacation 200 bucks a month in the big scheme of things is not a lot of money. Debt than any. Again it just gives you flexibility. Should your situation change for any reason. Whether you want to change jobs down the road whether human voluntarily have to change jobs down the road it gives you flexibility if you've made the exact. I'd say it's a wise thing to do hate the out the White House Steve minutia and I happened news catches a presentation he was making use being interviewed. And Steve munition as you know is the Treasury Secretary. War Donald Trump he serves that Donald trumped pleasure as Treasury Secretary. He came out yesterday and said we're gonna do tax reform we're gonna do tax reform corporate tax reform prior to the end of the year. And we're gonna do personal tax reform in 2018. Well I gotta tell yeah I'm not sure they're gonna do either form of tax reform he we we've seen no evidence that the minute they get legislation through as of yet. But my. Question. Everybody is this. Would you rather see. The trump administration. Focused on corporate tax reform or personal tax reform. I know it whenever you talk to the economic Ph.D.s in the tax guys in the Larry cut both of the world who tied Perry got to do corporate tax reform first. The corporations didn't bowl corporations didn't vote for Paul Rhine corporations didn't vote for Donald Trump corporations didn't vote for pants. We vote right we use people vote I think in my opinion. They should do personal tax reform first and at very least they should do personal tax reform in conjunction. With corporate tax reform that's just my opinion but I would like to know your opinion. Go to our website its financial exchange show. Dot com and participate in our poll question if you would the reason I'm asking is very important that you participate in this poll. Because. Later in the show we're going to be joined by Larry Kudlow and I'm going to share the results of that poll with Larry. It's important that Larry knows because he has the ear of the president he is giving the president advice as to how to approach tax reform. Will let him know what you think. But in order to know the answer to that we need to go to our website financial exchange show dot com. Chuck have you ever heard of an X herb. I had a look at up this morning when you're out when he gave me the story actually we we are going to be talking about an expert on a suburb. An expert that's our next topic will be joined by Karen Harris from Bain and company that talked about. Excerpts didn't even know what they work until earlier this morning that's next from our insurer matched dot com student. Barry and chuck have the latest every day beginning at ten only here on the financial exchange RealNetworks. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know you're paying for your mutual funds to understand the difference between the ongoing yearly fees and the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is very Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these these so call now 803934001. Thing get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange show dot com. Juries are for to securities America incorporated member Finneran SIPC and advisory services are for to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. As we age the state planning and asset protection become a Paramount importance of maintaining a happy and successful lifestyle many families to go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful a nursing home stay can judge your financial wellbeing and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in a similar position in the meantime let's keys brand new guide to the risks and rewards of real estate ownership. A senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com or go to download your free copy instantly that's legal exchange show dot com. Hi everybody very Armstrong here from the financial exchange and I'm joined by. Leader bank does a tremendous amount of mortgage loans as a matter fact I've used them a couple times to refinance properties in the past. Jake how's the mortgage business these days it's been an extremely busy Berry. There are a lot of people buying Holmes. So that's kept the purchase market very very busy you know on top of that rates are still an all time lows we've a lot of folks who are refinancing their homes either get a better rate or both of cash out because of properties appreciative. That's us and asked how does somebody know whether they should call to refinance. Well you know. There there's really 22 ways if they feel that the rate can be improved. Give history. Am and you know thirty year fixed racer all time lows. If you have anything in the in the 4% range frankly give its rate in my view would be something. Or if you need to take some cash and of your property wondered for a college tuition for kids or you guys have home equity lines of credit we have home equity lines of credit as well and the cool thing about that is. If you already had a great read on your first mortgage you know home equity line of credit which will leave your first loan as it is and allow you access the equity. Makes an awful lot of sense and you've got fifteen year fixed rate mortgages by your adjustable rate words all types and hopefully we we have all types of that in addition to that were actually very active Jumbo lenders so. And properties have really appreciated in the markets in Massachusetts. There's been hired me for Jumbo loans that we do a lot of that so last year Berry we are actually not the number two home purchase minor Massachusetts give for you congratulations. Folks let's take toll from leader bank they can be your mortgage bank call them toll free 8776917900. You can check out all their rates online at leader bank dot com. Or you don't talk to human being given McCall they have loan officers standing by right now 8776917900. That's toll free. 8776917900. Security suffered two securities America each member finreg SIPC an advisory services arbiters securities America advisors and carry on from representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges of live on FaceBook so make sure like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. This segment of the financial stage brought to you by your bank you're looking to diversify your portfolio. Precious metals are Smart investment gold and silver bullion coins are now available. It all leader bank locations call 8776917900. Or log on to leader bank dot com. For more information. We're joined now by Eric Harris from being in companies talked about a term we'd never heard before expert eye care RU. Thanks for joining us Kurt tell us about the research that's being done at Bain and company regarding. Well what I thought was a migration to the cities it turns out I've made the wrong. We've seen it and it made it big and globally at what about it. That's how it drives economic growth or it. The United States said it aimed at that actually. Me are in it that week I'll. Urbanization. That they are continuing to grow but at a lower grade. At and T at and hadn't. That the US population. That only people left. Indeed and moved out what you can't. Do that that happens that the actor legitimately be out there out. The community at it that way. Play the beware if you stick it in an Indy me. You'd probably rather not be doing. What you and your do you think you define that as being fifty miles right. Right now it you can use it it getting close to our net. Would rather live work play close to again are to me and me back it. In what you're your study shows is that trend is started what in the early 1990s. Where people are just saying I just don't wanna be. In an urban area I wanna be out in the country. People would occur outward pay. It is that old old you'd decade. The growth and global capital. Accelerated. Though it ninety. It took heat heat heat that it. Every. I'll real. That it currently at that. Today that Clinton. And he went and that car at all. We've seen in the market that you use in real estate had gone through the group that you think about getting an example that I day. At half or even apartment in the back bay has gone up. I even Q. Q green it possible for people. Bidding in the kind. Think that you want apparently has become increasingly expect that the people are born in the partner there. And there. That. Because in the US aid Jerry Kane double a Erie while it bigger and even the babies and it and it. If you're single and here it one bit. People were legally in the group that I carry on board partly and how they. And though. The ambulance. Really get the result. That group. The young single and now that there is that we here on long term. And what are they doing for work. If you're living 52 miles away from the city at their jobs. And that is. It particularly. Basically a lot of light and quick bit new Bentley. The lack of people didn't have to work could be group. Think about what it needs to decide I'll get 200 year old technology. We get people invented to get labor click the actor is Iranian backed elaborate. Don't we need to work around our people most of our. It that they did it that we get disoriented. And even for a big company did not a lot of meat in your legal department in the same building marketing department you're looking. For it. And that people working. Ali yeah. And technology. Has enabled them to work more flexibly. Said the company didn't. I have me in the batter. Kelly you and it absolutely than any network are on the day other than that more and more people don't need to go to Q at any. Top allowing them to work group app activity that they are and what they're doing the work. They needed oxygen at it. Karen I read about you know people working from home in the advent of technology and better Internet speed. But then you know I look at a company like travelers they tried that and then they brought everybody back in or Aetna. You know they said OK can work from home but then they wanted everybody to come back into the office. So is that trend here are you seeing more of a trend towards people working from home in rural areas. And not end it rural areas that we're talking you would be about how great we're talking about critical. With a block of all I had to meet you we tell you done it yet it like