That's hardworking mortgage guy.com. Now, here's the Hard Working Mortgage Guy, Rick Ripma. Rick Ripma 0:32 Thank you so much for joining me today. I appreciate it very much. I'm Rick Ripma, your hard working mortgage guy, if you would like to get a hold of me, if you have any mortgage needs, purchase, refinance, renovation loans, you're looking to remodel your house, maybe do some cash out to pay off other debt, mortgage rates are still very good. And the scheme of things is phenomenal. But compared to you know, last year, they're up. But still, it can be a huge benefit, we can run those numbers and make sure it is for you. If you're looking at doing anything like that. Just go to hard-working mortgage guy.com. That's hard-working mortgage guy.com. Or you can call me at 317215 7600. That's 317215 7600. And today, there are a couple of things I want to talk about. I want to talk about what's going on, you know, or what does it take in income to purchase a home in the metro area, Indianapolis metro area? And also not just Indianapolis, is it really the state of Indiana? And also what are the predictions for 2022? Not just real estate predictions or mortgage predictions, but what are the predictions for 2022. And what I want to talk about those I think I just think it's very, very interesting. I have some other data that I think could be could be interesting for people. But you know what, the first thing I think I want to do is let's talk about this. This is just data I thought was very, very interesting. So this was written by Aaron Ali, and this is it's from Amazon to zoom what happens in an internet minute and 2021. So and every minute of 2021. Do you know what happened? Some of the ones that I just was blown away by is Amazon sold every minute of every day in 2021. Amazon sold $283,000 in products which is absolutely incredible. I'm not even sure what Snapchat is I've heard of it. I kind of have an idea. But every minute of every day last year, that 2 million Snapchats. There were on Google, every minute of every day, there were 5.7 million searches every minute of every day, and 2021 on tick-tock. Every minute of every day, there were 167 million videos were watched 160 7 million videos every minute of every day, Twitter, every minute, had 575,000 tweets. Instagram had six points or 65,000 photos, Facebook, Facebook, had 240,000 photos, added every minute of 2021. And they also had 44 million views every minute. So Netflix had 452,000 videos watched every minute. I mean, this is it's just incredible to me. So what is it? What is this all? You know, what does it mean? So Amazon's revenue per minute was $955,517. Apple's revenue per minute was $848,090. Alphabet, which is Google's parent company was $433,014. It's amazing to me. Microsoft was 327,823. That just huge, huge numbers. And it's just amazing what can happen in a minute on the internet. And of course, this isn't just in the US. This is worldwide. But it's still it's just staggering numbers and night in 2016 Snapchat users had done 524,000 photos per minute, compared to 2 million in 2021. So from 2016 to 2021. Five years. It went from 524,000 photos to 2 million photos every minute. Twitter went from 452 1000 tweets in 2017 to 575,000 tweets in 2021. It's just amazing in 2018 $862,829 was spent on online shopping, that was in 2018, while 2 million people were shopping per minute, and 2021. So, these, these, it's staggering. And, you know, the first thing I thought is, it's kind of amazing what people you know that you know, obviously, with all those people out there, there's a lot of money to be made. And I talked to people who've gone on and they tried to, you know, be an Amazon, you know, supplier or one of those, one of the companies there. And it's a real struggle because everybody sees the volume out there. And, and they and there are so many people on that there's, there's, it's really a very, very, very competitive industry. This is another, the Internet growth perspective, to put the internet rapid rate of adoption into perspective, they're looking at to get to a billion users, let's say here's where the next billion users, the next billion users may come from based on the largest disconnected population. So 50% of the population in India is not connected to the internet, and 41% of China is not connected to the internet. Now. That's, that's 582 million people in China that are not connected to the internet. 