Bob Show 11-22 hr 1

Bob McLain
Wednesday, November 22nd

Bank of Parents helping with kids buying houses more often now; Thanksgiving travel


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

How do you do good afternoon 306. And here we are Wednesday the 22 Thanksgiving. Eve yeah we'll talk a bit about that before the days out here Jim Bohannon in for Bob McClain. This week well the will be back in on Friday Thursday a day of special thanks could be program and we should keep it right here at 1063 W award the the states talk station in the mean time. You and I made chat to the Eagles advantage talk line it's 1803471063. 1803471063. In the comments of retirement planning text line is 71307. With some early issues of the day we'll talk about the Thanksgiving and a bit. But that there's something like him across that I just found really interest. I suppose this would be a reason for giving thanks if you are. A millennial with generous parents. It's. Young buyers are increasingly using special financing. To win in bidding wars for a limited supply of houses. They're getting their financing from Ted. The bank. Of mom and dad. About that. It's become a quite dread apparently bloody heels that's the generation of young homebuyers about the ages eighteen to 35. Are facing more competition and costs for Holmes. There's settle of course for all that student debt more than previous generations and frankly their parents seem to be more willing to lend the money. Based on reports from agents. The word is now. From. The year re Max. Office and so these two Michigan men just to put together some thoughts on this. And they say that the nearly 10% of the home sales they record. Use some kind of family finances. Or gifts outright gifts. That could growth of the housing market stay hot and that percentage is up for more proud of them what. You might have expected. Some thirty years ago for example a much less them. National poll by GFK custom research North America this is two years ago on 17% of parents of millennial. Expect to help them. By a hole with a the next five years. Roughly one out of every year's six an increase of 31%. From a 2010. Of parents willing to half say they will contribute to a down payment 20% of parents. Will cosigned. On a loan that's putting your blood on the line in the event of default. I'm just wondering how you feel about that with you have to be such a parent. Or potential parent to lower probably below the Eagles thinking about getting a home the bank of mum and dad are open for business. You out of three calendar. Toaster with them and do accounts. I'm just wondering how you feel about that interest that. Half would contribute to a down payment for their kids to buy all 20%. Would co side. Are alone. That's putting you were resources on the line and the people. Most intriguing. 70% of parents oblivion is expect to help them via hole with a the next five years. That's up 31% distance from the point fifteen members of the 31% from him so. A lot of factors driving this again parents apparently more willing to lend money. Low heels face more competition for limited amount of housing. And of course of the costs of housing going up and of course they continue to be saddled with all that does tons of of college debt. Which in many cases is not a terribly good deal but it. 310 now on this Wednesday afternoon on ministers how you feel about that there we have severe course at the Eagles advantage talk line 10347163. 1803471063. In the comments of retirement planning text line is 71307. This is all very good and well. But. You know. To get there have to be lines drawn at some point. I would certainly try to do this in fact. I have as a matter of them it's but. The down payment strikes me is considerably more attractive. Then the co signing alone but you provide the down payment. You haven't put your bottom line for anything except. Of course the money here's the money spend it wisely. Co signing on alone. You're acting almost like a guarantor of that hello. And in the bank goes after your kid and says that's consistent vote. Nice stereo set and that traffic cone that he liberated from some roadways somewhere beat up sofa. But your assets. A bit more I'm guessing right. So that that's a good deal of trust that you would put him the aforementioned Bolivia so what do you feel about this is that something that you would do. How is it something you would do under certain circumstances and what. What would be those circumstances and over in the the Thanksgiving season entering into of course the Christmas giving season. How much fuel and give mom and dad. And former bank. And let's say that Doug you have several kids and kids being what they are which is to say individuals. Some of them. Are little more credit worthy that others. And how do you deal that if you've got. Let's say via. Joni. Who is very responsible. Person. And you would mind helping her house jolly. Not so much. But. You of course are not like an ordinary bank in the your making decisions based on purely financial. Factors you're making this decision based on the fact that your your loved children. And of course you love them equally. Budget initiative. So can you. Can you help Jodi without helping out Johnny. And conversely if you're afraid about jolly dare you help out Joni. That's another problem prepares with more than one kid in this age group what you do. Just curious that one of the reports of and 106310347163. Eagles advantage talk. And he Cummins in retirement planning text line 71307. 