Triple Net Investor
@TripleNetInvest • 119,027 subscribers
Breaking down markets, stocks & real estate. Conversations w/ top investors & business leaders. Equity investor | RE entrepreneur | ex–IB
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JUST IN: Chamath Palihapitiya makes a big claim that Warren Buffett’s insane pre 2000 returns may have benefited from access to information asymmetry not available to the public Here's what he had to say: "In 2000, we introduced the law called Reg FD. And what was the point of Reg FD? It was basically that if you're a CFO, you cannot talk to an individual stock manager and tell him something that you then don't tell everybody else. Essentially inside information. That used to be not illegal. I won't say that it was legal. I would just say that used to be not illegal. You call your CFO buddy, he says, "hey, how you doing?" He goes, man, "Quarter was a blockbuster." You would go and buy the stock. And starting in the 2000s, it became illegal. And there used to be these networks of information arbitrage that took advantage of this. Now, this is an example of Warren Buffett's returns, pre and post Reg FD. Now, what do you see? His returns were double the market returns when this kind of information sharing was legal. And the minute that it became illegal and you had to basically act on the same edge as everybody else, his returns went to the market return. He generated zero alpha. In fact, he probably on the margins lost a little bit. So this is the single best investor in the world. This is what happens when you have information symmetry. So it's just meant to explain that markets when there's asymmetry. Billions and billions of dollars will be made in asymmetry. The prediction markets today, unless they are regulated out of existence or shut down, will look like the stock market pre-Reg FD."
Triple Net Investor1,307,260 görüntüleme • 4 ay önce
The McDonalds CEO just gave a reality check for the US economy - and it's ugly for most Americans: "With middle and lower income consumers, they're under a lot of pressure. If you're upper income earning over $100k, things are good. Stock markets are near all time highs. You're feeling, quite confident about things. You're seeing international travel, all those barometers of upper income consumers are doing quite well. What we see with middle and lower income consumers is actually a different story. It's that consumer is under a lot of pressure in our industry. Traffic for lower income consumers is down double digits, and it's because people are either choosing to skip a meal. So we're seeing breakfast, people are actually skipping breakfast, or they're choosing to just eat at home."
Triple Net Investor1,238,765 görüntüleme • 9 ay önce
It was revealed earlier this week that Raising Cane's founder, Todd Graves, is worth an est $7.7 billion In this clip, Graves shares the incredible origin story of Cane's and what it took to get his first restaurant open For those that don't know, Cane's is one of the fastest growing QSRs in the world w/ avg yearly unit sales of over $5M - 2nd in the QSR space behind Chick-Fil-A I highly recommend this clip for any entrepreneur looking for an inspirational story this weekend and urge people to watch the full interview w/ Theo Von
Triple Net Investor3,537,546 görüntüleme • 2 yıl önce
The founder of Jimmy Johns, Jimmy Liautaud, is a multi-billionaire In this clip, he shares the company's AMAZING origin story and the events that led up to his first sandwich shop After graduating 2nd to last in his class, his father gave him a choice to either join the Army or start a business. *Liautaud struggled at school, as he was hindered by dyslexia* Liautaud chose to start a business, and his father agreed to loan him a small amount in exchange for a stake in the business After some initial struggles, research and experimentation, Liautaud opened his first sandwich shop in 1983 at the age of 19 At the end of 2022, Jimmy John's had almost 3,000 locations and is one of the most successful sandwich chains in the world I highly recommend this clip for any entrepreneur looking to be inspired and urge people to watch the full interview w/ Theo Von For more business and founders stories just like this, make sure to follow Triple Net Investor Enjoy
Triple Net Investor3,320,833 görüntüleme • 2 yıl önce
Under Armour founder Kevin Plank became a billionaire in his 30s He was a walk-on football player at Maryland when came up with the idea of "dry and comfortable" athletic tee shirt which became the company's first product In this clip, Plank shares his company's incredible origin story and what it took to get the apparel company off the ground and competing with the likes of Nike and Adidas I highly recommend this clip for all entrepreneur looking for an great, inspirational story For more business and founders stories just like this, make sure to follow Triple Net Investor Enjoy