685 million people in India are not connected to the internet, that's about double the US population. So it is there's a huge area where they look to grow. But anyway, I just thought that was very interesting. I think those numbers are, are extremely interesting to look at. And I think it could be something that, you know, we'll, we'll see how it goes. But it's just incredible numbers. Let's move on to the income needed to buy a home now this again, is this, this data was a little dated, but I ran the numbers myself and it still looks like it's pretty accurate, based on current mortgage rates. And you know, what we're looking at pricing and that type of thing. So Indianapolis was actually the fifth least expensive Mark metro area. So Indianapolis, not all the state, they didn't have it for the whole state but for Indianapolis, so you know, our outline areas are the same, or most of them the same is a little lower than than the metro area in Indianapolis. But the median home price in Indianapolis was $185,200 when this was done. It gives a monthly payment of around principal interest taxes and insurance of around $1,000. And that takes about $42,040 in income in order to buy that house. So a lot of people have that income. So in our lower price areas, we certainly have some inventory. And we certainly have a large variety of people who can afford it. It's amazing if you go to places like the number one most expensive area, which is an interesting look at San Jose, and the median home price there is $1.25 million, the monthly payment is right at $6,000. So we're looking at 180 580 in let's say $190,000 a month, and they're looking at 1,250,000 at $6,000 a month that changes what you have to you know how much you have to earn. That's just crazy. They need a salary out there somewhere around $260,000 a year in order to afford that if you have any questions and would like to talk to me about mortgages please give me a call. I can talk about just a straight refinance purchase. If you're looking to you know do any home improvements, maybe you'd like to do some cash-out pay off some debt, you know, consolidate your loans, or any other questions that you might have as it relates to mortgages, please contact me at Heartland go to hardworking mortgage guide.com That's Hard Working Mortgage Guy.com Or you can call me at 317215 7600 that's 317215 7600 and I appreciate it very much. Credit cards student loans car payments, when is it going to stop run shouted Karen just shrugged and look defeated. Their debts were literally killing their marriage in them. They tossed and turned every night pet stress headaches all day long and snapped at each other constantly all over the stress of out-of-control debt payments. Then the Debt Crusher mortgage came into their lives. They can now sleep in their debt stress disappeared. This is Rick Ripma your hard-working mortgage guide advisors Mortgage Group If you have debt-stressed, we have the solution to the Debt Crusher debt consolidation mortgage, call us to see if you qualify 317215 7600 That's 317215 7600, and let the Debt Crusher mortgage crush your debt. Rick Ripma hurt every weekend Announcer 10:17 at 3:30pm on freedom 95 branch NMLS number 33041 Ripma NMLS number 664589 equal housing opportunity some restrictions apply to you by advisors Morgan Mortgage Group where we believe the more you know about financing a home, the less stressful buying and refinancing will be. Rick Ripma 10:45 Welcome back. And thank you so much for joining me, I appreciate it. This is Rick Ripma, your hard-working mortgage guy with Advisors Mortgage Group. If you have any mortgage questions, you want to look at refinancing, purchase, maybe do any home improvements, pay off some other debt with your equity that you built in your home because we built in tremendous built tremendous equity recently last year, just in the Indiana area on average, we our homes increased by 19%. If you think about it, that is on a $200,000 house, that's $38,000. So if you look at the statistics, we are in some of the best positions we have ever been as homeowners with the equity build-up that we've been able to experience over the last few years. You know, it's funny 19%. And you think, wow, that's really good. And it is if you look at if you look back in time, over the last like 30 or 40 years, I have the number I looked at, I believe was just under 4%. I remember most of the time we talked about 3%. And if you increase by 3%, you did great. We never really saw the big decreases, which we did see a little bit of that in 2007 and eight, you know, but that's all we've well improve beyond that. And we're at the highest levels that we've seen. But I really want to talk about I just think this is fairly interesting. It's the predictions. Consensus, which is what the experts see coming in 2022. It's I just think it's extremely interesting. And I thought this would be a good thing to talk about and kind of fun to talk about. So you know, one of the predictions is Rick rich countries will move from the pandemic to the endemic phase. So they're going to move from the pandemic to an endemic phase. I assume what that means, let me see if I can find it. But I believe what that really means is that, you know, we're going to the pandemics, just the Coronavirus is going to become somewhat like the flu. I mean, it really seems to be that's what it is. And I don't think you get thrown off of social media right now for saying that it's you know, it's kind of seems like it's going away, I think I saw that 71% We are the cases have dropped by 71% Anyway, it's that's one of the predictions that they're predicting. Another prediction is big tech gets even bigger. So