71307. Here's the techsters says idea might. Help about idol I told my daughter I would help car when you graduate from college. She's seen the 80000 dollars over four years scholarships and other as a factor. But that's a serious factor right there that the that it reports that it you've got a kid who busted hope. To get scholarships. And his or TC drew Bob Marley it could be argued. That in a way. You almost all of them I mean beyond love of family and all that did just purely financial basis. That's early good point that the U export furthermore someone who is that diligent. In terms of scholarship is probably that good in terms of other aspects of characters so that would tend to be the kind of person. That you would you would mile course that's another factor. Which bags know full well real bags of the bag moment as banks know full well. The the more you need below the less likely are to give you one. If you if you go to donated all your financially. Well off that you don't need the loan would be handy. Sure you have. But if you really desperately need the loan. Maybe not. Despite other evidence report we will. But that it's interesting trip noted that more more parents' ability are stepping forward. With the bank of mom and dad in terms of a home purchase. And that's. That's the major purchase these extra noted. Open car and of course that can be a major expense these days house a lot more Major. League so. So just a curious how you feel about this on this. Thanksgiving eve Wednesday 22 of November Jambo candidate for Bobby back 63 WO lord Levy it's talk station. And that we will talks more about this. And other aspects of the news of the day when we come back your adjustable enough time 350. You budget pinch hitting right here. Bubba pitching. All right three funny on this Wednesday afternoon in Deborah and all of their ducks were lower Turkey's against in this particular case. We'll talk some about the the forthcoming holiday of which there are few things to take note here. But I just couldn't help this is one story of bank of marlin dead more and more parents ability. Are stepping forward and they're going to help out the kids. Specifically. According to one survey. This was a poll taken in the tweeted team. Half of parents that they would contribute to a down payment. Other kids to get Holman 20% would coastline lol that's that's commitment last. We have of course one textured. Who said that. I'd might help out to the doctors that's that's says her daughter. Helped put 80000 dollar scholarship so here's another text at the comments that retirement planning text line. Jim I would not feel like it's I did it myself. They're going to do it themselves and what about the time that they take the first equity credit line out on the house. Interesting. Yeah it's. About that that that's. And even thought of all of the ramifications. For the good point. Old K via an interest and thought. Just curious how you would deal with this. And good as those of the new kids are more and more there there hanging around the house anyway they've got their degree but its and trust him pottery and Soviets to be much demand for agree and that's it's it's into the basement there because Bob. Taken over there room in the sewing room. And so there at least it. And that. Of course but our our multi lingual enough but that college degree that they could say. In five languages would you like Fries with that but again. May be worth the cost of that college degree in some cases all right quality of the 34716310347163. The Eagles advantage talk line and become literate text line 71307. More more pairs going to be facing that your decisions of this nature. I would toss that out there today for. So much. Consideration. By the votes assembled afternoon. But it does add a story that that just keeps coming up this type of story just keeps. Coming up. An atheist group is suing to stop an annual blessing of the animals at New Jersey shoulders and teeter borrowed mergers. American atheist corporate yes there in corporate. Claims and federal lawsuit that the Bergen county New Jersey animal shelters blessing of the animals by Roman Catholic priest. Violates the first important amendments. Children and county department of health services receives money from state so it's there quote it's a public facility. And they're all hot and bothered about. And then. You've got a of this of freedom from religion group that is going after. I schools portable Mike Huckabee warpath about this. Reports to stop the players and coaches from saying prayers at football games. Idea. Was back on. A third assistant coach for the Norman Oklahoma high school football team with CNET rating. About a dozen of his student athletes before the game sounds like flawed and serious indeed that prey. But now he is being investigated. You imagine all the things you can be investigated for. Coach. Champions league and you were rated. At about a dozen of your students. And now this is the group freedom