tv Maria Bartiromos Wall Street FOX Business September 30, 2018 9:00am-10:01am EDT
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us, that is it for this week's show thanks to all of you for watching i am paul gigot hope o to see you right here next week from new york. have a great weekend. >> announcer: from the fox studios in new york city, this is maria bartiromo's "wall street." maria: happy weekend, welcome to the program that analyze the week that was and positions you for the week ahead. my exclusive interview with treasury secretary hank paulson. but first susan li is standing by. >> the senate judiciary committee voted to recommend brett kavanaugh for the supreme
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court. they agreed to delay the vote for one week while the fbi investigates the allegations against brett kavanaugh. >> this country is being ripped apart and we have to make sure we do due diligence. i think we can have a short pause and make sure that the fbi can investigate. reporter: more trouble for tesla founder elon musk. he's being sued by the sec. tesla stock has fallen over 20% this square. the fed raising short-term interest rates for the third time this year. the fed raising rates from 2 to
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2.25%. they are expected to raise rates three times in 2019. markets also finishing mixed for the month. trade and regulatory concerns. facebook is seeing its worst month in six years. the shaky september didn't stop the record bull market as markets finished in the green for the quarter. maria: the federal reserve raised interest rates this past week by a farther percentage rate. from 2% to 2.25%. it's the second of three -- it's the third this year and three more expected next year. you expected the feds to raise
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rates? >> we did. and we expect another raise in december. the question is how many times they will tighten next year. they are plotting four, in my opinion that would be too many. inflation is still quite calm. but i think this is a good process because you are getting the fed out of the way. you are using more than monetary policy to stimulate the economy. maria: later we'll talk with about this. third quarter earnings begin flowing next week. what are you expecting the rest of the year? >> i think the standard consensus view on wall street is we are in the late inning of the business cycle and the most
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non-consensus view is we mayor in the 6th not 7th inning. the -- the supply side impact of the tax cuts have not been fully seen in terms of capital spending and hiring. the earnings picture couldn't be much better. even with the fed raising rates. it's still very accommodative. there is a lot more to go in the bull market and the business cycle. the news will be good. i think investors will have to be more choosey. but i think it's going to be a good period for the economy and the market. maria: i think i agree with you. we just saw another revision to the gdp. we had a great third quarter and we are expecting earnings to back it up. one thing with this economic policy out of the trump
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administration is the rollback of regulations. doesn't that correlate to businesses investing in the economy and their companies. >> business confidence and business round table, big companies round table confidence spiked after the election and stayed very, very high. that bodes well. when you have profits up 22% for the third quarter, and you have business confidence that's high, so in my opinion, this is not over by a long-shot. and hopefully we don't make any self-inflicted errors. but the rollback in regulations is a big part of the reason why business confidence has been higher. it's not just the tax cuts it's the fact that you are not a small business owner knowing regulations won't be worse. that in and of itself inspires
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confidence and makes you focus more on your business as opposed to keeping regulators happy. >> i think there is a long runway here in terms of the economic policy. obviously some valuations have gotten stretched within technology, elsewhere. how do you want to allocated capital knowing this backdrop is strong. >> you want to be in similar places. two sectors that with benefit most of from that would be financials and energy. there is 11 sectors. but we are overweight financials and industrials and technology. in my opinion financial energy will benefit the most of from the deregulatory process we are seeing. i think it's a very, very -- it's a very important policy goal to get the velocity of money out and get banks to lend more.
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maria: thank you so much. stay with me. my one-on-one with hank paulson is next. >> announcer: how close did the great recession come to become an actual defletion. >> there were many, many tense moments. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. "have you lost weight?" of course i have- ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know.
