March 22, 2024

Did the real estate industry just change forever?

On this week's episode, Dame, Kristen, and Pete discuss whether the NAR settlement will shift real estate prices significantly. They also make predictions as to how low real estate commissions will go in the next couple of years.

Episode Transcript

Peter Dunn: [00:00:00] You know, every once in a while, life serves you a delicious piece of peanut butter pie, and by peanut butter pie, I don't actually mean peanut butter pie. I mean, I've got the entire house to myself this Saturday night. Kristen and Dame, you're not invited over, but, Dame, when's the last time you had for an entire weekend night The entire compound to yourself and you could do whatever you

Damian Dunn: wanted.

It probably, I mean, I know one night specifically about a year ago, exactly when the fam was in a different city for a swim weekend. And I couldn't attend because I had COVID again. So that wasn't quite as enjoyable as, as what you're what you're describing, but I would say there was probably.

A swim related event that I was left at home for in the last six months. And it's, it is a unique

Peter Dunn: feeling. Well, I'm at full strength, [00:01:00] Kristen. I want to tell you what a gentleman of my ilk might do on a Saturday night. Okay. All the world is my oyster. Cause I look, there's options, Dan. Well, like Mrs.

Planner and, and my daughter are in a different state. Theodore is a sleepover. Like I could go out to eat by myself. I could go see a movie. And here's what I'm going to do. I'm going to watch the new roadhouse on Amazon prime, and I'm going to make Detroit style pizza. That's what I'm doing. That's my Saturday night.

I'm so excited.

Damian Dunn: What are you going to pair

Peter Dunn: with that pizza? Good question. I'm also going to make chicken wings

and probably consume a Bev.

Damian Dunn: It sounds like a great night. I know

Peter Dunn: you kind of want to come over. Like I know I'm not fun to hang out with and, and, and you know that too, but you kind of want to come

Damian Dunn: over. It would be great to eat pizza and wings and share a bev and sit on the couch and not say a word to each other watching

Peter Dunn: Roadhouse.[00:02:00]

Kristen, I am not officially, in a creepy way, inviting you over to my home alone this Saturday night. Just for the record. Got it. But does it sound at all appealing to sit and watch Roadhouse, the remake, and eat Detroit style pizza and wings and bevs on Saturday night?

Kristen Ahlenius: You guys, I can do that any Friday or Saturday night.


Peter Dunn: All right. Hello everybody. Full squad back, right? The gender episode was a hit last week. I got some positive emails. We got some dissenting opinions. From people, which is great. Like, look, you know, we love it, right? Damn.

Damian Dunn: Yeah. I wasn't here. So way to go guys. Way to, way to stir up some controversy

Peter Dunn: while I'm gone.

Dave, did you catch any of it? No. Good. Perfect. We did receive a review on iTunes here recently. [00:03:00] True. And to be Dame, you don't read the reviews anymore. Do you, or are you, I'm way past that. Yeah. I thought I thought I, I never read the reviews. I don't. Actually care, but Kristen is still in the stage of her media career in which she reads the reviews and She sent the following one through from last month I've been tuning into financial podcasts for several years now and let me tell you most of them are as fresh as weak old bread Recycled topics and ads galore, but then there's the PTP show The Seinfeld of personal finance podcast.

It's about nothing. And that's what makes it gold. Sure. They throw in some solid financial info and banter, but what I really, what really shines are the hosts. Peter's humor was my mom, right? This Peter's humor is so suburban dad. It's practically wearing socks with sandals. Dame's got that high class [00:04:00] redneck vibe going.

I don't. And Kristen? Well, she's the glue holding these two together, keeping them from bickering over who had the better hairline in their glory days. That's really well written.

Damian Dunn: We can squash that debate immediately. It was you. I would be shocked if it wasn't you that had the better hairline.

Peter Dunn: Back in the day Yeah, I think I, I liked my hair when I had it.

We can start calling Kristen Elmer. Yeah. Elmer's glue or rubber cement. Oh my. Okay. I did write a G a AI inspired theme to the radio show this week, but we're in a hurry. We got to go. I have to be out of here in 50 minutes total and I've just burned the extra four minutes. We're going to start the show next week.

Maybe I'll play the new theme song to the show. It's called Kristen and co. Okay. Start your clocks, lady and [00:05:00] gentlemen, in three, two, this week on the Pete, the planner show, we answer your money questions. Here's how the show works. You email us, ask Pete at Pete, the planner. com that's ask Pete at Pete, the planner.

com and here's. There's a number of things that could happen as, as often happens when an email is sent into the nethers. Nothing could happen or it could be read on a moderately popular radio show and a wildly popular podcast called the Pete, the planner show. Hello, Damien Dunn. Hello. Hello, Peter.

Done. Hello, Kristen. Alanius. Hello. Hello. I've got the caffeine in the right spot right now. Let's do a show. Hey, Dame this week in the news, this isn't the news segment, but guess what happened, the real estate market got turned on. It's had forever in perpetuity, which is, I guess, I believe that means forever.