that. It eat at California. Then he. Or eight people in it in Turkey and hit it and put it. There it eight kilometers away may be better at all. Companies that are performing. Accompanied them. We talk about that and inherently hasn't been on the permit that he picture that you a bit dead. Let me every option that fairly. At the same way that certainly. They are that it. Hit it in the off day. Why do. I think technology. And actor yeah probably I don't write AD I don't get me into it and it. It is Aggie. That. Don't need the printing and paper. Ed but certainly I'll play. God god Karen thank you very much for your time we appreciate. Changing society but boy you look at it you know leave and I guess the problem is we happen to live. In a big city like Boston and I see that the population of Boston is increased dramatically. Over the last ten years yeah I mean it's I think it's tough to get out of your local ball when you're trying to use some of the meeting about Hartford in New Haven. Then Providence they have not experienced the same type of population grows no it in and I think part of it is that while tech. What's interesting about the change in technology that we're seeing is that even though we have the ability now. To communicate much more rapidly across beat the greater distances and we still seem to want to be packing it tighter space it's. It's it's very interesting to see that is that even with all that accessibility. We still want to be closer yeah. Hey when we come back we're talking about. The IRS enlisting private debt collectors to recover money will now be extinct. That and more coming up for march or match dot com. Making your Smartphone even smaller here don't know mobile lab by surging financial exchange joke in nineteen Jordan who. Who played stores this is the financial exchange radio network. Time for bank the pays you with liter maximum reward accounts in 1% cash back with a debit purchases and an extra 10% back when you use your card and feature businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month. To learn more call 8776917900. Or visit leader bank dot com minimum to open and earn annual percentage yield ten dollars mass prison until late fees may reduce earnings rate subject to change without notice member FDIC leader bank. A step ahead. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know you're paying for your mutual funds to understand the difference between the ongoing yearly fees in the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is very Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange showed dot com. Juries for securities America incorporated member SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated many of you listening today are either retired or preparing for retirement investing in the market can be as safe strategy to develop growing assets and income to keep ahead of inflation but here's another investment you can make that may also help you achieve your financial goals if you invest in solar energy you may see double digit returns and growth call alternate energy today for a free solar analysis for your home or business at 8559120115. A well cited solar system turns out monthly dividends and reduced electric the best part is that these solar dividends aren't taxable. 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Hi this is Barry Armstrong and I'm here to tell you about a new dental product that will make your next visit to the dentist much more enjoyable live beyond its dental jail is revolutionizing the dental industry a recent double blind study at UC Irvine found that live beyond actual removes plaque two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with onyx you'll never go back to regular toothpaste Leon X contains a powerful anti oxidant that make your teeth and gums healthy and it's safe for people of all ages I started brushing with Libby onyx twice today in my dentist told me he can already see the difference protect your oral health today by ordering Olivia on X ray now call 8559120300. Or order online at best dental jailed dot com you mining buried and you get a 10% discount off your first purchase call 8559120300. Or visit best dental jailed dot com to place your order that's best dental jail dot com. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer mention agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match that before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered so they get all the discounts preferred customers lake you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more. There relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 84499. Match or go online and ensure a match dot com. If you missed any part of today's show not to worry for the financial exchange showed dot com 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 list but who had financial exchange show does come. And ask you a favor. I'd like you can go to our website financial exchange showed dot com it's important. More important today than in previous. That you participate in our poll question and the reason being is we're gonna share the results. You record. As with Larry Kudlow and the question today is should congress pass personal tax reform. Prior to corporate tax reform very important that we have yet to to that question. Again the website address is financial exchange show dot com. Alpa chino turned 77 years old and a few days there were doing he will be the topic of today's trivia questions. Which athlete server as the inspiration. For the name of Al pitino's character in the 1983. Film scarface. 68680. Is our text number first listener with correct answer wins the 25 dollar gas card. What is the name of the athlete who serve as the inspiration. With the name of Al pitino's character in the 1983. Film scarface. Which may have been his best work player she saw them on. I DC I actually haven't since her Faith Hill yo what up. Finally and now first time for everything go firms. The irony trying to watch when he sells its fifth with a Bloomberg News documentary. It started phase. The Roosevelt. Anyway I digress I wanna talk about the Internal Revenue Service the Internal Revenue Service. Is enlisting debt collectors to recover overdue taxes I was shocked at how many. Outstanding tax bills fourteen million people old money to the federal government tax. Not a small amount and what you're seeing here the reason for this move is that they think that you might see. And outside tax collectors being able to do this more efficiently potentially recover more money my big concern is. What are these tax collector not tax collection debt collection companies. Aren't necessarily the most unscrupulous people and I worry about the quality that you're going to end up with. When you have some of these companies coming in to do this work here it is not something that I know fight trust completely. Well we've tried it twice before we as a country. Now try to in 1996. And we tried it in 2006. And both occasions he failed miserably. It did not work yes it's you know you you had people who want one of the stories. There's an older couple who received a 150 phone calls a month it's five calls a day and it's like. Look I get that you haven't paid your taxes. Blocked. But that's that that that kind of behavior not normal well the the fact of the matter is the I I think. You know on one hand you get frustrated by the fact that fourteen million. Americans like I am still dumbfounded by the number amazing isn't it it's a 138 billion dollars now it's fourteen million accounts of some others may be corporate accounts I suppose but. It's still fourteen and that's just federal taxes. When he is I think Eleanor have made our old state. The thing that I find amazing is out of that 141000001. Point eight million taxpayers have debts of the iris is pretty much written office on collectible because of economic hardship. So you know. It's like 14%. Of the people who have outstanding liens against them. Effectively the iris said look we never gonna collectors so with the irises doing the turning over a 140000. Accounts. 24 companies therefore collection agencies that will be hired. And all of the amounts are 50000 dollar for life that run or less. The logic. Is that. The collection agencies are more streamlined or not government workers in that the be more efficient. In the collection of those taxes I questioned him because I think about the IRS. In in my dealings with the IRS they're very quick to Garnett right is I've seen them. You know stepping in it they know where you're working right you think you. Let who's got more information on oh they've go the information they've got the ability the ability to go winning guard you know if you're getting a Social Security check they know for getting a paycheck you know where it's going to be. They paid no so much about you if you're on somebody's heralding a worry are well in the other thing as you mentioned earlier both times that this was tried before work. The company is doing it lost money action so if it's not like it was saving the iris money when they were doing this so. I'm not sure about this if it makes sense. To do I'm skeptical not at the outset. But we'll kind of see how it goes over this year but based on past track record I'm not optimistic. 