Triple Net Investor2,623,464 görüntüleme • 2 yıl önce
Warren Buffett thoughtfully explains why investing in stocks/equities is better than real estate, during Berkshire's latest annual meeting: "In respect to real estate, it's so much harder than stocks in terms of negotiation of deals, time spent, the involvement of multiple parties in the ownership. Usually when real estate gets in trouble, you find out you're dealing with more than equity holder. But there have been times when large amounts of real estate... I've changed hands at bargain prices, but usually stocks were cheaper, but there were a lot easier to do. Charlie did more real estate. Charlie enjoyed real estate transactions, and he actually did a fair number of them in the last five years of his life. But he was playing a game that was an interesting game to him. But I think if you'd asked him to make a choice when he was 21, he'd either be in stocks exclusively the rest of his life or real estate the rest of his life. He would have chosen stocks in a second. There's just so much more opportunity, at least in the United States. There's so much more opportunity that presents itself in the security market than it does in real estate and in real estate. You're usually dealing with a single owner or a family that owns maybe a large property they've had a long time. Maybe they've borrowed too much money against them. Maybe the population trends are against them. But to them, it's an enormous... When you walk down to the New York Stock Exchange, you can do billions of dollars worth of business totally anonymous, and you can do it in five minutes. And the trades are complete when they're complete. In real estate, when you make a deal, a big deal with a distressed lender, when you sign the deal, then you go into another phase. Then people start negotiating more things and more things. It's a whole different game. And a different type of person, to some extent, enjoys the game. We did a few real estate deals that came our way in 2008 and 2009, but the amount of time that they would take us compared to doing something intelligent and probably better in securities, there was just no comparison. I mean, in a real estate deal, every sentence is important. In stocks, if somebody needs to sell 20,000 shares of Berkshire or something and they call us and the price is right, it's done in five seconds. And it closes all the time."
Triple Net Investor1,038,253 görüntüleme • 1 yıl önce
This is one of my favorite entrepreneurship stories of all time In this 30 min clip, casino/RE tycoon Phil Ruffin shares how he went from 1 c-store in Wichita Kansas to becoming a billionaire, including owning the Treasure Island on the Vegas Strip In a remarkable series of transactions, he managed to turn $20M into $1.24 billion in just 13 yrs in one of the wildest series of RE transactions ever In this video, Ruffin shares his rag to riches story - it's a must watch if you've got 30 minutes to spare this long weekend
Triple Net Investor1,234,168 görüntüleme • 2 yıl önce
Elon Musk gave a VERY thoughtful response when asked about tariffs and why the US needs to be extremely careful - here was his warning: "I think you need to be careful with tariffs. I deal a lot with supply chain issues, like the global automotive supply chain for Tesla, for example, is incredibly complex... We've got a factory somewhere else that's making a part that goes into the car. Now, if that part's suddenly twice as expensive, it messes everything up. So you want to have tariffs be predictable so that companies can adjust their supply chain. I think companies are more than happy to increase manufacturing in America. It's just that you can't do it instantly. So if you put up giant tariffs immediately. And don't give companies a chance to, build factories in America, you've got to build a building, you've got to install equipment, you've got to train people... that doesn't happen instantly... You want to have a ramp so that people companies can adjust and build the factories and train the people and get the equipment in place. Otherwise, you basically just shock the system and it breaks or bad things happen. So I'm against sudden giant tariffs because it's an impossible response if you've got to move 1,000 tons of equipment. In some cases, collectively, millions of tons of equipment. You just can't do that overnight. It's literally impossible. So I think we want to be thoughtful about tariffs."
