Aired On Friday, May 29, 8 AM, On How to Money.
Know we're asking the question. Is The physical office. Dead like will work to actually commute in the future or are we all going to be working from home twitter. They recently made possible for employees to work from home for ever the same for employees of square. They make the the really great cash APP same. Ceo for both companies by the way. Oh Yeah you can see some parallels in how he's running both of those companies companies. All across the country are rethinking. How much office. Space that they'll need or whether or not they need needed at all you know like alphabet or the parent company of Google. They have backed out of tons of deals to get massive amounts of office like millions of square feet and so that additional space. That's something that they are not pursuing at least for the time being a man. I know you're just talk. Nobody Parts who works in a big commercial real estate firm and a lot of people have been predicting the demise of Commercial Real Estate. Because of the so yeah. What was your conversation like with him. And what's your take on that? Yeah man is a friend of ours David. He works for this massive commercial real estate firm and he's part of the research division. So this is you know what he breeze lives every single day. He's always looking at the future. Yeah yeah seriously. At and company they believe that the immediate need for commercial space will roughly stay the same because a lot of folks are going to want to get back into the office after working from home since they kind of miss out on the collaboration. You know that takes place there so you couple. That with the need for offices to become less dense with more space between workstations. This should roughly keep things where they are but what we're seeing though long-term is what it looks like to go back to work has changed for a lot of companies as they're being forced to implement new policies and how employees how they're learning how to effectively work from home. That's a really good point. I hadn't really thought about commercial real estate that as workers come back in you do require more space because people aren't GonNa feel comfortable working on top of each other like they were in an open office environment just a few months ago and so yeah could see actually companies needing a little bit space or at least even if they have that flexible work from home. They're going to at the same time. Probably have to limit how many people can come into the office win. The office does reopen. And they're going to spread people out so maybe they will continue to use all that space even though they're not cramming as many people into that space but of course we'll keep following kind of what's going to happen with the office environment and how that impacts all of us. All of our work lives in the coming months but man another thing we really talking about. Is that used car? Prices have gone down quite a bit sales in April. Were down almost thirty. Five percent in prices plummeted. Roughly twelve percent but from all indications seems to be like a temporary effect that was mostly due to the shutdown. And of course it makes sense that when there's a global health and economic crisis most people aren't looking to go out and drop fifteen thousand bucks at a local used car lot but now that the initial shock of the pandemic is. Kinda behind us is important to note the used car prices have gone down. And if you're looking to score a new to you used vehicle what you might want to take advantage of the low prices right now. These used car discounts are not gonNA last forever but they are in this really interesting sweet spot where prices have gone down a good bit for people who are in the market for for a new or used car. In general used cars are almost always going to be the best bet for folks who are looking to to save money when they're looking for a new to them vehicle this shift and really you know. The volatility in this pricing makes shopping around even more important in order to make sure that you're scoring a good price. You don't WanNa overpay. You don't WANNA pay January's rate for a vehicle that you're now purchasing in. May when the prices are really volatile like that. Make sure that you're aware of the going. Rates are and. Don't forget to used car inspected by a mechanic before you make that. Purchase that seventy two hundred twenty bucks. I could save you a massive amount of money and you know the headaches as well skipping that step on that front end that would definitely be an example of being cheap not frugal. I completely agree man. That money is totally worth it because yeah buying a car has a lot of issues me and how much of a pain that over time. Not to mention the money because it makes me think of inspections so we get on our houses before we buy them right. That's just a mandatory standard process of purchasing a home. But I mean vehicles. Obviously they're not as expensive as homes but there breeding expensive. But it's just not a step that most of take in is definitely something we need to implement. Yea completely and there was actually study recently. Done about the increase in used car. Affordability this website. I see cars dot com. They the numbers on over six million used cars that were sold in the past several months and they found out what makes models are experiencing the biggest price declines. And therefore the best deal for you right so they have a list of the best affordable used cars that will link to in the show notes. But if you want to know real quick the best used cars for under ten thousand bucks the Twenty Twelve Honda Civic a twenty eleven Honda Accord and the two thousand. Twelve Chevy Impala lace. I was surprised to see that Toyota wasn't in the top. Three you know. I think maybe Toyota's created too good of a name for itself and it's kind of driven the price up a little bit whereas maybe Honda Little undervalue. No surprise. See that too and it turns out. Yeah the in particular for some reason. The two thousand twelve hundred civic. The prices have gone way down and it is on the list of most affordable used cars at the same time. That's a good car for people. Look at if that works for how you drive and then you may be wondering where to look if you are in the market for used car. Well if you're wanting something that's maybe virtually new. You can get good discount with the car. Rental Company. Like Hertz Avis or enterprise as they regularly sell cars in their fleets with so many fewer folks traveling these days. These companies have taken a serious hit. Nobody is renting a car and last Friday hurts. They actually filed for bankruptcy and experts in the industry. They are expecting them to sell off a huge portion of its fleet. But if you do go that route definitely make sure to not skip the mechanic if you're going to purchase a vehicle straight from a rental company. Yeah we all know how we've handled Renell Y- cars in the past has always been beautiful has always been pretty. People tend to drive cars a little more aggressively than the drive. Their own vehicles right. Yeah Man. Unfortunately that's true. Yeah so you have to extra caution when you're buying one of those but if you're looking at other places for Dubai Used Car Carmax and carbon are just awesome if you want pretty new used cars and I have a feeling companies like those with delivery services are gonNA fair even better right now the way carbon and carmax bring the car to you. It's just such a wonderful pleasant experience. I think people are super for that even more so now in today's age we'll just to have to do the handshake. I think when you expect to a car ladder or somewhere in person. We were going to buy a car. You feel that handshake should be part of the deal. No LONGER NOAH. I think we have to accept that. That doesn't necessarily need to be a part of the transaction anymore A Nice little signature here and there say thank you and get out of there and if you're looking for even cheaper used cars right push matt you and I are totally up for craigslist and facebook. Marketplace are still two of the top places for people to go to to search for US. Cars that are even cheaper because why trump twenty or twenty five thousand dollars for a used car when you can get something really solid for under ten thousand bucks just like that. I see cars list. Explains There are great cars for under ten thousand bucks that you can buy. And those are the kind of cars that Carmax and carbon don't typically specialize in so if you're looking for something less expensive that works for how you drive craigslist and facebook marketplaces or two places to go to search. The makes me think of the needs eventually have multiple vehicles in our own personal families fleet as kids get older. We've got a lot of kids between US between you guys between us. If you're looking at ten thousand dollar vehicles that's a lot of money tied up in depreciating assets sitting out on the street think things are GonNa Change so much though from between now and when our kids are actually getting ready to drive on the road one. I don't even know if they're to want to drive and then too I think they're gonna be so many other options including who knows self driving cars in the next ten years. Are they going to get good enough to wear? Our kids are just literally calling a self driving car to pick them up and take them where they WANNA go. I could totally see that as our future. That'd be like the new subscription model. You're you pay to be a part of the service and he gives you access to wheels whenever you want so many miles a month via your smartphone or watch or whatever people are really into then man things are things are changing quick and I wouldn't necessarily call visionaries. I don't think we can be considered futurists but maybe those are some light predictions from us yet. Self-driving in the next ten years I'm going to say it's definitely on the man that's going to be it for this episode. We'll we'll put our show notes up on the website at how money dot com our buddy until next time. Best friends out best friends..