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Or order online at best dental jailed dot com use mining Perry and you'll get 10% discount off of your first purchase call 8559120300. Or visit best dental jailed dot com to place your order that's best dental jail. Dot com. Well this is a bad story for over. What I learned is in and I'm curious as to why. But only 4%. Of Lowber drivers remain on the platform. One year later. Yeah this is something that I don't know if it's a huge concern for them actually. And the reason is I wonder how many of that 96% who don't. Never did anything anyway someone like myself who look I signed up for the platform to drive I went through the whole process. I'm not out of any more just I never actually did anything. You know all I know is that I I continue to see the number of Hooper drivers increasing when they talk about how many drivers they have you know. And and you talked and you for drivers out there and they say ought to at least be able to make money and other so much comp. Tissue is. That's been my experience I I know three bluebird driver's personal raft I had an opportunity to sit down with a nod and car. But just face to face sheriff's haven't copier summit got up. And all three of them have said to me. It's not particularly. Financially rewarding one doesn't he's retired he just does it to get out of the house in the Mort seagate gives us what to do between. You know seven in 10 AM. But he said financially said hey you know what I'm not sure make him any money on it when you consider the depreciation elect. Yeah I see a lot of people that when they factor that in they say look I might be making 1012 bucks an hour yes when it's all said and on their soap. Yeah over I think that they they have a real issue trying to bridge these next few years until they can get autonomous vehicles on the rope is part of it. The number one complaints from drivers we don't make enough. The number one thing when you talk drivers say they they keep cutting rates they keep cutting into what we're able earned. I'll eventually get to a point where it's just not worth it. So. Oprah's got they've got some work to do the next few years to to try to bridge this gap to driver was technology boom and look. We talk like you know it's it's going to happen in a few years. It might not ready for prime time that's the best could still be ten years out yeah is to be twenty years the other thing to remember is and we've talked with a number of experts on this about that driver was technology. Ever states different you might be able to get things set up in Massachusetts easily but Connecticut. Gives you all kinds of a hard time you might be able to get things set up in Nevada California says and we don't want anything to do with. It's always longer than you think it's going to be that is if it never is never faster rate is kind of like when you're building how's it always takes longer than you think it's good yup. Ari this is your last chance to participate in our poll before we're talking to Larry Kudlow should congress pass personal tax reform. Before corporate tax reform vote on our website financial exchange showed dot com. So far 75 point 6% of you think yes I want personal tax reform done first 24 point three. Saying no I want corporate tax performed on first what do you want financial exchange showed dot com is where you go to vote. Larry Kudlow will join us next from our insurer match dot com studios. So let's first attempt at Health Care Reform passed failed. Can he pass tax reform before the end of the year keep it here with the battery and chuck for the latest on the president's agenda and how the markets are reacting. This is the financial exchange radio network. Your financial strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insure a match agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match that's paid for for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered who also did get all the discounts preferred customers like you can qualify for call insure a match to compare multiple rates in carriers and 844 and 99 match let's 8449. B nine match insure a match works with the leading carriers in the industry like Plymouth rock and more. Their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a match dot com. As we age the state claiming an asset protection become a Paramount importance of maintaining a happy and successful lifestyle. Many families who go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful a nursing homes they can judge your financial wellbeing and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in a similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. A senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary Texas called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or logon to legal exchange showed dot com or go to download your free copy instantly that's legal exchange show. Dot com. Armstrong here and I'm joined today by estate planning attorney Todd lots from the law firm of Cushing and Dolan and we're talking about. How old rules state. Specifically Todd what I wanted to ask you about it what's the best week. Old rental property I've got clients had bought rental properties the last 3040 years and it accumulated a lot of it. In the old and it invariably failed summit jointly something LC it's it's like a hodgepodge. Of ownership quite often. Sometimes they clearly when it jointly with children which could even be worse than than any everyone's human you know please don't do that but. I think what real estate with rental a realistic bury that the really the best thing to think about is your creditor protection. And that is not only in your name but owning and limited liability company connectors it's LLC people heard about them. You take your property is road and you take back share you know it's just cure that you and your wife. And then you put your shares. Into your trust either you revoke herbal or your irrevocable trust depending on your objectives. The reason being is when that person slips and falls or get her drunk person leaves and hurt somebody. They're gonna sue the owner of that property. In the owner better not be you because and all your assets are exposed hikes. But if it's owned by the LLC. And they're gonna sue the LLC and not the shareholder you know you. And they can only get. The building that's in that LLC. Way better form of ownership for rental property. Tell you what it fueled rental property I would strongly suggest that you call Cushing in dole and receive their guide how to only real state 866. 848. 5699. At 866. 8485699. He wanted to download the guide go to legal exchange showed dot com it's called how to own real state pretty basic but it's more complex than you might think. Call now 8668485699. Today on the markets all day long. And our brand new website financial exchange showed does come could be on the man in protagonist told the markets from pillar to post Olympic financial exchange showed Doug come. According to sources freedom caucus chairman mark meadows has been in discussions. And successfully negotiating with senator Susan Collins in moderate Republican from Maine. And they have been agreeing on a number of issues regarding their health care. That was the voice of Larry Kudlow or at least that was the statement out of Larry cutlass about during the closing bell yesterday on CNBC he joins us. Now on the financial exchange hey Larry how aria. I'm good dietary you. I happened to catch that segment and it. I was quite surprised to hear those words come out of your mouth. Well out there about that. It's at second and I wasn't there but it was reported to me that that congress and meadows senator. Collins were in discussions she's moderate and conservative yes. And they were. Passing through a number of issues. I guess mostly around the if so called an essential benefits that mandate I think the community ratings. I think the pavement for. You pick and help people who have conditions and right now and also Medicaid. That they were negotiating. And moving along quite nicely now I can't confirm that that said because I wasn't there. But it was reported a bit by bit source and you know if that's true. That means if they had contested. Health Care Reform bill would like sixty vote and it gets so into the edit it won't take forever to get through this static over the that it is moving ahead as. Ahead of schedule ahead of the outpost that they can you know try to negotiate. Ahead of the scored so. Hope springs eternal I just wanna get it done we can move by the tax reform but also wanna get it that we can improve America's health system. If you or portable and by the way repeal all I don't know eight or 900 billion dollars worth of obamacare actually. I love the idea but I'm wondering what about the tax credits because I thought mark meadows was very opposed to. Giving out tax credits for people buying health insurance. Well I think at that point it's more of incumbent just more of mis steps. I think. There view it there's too much money that's gone to the top. That should be shifted down the Lawrence. And that you know for budget savings purposes but also. In my view is people may get a couple of 100000 dollars a year for example. In all likelihood probably work for businesses that already provide them with health insurance and if not. This small group left with be able to purchase their own. So I again I I can't expect by every stickers I wasn't privy to the conversation on I'd try to get eight. Freedom caucus member to come on the idea my radio show and tomorrow Saturday led to perhaps clarify. Good good lobby tuned in to tonight is assistant listen in. A guy they also wanted to talk to you about Steve minutia and it caught his interview yesterday. And he's saying hey we're gonna get. Corporate tax for fun reform done prior to the end of the year. But we're gonna put off personal tax reform until when he eighteen what are your thoughts. That I didn't know that that's day it's in today's journal. Ready you know to eat sand. We want ads put our group bought. Art Laffer and Steve Moore and I Steve Forbes wrote. An op Ed in the New York Times. Calling for that. That get the corporate stepped down first it'll be simpler. Easier. Really pro growth is still no business investment going on and create individual. Simplification and reform protection you know I got to by the fact that it is new news to. Didn't wash your juror they well it Peter Nicholas K Davidson and nick Tim roast and today they're in last night's journal. Well they're all good reporters now note. That's good news that's exactly. What our group the committee to unleash prosperity. Want ad. Yes they an addition credit credit Gary Cohn is that. Epic action or will be scored. Dynamic needs with global impact. And no border adjustment. That's well they didn't exactly say that but they all that bad that you are correct. And all that this in my like you need to make this riveted neutral as I've said many times if you take it beyond number which is one point 8% growth. The next ten years and you apply the tax cuts they're talking about a bit. You're gonna produce I think at least 3% growth protect years and you. And that will get too close to 4000000000004. Trillion dollars that extra revenue and I caught the mother of all they report. Broke out everything and just can't tell me that if you lower these facts straight. We knew it that is through businesses large and small. They docket is faster growth now if you approach but it two and a half percent growth year I think 3% would get it back toward normal. But that's the key to this whole you know blockages. That's Wednesday at revenues with respect to reconciliation. Just plug it up faster growth rate. Lily give me the bad news Larry. 