from religious foundation freedom of religion. Art. And a couple of goes at it stand for something else. But of course Leah. They've made their visit to ground complaining about this sort of thing if you fine Americans somewhere in gauging religious practice cool. Interesting that they did say this complaint was sparked by concerned parents. Find it extremely interesting. Be concerned parents are others Norman Oklahoma. Kid comes home and the latest in what happened today football all world coach breed. He when he Euro. I guess I just don't hang around the right class of concerned parents. And in any event. So the the school director to Norman Oklahoma being. As to remedy this serious violation of the First Amendment on. This group. Freedom from religion based in Wisconsin. And that goes to promote the constitutional principle of separation of church and state charged that the rights campaign to raid the public to deal. And and religion at taxpayers' expense. And I liked this quote from Mike Huckabee in response. You know when it comes to religion I agree called the First Amendment and something called the free exercise thereof. But the freedom from religion foundation will have none of it even posting a 152 video of the prayer on FaceBook. And Huckabee as it occurs to me that if every FaceBook written that their FaceBook for a truly desire to be free from religion. Want to exercise caution. In following this group and lives in the video posted over expression of religious they've clearly way. Might traumatize them so much that they might be too weak hold protests. I. I. Any religious hopefully. Although he has had two sides others piled courtrooms car. In in the event. And Oklahoma secondary school athletic association policy. Rules. States that no public address system can be used pregame prayer but schools bay. And quote permit a moment of silence prior to the store of all elected from that person that you had to reflect. Meditate pray or engage in the other side activity. About those two. It consisted principally because of the fact that we record these clubs. Are back. A couple of cases. But he. Authorized praying. That take place and schools and blow the coaches. Couldn't could they just stick to molesting students. But can witness pray. We have to have a sense of perspective about. It's a year ago it to the accountants retirement planning to act like seven threes he says Jim. What is gone and they obviously are weird crazy people were wanting to ban blessing of the animals displayed stupid that's why I. Try to stay away from it is collide like him McQuistan. By the way and I hope you're happy Thanksgiving godless public view as well. What's gotten into. Is what's gotten into a lot of the weird the radical and off the wall on the left wing of things god and it was such power. Eight years of Barack Obama used it. And all of a sudden now they have the beginning. Of president trump. And like so many other there that. That the they're speechless. There. There without words to express their feelings probably you've found enough to this case to Greensboro the animals children. Go to work at least start cause trouble bullets got into the business of them. That they feel that they were on their way to race in traditional values of this country in the along came President Obama trumpeted just puts him in the temper tantrum. That's what it. In the past that'll. Be bomber. Of the pre Thanksgiving but hey. What are you gonna do it to talk shows to vote for Bobby Mack and time now at 163 WOR DUS three point line. Well there no doubt its territory 2 minutes before 4 o'clock London Wednesday the 22 of November. And we've been talking about a couple of things are today including the bank of mom and dad and we had gone over in the fountain and a hello gone. Thank you probably wouldn't go ahead. Thank you Rick. It is going to him a bit yes or go right ahead. I think let out. Apparently have to be in India are two. You know mortgage with with their child. It appeared. A kid shouldn't get a mortgage limit like all up up or mortgage. And to do otherwise you're not helping the kids. They did rent. Until it was time mistake that the money here and established the credit necessary. To we get a mortgage. You know here you're getting involved in all I'm a rare. It's even gonna pick your own credit rating. Because the amount of debt. There for work. And now I just thank you would be foolish I mean not trust my kids totally. And there wasn't intentionally. I don't mean a problem that is just horrible idea in my in my opinion and it's not doing them any good either they need to. We need to do it the traditional way you do to know more about making the white. By the Eumig very good points there an idea I. Concur with you I don't personally know where to on you sound knowledgeable on the subject perhaps you can tell and he just how much apparent. Puts their own finances their own. Property on the line when they coastline which 20% of parents in this survey. Said they'd be willing to do. I could see maybe the money for the down payment noble your arguments are very persuasive in that regard. But the co signing that that seems like kind of red flag territory to be done. Yeah we did cook and when my daughter graduated college