Episode #37 of “Unnamed Show” | In this episode Brendan and Jack discuss Celebrating St. Patrick’s Day in Las Vegas, Thousands arrive for March Madness, Pearl Jam making rare Las Vegas concert appearance, Life is Beautiful 2022 lineup, Smith Center Celebrates 10 years, Fed raises key interest rate to fight inflation, Lottery system likely for Clark County’s short-term rentals, Vegas Knight Hawks Inaugural Season, Craggy Range Sports Bar and Grill, Tilman Fertitta to Build Casino Resort on Las Vegas Strip, and Broken Yolk Cafe.
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(02:19): Las Vegas weather for Thursday, March 17, 2022 | Las Vegas Review-Journal
(03:00): Celebrate St. Patrick’s Day at these 30 restaurants | Las Vegas Review-Journal
(04:38): How much are you spending for St. Patrick’s Day this year? | Las Vegas Review-Journal
(05:28) The Madness is here!- ESPN
(09:16): Thousands arrive in Las Vegas for March Madness fun | Las Vegas Review-Journal
(12:51): Vegas Knight Hawks ink partnership deal with M Resort | Las Vegas Review-Journal
(12:51): About The DLC - The Dollar Loan Center
(14:11): Craggy Range Sports Bar and Grill
(15:30): Pearl Jam making rare Las Vegas concert appearance | Las Vegas Review-Journal
(16:24): Life is Beautiful 2022 lineup includes Jack Harlow, Arctic Monkeys | Las Vegas Review-Journal
(17:33): Smith Center Celebrates 10 years of a las Vegas cultural Institution
(19:19): Fed raises key interest rate to fight inflation | Las Vegas Review-Journal
(24:00): gas prices hit $5/gallon | Las Vegas Review-Journal
(24:54): Daylight saving time could be permanent with Sunshine Protection Act | Las Vegas Review-Journal
(27:12): Rumor: Tilman Fertitta to Build Casino Resort on Las Vegas Strip
(28:50): Lottery system likely for Clark County’s short-term rentals | Las Vegas Review-Journal
(31:49): Monday Market Update
BKG Breakfast Spot of the week
(32:47): Broken Yolk Cafe
(33:56): The BKG is excited to announce that we will be adding more agents to the team
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This is transcribed (accuracy not guaranteed)
BrendanKing(00:35):Hey, what's going on? It'sBrendan King from The Brendan King Group @ REAL.
JackPalermo(00:38):Jack Palermo from The BrendanKing Group @ REAL.
BrendanKing(00:40):And this is Episode number 37 ofThe Unnamed Show.
JackPalermo(00:43):The Unnamed Show.
BrendanKing(00:46):Happy St. Patrick's Day.
JackPalermo(00:48):Happy St. Patrick's Day Brendan.
BrendanKing(00:49):I'm not going to try the accent.
JackPalermo(00:51):What I think we should do. Weneed to go back to that previous slide of The Unnamed Show.
David (00:55):Previous one.
David (00:56):This one?
JackPalermo(00:56):Yes. Check out that Leprechaun.
BrendanKing(00:58):Oh man. The crazy thing is, I'mactually an Irish citizen. So it totally fits. I've never lived there a day inmy life, but I do have a passport.
JackPalermo(01:06):You do look like a Leprechaun.Yes. Yes. You can start today. Beautiful stuff.
BrendanKing(01:12):I can do that, because I'mIrish.
JackPalermo(01:13):You can. You're an Irishcitizen. Yes you can.
BrendanKing(01:16):Yes. It is St. Patrick's Day andwe are staying far away from any bar in town.
JackPalermo(01:22):For next hour.
BrendanKing(01:23):There's way too many people inthe bar on St. Patrick's Day. But it's also March Madness.
JackPalermo(01:28):Yes. It's crazy everywhere.
BrendanKing(01:30):It's like a perfectconglomeration of two great things.
BrendanKing(01:35):And don't forget, if you want,text VIP to 702-553-1955. Text VIP to 702-553-1955. And we'll tell you thoseplaces you should go to.
JackPalermo(01:47):Good idea. But also, don'tforget to follow us on Instagram at our new Instagram page @BRENDANKINGGROUP.Instagram at @BRENDANKINGGROUP.
BrendanKing(01:51):@BRENDANKINGGROUP, check us outon Instagram for sure. We're mixing it up all the time. And we are in the midstof starting a new podcast, actually with the Unnamed Show as well. Which we'llannounce this week or I should say next week.
BrendanKing(02:08):We will announce that. But we'regoing to actually have an audio version of this show and many other things thatwe're doing. So definitely look out for that. That's something you shoulddefinitely check out.
JackPalermo(02:18):Absolutely. It'll be fun.
BrendanKing(02:19):And other than that, the weatheris insane.
JackPalermo(02:21):It's good. It's beautiful.
BrendanKing(02:24):This is that bridge time ofyear. That it's honestly perfect spring weather. So decent, but cloudy SaintPatty's Day forecast for Las Vegas. Calmer winds, but forecast is looking good.
JackPalermo(02:36):In the seventies.
BrendanKing(02:37):High as 70, with winds only 7 to11 miles an hour.
JackPalermo(02:37):I'll take it.
BrendanKing(02:41):This time of year, usually weget 30 to 50 mile an hour winds.
David (02:44):Well yesterday it was almost 45.
JackPalermo(02:44):Yeah. Yesterday was crazy.
BrendanKing(02:48):And that was a surprise to me. Iwas sitting at home and I just heard... And I was actually in the office and weget the ceiling start shaking a little bit. But, perfect weather.
JackPalermo(02:58):To sit outside?
David (02:59):No it's gorgeous.
BrendanKing(03:00):So celebrate St. Patty's Day.There are 30 restaurants you can definitely check out. Obviously by the timethis post, you may be already somewhere. But one of our favorites is McMullin'sIrish Pub. That's a huge [suck solay 00:03:14] hangout. Honestly.
JackPalermo(03:15):Is it really?
BrendanKing(03:15):It is actually. And all thebooths in there, everything was actually imported from Ireland.
BrendanKing(03:23):So they imported it from an oldbar in Ireland. I'm not sure exactly what town, but there's all little placardsin there of where it came from. There's little enclosed booths. So if you havefour to six people, you guys can have your own little room.
JackPalermo(03:36):That's cool. Y'all private?
BrendanKing(03:36):Yeah. It's kind of cool.
David (03:37):They have a bunch of differentrooms too.
BrendanKing(03:38):Yeah. There's a whole bunch. Andit's a cool place. Honestly. Open 24 hours because they do have gambling. Butit's only in the front area. So if you're not, I'm not really much of a machineguy at the bar at all.
BrendanKing(03:54):You can go to the back side of thebar and it's just a normal Irish pub. The front area in order for them to havethat ability to be open 24 hours, they had to have the gambling in the front. Butawesome. Awesome place. Traditional Irish food, which it's Irish food, there'snot a lot to give. It's not like Italian where you've got an entire menu.
JackPalermo(04:13):Irish, they boil everything.
BrendanKing(04:14):It's like, "This, this andthat." But McMullin's is the place for sure, on St. Patty's day and anyday that you're looking for an Irish pub. There's not a lot in town. If you'refrom the East Coast or Chicago and you're looking for an Irish pub-
JackPalermo(04:28):McMullin's is the place.
BrendanKing(04:28):It is, for sure.
JackPalermo(04:30):Here's a crazy stat that I saw.Guess how much Las Vegans, Las Vegas, people spend-
BrendanKing(04:37):I like Las Vegans.
JackPalermo(04:38):Las Vegans? All right. LasVegans. How much Las Vegas spend on St. Patrick's Day with food drinks,entertainment, retail?
BrendanKing(04:46):Let me guess. Can I take a randomguess?
JackPalermo(04:49):56.5 million dollars, which isup 15.5% from last year.
BrendanKing(04:55):That is insane.
BrendanKing(04:57):So 56.5 million dollars?
JackPalermo(04:59):56.5 million dollars, spent onSt. Patrick's Day.
BrendanKing(05:01):And that's on everythingentertainment-
JackPalermo(05:03):Food, drinks, entertainment,retail.
BrendanKing(05:06):On one day.
BrendanKing(05:08):There you go.
BrendanKing(05:10):And this is the highest in awhile, right?
BrendanKing(05:13):They said there was a hugeincrease from 2021?
JackPalermo(05:16):15.5% From 2021.
JackPalermo(05:18):Yeah. It's crazy.
BrendanKing(05:19):Well, I was off by a solid 46some odd million dollars.
David (05:24):Things are open now.
JackPalermo(05:24):Things are open now. Things areopen. Definitely.
BrendanKing(05:25):Yeah. And things are open forsure. And it's St Patty's day. You don't need to look an elf.
JackPalermo(05:28):But guess what else it is? It'sMarch Madness time.
BrendanKing(05:34):It is Jack madness time.
JackPalermo(05:37):It is Jack madness time. I lookforward to this time of year, every year. It is insane. I love it. I love whatwatching games from morning till night. But I do have a job so I can't.
BrendanKing(05:45):My college team was on lastnight. I get a text from Jack and he's like, "Are you watching Rutgers?And my mother-in-law. I'm getting two texts from you. And my mother-in-law atthe exact same time, saying the exact same thing. Oh, my-
JackPalermo(05:58):This game is crazy. I bet onRutgers. Darn it.
BrendanKing(06:02):Yeah. And you bet on Rutgers. Sothen both of you were like, "Our charts are all screwed up. Thanks toyou."
JackPalermo(06:06):Yep. It's all your fault becauseyou went there.
BrendanKing(06:08):It's all my fault.
JackPalermo(06:09):But it is insane. So I readsomewhere that for March Madness this year, yesterday was the busiest airportday in three years, which is absolutely crazy.
BrendanKing(06:21):That's crazy. Look at this here,Downtown at Stadium Swim-
BrendanKing(06:26):At Circa, that just packed.Completely packed. That place is amazing because you have a giant screen andyou can have even your own space with whatever you want to watch. But you canwatch six different games all at the same time in Stadium Swim and be in thepool.
JackPalermo(06:42):Insane. You are right.
BrendanKing(06:42):What else are you, you can't bein Chicago March, at the pool watching.
JackPalermo(06:44):No you can't. No, not at all.You can't gamble really there either. But they say 3.1 billion dollars will bewaged on this basketball tournament.
BrendanKing(06:53):What? So 50 whatever some oddmillion spent.
JackPalermo(06:57):64 million dollars.