90% of our audience voted for Donald Trump you're conservative network of stations they love Donald Trump they voted for him. We asked the poll question should congress pass personal tax reform. Before corporate tax reform. 76%. Of our listeners want them to past personal tax reform prior to corporate tax reform. What say you. Well eke it out. Black a lot Paul a question about it all depends on what your ass. Now if you re afraid that my that you said that. 80%. Individuals. Who wrote in their own businesses don't run. Or operate your own business would get relief from the corporate tax reform which do you prefer that the comfort not mention yet would be yet. I would there's big at like. GD. You know person the average middle class person yeah when the reality is. The corporate tax reduction for large and small companies seek court escorts partnerships whatever. Affect. Middle income wage earners there the biggest beneficiaries. Well I accurate that people are clear on that. Okay season it's a missing easy to miss interpretation but beat the Al Taylor what Larry politically. They'd better do personal tax reform because they'll get crushed in the election next year they don't. I don't know I I'm not so sure really. Sure because. As I think most Americans are employed. Either by a large firm or by themselves Bob Americans frankly self employed. And if they realize it they would get a tax break a large tax break. 50% tax cut but they forty to twenty you know on the tax I think it like that very much. Dull. I don't know it's a tricky business although they used you. Personal action or will be much stock for the corporate so. Go for companies to get and it covers the vast majority of the working population. I think people would understand. Legitimate point and then the marketing year has to be very very expensive and that the people understand. What we're talking. Bring our Larry thank you very much for your time. Much. Larry Kudlow senior contributor to CNBC. Explaining. Why he feels corporate tax reform should be done prior to personal tax reform. I gotta tell you I love Larry I'm not buying but I just I I I talked to my friends I I. I I've I've got friends that don't car dealerships I've got friends who are doctors and friends were lawyers and they tell me. These are guys that the only guy owns his own car dealership. Number of he wants personal tax reform. I mean the big thing when you look at it in here's part of the reason why you're not concede personal before corporate. Is when you look at where most of the revenues for the federal government come from Parcells. You know corporate taxes make up depending on the specific year. Anywhere between ten and 20% of all government receipts in personal tax make it between sixty and 80%. Well thanks for tuning in this hour of the financial exchange on a day where well heck we might as well not even give you a market update because of downs down a whopping two point or illustrated fifty dollars and 44 cents a barrel. Tucker Silva tax audit and Barry Armstrong from our insurer match dot com studio. According to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know what you're paying for your mutual funds to understand the difference between the ongoing yearly fees and the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is very Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange showed dot com. Juries are for two securities America incorporated member finreg SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making music faster closing call 8776917900. That's 8776917900. Or visit leader bank dot com. Member FDIC equal housing lender and the lowest number 449250. Subject to credit approval leave your bank a step ahead your dream home is within reach with a Jumbo mortgage loan from leader bank there's jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by your bank's local underwriting processing teams for additional information call 8776917. To 900 that's 8776917900. Or visit leader bank dot com. Under FDIC equal housing lender and Miller number 449250. Subject to credit approval leader bank a step ahead you're financial strategy has to include a thoughtful insurance plan. Insurance exists to protect your assets our friends at the insure agency can prepare personalized plan that gets you the best coverage at the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered we'll also dig out all the discounts preferred customers you can qualify for to compare multiple rates and carriers and 84499. Match 8449. nine match insure a match works with the leading carriers in the industry Mike Rabelo Plymouth rock and more their license for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 of 99 match or go llama. Costs of mutual funds that is actually free guide or giving up for the month of April. And chuck I wanna talk about how trading costs and other fees impact returns for mutual fund investors. Yet this is one of the big gut things that I think is kind of an unknown for a lot of people a lot of folks. Who do invest in mutual funds that familiar with the concept of a front end or back and load their familiar with the concept of an expense ratio. But what they often don't understand that there are additional trading costs that mutual funds have to pay either in the form of mark up. Bid ask spreads whatever it may be. That aren't necessarily applied. In some of those familiar ways that people typically know is this not disclosed clearly to an industry because that's. I think this is the point of confusion. You know somebody buys a mutual fund. And lord forbid they try to read the prospectus which is confusing in its own right. But often times I. I think it's even difficult to find this even when you're going through the prospectus it can be difficult to find it and I think that's one of the biggest reasons why people need to be able to go in and take a close look at their portfolio because oftentimes the individual investor doesn't know where to look. Sorry. That's trucks audit Chiming in with his thoughts on the hidden costs of mutual funds there's a lot of them. And you may not be aware of exactly what you're paying associated with mutual fund investment. If he'd like to get a copy of this guy it's called hidden cost of mutual funds call 800. 3934001. That's 800. 3934001. Download it right now from a financial exchange showed dot com or call told free. Our office phone number is 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services suffer through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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Leader back a step ahead as we age the state planning and asset protection become the Paramount importance of maintaining a happy and successful lifestyle many famously go through this process stink about transferring their home to their children to protect it from a nursing home if you're not careful and nursing home stay can judge your financial well being and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in the similar position in the meantime let's he's brand new guy got the risks and rewards of real estate ownership. The senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show I've come. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinancing is all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step. Hi this is very Armstrong and I'm here to tell you about a new dental product that will make your next visit to the much more enjoyable live beyond its jail is revolutionizing the dental industry a recent double blind study at UC Irvine found that removes two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with you'll never go back to regular toothpaste Leon X contains a powerful anti oxidant that make your teeth and gums healthy and it's safe for people of all ages I started brushing with twice today and my dentist told he can already see the difference protect your oral health today by ordering Olivia on X now call 8559120300. Or order online at best dental jailed dot com you mining buried and you get a 10% discount off your first purchase call 8559120300. Or visit best dental dot com to place your order that's best dental dot com. This is the financial exchange with Barry Armstrong and shops are. You're exclusive look at business and financial news affecting your date your city. Your world and stay informed and up today about the economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. On a normal day out to US stock market update when Marion Dow's down fourteen points it's not even really worth talking about what type what is worth talking about. When revisit. The housing story that we covered in the first hour of our show and who got existing home sales numbers that are through the roof. Best number since 2007. Now and more importantly. In in this something I didn't mention earlier you don't see a lot of new construction. You know housing starts last month were terrible third down. Formats pull candidate edit this kind of weather we permits dropped him but it's not it's not snowing in Florida you know me I mean it's it permits were up. But there is nowhere near enough new inventory coming on the market to satisfy. The demand if you doubt me. If 980 maybe at base there were made your communities a little different but if you doubt me. Talk to the people that work in real state pass your local realtor talked to your friends walking to a real estate office. And first thing out of their mouth would be. Hey would you like to mr. house for sale there's nothing a lot of inventory inventory levels are low throughout New England I take Connecticut's probably the soft the state of the four. I guess I I'd say soon and looking at you you talk about the lack of construction and I think. You know historically. What we see is if you go back to watch 20062007. Where we hit the peak was actually in