Dame, how closely did you follow the real estate upheaval that was the [00:06:00] last two weeks of life in America?

Damian Dunn: It's been a story that we've been following for a while because we saw this coming from a ways away. And It's interesting because depending on which Avenue you're getting your information from, you either hear that this is going to be an absolute disaster, or it's going to open up a lot of opportunities for for buyers and sellers as well.

So I don't know where I stand on it just yet. I'm not entirely sure how it's going to get implemented across the country as well, because NAR doesn't cover every realtor in America.

Peter Dunn: Most. Like a lot. So here's the news tidbit. The National Association of Realtors in a settlement have now are, have agreed to not price fix commission rates at 6 percent that they are negotiable.

This is a massive deal that has frozen out people's ability to truly negotiate In good faith the amount they pay to realtors for [00:07:00] these transactions before we discuss this I mean we got to hit the you got to hit the the obvious here. We have nothing against realtors Realtors are great. Like it's true.

I find them to be one of the most important types of financial advisors a person can have But this is gonna rock Things up. Kristen, you recently purchased a home of which you are in right now. Yes. And you used a realtor. I did. Do you know what percentage you paid? I

Kristen Ahlenius: didn't because I was the buyer. Okay.

Peter Dunn: Fair. Yes. Splitting hairs to a bald man is always a good time, but you do realize that of course there was commission on the deal and the, the, the seller had to deal with that. Do you know that what that percentage was?

Kristen Ahlenius: I believe that it was

Peter Dunn: five. Okay. So two and a half to two and a half, I would assume would have been the split two and a half to the buyer's agent, two and a half to the seller's agent.

Six has been the standard for a while. It was seven. And so Dane, what we're now understanding is there's going to be a [00:08:00] race to the bottom. I mean, you could find people trying to do high volume at 1%. What, what do you, what do you think is going to happen here? Yeah, it sure feels

Damian Dunn: like it. And I, It depends on, are we going to see specialists for certain things?

Are we going to see sellers agents that, that try and specialize in that? Are we gonna see buyers agents specifically? Like maybe, maybe they set up a, a menu of services that they could provide for their clients on the buyer side. You can pick and choose and pay directly because it's very possible that when the seller puts this out there, they say, I'm not giving anything to the buyers agent and to make their services a little bit more accessible.

For their clients, maybe they choose to just kind of do flat rate stuff instead of percentages. I think there's going to be some very unique solutions that are developed in the coming years in this area. And we're only going to see the tip of the iceberg.

Peter Dunn: Kristen, you had some pretty hot takes at the your Moneyline headquarters this week when you journeyed down this way and I saw you and [00:09:00] you got pretty spicy with it.

Care to share your thoughts, especially as it relates to the when you're purchasing a home.

Kristen Ahlenius: Yeah, I think it's the thing that's hard for me is as someone who is an avid researcher in, I have bought and sold. Both. I've lived in a couple different houses and as an avid researcher, I felt like my ability to bring a lot to those conversations wasn't compensated for, wasn't taken into consideration with the compensation model.

My the home that I purchased most recently, I did. The majority of that research and that wasn't reflected in what the seller then paid, in my opinion, so that's where I kind of have an issue with it from a personality

Peter Dunn: perspective at the closing of the purchase of the home. You didn't like getting people's faces, like, do your research or anything like that?

Did you?

Kristen Ahlenius: No, I [00:10:00] did not.

Peter Dunn: I think it's possible here. And this is just a, I mean, this is a gut feeling. I think what's going to happen is there's going to be these tranches of home prices and it are gonna be standard deviations of what the average home price in America or in an area is. So let's just pick, let's, Let's say 500, 000 is the average price of a home in America.

A Dame, I think it's something like the 400 range, but whatever. I think because there is a pool of properties in a pool of buyers, a marketplace that can come together and and create that as the average transaction price. I think that there'll be like a one or 2 percent commission on that. And as things move, from the standard deviation out, that's where you're going to see increased fees because it is theoretically more difficult at those price levels.

Yeah, I have no idea what I'm talking about, but I am wearing a sport coat today. [00:11:00] What, what, what say you? It's an interesting

Damian Dunn: theory. I mean, you're essentially saying that there's going to be break points almost for charges or commissions in real estate, much like there are in some retail mutual funds, which I guess I could see that my, my counterpoint would be.

We've talked about how financial advisors are compensated every which way on this show multiple times. Do you think there gets a point where some realtors just say, I've got a flat fee, all of this all in flat fee, and I don't care if you're selling your home for 300, 000 or 750, 000, this is what it costs to engage me to sell your home.

Peter Dunn: Well, Kristen, I mean, we've been having this discussion for as long as we've known each other collectively, the three of us the reason that hasn't been the case is because it hasn't had to be the case. And for financial advisors, that was the argument for a very long time of like, yeah, you could do that, but that's not what the market supports.