BrendanKing(06:57):And then billions wagered.
BrendanKing(07:00):This day and week in general isinsane.
BrendanKing(07:04):Look at this chart. So how manyteams make the tournament?
JackPalermo(07:06):Well, 68. But it's 64 as oftoday. So they always have the First Four, which is four extra games to getfour teams in there.
BrendanKing(07:15):Which is where Rutgers gotkicked out.
JackPalermo(07:17):Right. So 64 started today.Started this morning. I'm doing pretty good, only lost one game.
BrendanKing(07:22):All right. Rutgers?
JackPalermo(07:23):No, the Jackrabbits from SouthDakota state this morning, they lost.
BrendanKing(07:27):God! The thing about college isto narrow down to 64 from whatever ridiculous number of teams, is still alreadya massive accomplishment just to make the actual tournament.
JackPalermo(07:40):Millions of teams. Yeah.
BrendanKing(07:41):Like girls from UNLV. I thinkthey had their send off today. But I know this is your time of year.
JackPalermo(07:48):I love it.
BrendanKing(07:49):Who did you pick? Can you tellus?
JackPalermo(07:51):So I did three separatebrackets. I have one with Gonzaga and two with Arizona. The whole thing.
BrendanKing(07:58):Gonzaga, that's the ultimateNCAA school for basketball.
JackPalermo(08:02):They've never won. That's crazy.They always get there.
BrendanKing(08:04):I know. That's crazy. I've heardthe name Gonzaga only from NCAA tournaments every year.
JackPalermo(08:07):Yeah. They get there every year.
BrendanKing(08:08):Where else do you hear the namesGonzaga? Any other sport? No. Anything else? I didn't even know the schoolexisted, I figured just basketball players.
BrendanKing(08:17):There's nobody else.
BrendanKing(08:18):It's just school with-
JackPalermo (08:20):Oh yeah. They have 12 studentsand they all play basketball.
BrendanKing(08:25):Gonzaga. No. So definitely tonsof fun. I know you're going to see the games today. Aren't you?
JackPalermo(08:32):Yes, I am. Yes. I will startwatching the games in about an hour. Hopefully.
BrendanKing(08:35):Nice, nice, nice. So, let usknow. Message us your pick of the tournament. We'd love to know what you guysare picking for your bracket. I didn't do a bracket, but I have in the past. Itis fun.
JackPalermo(08:48):I do have one with Wisconsinthough.
BrendanKing(08:51):My mother-in-law would love you.
JackPalermo(08:52):I do. I do have one withWisconsin.
BrendanKing(08:53):I would lose my position as herson-in-law if she knew that you picked Wisconsin.
JackPalermo(08:57):Wisconsin, I got them. TheBadgers, in one of my brackets.
BrendanKing(09:01):Honestly, that stadium that townfor Wisconsin basketball and football, will shut down.
JackPalermo(09:07):Yeah. For sports at all. It'scrazy.
BrendanKing(09:07):The entire town of Madison shutsdown for Wisconsin basketball.
JackPalermo(09:11):It's amazing. It's amazing.
BrendanKing(09:12):Yeah. But go Badgers, becauseRutgers is out.
BrendanKing(09:16):So next up. So obviouslythousands arrive. What's going on with this?
JackPalermo(09:22):Well, so rumor has it thatthere's going to be a Formula 1 race. We've talked about it before, but thisgentleman Vital Vegas, he is on top.
BrendanKing(09:32):He knows his stuff.
JackPalermo(09:33):He knows his stuff. So,supposedly they're waiting till March 30th to announce this, but they're goingto do a Formula 1 race. And it's going to run from Tropicana to the Wynn,around the Sphere, down Paradise and back.
BrendanKing(09:46):Oh man. Nice.
JackPalermo(09:47):So we even have the track andeverything.
BrendanKing(09:48):Yeah. So Formula 1 Racing. Ifanybody doesn't know what Formula 1 Racing is, it's you got to watch theNetflix Series.
JackPalermo(09:57):Yeah, the documentary.
BrendanKing(09:58):That thing is amazing. Have youwatched that David?
David (09:58):No, no.
BrendanKing(10:00):It's so good.
David (10:01):What's it called? Do you know?
BrendanKing(10:01):I'll figure it out.
JackPalermo(10:01):Something that has something todo with Formula 1.
BrendanKing(10:04):Something to do with Formula 1.But if you're not a race fan, it will make you a race fan.
JackPalermo(10:07):Fan, but it's open wheel racing.Almost like IndyCars, but better. They're built better. So it's not like yournormal NASCAR that's here.
BrendanKing(10:15):It is insane amounts of moneyspent on these cars and these teams. And always, if you look at the top 10highest paid athletes, there is always a Formula 1 racer on there.
JackPalermo(10:24):Yes. Louis Hamilton usually.
BrendanKing(10:25):Yeah. That's true. So it's aninsane sport.
David (10:30):That's around the sphere.
JackPalermo(10:32):It's going to be so cool. It'sgoing to be around the strip. It's going to be awesome.
BrendanKing(10:34):The coolest thing about, aboutFormula 1 to me, compared to NASCAR and not hating on NASCAR, but Formula 1 ison the street. You actually ride on the roads around whatever the town is.
JackPalermo(10:46):A lot of different turns.
BrendanKing(10:47):So Monte Carlo is a popularspot. I remember that from the old games when you play. It would always be inthese hot spots like Monte Carlo.
JackPalermo (10:54):Like, "Look at this. Thisis cool."
BrendanKing(10:56):But Formula 1 is incredible. Andthe fact that it's coming to Vegas is massive. I think thousands and thousandsof people will come just to watch.
JackPalermo(11:03):Yeah. For sure. It's going to beawesome.
BrendanKing(11:04):Formula 1. Let's see. Last time,what was it? [Fonts and Blue 00:11:09]. You heard it here before to hit thenews.
JackPalermo(11:11):We get the renderings ahead oftime.
BrendanKing(11:13):Yeah. So on Formula 1, youprobably are hearing it here before you hear it anywhere else. Because on March30th, they'll officially announce it. But we've already officially announcedit.
JackPalermo(11:20):And it's March 17th. St. Patty'sDay.
BrendanKing(11:22):Yeah. So it's 13 days. See, Ican't do it. I can't do the accent.
JackPalermo(11:25):So in other big sports news intown. The Raiders. Let's talk about the Raiders. So the Raiders just made ahuge move yesterday. They signed Chandler Jones. Who's a defensive end. He'svery good.He's a perennial Pro Bowler, All-Pro. He's going to be defensive endon the opposite side of Maxx Crosby.Get more pressure on the quarterback, whichis great. So then they were wondering what to do with in Yannick Ngakoue. Well,they literally right after they signed-
BrendanKing(11:51):Say that three times fast.
JackPalermo(11:52):Yannick Ngakoue. YannickNgakoue. Yannick Ngakoue.
JackPalermo(11:55):I got it.So anyway, so theytraded him right after they made this deal happen. They traded him to theIndianapolis Colts for another starting corner.
BrendanKing(12:03):And he's never played a game forus?
JackPalermo(12:04):No. Yannick Ngakoue?
JackPalermo(12:05):Yeah, he has.
BrendanKing(12:05):So I've never seen him play.
JackPalermo(12:07):Yeah, he was on defensiveplaying.
BrendanKing(12:08):I thought you said before thatwe had him and then we literally got rid of him right away.
JackPalermo(12:13):No, that wasn't.
David (12:14):Quit fighting guys.
JackPalermo(12:17):So anyway, they traded Ngakoueand they got another starter on defense, cornerback Rock Ya-Sin fromIndianapolis. So they all traded. The traded grades on ESPN was an A. So goodmove by the Raiders. They needed to do something because every other team ofthat division has done a ton.
BrendanKing(12:33):Yeah. For sure. This is huge forus and we need it honestly. With some of the quarterback scenarios right now.
JackPalermo(12:40):Yeah. We're going to need to putsome pressure on them.
BrendanKing(12:40):We need to put some pressure onthe quarterbacks.
BrendanKing(12:44):As much as we love ourquarterback, definitely we've got some huge, huge pressure on the quarterbackside.
BrendanKing(12:51):But, massive, massive win forus. Vegas Knight Hawks. So we've announced in the past that we've got an IndoorFootball League. So the inaugural IFL season will be at the Dollar Loan Center.Friday, March 18th. Vegas Knight Hawks versus the Northern Arizona Wranglers.And this is taking place of where that outdoor venue was in Henderson.
BrendanKing(13:15):Right by Green Valley Ranch.Honestly, perfect position for a 5000+ seat arena.
JackPalermo(13:22):55,567. This place is going tobe great.
BrendanKing(13:26):Awesome place. Good placeeventually for concerts. Actually will be better than the outdoor one, becausewe can do 12 months of the year. But look at the center line, in 25 yards.
JackPalermo(13:36):It's a short field.
BrendanKing(13:37):I can't imagine there's anykicking involved at all.
David (13:37):They can't kick.
BrendanKing(13:40):I don't see any uprights. So itmust just be all about passing and running. But quick game, like arenafootball. Like back in the day.
JackPalermo(13:48):Right. 70 to 65 scores and stufflike that.
BrendanKing(13:52):Yeah. So it'll be fun.
David (13:53):I want to check it out.
JackPalermo(13:54):Yeah. Check it out for sure.
JackPalermo(13:56):Definitely going to check thatout. Inaugural IFL season. Game time, 7:00 PM. And that will be on Friday.
David (14:06):Friday. Tomorrow.
BrendanKing(14:06):Awesome. Definitely worthchecking out for sure.
David (14:08):There's a cool bar inside thisplace too.
BrendanKing(14:12):Craggy Range. Funny name. Notsure where it comes from. But Craggy Range Sports Bar & Grill is open now.Great food. 16 draft brew, 31 wines and 16 bourbons.
BrendanKing(14:25):That's a pretty hefty number. Ifeel most bars have 16., They just don't say it.
JackPalermo(14:30):We should go try them, seethey're.
BrendanKing(14:31):You might as well put a numberon it.
JackPalermo(14:33):Yeah. Might as well.
BrendanKing(14:34):But yeah, definitely check outCraggy Range. So it is at the Dollar Loan Center, which is right by GreenValley Ranch area by The District. And open Sunday through Thursday, 11:00 to9:00 and Friday and Saturday 11:00 to 10:00 PM. Or just check out the game andgo eat some food.
JackPalermo(14:52):Yeah, why not.