late 2005 home construction in Helmand to have been built. We're building on an annualized pace of about 2.2 million homes for way too many human. Today we're about one point two I think. Happy medium where when I take a look at the equilibrium point oh probably about 125%. Below where we should be somewhere that one point 41 point five million homes. Kind of gets me to to my happy place as far as how much construction. Needs to be happening so you say okay were one point 25 we know the 250000. Okay. 20% below where we should be in terms of home construction I'm on board with with something like that. You know how it's funny though is if I'm thinking I'm relating housing to the stock market which is probably in the state but people are have no problem. Buying a house. In this type of market. But they sure resist the idea of buying stocks in this kind of market losing it's it's kind of expensive you know leave it to buy stocks but housing. Houses are million dollars I'd better bill than they did a 1000030. Yeah it's it's always kinda interesting to see that and I think part of it obviously just comes down to replacement options and opportunity cost you know when you talk if I'm not buying house I got to read something. Yeah you kind of throw that money away anyone's OK Tom where is if you don't have your money in the market and they are you might be able to invest in a number of different things. I always find I do agree I find it interesting how. When the stock market plunges you've got to sell the housing market players are gonna find some money to buy something you really. White people now look at the stock market same way Tucker I have another infamous prediction to make. Let's hear Calvin Johnson and Johnny in and sell both coming to Ole miss asks him. If I Jhonny Gonzales he signed it got it going Natalie and Morgan Stanley. Definitely has not Kroger to buy whole foods would know. Why no I don't think anyone buys. Whole foods sick ship. I think. It would be actually an interest in play you'd be back in to a whole foods kids if they be if they turn whole food prices come down right. Organic but low priced in a deal with the corporate. One thing to buy a whole foods and if you put for me I guess if you look at where whole foods are located. The are located in affluent markets you look just think about Tucker we UC turkeys they think about the that's still can't help. Why not tell us a lot of time he went to a whole foods. I want want to know why I was hungry. You have to I'm sorry when I went yesterday he got. I don't you guys did not attend Oliver Turkey so when it is so we're supposed to be responsibly can go spend it all your money hole I modest nine dollars and you wanna buy it may sound for two dollars. Not just on this austerity kick now that he's buying house he's married he's homeowner. You know got to be the voice of reason around you speak Italian next thing you know Tex could tell C seven did you know that that that'll be neat though that can't drive that won't be the next let let me tell it it will now be put all of you. Stopping at whole foods turn heat down fifty degrees by sweaters and Lex didn't factor in the view on this morning about noise it's I don't. Turn heat on today it's like I give you five degrees out Obama called on you know they've Wal-Mart is charging five point 8% less for groceries today. They were a year ago. Yeah they really are trying to lie that kind of take it to some of these other grocers. On pricing here. And in particular. That was in the Philadelphia area that each other's prices lower in Atlanta they're down four point 9% California down two point 7%. And really they're going head to head with crow right now trying to really compete on the grocery side of things. And you know Kroger is also spending a ton of money trying to get prices down as well also. You know those two companies are kind of dictating pricing. You and be in the grocery industry right now in a toll in that business. I don't want to try to kept falling knife you pull food out like I understand it the attraction from a brand perspective because the whole foods brand name does mean something and their corporate. But their sales are so crappy and I know decline that's like it's in your rights that we you've got death knell for retailers declining same store sales yeah it's it's it's just tough for me to get behind that I might think the brand makes sense I still like the brand. Because it has value and it means something to the average American consumer mostly. This too expensive for the shop there. But it's just I hit overcome the sales prop. On occasion I've been known to make of predictions that you know. You know Calvin Johnson has signed with the the patriots yet not yet but he's not dead either so there's always a chance of it now and then I'd I'd make a prediction that goes wrong but I did tell you a week ago that I thought bill Riley. Would be shown the door at fox. And turns out as he walks out that door track he's gonna get checked for 25 million bucks. Yet he has taken home must somewhere around 25 million dollars a year. Not getting the full value this contract with the four year period which is valued somewhere close to a hundred million. But between him and Roger Ailes now they've paid out about seventy million dollars 22 people they've let go in the last nine months of this. You know what's interesting is you know the they've had. It was a Dana Perino filling in for a for Bill O'Reilly this week. They knew very well with ratings. I mean look I I understand that you know O Reilly was a ratings drop as I sit through this whole period and you can always find another. There's always another rising stars you can bring on over I was not always bill Riley. You know he he was a nobody at some point to sell the good companies they develop that next generation of talent. Suit Fox News does what they've got a talker who won in their next week Parker growth last night actually. We started last night actually no maybe I have Monday yeah I was I was watch old later on yeah. Four when three reminding me I should not make for the political predictions. Thanks for well actually canisters weakened nose do the opposite that can do whatever we want to bring out the opposite of my political previously design build up so whenever Baird does politically you do the opposite you know perfect. Birth. Well another attractive young lady is off the market I. Love rob they ate it Irish accents and I just thought she was terrific they I wish she was in the limelight yeah she's she gets bogged. She got beaten up a couple times she's retired you know she's not she's no longer fighting I mean that sports is destroys who's the last. Fighter she went down to let him forget but yet we need to close it was over in like it was pearl effect it was like first round like second punch or something like that. But Rhonda is getting married. Yet she's getting married to her boyfriend of two years heavyweight Travis brown. Who's about four years older. And you know again as you mentioned that Shiites in those to get an argument at home. The you'd pick up again but no he's got bigger the just an octagon is definitely an octagon restaurants around that big of a phenomenal. But yes she's she is I think probably retired for good at this point now. If she's she'll have no matter I think your mom said that she's held on the other thing is she had built enough vapor and an optimal portfolio that she still gonna have opportunities in the entertainment space acting acting as well as you know some other options at this in my decent imitating conceived through you know Europe's in other fights. She's gonna be very successful in the world long run with thirty years old stuff. You know it's amazing how quickly USC has taken off. Mean is that dad played built a juggernaut play in it's it's more interesting now it seems to have a better following than traditional boxing. Articles that I mean night in money flowing in the USC. Compared to boxing matches just a lot more interest rate news comes to town people show up that. I mean look I'll tell you Dana White has has built that into a billion dollar brand new lease from on Manchester Connecticut had no idea government. My anyway. Rhonda off the market. And she lost to Amanda noon from that total was 781 thank you and she also lost a whole whole. That's from nights and yet if the idea if they had to. It at all street. Are right up next red be talking to jolt bud from the economist. About parking and traffic in our cities fascinating interview I think it's going to be I I had a totally see driving around our major cities is a nightmare. That's or talking about next from our insurer matched up constant. The battle over the trump agenda continues to affect the markets and get the latest info on the sectors that are benefiting and those that aren't right here with the Berrian junk on the financial exchange radio network. As we age the state claiming an asset protection become the Paramount importance to maintaining a happy and successful lifestyle. Many famously go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful and nursing home stay can judge your financial well being and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in a similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. The senior partner with Cushing and Dolan tunnel break it down for you piece by piece and in turn will help you avoid probate and unnecessary Texas called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show dot com. Your financial. Strategy has to include a thoughtful insurance plan insurance exists to protect your assets. Our friends at the insurer manager agency can prepare personalized plan that gets you the best coverage of the best price call insure a match at 84499. Match let's before for 99 match many of our listeners don't know home and one or two cars if that describes you you're the perfect candidate for free consultation to make sure your property and family are safe and properly covered walls of the get all the discounts preferred customers lake you can qualify for call insure a match to compare multiple rates and carriers and 844 and 99 match let's 84499. Match insure a match works with the leading carriers in the industry like Plymouth rock and more. Their relations for