Wealth Formula Podcast Podcast Por Buck Joffrey arte de portada

Wealth Formula Podcast

Wealth Formula Podcast

De: Buck Joffrey
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Episodios
  • 572: Zoning, Rent Control, and the Housing Shortage

    572: Zoning, Rent Control, and the Housing Shortage
    Aug 16 2026
    Why is housing so expensive in some American cities—and why does it seem like we can never build enough of it? We tend to blame everything from interest rates and developers to investors and population growth. But a big part of the answer may be much simpler: in many of the places where people most want to live, we've made it extraordinarily difficult to build more housing. My guest on this week's episode of Wealth Formula Podcast is Dr. Jan K. Brueckner, professor of economics at the University of California, Irvine, and an expert in urban economics and real estate markets. We talk about the basic economic forces that shape our cities, why housing affordability has become such a serious problem, and how zoning and other land-use restrictions can drive prices higher by limiting supply. We also get into upzoning, the push toward greater housing density, and why economists are generally so skeptical of rent control—even though it can certainly benefit the tenants who already have it. For those of us who invest in real estate, this is an especially interesting conversation because these policies don't just affect housing affordability. They can fundamentally change supply, rents, property values, and ultimately the economics of investing in different markets.
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    30 m
  • 571: The Great Real Estate Reset Is Happening—But in Slow Motion w/ Peter Muoio

    571: The Great Real Estate Reset Is Happening—But in Slow Motion w/ Peter Muoio
    Aug 9 2026
    For the last three years, commercial real estate investors have been waiting for a dramatic reset. The expectation was straightforward: higher interest rates, a wall of maturing loans, and distressed sellers would eventually force prices sharply lower, with the correction happening all at once. Instead, the great real estate reset is happening—but it's happening in slow motion. Today, we're seeing selective opportunities where quality multifamily assets can trade at discounts of 30–40% from prices just a few years ago. Naturally, many investors wonder if they should keep waiting for even better deals. But how much better could they actually get? One of the most interesting insights from this week's guest is that today's transactions don't necessarily represent a market that is still falling—they represent a market that simply isn't functioning normally. Most of the deals getting done involve either distressed sellers who have no choice or trophy assets that always command a premium. The vast middle of the market remains frozen as buyers and sellers continue to disagree on value. In other words, these distressed trades may not be evidence that everything gets cheaper from here. Instead, they may represent some of the best opportunities created during this slow-moving reset. This week's guest is Peter Muoio, one of the country's leading commercial real estate economists, and he helps us take a deeper dive into what's really happening. We discuss why today's environment is fundamentally different from 2008, why the so-called "wall of maturities" has become a slowly rolling wave instead, what finally ends the price discovery process, and why uncertainty—not a lack of capital—has become the biggest obstacle to a full market recovery. We also discuss why multifamily fundamentals may improve as new supply fades, why institutional capital is waiting patiently on the sidelines, and why some of the most overlooked opportunities may emerge from sectors investors have largely abandoned. If you've been wondering whether commercial real estate has already reset—or whether the best opportunities still lie ahead—I think you'll find this conversation both practical and thought-provoking. Learn more about Situs AMC: https://www.situsamc.com/ Sign up for Wealth Formula Investor Club: https://wealthformula.com/
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    29 m
  • 570: The Next Great Investment Theme? w/ Harry Moser

    570: The Next Great Investment Theme? w/ Harry Moser
    Aug 2 2026
    Link to Harry Moser's Resources blog: https://reshorenow.org/blog/reshoring-initiative-resources/ For decades, one of the easiest ways to increase profits was to manufacture products where labor was cheapest. Companies built factories in China, Southeast Asia, and Mexico, while consumers enjoyed lower prices and shareholders benefited from higher margins. It became conventional wisdom that globalization was irreversible. But what if one of the biggest investment trends of the next decade is the exact opposite? Today, the United States is making an unprecedented push to bring manufacturing home. Through the CHIPS and Science Act, the Inflation Reduction Act, and a growing list of incentives for industries ranging from semiconductors to pharmaceuticals to advanced batteries, hundreds of billions of dollars are being invested in rebuilding America's industrial base. This isn't nostalgia for the factories of the 1950s. It's about economics. COVID exposed just how fragile global supply chains had become. Geopolitical tensions with China highlighted the risks of depending on overseas production for everything from computer chips to critical medicines. Companies have also learned that the cheapest supplier isn't always the least expensive once shipping delays, inventory costs, quality problems, and geopolitical uncertainty are factored into the equation. In other words, businesses are beginning to optimize for resilience—not just the lowest sticker price. That shift has enormous implications for investors. If manufacturing continues moving back to the United States, the beneficiaries won't just be manufacturers. Industrial real estate, automation companies, robotics firms, machine tool manufacturers, utilities, natural gas infrastructure, logistics companies, and even regional housing markets could all experience significant tailwinds. But perhaps the most surprising consequence has nothing to do with factories. It has to do with people. For decades, we encouraged nearly every high school graduate to pursue a four-year college degree. Meanwhile, vocational education and skilled trades steadily lost prestige. Yet many of the jobs America increasingly needs today aren't additional marketing majors or middle managers—they're electricians, industrial maintenance technicians, CNC machinists, welders, automation specialists, and mechatronics experts. Many of these careers pay well into six figures while offering strong job security and growing demand. Then there's the wildcard that seems to be influencing every major economic discussion today: artificial intelligence. At first glance, AI seems like it should reduce the need to bring manufacturing back to America. After all, if robots and software can do more of the work, why not simply automate factories overseas? The reality may be exactly the opposite. As automation and AI reduce the importance of labor costs, other factors become far more important: proximity to customers, reliable supply chains, intellectual property protection, faster delivery, and national security. If labor becomes a smaller percentage of total production costs, manufacturing closer to home often makes more economic sense. Ironically, AI may not eliminate the need for American manufacturing—it may strengthen the economic case for it. Of course, that raises another important question. If factories become increasingly automated, what kinds of workers will actually be in demand? Will AI create millions of new high-paying technical jobs, or will it limit how many workers these new factories ultimately require? Those questions don't just matter for workers. They matter for investors trying to understand where capital, jobs, and economic growth are likely to flow over the next decade. This week on Wealth Formula Podcast, I sit down with Harry Moser, founder of the Reshoring Initiative, to discuss whether America is truly entering a manufacturing renaissance, why companies are rethinking decades of offshoring, how AI is changing the economics of domestic production, whether skilled trades may become more valuable than many traditional college degrees, and where investors should be paying attention as one of the largest structural shifts in the global economy continues to unfold. More about Harry Moser: Harry founded the Reshoring Initiative, leading the effort to bring manufacturing jobs back to the United States after a distinguished career at GF AgieCharmilles, where he served as President from 1985 and retired as Chairman Emeritus in 2010. His work has earned widespread recognition, including induction into the IndustryWeek Manufacturing Hall of Fame (2010) and the Association for Manufacturing Excellence (AME) Hall of Fame (2021). He was also named Quality Magazine's Quality Professional of the Year (2012), FAB Shop Magazine's Manufacturing Person of the Year, and received AMT's Al Moore Award (2026). Harry has been a leading advocate for U.S. manufacturing policy, participating in ...
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    48 m
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