we go on and on laying on my Carlo. And I was hesitant even about that. MI daughter Miley did get tight but she never dissipate unfortunately put. It is just if a horrible idea and you're not you're not assisting the child in the nineties and right buttons. But do it now I think that opened lower renting. A lot of people live in what a lot of money warning that their programming can be. The very get out and have a very Smart option so. Did I just I didn't really cool or the whole way around. I thought that round of the day. A lot of that you have put forward some some very good books and I appreciate you calling him. Two of those at the exit of parents to keep in mind and these kids as well. Don makes a really serious point about people. Body before they qualify. Of their reasons why you don't wanna do that. And again. This teaches a very profound lesson that is deferred gratification. Do I want to blow money on a vacation now or do I wanna make enough that I can put together a down payment. That's one of life's great lessons so I can I can easily see the point and and also that's true about renting. It's not as though this is the the mark of containers and rending news is a perfectly fine an option if you don't in fact qualified and let's not forget another team that is. Part of what does Don had to say and that is. That there's no question about the effect of a major obligation is something that you think twice about it and you don't take it all on endless. You have a reasonable expectation you're going to be able to fulfill it. A defaulting on anything is never a really great ideas so thanks for that to call up the Eagles advantage talk line 1803471063. Over here at the comments that retirement planning text line 71307. Talk about a number of things here. One texture as. Why does atheists have to equal left wing it doesn't have to it has automatic. But it works out that way. If you check the atheists in this country. You'll find. I don't have any doubts about I have not numbers to back it up but I have no doubt that 90% of the vote. Either the Democratic Party or one of the yeah. The left wing alternatives to that the Socialist Party years socialist vegetarians. Were the various options are. It's simply a fact that in our current division of the thinking and a philosophy and culture in this country that the yeah. These people out there to boost him to look to pursue a faith. Tender and other conservative values as well those are best expressed in the Republican Party is the way it is so no it's not a automatic if you equals. Left wing but it's pretty close. Pretty close the other texture hero was an animal shelter. Turned in by a concerned. Bidders. Female mother dog FF FF a very possibly very possibly wouldn't it wouldn't surprise me one bit in that regard anyway. Glad to to a two did today. And look he had some of the Thanksgiving stuff that we can look at today they've come up by the way with the annual love Christmas. Price index you know the cost of the items in the twelve days of Christmas. Gold rings were up 10% this year by the way. Of all the yeah the labor you know the ladies. Dancing in the maids a milking all that the only ones who got a pay raise over the past year lords a leaping. Are up 2%. Over the past year. Swans remained the biggest factor in the of the bird perspective too it was the cupboard perspective. Partridge in the pear trees of four point 7%. For this past year and I knew you would be. Thrilled to be aware of all of that and also something else of that that we can talk about as a lot of tea party of the this vote matters the best and worst times to drive. To Thanksgiving meals a lot of people will be out on the road. And to take a look at what the navigation and it has to say about this on regarding. Thanksgiving traffic. There's still some things. Words to the wise if you will to keep in mind as Jim Bohannon for Bob Klain off. Giving eve we hope that things are are going swimmingly. And you're all set for a big Thanksgiving meal we you will be dining conference call. And bring in addition. And my wife has put together actually use a green beans and and tomatoes quite good you can drive. It way more to come at 12063 W awarding the absence talk station and lo and behold it's reported five. Areas good to have you this out there it's eleven minutes now before the hour for Clark. On the day before Thanksgiving to pretty busy day up there for a lot of folks of course it's when you. Make sure you go all of your supplies. Lined up. And careful timing goes and I'm not. And in the kitchen but Ike and values that I've watched my wife is planning Kim. Two that the deal and this year Auburn Hills and Turkey were going house to provide side dish which is better I think regard. Kimbo for Bobby back today and Friday tomorrow special program on Thanksgiving so still keep 1063 WORD. The upstate talk station. Two in the good stuff. The Eagles advantage talk line 103471063103471063. Comments and retirement planning text like. 7130771. 