BrendanKing(14:53):Definitely worth checking out.It's just another thing that Vegas has added.
BrendanKing(14:57):It's like, "What else canwe add?" And then they've actually inked a partnership with M Resort. So MResort may as well add another football team to their roster.
JackPalermo(15:08):Yeah, they have the Raiders.
BrendanKing(15:09):Their connection with theRaiders. So it's a smart move. They've inked a partnership also with the KnightHawks. So they'll be the headquarters for the Knight Hawks, as far as yourplace to stay if you come see the game.
JackPalermo(15:22):Sure. Very cool.
BrendanKing(15:25):Definitely cool. Absolutely. Iknow, I know. This is up Jack's alley.
JackPalermo(15:30):This is huge news for me. PearlJam will be coming back to Vegas for the first time in 16 years.He does notsound Kermit the Frog. Thank you Brendan. Anyway, so MGM garden arena May 20th.They're back. First time in 16 years, I've seen them four times in my life.They're amazing live and I can't wait until May 20th.
BrendanKing(15:51):Yeah. This is like our highschool. Our entire high school has been reenacted in Las Vegas over the pastyear.
BrendanKing(15:58):Any and every band that we couldever have imagined that existed through that entire period has been through LasVegas and whatever.
JackPalermo(16:06):The grunge time. I wore myflannel just because of Pearl Jam. And it's got some and it's got some St.Patrick stuff Anyway. Double whammy.
BrendanKing(16:13):What kind of Irishman am I. I'mwearing a blue short sleeve shirt. Not going to worry. But yeah, definitelyworth checking out for sure. MGM Grand Garden Arena. Have you seen an eventthere?
JackPalermo(16:24):Yes, that's awesome.
BrendanKing(16:24):It's a great venue. So Life isBeautiful, 2022 lineup includes; Jack Harlow, Arctic Monkeys and The Gorillaz.And additionally, other great bands as well.
BrendanKing(16:37):Lorde, Calvin Harris.
JackPalermo(16:39):Calvin Harris, Cage TheElephant, Beach House.
BrendanKing(16:41):It's another great lineup. Ifyou've never been to Life is Beautiful, it's just endless music, food, drinks.
BrendanKing(16:49):They pretty much shut downDowntown. I've had a few clients that live at the Ogden that are like, "Ijust can't leave my house for 3-4 days in.
JackPalermo(16:56):Yeah, you just sit down yourbalcony and listen to the music.
BrendanKing(16:57):Yeah. And purely based on thatwhole change of Downtown years back, thanks to-
BrendanKing(17:06):Tony Hsieh. He definitelycreated this event and it continues on. And it's a great event. Jack's beenseveral times.
JackPalermo(17:16):Yep. Four years, I think.
BrendanKing(17:17):Yeah. So three day passes startat $380 and go on sale at 10:00 AM on Friday. So definitely March 18th, 10:00AM, check it out. Tickets will go on sale. And they typically do sell out.
JackPalermo(17:30):They sell a quick.
David (17:30):Yeah. Real quick.
BrendanKing(17:31):Especially the experiencetickets.
JackPalermo(17:33):Mm-hmm (affirmative). The VIPsand stuff.
BrendanKing(17:33):If you want to do the VIP or anyof the experiences, definitely hop on it because they sell out pretty fast.So10 years, this makes me feel an old fogey, because I've been here for over 10years now. And I remember the Smith Center opening in Las Vegas, but the SmithCenter turns 10 years, which is crazy.
JackPalermo(17:54):That is crazy.
BrendanKing(17:54):That is our Broadway House. It'swhere a lot of the cultural institutions like, Yo-Yo Ma or Alvin Ailey andthings that would not come to Vegas before. Thanks to Smith Center, gave them aplace to premiere and perform for everyone here. So it's definitely an Artsinstitution here. And anything that comes through related to Broadway goes tothe Smith Center.
JackPalermo(18:17):So for their 10 yearanniversary, they are going to ho be hosting another epic performance, whichwill be filmed for a future PBS special with the legendary Paul Anka. He takesthe stage at Reynolds Hall as part of Anka Sings Sinatra tour.
JackPalermo(18:32):So we always say, when Brendandoesn't get a haircut, he looks a young Paul Anka. So we just thought we showthat up there. There it is. There he is. So it's funny because we mentionedPaul Anka quite a bit. So when we saw that he was on, I thought that was prettyfunny.
BrendanKing(18:48):Hey, I've got some thick hairand it goes up over time. So it ends up being a bouffant.
David (18:56):I wish I had a side by side. Ifonly I had a little more time.
BrendanKing(18:58):Jack always calls me Anka whenthat time comes.
Yeah.He's definitely Anka.
BrendanKing(19:03):I'm at the Anka moment rightnow.
JackPalermo(19:04):But don't forget to go ahead,and if you want to see Paul Anka, the real one, not this one right here.
JackPalermo(19:10):Go to smithcenter.com fortickets.
BrendanKing(19:12):Yeah, for sure. Check it out.And anything that happens at a Smith Center, it's just a great venue.