Triple Net Investor447,636 görüntüleme • 1 yıl önce
Hedge fund manager Ken Griffin is worth a mind blowing $40 billion and is one of the most villainized people on Wall St What most people don't know is he founded his fund from his college dorm room w/ little capital Griffin tells his story: "We raised $265k from friends and family and yes, I started it in my dorm room. Now I was armed with all the modern technology. I had a fax. I had a phone. I had an IBM PC... And it is true... I put a satellite dish on top of the building, ran the cable through an old unused elevator shaft, pulled it through a window and into my dorm room so I could have realtime stock quotes. I had all the technology to begin my career as a hedge fund manager and it was the perfect fit for me..." Griffin's hedge fund has $60+ billion assets under management today I highly recommend watching the clip below - it's one of the most underrated entrepreneurship stories you've never heard of For more business/founder stories just like this, make sore to follow Triple Net Investor
Triple Net Investor848,401 görüntüleme • 2 yıl önce
![Barry Sternlicht gives an insightful view about the challenges of real estate right now - and how to still make a lot of money in the current environment Here's what he said: "I think people, as they always do, tend to look in the rear view mirror and they look at a suboptimal performance of the real estate asset class across the last 3-4 years. Nvidia goes up a trillion dollars in four months. Like the hot kids on the block are everything AI, everything chatbot, etc... There are meme stocks that go from zero to $7 a share on a tweet. Crypto - there's worthless coins with $20+ billion dollar market caps. There's a coin called Useless. It's [literally] useless. It debuted in March 2025 and it went to a $700 million value. And the coin says "we are completely useless" In real estate people get rich but it's boring. You get rich holding on to it over long periods of time. It's not a day trading asset. The country right now is very impatient. So people want to play the hot thing. Real estate looks sort of sad in your portfolio right now. The only thing it beats is treasuries. And even then, it's not even beaten that. But you'll do well picking properties in the right cities... Everything is micro in real estate. For example, I built a building in South Beach. The first lease was $54. It's on the beach, and nobody built a new office building in 20+ years. We leased it up in the pandemic. It's 100% leased. A tenant actually needs to grow, and they called us last week. They're paying $125 and we'll re-lease it at $175. I mean, you can still make a lot of money if you get the micro market right."](https://image.24vids.com/tw-2026100706315530716/amplify_video_thumb/2026097018536669184/img/hskrUcliQDQYDERE.jpg)
Barry Sternlicht gives an insightful view about the challenges of real estate right now - and how to still make a lot of money in the current environment Here's what he said: "I think people, as they always do, tend to look in the rear view mirror and they look at a suboptimal performance of the real estate asset class across the last 3-4 years. Nvidia goes up a trillion dollars in four months. Like the hot kids on the block are everything AI, everything chatbot, etc... There are meme stocks that go from zero to $7 a share on a tweet. Crypto - there's worthless coins with $20+ billion dollar market caps. There's a coin called Useless. It's [literally] useless. It debuted in March 2025 and it went to a $700 million value. And the coin says "we are completely useless" In real estate people get rich but it's boring. You get rich holding on to it over long periods of time. It's not a day trading asset. The country right now is very impatient. So people want to play the hot thing. Real estate looks sort of sad in your portfolio right now. The only thing it beats is treasuries. And even then, it's not even beaten that. But you'll do well picking properties in the right cities... Everything is micro in real estate. For example, I built a building in South Beach. The first lease was $54. It's on the beach, and nobody built a new office building in 20+ years. We leased it up in the pandemic. It's 100% leased. A tenant actually needs to grow, and they called us last week. They're paying $125 and we'll re-lease it at $175. I mean, you can still make a lot of money if you get the micro market right."
Triple Net Investor128,360 görüntüleme • 3 ay önce
Chamath Palihapitiya says Starbucks' big issue is that they offer a 'premium product' but are no longer a 'premium brand' He goes on to say they're a sugar company while the world going away from sugar consumption Do you agree? If you were CEO, what would you do to improve Starbucks?
Triple Net Investor484,969 görüntüleme • 1 yıl önce
This clip is a MUST WATCH for anyone looking to raise capital for a business/venture/investment Without Bill Gates and his father Bill Gates Sr, Howard Schultz would not have been able to acquire Starbucks and transform the company to the coffee behemoth as we know it today It is a reminder to everyone about the importance of developing relationships with the right people Incredible lesson to be learned here for any entrepreneur or business person
Triple Net Investor650,102 görüntüleme • 2 yıl önce
![Warren Buffett shares what he would do if he had to start investing again w/ just $1 million Here was his valuable/timeless advice: "With just a million dollars, you could earn 50% a year... I don't know what the equivalent of Moody's manuals or anything would be now, but I would try and know everything about everything small, and I would find [opportunities]. But you have to be in love with the subject. You can't just be in love with the money. You've really got to just find [the opportunity]. People find other things in other fields because they love looking for them. A biologist looks for something because they want to find something. I don't know how the human brain works that much. I don't think anybody understands too well how the human brain works. But there's different people that just find it exciting to expand their knowledge in a given area. I've had the luck of meeting a lot of people that are unbelievably smart in their own arena and do some unbelievably dumb things in other areas. So all I know is the human brain is complicated. But it does its best when you find out what your brain is really suited for, and then you just pound the heII out of it from that point. And that's what I would be doing if I had a small amount of money and I wanted to make 50% a year. But I also wanted to just play the game. And you can't do it if you don't find the game interesting, whether it's bridge or chess or in this case, finding securities that are undervalued."](https://image.24vids.com/tw-1919758412285673880/amplify_video_thumb/1919753207741612035/img/IttAf1qTn6kMWpry.jpg)
Warren Buffett shares what he would do if he had to start investing again w/ just $1 million Here was his valuable/timeless advice: "With just a million dollars, you could earn 50% a year... I don't know what the equivalent of Moody's manuals or anything would be now, but I would try and know everything about everything small, and I would find [opportunities]. But you have to be in love with the subject. You can't just be in love with the money. You've really got to just find [the opportunity]. People find other things in other fields because they love looking for them. A biologist looks for something because they want to find something. I don't know how the human brain works that much. I don't think anybody understands too well how the human brain works. But there's different people that just find it exciting to expand their knowledge in a given area. I've had the luck of meeting a lot of people that are unbelievably smart in their own arena and do some unbelievably dumb things in other areas. So all I know is the human brain is complicated. But it does its best when you find out what your brain is really suited for, and then you just pound the heII out of it from that point. And that's what I would be doing if I had a small amount of money and I wanted to make 50% a year. But I also wanted to just play the game. And you can't do it if you don't find the game interesting, whether it's bridge or chess or in this case, finding securities that are undervalued."