it's already huge. We talked about those numbers, and it's just going to get bigger. The other prediction is the creator economy will flourish the Creator economy if you don't, aren't familiar with that, that's like us being on Fiverr places like that, where you kind of have your own, you work for yourself. And you people contact you let's say you wanted to redo your logo, you could put it on Fiverr they can you can find some people who will do the logo, you pick somebody they redo your logo you like it you pay them and off you go and that's the Creator Academy they created the logo for you probably not somebody 10 years ago, you would have been even ever even contacted, you wouldn't even be known about them. But now they're online, a lot of them are very, very good. But there's it's not just fiber, there are others out there just that's the one that popped into my head but that is what the Creator economy is. They're looking at highly the prediction is highly unequal global recovery. So they don't think that the world is going to recover equally, which that makes sense that we're going to see an uneven recovery, which you would think, you know, you would think that the more you know, like the US Britain these economies will improve much better than then countries that aren't as progressed as we are ransomware will ramp up. This is another prediction. This one is one of those things that you look at and you wonder, okay, this is this could be a big, big problem. So you'd be on the lookout for people you know for what happens with ransomware is they get into your computer, they lock your computer up. And then you have to, to get back into your computer, you have to pay them, they hold it ransom. It happens to individuals like us, but mostly in companies. So you if you're working for somebody, you want to be very careful about what you open, keep that from happening. I'm not an IT expert, but I can tell you, I've seen some of this stuff, and how it happens. And it's just one of those things. I've had tons of training when you work in finance, you get tons of training on that because that's one of the number one areas that people will the ransomware or any type of Trojan that they will try to get in because we have very confidential information. So it's one of those things we very we have lots of precautions for, and we're trained all the time on it. It's definitely something you want to be careful of. And I'll tell you, the biggest issue that I see is when your client, you kind of drop your guard down because you're busy. You're just trying to get through something, and you might open something you wouldn't normally open, you just got to be really careful, slow down, don't open things that you don't know where they're from, you don't know who they're from. You just got to be very careful. And that that could keep that but ransomware. If that happens, you know, that's what they're saying. So we just got to be more on guard than we have been. This one I think is very interesting. Facebook changes name to meta. And so they're predicting the metaverse, plans fall flat saris, they don't think it's going to work, they are at least at the start. It's not gonna it's not going to work doesn't mean it won't flourish later. But they think this year, it's going to be it's gonna fall flat you've already seen and I don't know if it's because they changed their name. But Facebook's already starting to lose users it seems to be dropping has dropped to me fairly significantly. But I may have those numbers if I do I'll if I find them, I'll let you know. They’re bullish on European and Japanese equities. So they think they're going to be very strong. When you're bullish, that means you think it's going to go up. So if you're an investor, this is just their predictions. I'm just reporting them. I'm not making them. There think regulation is coming on. For cryptocurrencies. I think that's a great thing. I'm still, I guess I'm too old for crypto because I don't understand it. And I'll leave that to other people. I don't, I don't get it. Inflation slowly eases off what we talked about. That's what we talked about in the last show inflation. And that's, you know, that I think is definitely going to happen, we can already see why it would happen. I think that prediction is very accurate. But we'll just wait and see how that works. Let me see. Let's see what else like social commerce picks up steam. So they think social commerce is going to pick up steam. So I guess the social commerce would be if we sell things or maybe how we push things on our social media. Not sure exactly what that means. But that's what they're saying is going to happen. I will not know because I don't know what it means. So how about that? Alright, so and we talked about inflation, they said it's gonna be they think it's gonna be another banner year for electric vehicles. And that doesn't surprise me, you know, we've seen you know, electric vehicles have taken a double-digit share of the global market for the first time ever. So there are over 10% or 10% or