BrendanKing(19:19):It's got the European style setup. The boxes all around. It's very much set up like an Italian theater. Great,great, great, great, great venue.So completely unrelated to everything we'vebeen talking about. Fed raises key interest rate to fight inflation. Soobviously inflation is raging right now and everything that we buy and use on adaily basis, whether it's gas in our industry or just even simple things likewheat, everything's raised in price.So to curb some of that inflation, they'veraised the key interest rate by 25 basis points, which means a quarter of apoint, 0.25. What the heck does that mean in our industry? People get confused,because they hear that right away and they assume mortgage rates go up quarterpercent. But mortgage rates and the fed rate don't actually completely line upexactly. So a 0.25 raise in the fed interest rate, isn't directly correlated tomortgage rates, because mortgage rates jive more with the 10 year fed rate. Socurrently, the quarter point, we've already seen increases in mortgage prior tothis, because it's based on economic factors, more so than it is based on thefed rate. But it does still jive together .So, that's where it gets confusing.People are like, "Quarter point, quarter point, quarter point." Doesthat mean that if they raise it a quarter 6 times, that we're going to go up1.5? No, it doesn't. The mortgage rates are still based on other things. The 10Year Yield and also the economy itself. So if things are still strong, itdoesn't necessarily mean we're going to jump to five and a half overnight. Butit still means something.
JackPalermo(21:11): Something to keep an eye on
BrendanKing(21:12):Credit cards, car loans. Thoseare almost immediate, right away.
David (21:17):Car loans.
BrendanKing(21:18):That goes up quarter point. Soif you're at 17 before now you're at 17.25. But if you're already paying 17,you already feel the pain. 17.25 is just a little bit more painful.
David (21:29):So doing a re-finance orsomething that like that?
BrendanKing(21:32):Either way you should probablystill do it anyway. Just for the fact that interest rates, even mortgage rates,are going to go up anyway. Just because free money only lasts so long and we'reat that point in time where now we're getting the effects of free money for along period of time. You can only flow cash into the system for so long beforeit bites you in the butt. And by that meaning things like inflation increase.And that's what we're seeing right now. We're seeing inflation increasingbecause of the fact that money's been cheap for a long time., Does that meanyou and I have just received free money and it's giving money to you? That'swhere it gets confusing. Because people are like, "Free money? I didn'tget any free money. COVID, I didn't have a job..."No, it's institutionalfree money. So business and lenders, and all these industries have just beenable to give money a lot more easily without a lot of regulations. But as thattightens, then things get more expensive and so free money was not a cashmachine you get in. You're like, "Oh yeah."
David (22:35):The box.
BrendanKing(22:36):It's not Oprah. But it justmeans that money was easy and now money will be more scrutinized. So as riskgoes up, then it gets more scrutinized and less money goes into the system. Andthe that's where we are. But I think this quarter point will only be met, hementioned, by another six. I think he said they'll meet six times this year. Soit's going to be six increases. Could be a 0.25, could be a 0.5, if they feelthe need. I don't know. I'm not an economist, but I don't necessarily feel thisis going to curb it too much. Because we've got so many other crazy thingsstill going on. There's still waves of COVID in Asia, the Ukraine-Russia warright now, there's some wheat related issues there because I didn't realize it,but Ukraine grows a lot of wheat.
JackPalermo(23:24):A lot of wheat. Fourth in theworld.
BrendanKing(23:26):No idea. So these are the thingsyou don't know until stuff happens. So, we'll see. But, if you're going toReFi, like David was asking, I would say do it now. If you're going to buy, doit now. But it doesn't mean later is not a good time either. That's the oddthing. It's really a matter of personal situations. So reach out to us and letus analyze your scenario and help you understand that, if in your scenario it'sa good time or not, is really based on your personal situation. And not as funas sports, but still informational and important.
JackPalermo(24:00):Nevada gas has hit $5 a gallon.Third state to ever hit $5 a gallon average gas price.
JackPalermo(24:09):It's insane. So the VegasValley, their averages 5.04 per gallon on Wednesday. Up 7 cents from the previousday, according to AAA. So yeah, we are the third state ever with $5 average.
BrendanKing(24:22):And I always thought we hadcheaper gas here, but it's all also talking from somebody who hasn't had gas in7 years.
JackPalermo(24:22):Well, I will travel in electric.
BrendanKing(24:29):But in New Jersey we hadridiculously low gas. So when we'd hear the prices in California, it justdidn't correlate, didn't really makes sense. But West Coast, gas is just crazyexpensive.
JackPalermo (24:41):It's crazy. It's insane.
BrendanKing (24:41):But California, it's likeanother dollar I think.
JackPalermo (24:44):It's like six something in andSan Francisco and stuff. That's Wild.
BrendanKing (24:47):Yeah. That's crazy. In a townwhere you drive nowhere fast.
JackPalermo (24:51):Right. So your gas is...
BrendanKing (24:54):12 miles is really 48 miles,because you're sitting there just burning gas. So daylight savings time couldbe permanent. The bill was approved by Senate and would make day savings time.Permanent. Crazy.
JackPalermo (25:09):That would great.
David (25:09):That would be great.
BrendanKing (25:11):I don't really have any-
JackPalermo (25:11):Every time it switches, it takesme three days to get back to either-
David(25:15):Dark at 4:30.
BrendanKing(25:17):Did you know accidents go upalways, three days after because people are rushing or haven't changed theclock, their VCR.
David (25:25):Makes sense.
BrendanKing(25:27):Yes. I think the only clocksleft that we need to change now are the oven and the microwave.