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ford. is it ford? nope, it's not ford. i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right. from the family of the most dependable, longest-lasting full-size pickups on the road. gorgeous. chevy hit it out of the ballpark with these. maria: welcome back. we are just about 10 years away from the worst global crisis in a generation. in a fox business exclusive, i sat down with hank paulson. he tells me he's amazed and relieved how far we have come in just a decade. >> obviously our economy is quite strong today. the financial system is better regulated, better capitalized. so there is a lot to be grateful
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for. but the enemy is forgetting. the crisis placed a very heavy burden on many americans, particularly those with modest incomes or at least able to bear it. i think we don't want to forget where we were and we also need to recognize how much worse it might have been. >> are there days or instances, issues you remember to be, that was the tale signs? >> the crisis really began in august of 2007. and it had been grinding on for a long time before we saw the bear stearns failure. but there had been a lot that happened up until that time. i would say there were many, many tense moments that i underestimated the extent of what we were dealing with every
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step of the way right up until we got the tarp authority from congress. when i think of the tense moments, there are plenty of them. there was lehman going down. the first time congress voted on the tarp. there was the time when the money markets were imploding and commercial paper funding was drying up for major industrial companies. it was a tense time. but we -- i think we can look back on it and while recognizing how difficult it's been for so many americans, recognized it could have been far worse. we were very, very close to a real economic catastrophe that could have rifled the great depression. maria: fannie mae and freddie
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mac, you stabilized them at one point. that's an area where people feel it could have gone in a terrible direction. >> i think the thing we did that was most of impactful that's least noticed today, these two agencies are huge. they have $5.4 trillion in securities outstanding. they were insuring half of all mort gangs originated. their securities were sold and held all around the world. and when they began to implode, it could have been a disaster if we hadn't couple with a way to stabilize them and nationalize them. can you imagine if we had not nationalized fannie or freddie before lehman went down? the roltr -- the other thing that's not generally recognized. i believe putting fannie and
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freddie into concern toreship did more -- into conservatorship, by nationalizing fannie and freddie, it's the only source of financing during the crisis. just imagine if they hadn't been nationalized how much farther home prices would have fallen and how many people would have lost their homes. maria: investors in fannie and freddie today say i am shocked they are still federalized. and federal officials were using money from fannie and freddie and taking it out and putting tonight other places. >> when we nationalized fannie and freddie, no one thought they were going to continue in their present form because it was a flawed model.
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no one was defending it. but it worked so well that there was no, you know, compelling reason to change things. as you said, once they are stabilized, they generated income which helped reduce the deficit, went into the national coffers. so am i unhappy, am i surprised there has been no permanent reform put in place? yes. do i expect anything to be done in the near term? no. maria: do you worry given your experience in china in terms of this spat going on between the two largest super powers? >> it's a grate concern that trade wars ultimately will hurt everyone involved. but it's totally and completely unacceptable for china not to move to open up its markets.
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this is an untenable position for them to expect the rest of the world to keep our markets open for their companies if they don't open up for foreign companies. so they need to do more to open up. maria: my thanks to former treasury secretary hank paulson. >> announcer: the markets are hitting new highs. hitting new highs. so what could so you just walk around telling people geico could help them save money on car insurance? yea,that and homeowners, renters, motorcycle and boat insurance.
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10 years after the financial crisis. my next guest is predicting a recession for the first time in 10 years. are there hazards on the horizon? joining me to discuss, economist nouriel roubini. he's called by "foreign policy magazine" one of the top 100 global thinkers. he predicted the 2007-2008 housing collapse. you have concerns about where we are on the horizon. but characterize where we are in terms of the economy. >> the economy in the u.s. and globally is doing well. next year the will be slightly less than 2%. but i expect a slowdown and likely a recession by 2020. the next two years things are
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fine, but then we'll have a significant slowdown in growth. maria: why? where -- how do you get there for a slowdown and recession in 2. > in -- in 2020. the third quarter looks like around 3%. the economy is growing around 3%. this year and next year, 1% of gdp. consumer confidence is better and business confidence is better. but most of of the movement from 2 to 3. the way they designed it to 018-2019. and it's a cliff. the stimulus goes away and the
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beginning in 2020. and it will get bigger and bigger by 2025. the 3% pushes you below 2%. around 2.pay the, and 1.pay the by 2020. they have no other choice, you have the trade war, you have trade wars, not just trade friction. it will slow down growth. lack of spending, and the rest of the world is weaker. maria: there are many people who feel the roll back regulations was so significant because under the obama administration you had a scenario where businesses were sitting on cash. this administration rolls back regulation. that's why they believe there is
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a long runway, that it will continue to impact corporate america. they will increase cap x because of the lack of threat of new regulation. you don't buy into that. i believe reziewtion regulation might have economic growth in the short time. the ceo is. 0.1 over a decade. 0.01 every year, then the drag after 2020. but there are other times of regulation that slow down growth. immigration, not just on countries from arab. it slows count potential growth of the labor supply. we'll start not just a trade war with china. but into the u.s. from china and other countries. we'll restrict the ability of
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firms to invest abroad or hire abroad. the whole motto of trump is hire american, buy american. so you will have the allocation of labor capital will be worse. that will slow down growth. maria: you said inflation could be an issue. we have the ppi and the cpi in the last two weeks paint was nonexistent. >> wage growth has started to pick up from 3%. the inflation last we are bottomed out at 1.3%. close to the fed. where fiscal sometime st. louis was overheating of the economy. yes there are some changes in trade. but the policy of trade restriction, migrationw and
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earnings for cal main foods. we'll get the latest on jobs with the services pmi. thursday we'll get initial jobless claims and earnings from costco. the big event in the september jobs report will be out. be sure to tune in for "mornings with maria." earnings will begin to flow fast next week and the following week as the fourth quarter kicks off. coming up next week join me for home depot co-founder. and tray gowd why is my special guest on "sunday morning futures."
