00:00 Speaker A
Let’s say Bruce, uh the Trump administration, Congress, state, local, they figure out a range of policies, a policy mix, so that they do make it easier for more Americans to buy a home.
00:15 Speaker A
How do you think through that? Because you’re looking through it through a different prism. I mean, what would that mean, Bruce, for your company and your industry, the the build to rent industry?
00:30 Bruce
Right now, Donald Trump needs to do something about the confiscatory interest rates that banks are charging people on their credit cards. That is causing housing affordability to be hampered.
00:44 Bruce
Let’s get these banks to stop charging 24% interest. Let’s get these mortgage companies to come down a point or two and then people can afford to buy houses. On build to rent, our industry is 97% least. We’re almost at full capacity, but Donald Trump and cities and states around the country want to enact laws that make it tougher on us to deliver houses.
01:03 Bruce
When in fact, by us delivering brand new houses, it creates more stock, it creates more houses in each one of those cities that we serve.
01:09 Speaker A
I just put a number on the kind of growth your industry has seen, Bruce. a per reports I’m reading, since 2012, more than 321,000 build to rent homes have gone up in the US.
01:23 Speaker A
More than 3/4 of that new supply was built in just the past five years. You know, any update on how business is going for you, Bruce, since the last time we spoke?
01:33 Bruce
Sure, it slowed down a little bit. You know, we we have interest rates that we have uh borrowed on that are challenging too, our high interest rates, material labor, but we have literally a lack of supply that we can offer the general public.
01:46 Bruce
We cannot build them fast enough, we cannot buy them fast enough. The public is clamoring for these build to rent homes and we just can’t keep them uh we just can’t keep them built quick enough. We’re 97% least.