Just charge 75 basis points or a point on, or I mean, 100 [00:12:00] basis points on 5 million bucks and there's your comp.

Kristen Ahlenius: Yeah. And what's interesting is there's a parallel here for me from a money psychology perspective, which is that the fees that are paid are just like part of the overall package. Like when you're selling your house, you don't have to write a check to the realtor for 5%.

It's like, Oh, here's what you made. And here's what you owed. And here's some taxes that needed to be paid. And, and, and, and then here's your check. Or here's the amount that we're going to give for For the new house for this mortgage, I just feel like the conversation is totally different. If you make a seller, write you a check for the commission.

Peter Dunn: Do you think this lowers housing prices? No, I agree. I agree. Okay. So I was listening to New York times podcast this week about this and they were like, well, people typically increase the price of the home by 6 percent to cover real estate [00:13:00] fees. And I'm like, No, they don't I I don't believe that's true new york times.

Damian Dunn: No, i've never heard somebody say well We're gonna sell our house for three hundred thousand dollars But our realtor said we need to bump this up just a little bit to make sure we cover all the associated feet No, 318 318

Peter Dunn: They come

Damian Dunn: back and they say this is what the market's gonna hold for this house Don't mind these other fees that are over there.

They, of course, they don't say that, but that's just it. That's not a consideration.

Peter Dunn: People keep asking me, we're on a live stream right now and I am addressing a nice sport code and people keep asking, like, is there a funeral? Do I have a job interview? Am I selling a house later? Here's the thing. And it's just the truth.

I have a business meeting with a gentleman this afternoon who happens to always be very well dressed. He's a lot more handsome than me. So I just had to do the best I could to match it with the dressing, obviously. All right, Dame one year from now, what do you believe the average real estate commission to be?

All in? All in. [00:14:00] Four and a half. Kristen? Four. Three. Listen, we're going to come back with more of this show right after the commercial and what it's going to be is an email from a listener. Could be you, might not be you. AskPete at PeteThePlanner. com. I'm Pete the Planner. Okay. That

Kristen Ahlenius: was a good outro. I liked that.

You did?

Peter Dunn: Yeah. I wish I could play the let me see if I can play the I'm going to play it. The theme song. Yeah, it's, it's going to be weird audio because I wanted to hook it up, but I don't have time for this, but what are you going to do? Here it is. Was it the twangy one? Yeah. Everybody.

He and Damien fall and grouchy, but Chris is the star, young, young and sassy.

Damian Dunn: Turned into [00:15:00] Kristin, the

Peter Dunn: damn foe, when it matters and dreams are stole, they'll guide you through your financial strife, with Kristin leading the way. It's a brand new line.

So A A I wrote that. Completely wrote that. I, I just filled in a few details and it wrote it.

Kristen Ahlenius: Did you call me sassy or did A I just assume?

Peter Dunn: That's a great question. Just curious, you know what? Let me see. I don't, let me see country song about the Pete, the planner podcast. The show should be called Kristen and co because Kristen is the star.

Damian and Pete are old grumpy bald men. Kristen is young and smart. Those were my instructions.

Kristen Ahlenius: So it just nailed it. That's amazing.

Peter Dunn: Yeah. Anyway let's get back to the [00:16:00] show. We're doing the email from what's her name? Barbara, clarity,

Kristen Ahlenius: Martha,

Peter Dunn: sure. Okay. Three, two, one back on the Pete, the planner show, answering your money questions.

Sometimes we received an email this week from the most important listener. We have that person's name is what's the, what's the person's name? Martha, Martha. Never forget it.

Dear Pete. Kristen, And Dame, time out. Granted. Dame, I really, the other day, talking, I was talking about you, and I called you Damien to something. Really? What? And it, like, shook me to my core. Cause no one calls you that in this organization.

Damian Dunn: I say it had to be outside of our organization because the, I mean, I've told the people this story many times before working for your money line I could count on one hand [00:17:00] the number of people that have ever called me Dame in my life Yeah, and now there are people that don't know me by anything other than

Peter Dunn: it's so weird Tens of thousands of people.

My sister, Patricia is a faithful listener. She has me hooked on your show. Not only cause I appreciate your humor, but the easiness associated with the feedback, you all approach financial topics. I'm using my sister's email to ask since you've responded to her before. My question is I am 60 years old, retired medical doctor with a pension and no outstanding medical records.

debt. I wonder if she's single because that is great. 60 retired. I'm considering, I am not single by the way. I, I might be after this show. I am considering a second home. However, it is a good decision. Is it a good decision to finance a second home? Can I get another timeout? Sure. When I first got my head around as a kid, that people could have multiple [00:18:00] properties, you know what I mean?

You sort of figure you're like, Oh, they've two homes for whatever reason. Just like I used to think I use a mascot was a cactus for whatever reason. I thought that people would just accumulate homes next to each other. So it's like they, Oh, we have one home. I have two homes. And then you would just walk to the next door to your other home.

I didn't realize that the concept was to have homes in different places. Eventually

Damian Dunn: you just have a block. You probably got that from Monopoly. That's what I was just thinking.

