Once again we at Money Tree Investing Podcast are pulling back the curtain on the wizard and spilling the beans on Wall Street Secrets. This week we dispel the notion that supply and demand for house prices is why house prices are still high even though people cannot afford them. It's simply not true.
Think about it for a moment. There are 100 widgets in supply. There are 100 people who want a widget. There should be a price that could be agreed upon to purchase those widgets. However what if I only have $100 and the widget costs $1,000. I guess I'm not buying that widget. I still want the widget, but I cannot buy it unless the prices is $100 or lower. That is effectively what is going on in the housing market.
Sorry Wall Street. Try your tricks on someone else.
Join us this week as we discuss the dynamics of housing, why its still expensive, even though people cannot afford to buy a home, what's up with the unemployment rate, and the big question... where is the recession?
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
Kirk's Online Presence:
Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners