Logan D. Freeman

J. Clint Jameson has done 84 deals with a project value of 9 figures.

& he’s still cold-calling 30+ owners everyday.

I had the opportunity to meet him last week, while my family & I vacationed in Phoenix.

Here’s 3 lessons I took away from the week:

1) Surround yourself with winners.

- Starting with only $137 in his pocket, 
- He’s built this real estate empire. 
- 1-cold call at a time. 
- His work ethic is contagious.
- I feel the benefit of being around him with every conversation we have.

2) Consistency is everything...

- 18 years into building a commercial real estate empire, 
- CJ is still cold calling everyday. No days off. 
- It’s the building blocks of his success. 
- A saying I took away from the week: 
- “What you do today affects next year.”

3) Never quit.

P.S. Which lesson sticks out to you?

I'm about to say something that'll piss off half the people reading this.

Young people can't buy homes.

But it's not because they don't make enough money.

Peter Linneman proved this in the 1990s. Did a massive research study at Wharton with Susan Wachter.

Everyone was screaming: "Income's not high enough! Wages are stagnant! Millennials are screwed!"

Here's what the data actually showed:
►Income determines WHAT home you buy.
►Down payment determines IF you buy at all.
►And right now? Young people don't have the down payment.

Why not? Two reasons.

►Reason #1: Home prices went up because of the shortage.

We're undersupplied by 3.5 million units in this country.

That's not a guess, that's Linneman's math.

So if you need 20% down on a $400K house, that's $80K.

If shortage pushes prices to $500K, now you need $100K. That extra $20K might take two more years to save.

►Reason #2: Lifestyle choices changed.

(This is the part that's going to make people mad.)

25 years ago, young people didn't go to Europe. They didn't take ski trips to Vail. They didn't eat out every week. They didn't use DoorDash for every meal.
They saved. Religiously.

Today? Different calculation.

$3K/month for a nice apartment in a cool neighborhood
$200/week eating out and delivery
$4K ski trip
$3K Caribbean vacation
$150/month on streaming services and subscriptions

"Those sound like peanuts," you say.
Do the math. Over three years, that's $50K-$75K they could've saved for a down payment.

Now-I'm not saying they're wrong to make those choices.
I took my family on multiple trips this year. I eat out constantly.

I'm not judging.
I'm just saying: these are choices.

You can't have the experiences AND the down payment at the same rate previous generations did.

Something's gotta give. Here's where it gets interesting:

Linneman pointed out that during the pandemic, we saw this massive, tragic acceleration of deaths. People who would've lived another 5-10 years... didn't.

And what happened?

►Premature wealth transfer.
►Suddenly, young people who were expecting an inheritance in 2030 got it in 2021.
►Down payments showed up early.

And what did we see? The 2021-2022 housing boom. Bidding wars. Offers $100K over asking.

That wasn't just low rates. That was liquidity hitting the market from unexpected wealth transfers.

So here's my prediction:
►The $90 trillion wealth transfer from Boomers is coming. But it's not coming in the next five years.

Why? Leading edge of Boomers is only 77
► It's the SURVIVING SPOUSE who holds the wealth (typically female, longer life expectancy)

We're probably 10 years away from the real wave. But when it hits? You're going to see another housing surge. Massive.

Because suddenly, down payments won't be a constraint anymore.

What do you think? Am I off base here? Tell me why I'm wrong.