Peter Dunn: You know what? That has to be it. But now it turns out I have one of the world's foremost experts. I'm considering a second home.

My primary home is paid off five years ago and I placed the mortgage payments on a high yield at the time money market account at 5 percent each payment. I've rounded up the two grand a month. Right now the money market holds about 125 grand which I plan on using as a down payment for the second home.

I don't have children and I'm, I'm a widow. I have a small foundation that [00:19:00] supports research time out.

Damian Dunn: You've got to be careful with this.

Peter Dunn: Okay. Kristen does research. Yes. I mean, Kristen, are you involved with this research foundation? In the last segment you were talking about all the research you do.

Kristen Ahlenius: I'm not involved with this foundation, no.

Peter Dunn: This person has a small foundation that supports research and she's a former, like, this is a remarkable human. It

Damian Dunn: really sounds like something that you would aspire to later in your life. Back to the Peter Dunn Foundation. What would your foundation be called?

Peter Dunn: What would it be called?

Kristen Ahlenius: Wouldn't be your namesake.

Peter Dunn: No, probably not. I would call it something like, I don't know. Anyway, I've always dreamed of a second home, but work was always a priority. Now it's feasible for me to make that dream come true. The home I'm looking at will be a small cabin of 950 square feet, which will cost upon completion of 380, 000.

I can't imagine the real estate fees on that. Please make some options as to what a 60 year old woman should do to finance a second home [00:20:00] where there are other options I should consider. Thanks, Martha. This is phenomenal. Yeah. I did hear a thing the other day. This person said that this is her dream.

It was a movie I was watching. They said, when you're 50, you don't have dreams anymore. You have nightmares and psoriasis, which I thought was a funny line. But anyway what do you think y'all?

Kristen Ahlenius: Man, I think there's two different things here. Can Martha finance a house and is Martha going to be comfortable financing a house?

Martha, there are so many things that happen in our financial lives that whether we want them to or not lower. Our gut for risk. I think having a pension just lowers your gut for risk. Like you just can't help it. And not having a mortgage just like reduces your risk tolerance. You just can't help it. And I wonder how someone in this position would feel without earned income specifically to say, Now I have a [00:21:00] liability when I haven't had one for five years.

Damian Dunn: It's an interesting point. I mean Do you propose that? having fixed income lowers your appetite for risk.

Peter Dunn: I don't know if I agree. I agree with Dame disagreeing with Kristen. Yeah, we're all, we're all closer to having a pension. I mean, we don't have them, but we're old. Yeah, I agree with you.

Damian Dunn: If I, if I, if I know that my.

The food's gonna be on the table day in day out and there's gonna be a roof over my head Regardless of what I do. I'm probably gonna be more comfortable taking some swings because it

Peter Dunn: doesn't matter A bird in the hand is worth two in the bush. Sure What? It's an old saying. You've never heard that

Kristen Ahlenius: saying?

I have. Okay.

We're trying to do a show here, gentlemen, [00:22:00] but I, are you too biased because you're personal finance experts? Is that actually true to the masses? Think about the people we work with that have fixed incomes, that have pensions are taking social security, who like, I don't think that that's true in mass.

Peter Dunn: Okay. So we focus on people's stability around here at your money line. And so if that's the argument of people trying to find stability, that's one thing, but what a pension brings that not having a pension doesn't is certainty. And I believe certainty to be more valuable than stability when it comes to a person's retirement.

So I don't, I mean, Damon, I can certainly articulate our comfort with a pension in that regard, but I think other people might just feel it and might not be able to put into words what it is that makes them feel good about their financial life. I don't know. What, what do I know? I mean, I know a lot, but [00:23:00] what Dame knows a lot.

Wait, let's answer her question. How about this? Should she, when she said 950 square foot cabin, I'm in my buddy friend of the show, Neil, he has like a 300 square foot cabin in the woods. That is the most glorious place on the earth. It is, it smells of whiskey and old records. And, and I, it is the most glorious place on the earth.

I want Martha to get a small cabin. That's what I want. Regardless,

Damian Dunn: whether it's fine

Peter Dunn: or what it is. Yeah. So I default to yes. Is anyone going to ruin Martha and I's dream here?

Damian Dunn: No. I, no, no, if, if the numbers work out and she is, is fine with it, I, I think, I think

Peter Dunn: she should do it. I think she should do it too.

And here's the thing. Let's say it goes wrong. Just sell it. And [00:24:00] in the commission on that, it's going to be really dirt cheap.

Kristen Ahlenius: Oh my, I think this is much more about an money, an emotional weight that we put on money more than anything else and how we go from accumulation of money to then having to come away from those deals.

dollars and changing the structure of presumably for the last five years. Her financial reality has been pretty consistent and this is a change. We just prepare ourself for change. But I absolutely think that Martha should do this

Peter Dunn: 60. The other thing, here's the other thing that. 60 is young. Enjoy your life.

