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Phil’s 3 Things

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I write briefly about 3 thought provoking things I read, heard or saw in the past week. I always include links in case you want to indulge more. Hope these add value to your life in some way, as they did mine! 

You can get these delivered to your inbox by clicking here

All past newsletters/blogs can be seen by clicking here


1. 
Is the NYC Real Estate Market Slowing? 
Last week I hosted my periodic Clubhouse chat with top real estate agents and experts. Here is a link to the entire hour chat if you are interested.  While things are still very strong, some top agents – 3 in particular – noted that they are seeing some signs of a  “slow down” especially for properties under $1M. Given the rapid rise in interest rates perhaps this is no surprise. One agent even mentioned that he had 3 buyers back out of deals recently.  Is this a harbinger of things to come? We shall see, but agents are usually the first to see it.  Note you can sign up to get these chats delivered to your inbox by clicking here

2.
Are You Listening for Justification or to Discover Something New? 
One of my favorite books of all time is “Awareness” by Anthony DeMello.  It is one of the few books I can read over and over again as I try to work on myself and be a better person.  A different passage always stays with me each time I read it. This time it is this: “…are you listening for what will confirm what you already think? Or are you listening in order to discover something new?”  In such a divided society, I would wager that most people do the former, unfortunately. I am sure I do that too, sometimes. I am always trying to do the latter 🙂


3. 
Own Debt is Good in an Inflationary Environment?
Owning debt may be a good thing in an inflationary environment.  Reading “Secrets of the Temple” by William Greider reminds me (page 43) that during the inflationary period of the 70s, many took on debt, especially home debt. When you get a loan, your interest payments are fixed. This means your expense is fixed in an environment where the prices of most things are rising.  This could be one of the reasons why even as interest rates rose dramatically during the 70s, people continued to take on debt and buy homes.  Higher interest rates may not have as negative affect on real estate sales as many think. 

Have a great weekend! 

Best,
Phil Horigan
Founder, Leasebreak (marketplace of shorter NYC leases)

–>You can learn more about how Leasebreak can help renters and agents agents by clicking here.  
–> You can learn more about what I am up by clicking here

Hi Everyone! 

I write briefly about 3 thought provoking things I read, heard or saw in the past week. I always include links in case you want to indulge more. Hope these add value to your life in some way, as they did mine! 

You can get these delivered to your inbox by clicking here

All past newsletters/blogs can be seen by clicking here


1. 
Frank Slootman: Be a Driver, Not a Passenger
Frank Slootman is the tough talking CEO of a fast growing company called “Snowflake”.  He recently wrote a book I am reading called “Amp it Up” about how to lead fast growing companies by “raising expectations, increasing urgency, and elevating intensity”.  One of this concepts is to make sure you and everyone on your team is a DRIVER not a PASSENGER.  Passengers are “dead weight”. They may be good at identifying problems, but not at solving them.  Drivers get their satisfaction from making things happen.  Faced with a challenge, he says drivers say “Why not” rather than “That’s impossible”. 

2.
Market Update from Top NYC Experts
I hosted a great call yesterday with some of the best minds in NYC real estate to discuss an update on the NYC real estate market. You can access the recording of the call by clicking here. If you want get notified of future calls or recordings that we do, please click here


3. 
Amazon Visa Card Gives back 5% on all Purchases? 
Okay so I may be late to the boat here, but I just heard that you can get a Visa Card in partnership with Amazon where you get 5% cash back. There is no annual fee.  That seems like a pretty good deal. I got the idea from reading Terence Michael’s book, Make Bank.  He suggests to just link the card right in your Amazon account.  It is like getting 5% off of everything! 
 
Have a great weekend! 

Best,
Phil Horigan
Founder, Leasebreak (marketplace of shorter NYC leases)

–>You can learn more about how Leasebreak can help renters and agents agents by clicking here.  
–> You can learn more about what I am up by clicking here

Hi Everyone!

I write briefly about 3 thought provoking things I read, heard or saw in the past week. I always include links in case you want to indulge more. Hope these add value to your life in some way, as they did mine!

You can get these delivered to your inbox by clicking here.

All past newsletters/blogs can be seen by clicking here.

1.
Ray Dalio Says Real Estate is NOT a Good Inflation Hedge…and Other Downsides
On the Prof G Podcast, Scott Galloway interviews the famous investor Ray Dalio. They talk about many things but they spent a few minutes on real estate.  Ray Dalio wants you to consider this when purchasing real estate as an investment: Real estate, he says, is the easiest asset to tax. Property taxes is one of the first places the government goes to raise money. Ray Dalio also comments that he likes assets better that he can “change his opinion on” (i.e. more liquid). He also says that real estate is NOT a good inflation hedge because it is much more “interest rate sensitive” than “inflation sensitive”.  There is no good data, Dalio says, showing a correlation between inflation and real estate.