all types of insurance and continued time stress the money with just one phone call and one relationship. Called today 844 and 99 match or go online and ensure a managed dived. Many of us are always thinking about securely retiring while leaving a good legacy not everyone can do this but we are fortunate to live in New England what technology improves and constant come down solar incentives seem almost too good to be true yet if you talk to alternative energy clients they're thrilled with having no electric bill summary been driving their electric cars with free power from the sun imagine free solar power creating our own clean renewable energy while leaving a better world for our children and grandchildren solar is an ideal retirement plan you take the state and federal tax income credits now when your high income years then enjoy high returns for the next twenty to thirty years don't put off investigating solar. The returns could be incredible call alternate energy right now at 8559120115. That's 8559120115. For a free experts solar analysis alternate energy has been serving new englanders for forty years called in today at 8559120115. Or visit them online at 800 DC solar dot com. Hi this is very Armstrong and I'm here to tell you about a new dental product that will make your next visit to the much more enjoyable live the dental jail is revolutionizing. The dental industry a recent double blind study at UC Irvine found that removes two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with on next you'll never go back to regular toothpaste Leon X contains a powerful anti oxidant that makes your teeth and gums healthy and it's safe for people of all ages I started brushing with Libby twice today in my dentist told me he can already see the difference protect your oral health today by ordering on X now call 8559120300. Or order online at best dental jailed dot com used mining buried and you get a 10% discount off your first purchase call 8559120300. Or visit best dental gel dot com to place your order that's best dental jail dot com. Barry Armstrong. Chokes on. Breaking business news every day right here on the financial exchange radio network. Parking is a nightmare. I don't care which city you live in part he is a nightmare. The article is how not to create traffic jams pollution and urban sprawl is written in the economist on April 8 fascinating article. It's certainly as we're joined now by Jules blood. Who operative who put this article together and Jill thank you very much for joining us today. I could ordered Burton told start off first what is eight parking minimum and how does it affect building construction. Yes pocket minimum is is the rule laid down bias that the which tiles. Businesses how many parking spaces by how to create. Very common line which it which supplies in in in most of both the for example is one. Parking space. Residential unit that you're building I can you. Eighteen apartment then you you need to create eighteen parking spaces. Both of them are really kind of funny my favorite one is. Saint Paul, Minnesota on the parking minimum. Look on. Like if I won parking space but at least three nuns in the calm and. It was so every night doesn't get a parking spaces. Now I get the although I guess a you know they did they did take a we'll the the the. But I get I guess that is true so how how does this affect the the number of spaces that are constructed what happens when cities get rid of these park men. What so what pocket minimum usually do you they usually really generous about why you know when you've got to a McDonald's in the the puck in law is almost always bigger than the they get on the McDonald's itself all that Andy Andy Bucharest on. Both guys have been awarded to create much on. So it. Pocket minimum create loads and and let the pocket they kind of a lot that he was with pocket what that means is that it drives the call the parking effectively count is era becomes impossible challenge or. What that means is that essentially everybody drive I mean they it's. Hockey minimums on like the number one reason law. People drop. Well and it seems to me also that if you're doing that what you're effectively. Doing by default and as you're subsidizing that form of transportation even though we know that autos tend to be one of the most inefficient forms that people can take in terms of getting them from point a to point B. Give us. Upon commitment to these subsidized driving and that of course what government is that look at and they couldn't made. You know with the where. You know people that people are continuing to drive and not taking boxes and not taking public transportation so we'd better go back at subsidize the whole book. Our system public transportation and it kind of in you know it is is part of a kind of cool at least for the subsidized. Well and in one of the other studies that that I've looked at in the past is there have been a number that have shown. Then also what governments tend to do and a lot of cases they get into these traffic jams because everyone's driving. And their solution is to build more roads which only encourages more driving what we saw. In Boston in particular when we built the Big Dig for twice its expected cost. Was they were expecting. That you're going to see traffic times traffic decreased by 30% instead it increased by 30% as more people drove. So it almost like they get this cycle than where more people drive just because you have more roads more spaces. Sure oh sure sure sure but if you really wanna stop people driving that is my big argument says that he's trying to lots and lots of things to stop people driving to create. You know at bat the ball that they built buckled buying in say some that he's create congestion on and build up very very. But I had my argument is that really it took it won't. Restrict people from driving not stop at the driving back up it would drop a bit less. That really the way to do it is to provide body your apartment. And make sure that you challenge bowl parking space that when you have shall we joked that. I'm curious how that would work in the United States just because it's so. It's such a car based society that we have here in in in particular you have so many people that have moved out to the suburbs and they don't have access to easy transportation to get them in. What kind of solution would work in a situation like that. No that's exactly right has some weather is really really. Right now I'm just incredibly compromised and how much like my. You know the next bull of a I like Vegas. Yet they get it got play. Yeah people simply gonna draw it it it. Is it that a chicken and the egg problem ID. You have to. That the two things one bit so there's no point. Suddenly charging for parking and not create thing half decent public transportation but at the same time. There's also that point in creating half decent transportation and and keeping outing pocket he can do. People weren't take the public transportation that you create things which is why you know. Quite a the American cities especially in the lab. I create a life well but. He's expecting pitting us if by the way. And nobody takes like well because the parking out there there. Still one of the other things that we're seeing in development is a lot more mixed use development as opposed to. Single use zoning now so. You're seeing an awful lot more where it seems like you've got retail on the first floor maybe some offices on the next couple and then. You've got housing apartments and condos right above. And that seems to be working at least in terms of building more. Concentrated neighborhoods that are more walking based as opposed to needing. Car or rail transportation. Yeah some of those things to come of that they do work quite well and that you that have done those things couple. How how I'm pine sat actually you know what if we do those things. We're gonna allow the developers to build a little bit last. On things but those things those things can be quite. I mean what it. And hope is that people will live and work in a really tiny area I have often don't and people will still you know commute around like they'll commute actually from Juan mixed used development make it to another excuse. Development if people who can move around. Bought it and it's a distinctive I never thought of parking is being the driver but now that you mention it. You know look at a city like New York where it seems like everyone who works there either takes the train the subway. Our cabs pretty much to get around this very few people in New York City seemed actually own cars parking is so difficult to combine. Always legendary typical and it is BP just remember I'm oh. How many phone bill that this is that all about politics. Yup and it it it it it it miserable and you'll and is also on the list it's just the miserable if not even more miserable than London. Yacht and very very few people will try to drive to recognize that DeVon some people still look about that in London we'll still will still be driving too well. Unbelievable Jill thank you very much for joining us we really appreciate the time today and enjoy the weekend okay. Thank Summitt who told blood from the economist I never thought of parking in the main driver but it makes so much sense now because. How many times you hear people say oh I I go into the city but I don't want a park in all of a sudden it kinda clicks and it's like that does make sense but what's the alternative for people in the suburbs with the impact of autonomous cars. I'm meeting here you can get rid of the you get rid of upon parking spaces in garage sale is again we know our cars are idle 1995%. Of the time we see what parking places sell for. Unity that you look in a major cities of New York it was 200000 dollars yeah well in Boston EA I think Boston it my daughter despite placing her parking spot is worth about a 130000. Dollars. He just just for the parking spot that he's saying it was a Condo but it came with a parking spot on the talk in nice. Indoor heated argument that's a 130000. Dollars for like a 150 square feet outside. And an Alley that is insane in in an Alley 88 that's what has it has come to if you want further proof that humans have just. Done off the deepened this is what we're now paying a 130000 dollars for parking space speaking of insanity. Connecticut is considering insane tax legislation that is our next topic from our insurer match dot com cities. You've got to Barry Armstrong next. She'll exchange on the financial exchange radio network. 