You have a dream. You've been a medical doctor. You have a foundation. Think of yourself. Go, go do it. Now we can't say this to everyone who emails us because the circumstances don't dictate it. But like YOLO, that's what I'm saying. Like, come on. I so badly. Want this to happen [00:25:00] because there's another way out of it.

If it goes wrong, that's the thing. It's not a permanent, like, you don't ruin your financial life by doing this. All right, let's take a break coming back after the break. More on the Pete the Planner show. I'm Pete the Planner a slack channel lighten up. I wasn't ready for it Oh,

Kristen Ahlenius: I have my mute notifications.

Oh, I

Peter Dunn: never yeah What are you guys doing

Damian Dunn: trying to pay attention to the show?

Kristen Ahlenius: Well, that was we were both a little hot on that we're paying attention

Peter Dunn: Okay, mm hmm gang I

was talking to Mrs. Planner last night talking about like the things we've upcoming in the next month and a half and We have to go to a black tie event at the end of April. Mm hmm And I said, oh, yeah, we got that. So I'm gonna need to get my tuxedo[00:26:00]

Shape changed sure And she's like, oh really why She made me say it. She made me say it. Because I look like I've been rotting on a southern beach. Like a, like a, like a sperm whale. Like a, like a bloated, gassy sperm whale. And that's my, that's my carcass now. Of which I'm going to have to stretch fine fabrics over.

And I need, I need to alter the shape of the tuxedo. Just

Damian Dunn: don't let anybody with sharp implements get close to you.

Peter Dunn: Exactly. So I mean, there's something humbling about taking in a tuxedo to be largened. Okay, we gotta go in three, two, back on the Pete the Planner show. Oh, I don't know why I [00:27:00] said it like that.

We had another question come in this week from a human non sentient being. I've been an avid listener for years and I've always appreciated the practical and empathetic advice you give recently, I found myself in a challenging situation and thought this might be something you could address. On the show, I was very unexpectedly laid off from my job.

And while timeout Ooh, very was bolded. Okay, you're right. It's like, I mean, very And, and how very was it? Very, like, very, that's, oh yeah. The uncertainty of it feels like I'm making fun of this person by saying that. 'cause they're about to talk about job loss. So I, I regret pointing the time. The uncertainty of how long it will take to find a new position is daunting.

What steps should I take to manage my finances during this period of unemployment? What can I do now to position myself better for [00:28:00] the future? I love this question. Sorry, I made a joke. Kristen, how, how do you begin to attack this? Well,

Kristen Ahlenius: there's always a lot in the unsaid as we, we discuss on this show. And someone who bolds very and saying they were very unexpectedly laid off from their job.

I have concerns about what level of emergency savings are

Peter Dunn: here. Okay. Oh, oh, damn. I'm so glad that we went to her. Had you picked up on that as well? No.

Wow. You're so right. The person was shocked because they were unprepared. Right. Okay. So this is a, this is a, how do you dig out of a hole and everything feels dark and there's not a lot of hope.

Kristen Ahlenius: Potentially, I mean, maybe they're an [00:29:00] avid listener. Maybe they take our advice about the importance of emergency funds, or maybe what's probably more true is that we see this all the time on at your money line is someone says.

In a perfect world, I would have more in emergency savings, but I feel really secure. So I have a lower level because I feel like my gut for risk in this respective is pretty high. And I would assume based on some of this language that that's what we're experiencing is someone who maybe has like one or two months of emergency savings and they knew they probably should have had three to six, but they felt really secure where they were at and they had other goals Dame,

Peter Dunn: how do you view this?

Damian Dunn: I first, I'm just tickled that, that Kristen is now reading into questions the way that we, it's, it's beautiful. I love that. She's great. We really

Peter Dunn: ruined her.

Damian Dunn: Yeah. We're just making wild assumptions based on very little. It's great.

Peter Dunn: With bold [00:30:00] font. She's like, you know what? I bet this person's a German.

It's like, what? How? How did you get that? Like four, four,

Damian Dunn: four, very dark letters change everything. I I think that this individual is probably unprepared, but they have an opportunity to become very, very familiar in dark, even very in dark, bold font, familiar with how much money they're spending on a week in week out basis because you don't have a lot of levers that you can pull right now.

But that is one to some degree that you have complete control over how much money you're spending. And if you ask, if you're asking the question, what can you do now to position yourself better for the future? That's it. That is one of the takeaways that you can walk away from this experience with becoming intimately familiar with how you spend money, where you spend money, how much you need to live on.

In a, we'll go ahead and call it a crisis situation for you. Now that doesn't necessarily help the immediacy of the income issue, but [00:31:00] it will certainly stretch those savings that you have set aside as long as you possibly

Peter Dunn: can. Here's where my brain goes, and it's probably the wrong spot, and, and please, both of you, beat up.

First off, I don't know. I can't conceive of this being a reality for me. I'm just being honest and in a couple different ways. Number one I'm my own employer. Number two I have an emergency savings in my, the brain that I have that goes to solve this problem would also be the one that has theoretically an emergency savings.

So that, that's where, you know, It's already off the rails, but if I'm, I'm in this situation, I think I would go and get a job immediately just earning something. And this isn't like, go drive Uber, drive DoorDash. And I don't know why I use that voice. I think it is, I would go find a job somewhere, just earning something.

Is that not a thing people do? How out of touch is [00:32:00] the old man today?

Kristen Ahlenius: That's really interesting because something that I noted in my pre show prep was social comparison or pressure to find a job quickly. Because if you're someone who wasn't expecting job loss, you might not have been perusing opportunities that you could be a good fit for.

You might not even have a gauge on whether your comp was competitive or not for better or worse. You might not know how many opportunities do or don't exist. And I think about like for, This is different because I could see myself in this situation. I just messaged Pete yesterday on Slack and was like, if you're firing me, I'm busy.

So this is like a constant fear of mine. I just wanted to chat.

Peter Dunn: You know, are you available? I was like, Hey, are you available? I wanted to talk about work. She's like, if you're firing me, I'm not available. And I'm like, okay, what do we do? I'm not firing you. I just, I wanted to talk about a project. So,

Kristen Ahlenius: so that's like a [00:33:00] constant fear of mine, right?

Like, it doesn't matter how many times someone could tell me that I'm doing a good job. Like I'm always like thinking what could happen. So I think like, okay, what if I like had a weekly dinner with like my parents or something like Sunday brunch and every Sunday they're asking me, Kristen, did you find a job yet?

Kristen, did you find a job yet? The hiring process isn't sure like even if you're any job that you're applying for could take four six weeks for you to be hired at And I think that that social pressure of like have you figured out the next step there's shame that comes with that We're talking about the next potential launch point of a career If you're someone who is like really like career focused, you're talking about your next launch point.

So I think that that's a hard thing to navigate.

Damian Dunn: I don't think that's exactly where Pete was going with it though. He's saying go do something to bring some kind of income in and you don't have to go find the equivalent position in another company. Just go get a job to get some income [00:34:00] to try and make that savings last even longer.

Peter Dunn: I'm out there at Chick fil A, my pleasure. And that fast, you know what I mean? Like, I think, oh, not on Sunday. And you got Sundays off, but that's what I was talking about. And. Again, is this the, the pseudo boomer in me? I, I don't know, but like my brain, every time I come to this situation, I'm like, yeah, I'm at home Depot.

I'm putting on an orange smock. Let's go.

Damian Dunn: I do think this question is particularly hard for you specifically to relate to because you have if it's not happening, people, if you're listening in HQ two, this is not happening, but if the door's closed on YML today, You would have multiple offers by this time next

Peter Dunn: week, Staples office.

Yeah. Like I can do things. I have no skills. That's the thing. None. I'll say this. I've been interviewing [00:35:00] people for a position here in the last. weeks. And if someone has a gap in the resume or if they just went and hustled and did this or that, I would not look down upon that. But I know there's this idea of like, well, what are you doing now?

Well, I pull custard at Culver's. I don't know if that's the verb. Pull custard. Alas, it wouldn't bother me. Dame, have you ever pulled a custard? Nope. Kristen. I am not. I don't know what's going to happen next. All right. So the answer to this is what's our answer to this? But the nameless. Entity

Damian Dunn: get familiar with your your spending.

This is the one thing that you absolutely can do to make sure that you are More stable and prepared in the future

Peter Dunn: best in crypto. Thanks, doug. No, that's not I'm sorry, we wish you I would [00:36:00] go to, I'd be a sandwich artist, 16 to

Damian Dunn: 20 an hour. I think I saw online for a sandwich artist.

Peter Dunn: That's like 60 bucks every three hours coming up after the break.

The biggest waste of money of the week and the news right here on the Pete the Planner show. I'm Pete the Planner.

Kristen Ahlenius: What is happening?

Peter Dunn: I don't know. I didn't, I had a weird week. I didn't sleep really well as you, as you may have gathered from our Wednesday standup meeting. I mean, I just, I looked like the, the meme of like.

Kermit as the evil emperor and in Star Wars, I had a hood up and then like, I've come back

Kristen Ahlenius: in person. That was a little bit more of a jarring. Oh, you

Peter Dunn: were there in

Kristen Ahlenius: person. I was. I was like, I, I didn't know how to ask if that's how you normally are at the office.

Peter Dunn: No, I, I, I woke up on Wednesday morning. I went to bed like 10 30.

I woke up at one. And that was it. I was up [00:37:00] and I was just like, yeah. So welcome to welcome to 40.

Damn, who's, who has the best emoji game in your home?

Oh. Hello? Me. Oh, me. Whoa, what? What happened there? I

Damian Dunn: don't know. Something maybe might have muted my audio. That was

Peter Dunn: weird. I thought I was You mean

Damian Dunn: you? Yeah. It was this, it was this

Peter Dunn: finger that had muted my audio. Kristen, you or your person who has the best emojis? Me. He's old. You know, our co worker, Mary, great emoji game.

Yes. Killer. Okay. I'm accused of having weird emojis by my children. So, what do they know? Apparently more than me. Let's start the show in three, two, one. This week's biggest waste of money of the week right here on the [00:38:00] Pete the Planner show is This little thing here, this is the Mont Grappa Anytime by Paolo Favaretto Perpetual Calendar Pen, designed to magnify writing moments.

The debut luxury silhouette from Progettista, pen collector Paolo Favaretto, augments the essential of the writing with Italian inventiveness. An integrated perpetual calendar mechanism Optimizes sleek, ultra efficient form while enhancing function, analog ingenuity to focus the mind and seize the day.

This is a pen for important work. So it is a pen, and in the cap of the pen, it's a perpetual calendar. So, A, [00:39:00] it's just stupid. Just like, who cares? Alright. What are we thinking folks? I,

Damian Dunn: I, I have to know more. Is it battery powered? Is it automatic? Is it a wide mechanism? How is this calendar run? Do you have to click it every day?

Peter Dunn: That's a good question. Part of me is just like, you're just click it seamlessly integrated three notch dials to just date day and month with haptics and mechanical locking. Adopted from our acclaimed ratchet piston fill mechanism. Dame. I think you do it yourself. The minute it is dumb.

Kristen Ahlenius: It's dumb either way, but then you have to look at your phone that has the date to check, to see if the date on your pen is up to

Peter Dunn: date prior to packing.

Each is adjusted to record its production date. Wait. So, so that means it's not. Actually automatic. Yeah, it's not because they take it back and [00:40:00] then you get because it arrives. Oh, this is the best. This is dumb. OK, Dame, how much is this piece of garbage? 650

Damian Dunn: bucks. Oh,

Kristen Ahlenius: oh that sounded like a ooh, you're too low.

Peter Dunn: It comes in rollerball and fountain pen. I, of course, am counting the fountain pen.

Damian Dunn: I'm gonna adjust, 250 bucks. Okay.

Kristen Ahlenius: It's okay. So then, in the middle, four hundred dollars.

Peter Dunn: Two thousand five hundred and ninety five pounds.

Kristen Ahlenius: Wait, I don't know what that means.

Peter Dunn: Dame, what's in the news this week?

Damian Dunn: Intel got an eight and a half billion dollar government grant to build chip factories.

Time out.

Peter Dunn: What? Granted.

Damian Dunn: Best chips, Pete Doritos, Doritos, a poker or the sitcom chips.

Peter Dunn: Oh, punch. And John brought big [00:41:00] chaps energy. They'd get on those motorbikes and sometimes they protect their loins with like a leather material. And other times they just rode more without caps. That's enough. Okay, I almost went in a direction I didn't want to go.

Damian Dunn: Doritos? Poker? Or the TV show Chips?

Peter Dunn: I hate that. Oh. I hate that. What about

Kristen Ahlenius: you? I don't even know what the last thing is that you're talking about. I feel very confused and you guys know I love Doritos and cottage cheese, what do you think I'm gonna pick?

Peter Dunn: How about you, Dave?

Damian Dunn: I'll go with TV show.

Okay. Okay. It's the largest grant awarded so far under the CHIPS Act to spur U. S. semiconductor production and Intel plans to use it to build and expand facilities in Arizona, Ohio, New Mexico, and Oregon. Intel could also be eligible for another 11 billion in loans under the same legislation, a signature piece of the President's economic agenda that Congress passed in [00:42:00] 2022.

Okay, I thought that was great too.

Peter Dunn: Can I? What's happening? What happened to the show?

Kristen Ahlenius: You're on Slack. Can I ask a question?

Peter Dunn: Sure, three of us. You guys can say things. Feels very

Kristen Ahlenius: loaded. Yeah, but Dame just read the segment and I don't know what chips are. What is that? I don't, what Oh my, that's an image.


Peter Dunn: Estrada.

Kristen Ahlenius: The Intel got grant money from the government.

Peter Dunn: That seems problematic.

Kristen Ahlenius: Like, my question is like, they needed it?

Damian Dunn: Well, they're doing it because there's a lot of concern about sourcing semiconductors from Asia, and they want this production to be done domestically, so that if something happens overseas, or we have a little dust up with somebody, we still have access to our own semiconductors.


Peter Dunn: why when you said timeout, I said granted. Did you not [00:43:00] catch that? I caught it. Okay, because that was pretty good. It was. What else is in the news? Yeah, let's

Damian Dunn: move on from that. That was a disaster. I'm sorry about that. I got just derailed when I started talking about chips.

All right, after finally recovering from social media barrage over VR goggle mockery, Apple is about to enter a much bigger battle. The Justice Department joined 15 states and Washington DC in suing the tech giant over allegedly monopolistic technology. Practices, citing everything from Apple's secretive tap to pay chip to its green text bubbles.