more of the vehicles that are out there. The global sales of new electric vehicles, which they also call EVs will continue to soar rising by 51%, and battery metal, metals, lithium, nickel, cobalt, and graphite, you know, all that's going to going to be increasing now. This is just my thoughts on this. I'm not sure how we're gonna get the electricity, we already have electrical problems. It seems like we already have a grid problem. Where are we gonna get the electricity as we, as we charge all these vehicles? I mean, I would actually, first I like electric vehicles. I think that I like, I like power. I like the reliability. I like the looks. I like electric vehicles. I don't like the number of miles you get and the time it takes to charge your batteries. Those are the things I don't like I know they're coming up with some other ways. I know GM has come out with or is coming out with the electric vehicle trucks. I think I saw Nissan is there's a lot of people coming out with those vehicles and that could be and if we have time at the end of this, we'll talk a little bit about that. But we are seeing, you know, electric vehicles they expect them to, to really increase in the market. Interest rates will go up this is another prediction interest rates will go up well first of all, they're already right. This was put out of course, right at the beginning of 2022, and entry rates have gone up. And it appears that interest rates may go up a little bit more before they come back down. But right now they have, they have gone up to their expectations, they're expecting four to 5% global GDP growth. So that's a pretty significant number. GDP is your gross domestic product that can be very good, for all our economies. And so that can be a really huge prediction if it comes out. I think it's, I think it's somewhat of a risky because I don't, you know, it's hard to grow your, your GDP, when you can't get labor, and you can't get the materials, you need to build what you need to need to build. If you take, for example, go try and buy an appliance, that's not that you can't get an appliance. But you're very limited, you have to, if you want a specific product, you're very likely going to have to order it and wait, that's what I've found. That's what my friends tell me, that's what they've gone through. When I did it, I was much more flexible. And I was I would just, you know, I wanted certain, you know, features. And as long as I found the features that I wanted, I was able to buy the products. But it is one of those things that that's I don't know how you grow GDP if you can't actually build, build the products. So those are just some of the predictions, it's not all of the predictions. And on that GDP, let's talk about the US GDP, they're estimating an increase at 4%. China, their thinking is going to increase at 5.3% in the Eurozone at 4.3. So the United States is the lower of those three areas. But again, I don't we'll have to see how that goes, it'll be interesting to see exactly what happens. And whether those come into play and whether that's, that's accurate or not. So those are the predictions, if you have any questions on any of that, or really on mortgages, that's what I actually do. You can contact me at hardworking mortgage guy.com Just go to that website, hardworking mortgage guy.com, you can get my contact information there, you can, you know, fill out the whatever they call it, and fill out the information and I get back with you or you can get my phone numbers or my email address, but my phone number is 317215 7600 If you would like to call 317215 7600. Now let's go on I said if we had a little time we talked about electric vehicles, I just I'm really into cars. I've probably said that many times before. I do like vehicles, I like cars. And I think that it's very appropriate now to talk about EVs are electric vehicles. And they expect the number of electric vehicles to double by 2024. Right now in 2020. And we see if the number of vehicles and we had we had about shoppers in the US will soon have about 130 models to choose from. So we're gonna have about 130 models to choose from and of electric vehicles. And as I said earlier, you know, we're seeing the increase, you know, GMs coming out with their trucks. But this is the sum of the numbers. So, current 2010, this is amazing 2010, there were two electric vehicle models available in the US, too. And 2015, there were 21 electric vehicle models available to us in the US. And in 2020, there were 48. So from 2010 to 2020, we went from two to 48. And they're expecting from 2020 to 2024. The projection for 2024 is 134 models on sale in the United States. So that's that is a huge increase in the electrical electric vehicles. So you know if that happens, it's going to be interesting, if it does, and how that affects everything. But if we don't, and one of the things that we have to do, is obviously get the charging stations out there and the federal government trying to put charging stations out there, which we'll see how that goes. But to charge a vehicle