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be sure to follow this program and facebook, twitter and instagram. get the latest videos and pictures from the program. send us a >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,
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i'll give you critical tips you need to know in the massi memo because information is power. and the "property man" has got you covered. [ woman vocalizing ] welcome back. i'm bob massi, the property man. every day in america, nearly 11,000 people turn 65. think about that. 11,000 every day. people are also living longer and staying healthier and therefore spending more time in retirement. so it's becoming more and more critical to think about retirement, including where and how you're going to live. kay and her husband lived in new york, but knew that eventually they wanted to retire in a warmer climate. so they turned to scottsdale, arizona, and realtor warren neal. >> this is one of the beauties about living in scottsdale, kay. >> now he specializes in finding homes for his clients to enjoy in retirement. when warren showed them this property, they knew
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the house wasn't perfect, but fell in love with the location. >> one of the things unique to this property is that it has both the golf course, the mountains, and a city view. >> was view important to you and your husband? >> yes. absolutely, because it's such an outrageously gorgeous part of the world. >> it is. >> we have dinner almost every night outside, al fresco. that was one of the big draws to this particular property. >> scottsdale is one of the top retirement communities in the country. and it's no mystery why. >> people don't come here to become couch potatoes. they become better golfers, better tennis players, ride their bike more often. >> beautiful scenery, top-rated golf courses, great shopping and dining, the area has pretty much everything you'd find on a retirement check list. you're a designer? >> yes. >> interior decorator, i should say. so obviously, you did things to the home. >> we knew it wasn't the perfect house for us. but we looked at what we thought we could do,
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take out some walls, new kitchens, and renovate so it worked for us. >> you can change a house. you can't change a location. just like with any property search, finding the right realtor is critical. and the relationship you have with the realtor can make a huge difference. >> warren is a very good listener. so when you say, "i'm looking for a house with character or one that has green grass that i can see," he takes note of all those issues. he also is an extremely good detective. he will notice little things around a house that potentially could cause a problem. >> warren, when you met kay, what type of things were you asking her to make sure that you could satisfy what her objectives were and her husband's objectives? >> all the questions that you would typically ask a buyer. of course, you ask about the house, what kinda house they're looking for. you want a one-story house? how many bedrooms? how many baths? you know, the typical questions you would ask.
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but you also ask some questions about their lifestyle. >> when thinking about your retirement, there are some dos and don'ts that you need to keep in mind. first of all, you need to understand what will be really important to you over the next many years. >> many clients, you work with 'em for a few days and you find out that their requirements that they have identified aren't really what they're looking for. >> i see. it's not just what kind of house do you want. you wanna spend retirement sitting on the back porch or skiing, hiking, or golf? you need to think of this. it's where you'll potentially be for the rest of your life. and you might think it's time to downsize. there might be only you and a spouse living there. but what happens when the kids or grandkids, they come to visit? >> sometimes they think, "well, it's just the two of us. so this is all we need right now. the kids can stay in a hotel." so 3 years later, they turn around and say, "i need something bigger." >> kay wasn't looking to downsize and wanted to ensure the house was inviting to the whole family. what are you looking
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to get out of the community? you want to just be off by yourself or with shared amenities, like pools, recreation centers? >> each individual client has a different requirement. uh, they're buying a lifestyle. >> your real-estate agent shouldn't just know your price range. he or she should really understand everything about you and your needs. >> you try to identify all those little items that they would be interested in. >> many people don't want to spend retirement just surrounded by other retirees. think about the make-up of the area, who you want as your neighbors, how easy would it be for the kids and grandkids to get to you or for you to get to them. and, of course, you need to really understand your own finances and how much you can afford. calculate all of your retirement income, including social security or pensions. and then figure out what all of the expenses would be. >> i wanna know immediately when i first meet them what their budget is. then as we move through looking at properties, we start talking about
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the other costs that are involved in owning a home. >> there's a lot more than mortgage payments -- hoa dues, property taxes, insurance. >> we find out that they want to belong to a country club. we're looking at commute times and all of -- any improvements that they wanna make to the house. uh, these are all costs that we have to factor into purchasing a house. >> and if you're planning on traveling during retirement, that's going to cost you, too. add it all up before deciding how much to spend on your property. >> sometimes those costs, uh, exceed what they're willing to do. so we go look for another house that will meet that budget. >> it's always a good idea to spend a decent amount of time in the area that you're considering before signing anything. look for an airbnb rental or something similar nearby so that you can get a sense of what it's actually like to live there. lots more "property man" to come. up next, i found a house that's a cowboy's dream with its own horse stables and corral. but it's what's buried out back that really make
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♪ >> welcome back. i'm bob massi. "the property man" is always on the lookout for homes that just have that special something. and, boy, did i find one, right here in cave creek, arizona. this 4,000-square-foot equestrian estate is listed at just under $728,000. >> this is a really unique property. it's a four bedroom, four bath. it's just about 5 acres, at 4.97 acres. the property actually can house 42 horses. so you have covered stalls, mare motels, covered hay storage. so it really is kind of a cowboy chic place to be. >> could have a lot of fun on this property. >> absolutely.