Triple Net Investor285,541 görüntüleme • 1 yıl önce
From 2002-2012, John Arnold's fund compounded at a STAGGERING 100%+ annually In 06 alone, it famously made 300%+ In 07, at just 32, he became the youngest billionaire Here's how he did it: "At the time when Enron went down, Enron was the largest natural gas trader. I was the head trader at Enron. And so I had a very big reputation in the business. New York Times wrote a story in early 2002, talking about the amount of money that my trading book had made in 2001, which was in excess of $600 million. And so all of a sudden, it kind of validated me externally. And so I started getting a lot of calls from people saying, Enron went down. There must be a lot of opportunity in this space. Can we invest with you? And second quarter of 2002, there starts to be a new scandal hitting the papers on Enron almost every week including on the power trading side. And so that was a very different operation than what I was doing, but it was close enough to where all the potential investors kind of stopped calling me back. Because they don't know what's going on. They don't know if my track record was real or not. They don't know if I'm going to be tied up in court proceedings for years.... When I got started in the summer of 2002, I had $8 million from 3 investors one of which was me... From 2002 to 2012, we compounded over 10 years 100%+ a year on average. We had some years that were 300%, had one year that was pretty much flat, but on average. 100% a year..." Absolutely STUNNING
Triple Net Investor82,544 görüntüleme • 4 ay önce
This is John Arnold, the best trader you've probably never heard of Starting w/ just $8M, he grew his fund to ~$5B before retiring at 38 From 2002 - 2012, his fund compounded 100%+ a year 🤯 In 06 alone, they famously made 300%+ In 07, he became the youngest billionaire at age 32 Here's his story: "At the time when Enron went down, Enron was the largest natural gas trader. I was the head trader at Enron. And so I had a very big reputation in the business. New York Times wrote a story in early 2002, talking about the amount of money that my trading book had made in 2001, which was in excess of $600 million. And so all of a sudden, it kind of validated me externally. And so I started getting a lot of calls from people saying, Enron went down. There must be a lot of opportunity in this space. Can we invest with you? And second quarter of 2002, there starts to be a new scandal hitting the papers on Enron almost every week including on the power trading side. And so that was a very different operation than what I was doing, but it was close enough to where all the potential investors kind of stopped calling me back. Because they don't know what's going on. They don't know if my track record was real or not. They don't know if I'm going to be tied up in court proceedings for years.... When I got started in the summer of 2002, I had $8 million from 3 investors one of which was me... From 2002 to 2012, we compounded over 10 years 100%+ a year on average. We had some years that were 300%, had one year that was pretty much flat, but on average. 100% a year..."