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Many famously go through this process think about transferring their home to their children to protect it from a nursing home if you're not careful and nursing home stay can judge your financial well being and transferring property isn't always the best solution because you're looking at huge capital gains taxes when the home sold if you find yourself in the similar position in the meantime let's he's brand new guide to the risks and rewards of real estate ownership. The senior partner with Cushing and dole and Tom will break it down for you piece by piece and in turn will help you avoid probate and unnecessary taxes called today for your free guide at 8668485699. That's 8668485699. Don't put your home at risk keep it away from your children's creditors and keep it safe from the nursing home call 8668485699. Or log on to legal exchange showed dot com right now to download your free copy instantly that's legal exchange show on. Come according to consumer reports 21% of mutual funds have raised their expenses over the last five years do you know you're paying for your mutual funds to understand the difference between the ongoing yearly fees in the transaction fees the costs of mutual funds EDT your returns and they are one of the reasons why some funds end up with sub par performance hi this is Barry Armstrong just because a mutual fund has a higher expense does not mean you'll get a higher return my firm the Armstrong advisory group has written a free guide to help you make sense of these these so call now 803934001. And get your copy today understand the true cost of your investments call 803934001. Or download the guide right now at financial exchange show dot com. 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 America companies are unaffiliated. Home stronger. So. Bringing you the best in business and financial news every day. This is the financial exchange radio network. Trivia is brought to you by alternate energy investing in solar energy and save you thousands of dollars on your electric bill. And those dividends are not taxable. If you thought about installing solar your home or business. Call alternate energy for re estimate and learn how solar can work for you call 8559120115. Instead of your free no obligation consultation today that 855. 912011. Pie. Which city did Al but she knows character John Pappas serve as mayor. In the 1996. Film City Hall our text number 68681. Listener with the correct answer wins a 25 dollar gas card. Which city did Alpa chino is character John Pappas serve as mayor in the 1996. Film City Hall. Well earlier we were talking about insanity. In any in conjunction of that we have to talk about Connecticut proposals submitted. To legislators. Legislatures tax rating committee on Thursday. Would increase the State's sales tax imposed an additional tax on the State's highest earners. And allow municipalities. To tax real state. At a higher rate. We have to be nuts. They really do what you're talking about here is not currently the maximum level for state income tax Connecticut to six point 99%. And what they are doing now. Is there are seeking to add a new level for higher earners that is now a taxes seven point 49% some additional half percent state income tax there. Which. Ed I just wonder how. How incompetent they can beat to try to do you know it's like they don't pay if you're already seeing wealthy executives and wealthy companies leaving the state right. You can't take blood from a stone if you have zero income you can tax a 100% of it in you're going to get zero revenue. They think you're gonna and it generated in mission an additional 200 million in revenue by imposing this 749. Tax on the highest earners. It what will happen is if you're doing that. Those people at the higher earnings will say. Honey let's spend an extra two months in Florida. And declare. And not only that let me let me ask you know the question. How much tax revenue to the people work in GE's headquarters contribute to Connecticut right now that panning the answer is you like. This is the thing. You've seen this happen over the last couple years now look Pfizer did the same thing they're gonna be some companies can't and won't move electric boat is never moving just as they have all their people right where they are at a good move. And it could depart from the edge of the Hartford moved out of Hartford now. But I think numbered about I mean I just. I I I wonder what the thought processes. I'll tell you what the thought processes. Josh Elliott who is a first term Democrat from Hampton says I'm a strong supporter basking in the wealthier to chip in a little more. Well how about you figure out things on the back institute made all these expensive promises that you can't fulfilled. They gold is trading up three dollars and ninety cents announce at 128770. Per ounce. In you know what there's only one bank. In all of New England where he can walk into a branch and buy gold points that's leader. You walk into any leader bank branch and if it's not handy just give McCall and you could setup a gold buying account over the phone. The way it works is you open up an account is C opened up bought gold purchasing count you put a hundred grand into it. And then win gold dips not like it's doing today golds up today but it when you see gold going down a price you can call leader bank and say hey. However by 101 ounce gold points and they'll hold the schools pointed to use drive and pick them up. I don't know he I don't understand why more people aren't doing it. I think it's the easiest simplest way to buy gold. Physical and I talk about buying gold stocks or mining stocks or gold ETFs physical gold. Leader banks the only bank in all of New England where he can do it. Give McCall their phone number is 8776917900. Told free. 8776917. Nines euros or by the way. He just go to their website if you have questions about the program that I do NASCAR if you're curious about this Nazi gold bars wanna buy gold bar you buy gold bar from liter bag. Go to the website it's all described on the website leader bank dot com or call them pull free at 87769179. Mr. Israel. Tesla is recalling model ass and model X vehicles. Over faulting. Parking brakes I'll be very curious to see how they handle this check this. I wonder. And I question. Their ability you don't have a dealer network. Yeah pretty neat if not we're looking at how they're gonna services. They'd they'd better do a recall on 53000. Vehicles. And they don't I I wonder. As to whether or not been speculating. You know if if Chevy does this well they've got to do a network to fall back on. Yep I don't know enough about how Tesla handles their service to begin with part of it. Tesla doesn't have the same service demands as traditional gas these girls just because you don't come in every 67000 miles for an oil change. It's a world changed when things got a lot of times it's a long distance away you might be you might live a hundred miles away from the dealership that you bought your tussling you have to take it there to get serviced and in this case get the recall service it's it is going to be interesting how they handle this. And exactly what they'd Q. To get all the service done they have said that this is not a serious problem it's not affecting how the safety of any vehicles in the two relatively small number of vehicles. So even with that they're saying it's gonna take about six months to get the full recall completed years they're projecting a long time has to do with their braking system yet they've they've got to I guess anywhere between two and 5% of the vehicles that were made during this time. The parking brake engaged pretty much not guessing game. And they pretty much traced back to a supplier who had made some defective parts for them and so they issued the recall saying you know look it's nothing dangerous but we just need to. You know get this taken care so doesn't cause additional Wear and care. But this also gets that look. If you're seeing these kinds of production issues from suppliers when you're making 50000. What happens you start to ramp up towards an all 500000. And that's what I worry about for this company's their ability to service the product that they yourself you know here. You're sell 100 those those vehicles the model less in the model lacks. You know leave the the exit these about a 140 grand Debbie asked depending on how you equipment can be anywhere from probably 8220. Green and people paying that much money for car first of all they don't expected ever recall right you're saying yourself if you just 840 grand for model lacks. You're not going to be happy that that it's got a recall at all and then if you have to drive it there and in in weeks to have it fixed or even worse beat without a car for a few days wallets that you know can be happy. Valued again to even with that pricey car you know you're not. I guess you're not immune from ma recalled Mercedes didn't back in March you remember there called I think they 300000 vehicles for fire hazards and but when you spend that kind of it's it's bad nobody spent thirty grin on my big concern if you're trying to ghosts of we know test is gonna do about a 100000 vehicles this year. When you're trying to go. From there to 500000. In two years now. I just I don't know if you have the quality control process is in place to be able to scale that quickly and that that's that's my big concern it's it's all executioner sky again that they're good cars I'm of the concept I made I think it makes a ton of sense. I just don't know if I trust the business plan and I don't know file like the stock of the. Priced. Speaking of Tesla Elon Musk who lays out a plan to mailed my green with a computer problem. Hello I am not sure that's gonna work out well no I don't think so. Computer. I I. I think it can do a lot of damage that computer and start smoking I guess. So I view. Like I I don't care I are big believer in advance technology writing and and I tend to be an early user of today's