JackPalermo(25:33):Microwave and the oven.
BrendanKing (25:34):That's it. If you've got otherones, you let us know, because those are the only two in my house.
JackPalermo(25:38):I do have an old school alarmclock. I do own an old school.
David (25:42):But you're right with accidentsand also pedestrians. Because think about it, rush hour is five o'clock. Peopleare busy in the city.
BrendanKing(25:49):Most people who go home, theywere saying, when the time goes backwards, people then walk or go home fromwork or get to their car in the dark. Now it means they'll always just go totheir car or get home in the light.
JackPalermo(26:04):That should be great.
BrendanKing(26:04):But then the vice versa, mydaughter goes to school sometimes at 6:30 in the morning and it's pitch black.But I don't mind that. It's nice. We drive school and the sun's just rising.I'm I'm all good with that. So, it could be permanent. Let's see if that's thecase. I don't think any of us have a problem with it. I I don't think anybodyhas a problem with it. I did see some comment on Twitter, yes I do look atTwitter. That somebody said, "Farmers? That's not good for farmers."
David (26:04):But that's why it never happenedhere.
BrendanKing(26:34):But that was why it existedbefore. But I would think with modern technology, does it?
JackPalermo(26:38):It should be fine. What's anhour.
BrendanKing(26:40):Well, somebody else said,"Does that ruin the ski-industry?" But then this other guy was like,"I work as a general manager of a ski resort. We'll just open an hourlater." He's like, "It may actually be good because people who areski the day before and hung over, can actually get there for the 9:00 AM skiopening instead of 8:00 AM.
JackPalermo(26:56):Right. You can sleep an extrahour.
BrendanKing(27:02):There's always a way to adjust.I think we all fall in our patterns and this may just be a nice little change.
JackPalermo(27:09):I like it.
BrendanKing(27:10):So what's going on with this?
JackPalermo(27:12):Tilman Fertitta is rumored to bebuilding a casino resort on the Las Vegas Strip.
Solet's clear this real quick.
JackPalermo(27:20):Not the Fertitta from StationCasinos.
BrendanKing(27:22):Yeah. So Tilman Fertitta is notrelated to anybody from Station Casinos or UFC at all.
JackPalermo(27:26):Correct. Tilman Fertitta isactually, he's the owner of the Houston Rockets, NBA Basketball Team.
BrendanKing(27:32):And he's got a book called, ShutUp and Listen!
JackPalermo(27:34):He's got a book called, Shut Upand Listen!, as we just saw. And wasn't he on the Undercover Boss?
BrendanKing(27:38):Yeah. He was, I saw him.
JackPalermo(27:39):He was in Undercover Boss. Butanyways. So this casino is going to be on the strip, where the Harley-DavidsonCafe used to be. And where it's now the Tex-Mex and Tequila Bar & Grill.Right there, more on the south end of the strip.
BrendanKing(27:55):That was a natural reaction.That is not a nice build out. I'm sorry.
JackPalermo(27:58):So I mean the casino will notlook like that. I mean, we hope.
BrendanKing(28:03):That was horrible. Go back.Because the Harley-Davidson, show the Harley-Davidson before that. VeryHarley-Davidson.
David (28:08):Very cool.
BrendanKing(28:09):It's almost like they justripped everything off and gave you that. "Here you go. Here's yourTex-Mex." Isn't that right in front of the Polo Towers? Is that like that?
JackPalermo(28:18):I'm not even sure building thatis anyway.
BrendanKing(28:20):It's probably a good change, nooffense to Tex-Mex.
JackPalermo(28:22):It's probably going to bereally, really nice. Thank you Tilman for doing-
BrendanKing(28:27):7.8 Acres though, that'sactually a decent size. Cosmopolitan sits on 8.5.
JackPalermo(28:33):8 and a half.
BrendanKing(28:34):7.8 is a pretty good size lot.So it'll be interesting what they do with it. That was a totally naturalreaction, but I hope it's a better build out than what Tex-Mex's current designis.
JackPalermo(28:46):Yes. I agree.
BrendanKing(28:50):Good job Tilman. So lotterysystem likely for Clark County short term rentals. So we've been dealing withthese questions nonstop from investor clients and other clients that haveAirbnbs and what the deal is. So they're trying to come up with some sort ofanswer to all the questions about what the heck we're going to do with allthese licenses for short term rentals. And it sounds like they're setting up alottery system to issue more than 2,800 licenses, for operating short termrentals. In a move that would seek to regulate a massive insanely sloppyindustry right now.
JackPalermo(29:27):What's crazy is, what we readwas, "There's 6,000 to 12,000 properties believed in me operating."It's crazy.
BrendanKing(29:34):No, I know tech guys. I knowtech guys that another agent friend of mine, he's worked with a lot of these.They have a conglomerate, 18 of these guys together. They just buy a bunch ofhomes, turn them into Airbnbs, knowing the risk of possibly getting fined. Butknowing if they have 15 of them, one gets fined, they sell it and then theystill make money on the other 14th. So, that's the game they've been playing.And that's why the city's catching up to it now. Where they're like, "Hey,we can't fight this. And people want it, so now what do we do about it?" AndI don't know whether this will really change much, but-
JackPalermo(30:10):We shall see.
BrendanKing(30:13):Yeah. And it's a good place foran Airbnb there. Some people don't want to have to walk through a casino for 60minutes to get to their room.