Triple Net Investor184,457 görüntüleme • 1 yıl önce
This is a MUST WATCH clip of Barry Sternlicht speaking at a conference yesterday about the state of the real estate market. Here are the key points: -Thinks "RATES WILL COME DOWN B/C THEY'LL HAVE TO COME DOWN" -"The Fed is going to have to relent b/c they have no choice... none of the Western democracies can hold rates this high b/c they can't afford it" -Underlying fundamentals of CRE is ok -"Apartments are 95% occupied in the US. European apartment are full" -"There is only really one asset class that is really injured... almost permanent injury... US office" -Office everywhere outside the US is 'doing great' and 'full' -What we're facing right now in CRE is a balance sheet crisis -The Fed is operating off of old/outdated data -"$6 trillion of stimulus packages that were given to American consumers, they've spent it, it's mostly gone. And you can see their credit card balance going through the ceiling" -The issue with rate hikes is not the actual amount of increases, but the pace of increase -Today, the biggest victim of the rates increases is the Federal government that has to pay 5% on $33 trillion of debt -The second biggest victim is regional banks -Credit has really dried up in the US -Great opportunity for private credit and new capital -"I'll be more bullish a year from now"
Triple Net Investor396,464 görüntüleme • 2 yıl önce
NYC real estate developer Larry Silverstein is a multi-billionaire and his story is my favorite real estate story of all time In this clip, he shares how he went from broke leasing broker, unable to scrape together $15k for a deposit, to eventually buying his first building w/ a group of investors This first acquisition would lead to a series of deals that would help propel him into one of the most well known RE operators/developers in New York I recommend this clip for anyone interested in real estate or investing in general For more business and founder stories just like this, make sure to follow Triple Net Investor
Triple Net Investor355,893 görüntüleme • 2 yıl önce
![Barry Sternlicht recently went on an EPIC rant about the Fed, predicting when they'll lower rates and the challenges the US is facing "Inflation will fall below 2% as soon as the rent component catches up to the data. The question is, when will the Fed lower rates? But here's where it gets really tricky... The economy is too strong. It's too strong because of public spending. It's not too strong because of private spending. Private spending is rolling over.... Everyone's laying workers off. But the federal government's hiring them.... They're spending enough money to keep these guys employed. So the Fed keeps using this really blunt, horrible instrument 5.5% interest rates with two huge victims, because we have a $34 trillion deficit, and the debt is going to roll over. A third of our debt rolls over this year. He can pay 5.3% on it, or he can pay 3% if he lowers rates. That's $200 billion. That's a quarter of the defense budget, which is the largest component of our budget. So he has a choice. Pay $300 billion on $13 trillion, or pay $500 billion on $13 trillion. It's up to you, right? So it's 3% or 5%. So that's one problem. Second problem is the regional banks. He's blown a hole through their balance sheets. There's $1.9 trillion of real estate loans in the regional banks... there's only $800 billion in the money center banks, and he blew their banks to garbage. These banks are out of business. They can't make money offering us 5.5% CD rates. So he's gonna have the next crisis if he doesn't lower rates. It's a serious mess in the capital markets and real estate and fixed income... anything that was yield related. Will he keep rates here? Yes, unfortunately. Why? He's up for, he's leaving in January. Powell's out. He's not going to be the guy who let inflation come back... I don't think we'll get the March cut. I think the data, as soon as inflation falls below 2%, there'll be a lot of pressure on him. That might be May. So I think June, you'll see cuts. It'll become very obvious that the private sector is struggling as the consumer runs out of money... And why has this economy kept going? Not only his spending, people have jobs. And b/c they have jobs and employment rates are good, so they're spending. But they're spending money they don't have. It's not in their savings account. It's all gone. And now they're on the credit cards. [And now] Americans are willing to live on Affirm. Now we have new ways to spend money we don't have."](https://image.24vids.com/tw-1755033455539495096/ext_tw_video_thumb/1755033156930220032/pu/img/K06MFwOzOdw7zEO8.jpg)
Barry Sternlicht recently went on an EPIC rant about the Fed, predicting when they'll lower rates and the challenges the US is facing "Inflation will fall below 2% as soon as the rent component catches up to the data. The question is, when will the Fed lower rates? But here's where it gets really tricky... The economy is too strong. It's too strong because of public spending. It's not too strong because of private spending. Private spending is rolling over.... Everyone's laying workers off. But the federal government's hiring them.... They're spending enough money to keep these guys employed. So the Fed keeps using this really blunt, horrible instrument 5.5% interest rates with two huge victims, because we have a $34 trillion deficit, and the debt is going to roll over. A third of our debt rolls over this year. He can pay 5.3% on it, or he can pay 3% if he lowers rates. That's $200 billion. That's a quarter of the defense budget, which is the largest component of our budget. So he has a choice. Pay $300 billion on $13 trillion, or pay $500 billion on $13 trillion. It's up to you, right? So it's 3% or 5%. So that's one problem. Second problem is the regional banks. He's blown a hole through their balance sheets. There's $1.9 trillion of real estate loans in the regional banks... there's only $800 billion in the money center banks, and he blew their banks to garbage. These banks are out of business. They can't make money offering us 5.5% CD rates. So he's gonna have the next crisis if he doesn't lower rates. It's a serious mess in the capital markets and real estate and fixed income... anything that was yield related. Will he keep rates here? Yes, unfortunately. Why? He's up for, he's leaving in January. Powell's out. He's not going to be the guy who let inflation come back... I don't think we'll get the March cut. I think the data, as soon as inflation falls below 2%, there'll be a lot of pressure on him. That might be May. So I think June, you'll see cuts. It'll become very obvious that the private sector is struggling as the consumer runs out of money... And why has this economy kept going? Not only his spending, people have jobs. And b/c they have jobs and employment rates are good, so they're spending. But they're spending money they don't have. It's not in their savings account. It's all gone. And now they're on the credit cards. [And now] Americans are willing to live on Affirm. Now we have new ways to spend money we don't have."