The 88 page suit basically is the greatest hits collection of every critics gripes with Apple and highlights include the app store, how Apple keeps its systems under lock and key, Apple pay and more. So what's next? It'll likely be years before we find out if Uncle Sam gets to take a bite out of Apple.

In the meantime, the lawsuit means the DOJ, which promised to crack down on corporate monopolies, has now completed its punch card of suing every big tech company, including [00:44:00] Amazon, Google, Meta, and now Apple, on antitrust

Peter Dunn: grounds. Chris, do you feel better about this republic we live in now, after this story?

Kristen Ahlenius: Yeah, I have a lot of peace. I can sleep at night.

Peter Dunn: Can I give an old news bit gripeyness that I've got here for us today? Of course. I am generally in support of various types of student loan forgiveness. I just am, I am, especially public service loan forgiveness. I really appreciate president Biden's focus on student loan forgiveness.

I find it incredibly sincere that he's continuously taking credit. For public service loan forgiveness under his administration. It makes absolutely no sense to anyone who actually understands how any of this works. It has nothing to do with him. This is, this is 10 years worth of payments people are making that just happened to be done.

While he is the president. Kristen, am I missing something here?

Kristen Ahlenius: No, I think that as someone who [00:45:00] is obsessed with student loan forgiveness programs, no one is more obsessed than me. It makes me very frustrated when there is what I feel is misinformation from either side of the political aisle about the programs in general, like It's, it's very, very, very difficult for me when I see like new stories or headlines in the space.

Peter Dunn: It makes you think, what if I think about all the things we don't actually understand, because we do understand student loans that people take credit for. And we're just like, Oh yeah, they did that. It's like, well, did they, because you didn't forget everybody's student loans. They've been working in public education for 120 months making payments.

And he just happened to have gotten elected. I have no problem with him in general, but that is just such an insincere claim. That all of these people are getting student loan forgiveness under him. It makes no sense.

Kristen Ahlenius: Yeah. To your point, it's, it's very interesting about like what things might I not understand that, and no one has the time, no one has the time to be an expert [00:46:00] in everything.

And so I, I'm sure I have tons of, of bad takes on similar, similar news headlines.

Peter Dunn: Dame, do you feel like I'm baiting you?

Damian Dunn: Maybe it has Pete. It has nothing to do with him and everything to do with him all at the same time because that's how politics

Peter Dunn: works. That's true. Damn hates everybody, but in a good way, but in a good way time for one last pithy news story for the.

Yeah, sure. Come

Damian Dunn: with me on a little trip. Pete. I want you to close your eyes. And envision what I'm describing. The lighting is warm and bright. The aisles are broad and shelves display 50 silk sleep masks and soft comforters begging to be touched. Where are you?

Peter Dunn: First class on a Delta flight.

Damian Dunn: Wrong. That's a deluxe Walmart, Pete.

That's the new version of Walmart coming to a town new year. They're building 800 locations in the U. S. to improve lighting, add mannequins, lower displays, and feature high end products. That's right. Racks of blazers and cargo utility pants. [00:47:00] Coming soon to a Walmart near

Peter Dunn: you. High end Walmarts. Yes. You did it.

We did it, Joe. We did it.

It's amazing. All right. Daddy's going to go make some Detroit pizza now. Kristen, good to be with you. Dame, sending you good vibes because good vibes is all that's in the budget. I'm Pete, the planner, Pete, the planner show. Hey, here's the good news. I'm on a webinar with one of our largest clients and it's about 12 minutes.

I hope my energy is in the right place.

Kristen Ahlenius: I'm sending Molly a message now.

Peter Dunn: Oh man, what a weird day.

Damian Dunn: Oh, that was beautiful. We did it Joe. Oh man.

Peter Dunn: That's great. All right. I gotta go. Here's the thing. The next time I. If I see you, I will have [00:48:00] consumed a great meal, along with Jake Gyllenhaal in the Roadhouse remake.

Send us a picture. Of Jake Gyllenhaal. Nah. Nah. You like a Jake Gyllenhaal Kristen? I'm a

Kristen Ahlenius: Swiftie.

Peter Dunn: What? What does that mean? I don't know. Oh, no. You're like, geez, toasters are my friends. I was like, what? I don't know. Culturally. How are

Kristen Ahlenius: they related? Culturally, just go talk to Ellie today. Just, it's,

Damian Dunn: she'll fix it.

Which song about, which song of hers is about him?

Kristen Ahlenius: All Too

Peter Dunn: Well. Oh. Okay. I didn't know. Do you like Jake Gyllenhaal?

Damian Dunn: I couldn't pick him out of a lineup. Honestly,

Peter Dunn: I

Kristen Ahlenius: didn't you play Spider Man once?

Damian Dunn: James Garfield

Kristen Ahlenius: There have been several that's why I'm not sure

Peter Dunn: no, whatever you guys I have to get on a webinar.

I know I'm salt lake city. So I'm good day. Hey everybody. Stay getting [00:49:00] money