307. And if we go over to that they're tech slide by and lines that is of this. I am a previous conservative long time if you're street new conserve well is possible. Would be so it's philosophically compatible. But be that a male actively known him quite that is correct in that it's not typical. For the most part. You find these tend to be along the lines of the Democratic Party party. But these extra votes not universal case. Here is another text Jim these separation from religion. Jack gases need to realize the purpose of the separation of church and lose to protect the people's right to worship as they choose on an atheist government. Of that certainly was lead the purpose of founders without question. It's always an interesting exercise to delve in to what Paul. The founders woods today. If they could be transported. By time machine. A quarter of millennium ahead in time to today. OK this is what you brought the good news is we're still here. And where the most powerful country on the earth weeks of the basic outline of government that you created. 325 million of us fifty states. You you might not recognize what you what you created. These states intrusion to day to day lives is a great deal more than any of you founding fathers had ever envisioned. But here we ERO. Warts at all and a that would be of most interest in Germany. You would buy most of the founding fathers would be. Still look mixed emotions there mixed emotions the other still here boy did they expert was last fifty years. And almost didn't last much beyond. 87 civil war but. Beyond that they would be delighted that the experiment works and at least of the basic form of government they put together. That we still have a constitution it would with great interest world. 27 amendments we've adopted. Might improve Osama. The wanted to abolish slavery that would be many of the founders who would vote on that others probably not does so much. Would be interest. If we just had a time to pay him now I so that I would tell you a bit about the notion of driving. To Thanksgiving. Day. And they heavy traffic usually begins by the way about 1 PM on the on Tuesday two days before Thanksgiving so. From beneath the Thanksgiving trip. I got underway yesterday. And heaviest traffic. The and usually it's around the Tuesday. Before Thanksgiving between 4:8 PM that afternoon and evening and stays bad then throughout the Wednesday before Thanksgiving. From 11 AM into the evening and the best least stressful time to travel according to the WE CE navigation. Is early on Thanksgiving. Morning. If you can put off. Don't travel until Thanksgiving morning. That's what they say it's the best least stressful time travel the traffic will start the giving up between noon and 4 PM on Thanksgiving Thursday. An estimated 46 million people drive fifty miles or more sites. So for what it's worth we passed on to you that a lot of heavy traffic is way many of you must may be in fact on your way. To grab most house ego. It's a good Thanksgiving for. Duke which got to be careful you heard the moment and board reporting that. Police are out there and in particular for textures. Is that with these people who must text will do everything to these people make love while texting. Me. I just hope that they. Thanks a low point besides them all I would have to say. A deal about did just that subject on me and injured but in Germany. There is a city at the name city city where they have begun to put walk and don't walk signs. In the sidewalk. Down at your feet in the sideline because so many people. That's the only place their eyes are looking if you put the signs overhead walk don't walk they don't see it their their texting. And their walking right in the traffic that you put it down at their feet. That the lights perhaps blinking or whatever they do might attract your attention away from your device large enough to keep your neck in one piece. So that's annually. Open it's a wonderful crew travel of the you have to be a great trip and how far you go that's another question and always always it's me I'm. I used to drive. A lot. In fact. Four times a year I would drive close to 600 miles. Just two to visit the serie. From Washington DC. That we use we had to hold down here that was just visitation and vacation time. And we would that's the height that's eight hours. For peace and the driving so wondering how far anybody's driving out there. And and what timetable you've set up. Another thing that that. You've got to keep in mind you've got to keep them. Don't drive for ever. Ever driven so long that you just about to go to sleep. I. I have I have. Real. It's a stupid thing to do. I'm thankful. And other things this Thanksgiving that I am still here at some of the stupid things I did and I guarantee that when mr. getting. Ole. Sleepy. I I will will take a few additional steps in Miami crackle windows with just a little bit sleepy or stoppage and a cup of coffee. But it if that isn't working I'm not gonna push out pollutants on the road someplace safe and there are arrest it's like an interest in Atlanta snap a little bit like even haven't alarm clock in my car. But it enables me to determine how long do so we'll talk some about that as well coming up and other issues of the day the idiots on the march there. And the bank of mama day and that's fascinating subject. All part of Thanksgiving eve of the Bob collegial 163 WORD the upstate talk station Jim Bohannon in for Bob today and again on Friday. Foreman is now before 4 o'clock.