Triple Net Investor334,121 görüntüleme • 2 yıl önce
![Barry Sternlicht recently gave a VERY insightful interview about tariffs and what it means for real estate prices - what he said is troubling: "The promotion of American manufacturing is a great idea, but we are not a manufacturing nation... We only have 13 million jobs of 160 million in manufacturing, and we're running a 4% unemployment rate. So I'm not sure who's going to work in all these factories. We're going to need some really quick efforts from Musk and Zuckerberg in robotics to actually build, have people work in these factories. Americans don't want to do that. That's not the jobs that they're interested in taking today... I think the tariffs are super complicated... I do think the focus should be on China. We run a $250 billion trade deficit with China... China is [the] second largest economy in the world with a fixed currency. And that alone is not right. That currency should go up and down with trade flows like every other major currency. So you start there. And I don't think the tariffs are tactical. And the if you put them in place, as [Trump] just did with steel tariffs, American companies will raise prices. So it is very inflationary. And for real estate, it's really bad. [For example] we need [Canada's] lumber. Or we can chop down our own trees but it's a bad thing. We run an equal trade deficit with Canada other than oil but we use their oil... if we don't buy it, they're going to ship it to Asia. For existing owners [of real estate], it's good because to build a new building will be more expensive. So the existing office stock, the existing apartment stock is going to be worth more. But it's bad because the numbers won't work to create new [buildings]. You won't be able to build anything. We already have a four to five million unit housing shortage... And you're seeing it in the sentiment of the builders that they're nervous. Everyone's a little nervous."](https://image.24vids.com/tw-1911554042742145505/amplify_video_thumb/1911553788067876864/img/e1ax0AoKoQBdJMBl.jpg)
Barry Sternlicht recently gave a VERY insightful interview about tariffs and what it means for real estate prices - what he said is troubling: "The promotion of American manufacturing is a great idea, but we are not a manufacturing nation... We only have 13 million jobs of 160 million in manufacturing, and we're running a 4% unemployment rate. So I'm not sure who's going to work in all these factories. We're going to need some really quick efforts from Musk and Zuckerberg in robotics to actually build, have people work in these factories. Americans don't want to do that. That's not the jobs that they're interested in taking today... I think the tariffs are super complicated... I do think the focus should be on China. We run a $250 billion trade deficit with China... China is [the] second largest economy in the world with a fixed currency. And that alone is not right. That currency should go up and down with trade flows like every other major currency. So you start there. And I don't think the tariffs are tactical. And the if you put them in place, as [Trump] just did with steel tariffs, American companies will raise prices. So it is very inflationary. And for real estate, it's really bad. [For example] we need [Canada's] lumber. Or we can chop down our own trees but it's a bad thing. We run an equal trade deficit with Canada other than oil but we use their oil... if we don't buy it, they're going to ship it to Asia. For existing owners [of real estate], it's good because to build a new building will be more expensive. So the existing office stock, the existing apartment stock is going to be worth more. But it's bad because the numbers won't work to create new [buildings]. You won't be able to build anything. We already have a four to five million unit housing shortage... And you're seeing it in the sentiment of the builders that they're nervous. Everyone's a little nervous."
Triple Net Investor177,816 görüntüleme • 1 yıl önce