you still need electricity, and you need that you need the grid, we need to produce electricity. And so it's like to me, it's like we're getting pushed on both sides. We don't want to there's a fraction of the country that doesn't want to use coal, they don't want to use fire any fossil fuels. They don't want nuclear. They don't want to produce electricity in this way they want they want to use the sun and they want to use the wind, which is great. Okay, that's fine, but you're not going to produce enough for what we already need. And then all these vehicles that we're going to run around, we're going to get ready have cars that go on fossil fuel, and we're going to well, on gasoline, I'm not gonna say fossil fuel and we're going to try to get electricity enough to then fuel all those cars along with all the other needs that we have on electric and I just don't know how that's gonna work. So as you can tell, I have my doubts, that this is something that is actually going to be sustainable and, and is able to be something that we can, we can actually accomplish. So the latest push for these electric vehicles is on the automobile or on the trucks, not just automobiles, but now they're trying to push it onto trucks. Ford, Chevy, and GM are ready to deliver electric trucks. We're seeing a big push on those if you're interested. GM is also teasing its upcoming Hummer E electric vehicles. They're gonna come out with a Hummer, that's an electric vehicle. That'll be interesting. I mean, I used to love the Hummers, but maybe as electric could be something that could be done, and maybe they put up batteries in it, you can drive somewhere, and which would and it also it promises 1000 horsepower, and I'll tell you what, that's some horsepower right there. That is a lot of horsepower. But we're just gonna see a lot of new vehicles coming out that are electric. And, again, I think I think that electric vehicles can be a great thing. And I would actually, I've considered an electric vehicle, my problem is, is that I just worry about how far I can drive and how long it's gonna take me to, to fuel my car. And those things to me, are important. So now let's talk a little bit about mortgages. Since this is a mortgage show. It's, and we've talked about these before, but one of the biggest things that I see where today it can be very beneficial, is a cash-out refinance. And the reason it can be so beneficial is it can take a huge weight off of you if you can get that pay off all this debt and lower your total monthly payments significantly. Now, some people will say, Well, yeah, but you're adding that debt into your mortgage. And that's long-term debt. And that is true. But we have a tremendous amount of equity. And if you take some of the savings, and you add it to pain, towards the new mortgage, so let's say your mortgage payment was $1,500 a month, and you paid off $2,000 a month in debt. Even if you took $500 of that and added it to your new mortgage payment, that's going to make a world of difference. And it's going to pay your home down much quicker. And you're going to have all that debt. Going away. I had a customer who had had had quite a bit of debt we took we actually increased his interest rate on his mortgage but decreased his total interest rate when you look at all of the things we paid off. We paid off all those items. And if he made the exact same payment as he was making his new mortgage payment, plus the extra to have the exact same payment is what his old mortgage payment was with all the debt he was paying off, he would have been able to pay his new, this new mortgage often, like less than 10 years, it was I think it was even less than nine years. So that you might not want to do that. But if even you took half of the savings or even a quarter of the savings, you're going to pay off that home much quicker. You can match what you're doing your payoff term today, or you can increase it. And you can actually by doing this, you could actually get out of debt quicker than you would without doing a cash-out refinance. It can make a tremendous amount of sense. If you're interested in looking at if you have some debt, you'd like to look at paying off if you know anybody who's struggling with all the debt that they might have, the houses have increased, the equities increase we've seen huge last year we saw 19% increase in our home values. This is a great time to look at that and our rates are still reasonably they're low in the terms of history. They're just higher than they were not too long ago. But it really would make sense. So please go to Hard Working Mortgage Guy.com That's Hard Working Mortgage Guy.com all my contact information there, or you can call me Rick Ripma, your hardworking mortgage guy at 317 215 7600. That's 317 215 7600 Rick Ripma your hard worker mortgage guide advisors Mortgage Group. Thanks so much have a great day Announcer 31:11 licensed by the Indiana Department of Financial Institutions NMLS number 33041 recruitments NMLS number 664589 equal housing opportunity programs very details.