JackPalermo(30:21):But obviously they are the oneswho are so anti-Airbnb, casinos.
BrendanKing(30:25):Big time. When you go, a coupleof my clients have been a part of these fights at the city hall. It's mostlyfilled with lobbyists and people involved with the hotel industry.
BrendanKing(30:40):So I think a lot of them areprotecting in their interests.
BrendanKing(30:43):Like the fact that we're in abig resort town and if we had suddenly 20,000 Airbnbs.
JackPalermo(30:49):It hurt the bottom line.
BrendanKing(30:50):That's 20,000 times the numberof people per stay, because we're not going to squeeze eight friends in a hotelroom.
BrendanKing(30:56):That's four hotel rooms. But ifwe go to one house, that's cool. I can do that.
JackPalermo(31:00):Yeah, true. True.
BrendanKing(31:01):But four hotel rooms, multiply20,000 times, let's say on average two, that's 40,000 hotel rooms taken away.
JackPalermo(31:09):Right. That's insane.
BrendanKing(31:10):That's my math. That's napkinmath. So I see why they fight it. But let's see what happens. So it is going tobe a lottery. That's at least what they're proposing at this point. That'stheir intent. Likely is the word. But let's see what the deal is. What they'retrying to do is cap the licenses to 1% of all homes. So adopting 1000 footdistance requirement between rentals. And limiting licenses to one perhomeowner or limited liability company or LLC.
BrendanKing(31:39):But can't you just have sevenLLCs.
JackPalermo(31:42):Why couldn't you?
BrendanKing(31:42):Mm-hmm (affirmative). I don'tknow.
JackPalermo(31:44):Interesting. Something to thinkabout.
BrendanKing(31:49): Yeah. And if you wantinformation about the market, always, always, always check out our website.Every single Monday, we put out information about where the Market is today,compared to last week and compared to history. And if you want it in a text,text Market to 702-553-1955. And we've got a pretty dialed in understanding ofwhat our every Monday stats are, even when we don't get them sometimes from oursource.
JackPalermo(32:17):We find them.
BrendanKing(32:19):We scramble and we get thembecause it means a lot to us, because that's our comparison. Every Monday weknow where we stand in the market and we know our entire team knows this insideand out. So it really will help you understand the market inside and out. Sotext Market to 702-553-1955. And you can get this by text every single week.
JackPalermo(32:39):So let's talk about the BKG,Breakfast Spot Of The Week.
BrendanKing(32:43):Yeah. This is an honor of DavidGomez. This should be the Gomez, BKG Spot Of The Week.
JackPalermo(32:47):The Gomez, BKG, Spot Of TheWeek. So the original Broken Yolk Cafe. So the Broken Yolk Cafe is located inTown Square. Super cool. They're known for their signature Egg Benedicts and 12ounce Mimosas, which are a must.
BrendanKing(33:02):Nice, nice, nice.
JackPalermo(33:03):So I guess the original BrokenYolk Cafe started in 1979 in Pacific Beach. A local beach community in SanDiego.
BrendanKing(33:10):PB as they call it.
JackPalermo(33:11):Hey PB. Right on.
BrendanKing(33:14):Yeah. Got, the trends down.
JackPalermo(33:16):I like that.
BrendanKing(33:17):That's the only one.
JackPalermo(33:18):And then don't forget to checkout our newsletter, the BKG Newsletter.
BrendanKing(33:23):Yeah. Every Friday we send thatout. So just go to the website, scroll to the bottom if you want to sign up,and just get the newsletter, nothing else. You can always sign up for just thenewsletter. But hey, why not get everything else from us too?
BrendanKing(33:35):But yeah, it has all thisinformation, all the time. Entertainment, restaurant information and of coursereal estate. But we try to keep this mainly just toward what's going on intown. And give you an understanding of what you can do for the weekend or takeyour family or your spouse and head out and check out the city that we love somuch.
BrendanKing(33:56):And of course, if you want tojoin the team, check out jointhebkg.com. So WWW, as we all know, and thenjointhebkg.com.
JackPalermo(34:06):Or, you can text Join, to ournumber 702-553-1955.
BrendanKing(34:12):That number we love so much. Yesyou can text Join, to 702-553-1955. And VIP, get on our list. Text to the samenumber 702-553-1955. And don't forget. Soon, we'll be putting this to an audiopodcast. So, if you want it to listen in your car or anywhere else, whileyou're working out, it'll definitely be a great option. We'll be getting thatto you guys next week. So all these episodes will be available by audiopodcast. I don't know why I have to use the word audio in front of that.
JackPalermo(34:49):Podcast. Just podcast.
BrendanKing(34:50):Yeah. Just podcast is finepodcast.
JackPalermo(34:52):This is what we would call avodcast.
BrendanKing(34:54):No, a vlog. Video podcast.
JackPalermo(34:58):Video podcast, yes.
BrendanKing(34:59):Yeah. How old are we? All right,you guys, thanks for checking out this week. And as always, we'll see you guysnext week. Go check out the football team this week. Go check out MarchMadness.
JackPalermo(35:11):March Madness. Pearl Jam.
BrendanKing(35:14):Pearl Jam in a few jam weeks. We'vegot so much going on. We'll see you guys next week.
JackPalermo(35:16): See ya.