2.
“Memento Mori”
Toward the end of Dan Ariely’s incredible book “The (Honest) Truth about Dishonesty.” , Dan reminds us about something interesting that happened after the Romans would win a war and celebrate.  Throughout the day as the Romans were marching through the city celebrating, a slave would whisper into the general’s ear: “memento mori” which means “remember your mortality”.  As Dan says this was “to prevent the victorious general from falling into hubris”. He reasons that we should have something like this in modern times, perhaps renaming it “remember your fallibility” or “remember your “irrationality”.

3.
Top Economist Thinks Inflation is Here To Stay For Decades
The Wall Street Journal ran an article on Wednesday discussing how Charles Goodhart, a world renowned influential economist, predicted high inflation will be with us for decades.  Because Charles Goodhart has been right so many times, many people take him seriously.  He was even warning about the buildup of leverage before the 2008 crash.  Charles is quoted as saying: “The coronovirus pandemic will mark the dividing line between the deflationary forces of the last 30 to 40 years and the resurgent inflation of the next two decades”.

Have a great weekend!

Best,
Phil Horigan
Founder, Leasebreak (marketplace of shorter NYC leases)

–>You can learn more about how Leasebreak can help renters and agents agents by clicking here.  
–> You can learn more about what I am up by clicking here

Hi Everyone!

Thanks for subscribing to my newsletter and blog!  I like to keep it brief. Hope these add value to your life in some way. Here are my 3 things for this week on Friday, March 4th, 2022.  You can get these delivered to your inbox by clicking here.

1.
Book about Self-Deception
This week I am reading Dan Ariely’s incredible book “The (Honest) Truth about Dishonesty.”  Dan backs up everything with experiments and research.  I find it fascinating the way we continually deceive ourself and others.  It is a little sad actually.  ONE EXAMPLE: When a person is required to disclose their “conflict of interest”, it seems that they act even more inappropriately, and the “client” is left far worse off! (pg. 92)

2.
Top Real Estate Experts Discuss NYC Real Estate Market Next Thursday, March 10th, 2022 
If you want an email with a direct link to this free hour long update on the market, please simply click here and enter in your email.

3. 
Warren Buffet is not the Best Investor! (And he earned 97% of his wealth after 50)
Morgan Housel – the author of “The Pyschology of Money” – on Tim Ferriss’ podcast discusses how Warren Buffet is probably only viewed as the greatest investor of all time due to the length of time he has been investing (80 years) and the nature of “compounding”. He acknowledges of course Buffet’s brilliance, but argues that the label of the “the best” is solely due to the law of compounding.

Have a great weekend!

Best,
Phil Horigan
Founder, Leasebreak (marketplace of shorter NYC leases)

–>You can learn more about how Leasebreak can help agents and renters by clicking here.  
–> You can learn more about what I am up by clicking here

Hi Everyone! 

Thanks for subscribing to my newsletter! I like to keep it brief. Hope these add value to your life in some way. Here are my 3 things for this week…


1.
Seven Traits of an emotionally fit leader.
I heard Dr. Emily Anhalt on the “Prof G” podcast. She is the founder of COA.  After much research she concluded that these were the 7 traits of an emotionally fit leader.  Do you agree? 
-Self Awareness
-Empathy
-Mindfulness
-Curiosity
-Playfulness
-Resilience
-Communication


2.
NYC Real Estate update Ryan Serhant (#1 NYC real estate agent) & Urban Digs. 
Provides good update on the NYC real estate market and where we are going.  Here is the link to the YouTube URL




3. 
Book on Life Extension written by professor of Genetics. 
In his mindblowing book, Lifespan – Why We Age – and Why We Don’t Have to, Dr. David Sinclair makes you truly believe we are only about 10 years or so away from major breakthroughs in life extension.  Will a healthy vigorous 125-year old soon be the new norm? He thinks so! I am about 2/3rds through the book. Just fascinating stuff.  

By the way, if you know anyone interested in playing pick up soccer in NYC’s Central Park in the spring, let me know! 

Have a great holiday weekend! 

Best,
Phil Horigan
Founder, Leasebreak (marketplace of shorter NYC leases)

–>You can learn more about how Leasebreak can help agents and renters by clicking here.  
–> You can learn more about what I am up by clicking here