technology I try to buy the you know the best phone in the best car technology best computers. The building my brain with a computer can and will. I tend to agree actually. I'm I'm a little skeptical you are so I I just. I think god that needs to be an awful lot more researching clarity about what we're talking about here what he wants talking about trying to do is first for people who are disabled in any way shape or form. Trying to allow them. You know either to use their body the way they could previously or mental functions that my evolved and lost due to stroke or something like that that so they're viable goals it's not simply trying to turn. I guess we're using technology and I'm trying to turn you into Stephen Hawking. Nobody you know you're using technology for deaf people rate disease there's a yeah aspect with tech device called clear implants cochlear implant that that's that's technology. That's a miracle. For it for people who are down thirty years ago he couldn't get. Right now he can't that's that's the ocean or a computer of sorts. Yes so it's it's it's interesting what he's talking about doing. I just don't know if I don't know if I really want everything that's going on in my brain potentially having you know a computer interface there's there's a lot of crap that never makes it to the surface that I'm not sure I necessarily need getting out. You know agreed to many this probably feel breeze out way filter I just I'm I'm a little nervous about how that and supply and out when it's all said and done. Little surprise here on the oil front folks have got oil trading under fifty dollars per barrel 49 88 down Ev3 cents. You know it if it does this if it continues to retreat in price and it tested had been as high as 54 dollars a barrel within the last week or two. If it continues to retreat in price I've got to believe that may meeting of OPEC is gonna say hey we have to continue these production cuts all of. The other chatter today is that cup bloc countries other than Saudi Arabia are kind of wavering on production cuts rates. Well maybe that's why it's declining leaving that behind the decline and I do I do and I think that chatter started tent overnight that's built up a little bit. And so we've got oil down 2% here. On that news I mean I think that's that's absolutely. What's behind it there. In many of you own shares in Verizon and others perhaps you don't own shares that your customer. A Verizon. We're be talking to Paula Monica from CNN money about Verizon right now the dividend yield than that stock while packets around 5%. You two dollars and 31 cents a year dividends on a 47 dollar stock so. Up next we'll be joined by Paula Monica to talk about Verizon will also have the answer to our trivia question that more from our insurer match dot com studios. Like us on FaceBook and follow us on Twitter that's TSB show you. The breaking business news is always first right here on the financial exchange radio network. Hi this is very Armstrong and I'm here to tell you about a new dental product that will make your next visit to the much more enjoyable live the dental jail is revolutionizing. The dental industry a recent double blind study at UC Irvine found that live beyond actual removes two and a half times better than the leading toothpaste for treating gingivitis once you start brushing with next you'll never go back to regular toothpaste Leon contains a powerful anti oxidant that makes your teeth and gums healthy and it's safe for people of all ages I started brushing with Libya twice today and my dentist told me he can already see the difference protect your oral health today by ordering Bolivia on X now call 8559120300. Or order online at best dental jailed dot com use my name Barry and you get a 10% discount off your first purchase call 8559120300. visit best dental gel dot com to place your order that's best dental dot com. 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Security suffered through securities America each member finreg SIPC and advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Even your money and you're in the room right here is the financial exchange with Barry Armstrong and showed soda on the financial exchange radio network. How could she knows character John happens served as mayor of New York City in the 1996. Film City Hall. The winner on this question with Robert from Melbourne Robert takes on the 25 dollar gas card to bill as his prize. And tribute today is brought to you by alternate energy investing in solar energy can save you thousands of dollars in your electric bill in those dividends are not taxable. If you thought about installing solar at your home or business. Call alternate energy for a free estimate. Or have solar can work for you call 8559120115%. Of your free no obligation consultation today. That's 855912. 01. 15. Paul Monica joins us as he does every Friday here to do little stock talked and Paul thank you for joining us. Thank you very much Paula talking about Verizon today. Reporting their first quarterly drop in subscribers in a long time a couple days back. And I'm curious what your thought on Verizon is at this point. Yeah it's going to be fascinating to see whether or not the company in the get that wireless. Will back on track. One positive was that they deed note in the earnings release that seeing. The launch their own unlimited data plan we use the idea countering out what competitors like for people who have done they have seen. You know subscriber gains come back in the latter half of the quarter entered B two questions one. Sustainable and what got what price that is that after the company's profit or. We've seen wireless price wars past that never really ended up all well you don't want these companies to be the equivalent of the air lines opal. Know exactly doesn't end up well for shareholders and consumers. Yeah I fair consumers love it shareholders don't like it quite as much with the winner does Verizon go from here we've heard a lot of chatter. In the last couple weeks about potential acquisition targets on the kind of off the beaten path you're talking about CBS from a content perspective others that seem to be just crazy when you talk about them potentially by Disney. You think anything happened from emanate perspective. You'll think John and I believe that it was all the academy for those comments to Bloomberg about. You know companies like these CBS and Comcast that they came calling he would obviously it was an don't get it but him as a CEO course with any potential overtures from from companies and we've seen what's happening with the Telecom and media landscape and there parent company Time Warner is in the process of being acquired by prized big rival AT&T still that would make some strategic sense for. Verizon to tried that even more confident because let's be I think there's a lot of skepticism about what prize now can be strangely calling oh yeah. Eventual merger. Have you gotten into brightens and well you. You know they have some second year's order you know digital media being there in that might not really move the needle in the online ad raised purses companies like Google. And Facebook's so. You know I think some people feel that Verizon doesn't do you like your deal but others think that if they just kind of stick to the cool you wireless market that might be OK come. Verizon's revenue comes from all the wireless side now do we have any data on that I can't remember. Yeah I I know a person or and there are four light inappropriate right now I don't look at obviously is a peak portion alt the company's revenue stream not yield wireline classic landline businesses obviously it is. A steady decline to do they also have you know big data center businesses while so deal Verizon. You'll cash cow so to speak clearly. Wireless but they are trying to diversify and the the deal upper L Allen the core assets and yeah it was well I think Brighton does spiel. That it can be a bigger player in the digital media and online advertising tea. What what do you think ends of coming out of that new ideas digital media company oath. As their branding it. Do you think that has the potential to be successful with effectively to almost failed companies. That are that are coming together now to form the core there. What what do you think that turns into. It is going to be tough I mean I think that that you're going to be there a lot of people criticize that the ball sail well I. There are on the set that it'll I think. A lot that users. And potentially advertiser interest you know I knew has very strong. And it's the use segment and I built sports is also being here optically. And these so you know we know that the rise and doing more mobile content as well. Within a thousand meters and speak out there you know the sport and with pride in zone. Al offerings by you know that the question is. He's the only problem Hillary the mood in Baghdad digital media player beyond. God Google and FaceBook and just look at what's happening with a Japanese book industry and it's just. Basically copy. Cat right and winning I just doing copycat because they have so much scope and all those users. Heard general Paul thank you very much for joining us and enjoy the weekend all right thank you very much you can poll Monica from CNN money talking about Verizon with a ticker BZ. Stocks down again today. Is down yesterday's down another one point 3% today it is it's you just do you wonder what what they're gonna do to try to turn things around from a growth perspective the stock is pretty much been between 47 and 54. For the last four years now you know it's it's stable pays good dividends but the growth just hasn't been there recently. And I think there's there's some questions about what they can do to try to grow the company. That he you know you get a company like that they never grow organically. In the only they think they consider growth through acquisition of the growth I like the company has organic growth up. Dow's up eleven points as we head into the weekend as some peace down to the nasdaq's up that oil the the big story and oil down its 4964. Per barrel. Thanks for charity and Tucker Silva trucks not a very Armstrong from. Our insurer match dot com story.
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