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>> it's a cowboy's dream. but what really makes this place special is what's buried out back. so i asked realtor lori cedarstrom to show me around and take me underground. so, lori, you're gonna show me something very unique about this property. sort of from the outside, a little like a log cabin. but when was this built? >> this was actually brought to the property in the late '60s. >> let's go take a look at this, lori. >> all right. >> oh, my goodness. what the -- really? >> it's exactly what you think it is. >> the home was built in the late '60s. and three vintage train cars were buried by the original owner to be used as a bomb shelter. >> it was during the cuban missile crisis. the original doctor that owned the property had these three santa fe railroad cars brought up school house road and placed on the property.
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they were then covered with dirt. and a tunnel from the main home out to the boxcars was put in place. >> they have since been converted into the ultimate man cave, with their own plumbing and electricity. >> they're now set up as an entertainment system. so you can come in and have a drink, play some games, maybe play the drums after a long day's ride, and just enjoy yourself. >> there's a bar, a bathroom, a ping-pong table, and even a performance area for a small band. this must have been just one wall, i'm assuming. and then they did -- they cut it out, do you know? >> correct. >> it's the original boxcars. they just did some -- what they're gonna call improvements. >> exactly. >> and here we can see the actual cargo door, the steel cargo door. >> original door. >> this, you told me about, is amazing. so if we take these out, look at this. original rails, fantastic. >> the original person that brought the cars here did the kitchen area. so you can see the bunks up here,
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he did a sink and a prep area so that he could make his food. the current owner's son is a builder. so in 2005, they decided to make something a little bit different and fun with this. so they renovated the house. they added the four bedrooms and the four baths. and then they brought this space in to use as kind of a fun space, where everybody could gather at the end of the day. the third boxcar houses the drum set and the little bar, as well as the bathroom. >> let's go take a look in here. >> okay. it's my favorite room. >> oh, yeah. this is the part of the man cave that everybody would enjoy. >> yes. >> look at this, an old bar, red, white, and blue. in 2010, the main five bedroom, five bath house underwent a $1 million renovation and has been used as a bed and breakfast. >> it does have four really unique bedrooms down on the bottom with -- each has its own bathroom, its own patio, and jetted hot tubs. >> you know what's amazing is once you're in here, i mean, you forget really where you are
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because they made it user-friendly and a fun place. >> it is a fun place now. >> this had to be so much fun for people to come to, insofar as a bed and breakfast, because basically they could just come in here and have a good time. they had ping-pong tables. they got the hockey game. they got a place to use the restroom. they got a bar. they got a place to bring, you know, music, kitchen. it's -- it's full service from pillar to bedpost. >> exactly. but this is not your five-star hotel. so you can -- >> no, it's not. >> ...walk in, dust off your boots and spurs, and just have a good time. >> yeah. exactly right. you're not worried about bringin' dirt in from the outside. >> no. the cowboys would come in, a long day's ride off the trail. this is where they enjoyed their time. >> what's interesting is this -- these cargo boxes in the day were really not visible to anybody. is that right? >> that's correct. this is the original tunnel that led from the home to the boxes. it wasn't a tunnel that you could walk through. it was simply one that you crawled through. it was very small. so crawling that distance was a little bit scary for most people. this was all covered in dirt. but in order to utilize
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the property a little bit better so everybody could enjoy it without crawling through the tunnel, we've taken the dirt away. >> looking at these boxcars, it is impossible not to feel the history of the old west surrounding you. >> if you're looking for a unique experience, and you're just tired of the daily grind of the city, come on out to cave creek, arizona. this will be one of the most unique experiences you could ever imagine. >> up next on "the property man," we'll take desert living to the next level and go inside the scorpion house here in the arizona desert. [ woman vocalizing ] ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels
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but we're always on the lookout for those that truly stand out. and we did find one. it's called the scorpion house, located here in north scottsdale, arizona. >> the house is just under 5,000 square feet, four bedrooms and four and a half baths. and it is listed for $5.5 million. >> i asked realtor jay pennypacker to show me around. so, jay, tell us a little bit about this house. >> the timeless materials of this house with the concrete and the oxidizing titanium panels, the glass, they all age in a modern fashion to create a patina that just lasts forever. >> it got the name the scorpion house because of the way the site is laid out. >> to protect the sonoran desert and to have these beautiful views, each lot in this community has a designated building envelope. >> there must be at least 30% open space. and you can't disturb certain things like ancient boulders and arroyo. >> they almost had to place the house in and over this arroyo, which we're walking on over the bridge,
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'cause when it rains, water flows down here like a creek. the architect met with the owners and started drawing the house on the lot on a napkin. it began to take the form of a scorpion. and they just went with the idea. >> although the property is extremely modern, it somehow manages to also blend into the natural desert that surrounds it. >> what's great about the house is the outdoor materials continue inside. so it's a seamless blend of limestone, titanium, oxidized zinc, glass, and steel in a modern form. >> the whole house is built elevated above the desert. and the office, which has a glass floor, floats above a watering hole where deer and other animals come to drink. >> one of the unique things in the house is the cabinetry in the kitchen. >> the color is ferrari red. now look. i don't mean that it's just, like, the shade of red. i mean that actually they got the paint from ferrari.
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the central point of the house is the pool, with everything, like all of the limestone flooring, flaring out from the middle of the pool. >> the pool is the centerpiece of the entire design of the house. it's a elevated concrete bowl. and all of the elements flare out in a radius that circle the whole pool. so anyplace you're in the house, you can look right down a line to the middle of the pool. every grout line of limestone on the house, every seam on the butt-glazed glass windows, every door, everything lines up with the middle of the pool. >> floor-to-ceiling glass walls provide not just breathtaking views, but also bounce the natural light off the geometrically positioned limestone floors. this door is very, very unique. >> continuing with the curvilinear nature of the house, the door itself is a curved piece of glass that is shaped around the pool, just like the rest of the house. >> the view is really spectacular, unobstructed -- completely unobstructed. >> we have endless sunset and city light views here. this is a great community in north scottsdale called estancia.
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probably, in my opinion, one of the best pieces of property in all of north scottsdale because the property is located on three sides of pinnacle peak, which is a landmark mountain in the community. so you have unbelievable views of pinnacle peak. >> this is true desert living. and the old saying is true. location, location, location. north scottsdale has the perfect blend of rural beauty with modern amenities. is this a low-maintenance home? >> all the materials you see, you don't have to maintain them at all. >> the home is built out of poured concrete, glass, and oxidized titanium panels. they are meant to age gracefully in the desert. >> you want the aging and the patina of these materials, rather than a wood and stucco. you just let it age with time. and the color and the form it takes in this harsh environment is what you want it to look like. there's a lot of poured and placed concrete here. and it's usually pretty easy to do poured and placed concrete when you do it straight. but the back of the house is a completely poured-in-place
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curved concrete wall that frames the curvilinear nature of the house, all focused on the center of that pool. >> if the main house is not enough for you, don't worry. there's a full guest house, as well. >> you reach it by a bridge over the arroyo. and the guest house has a living room with a fireplace, a full kitchen, and two bedrooms with their own baths. in addition, there's an outdoor kitchen for guests. >> i saw a boulder that's literally right up against the glass in the kitchen. >> those are ancient boulders that cannot be disturbed. >> this is not just a nice house in the hills. it is truly a piece of art. up next, in the massi memo, we're gonna talk about retirement and what you need to look out for. [ woman vocalizing ] what would it look like... ...if we listened more? could the right voice, the right set of words, bring us all just a little closer,
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and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. is important to me so father being diagnosed with advanced non-small cell lung cancer made me think of all the things that i wanted to teach my kids. (avo) another tru story with keytruda. (roger) my doctor said i could start on keytruda so i did. with each scan things just got better. (avo) in a clinical study, keytruda offered patients a longer life than chemotherapy. and it could be your first treatment. keytruda is for adults with non-small cell lung cancer that has spread... ...who test positive for pd-l1 and whose tumors do not have an abnormal "egfr" or "alk" gene. it's the immunotherapy with the most fda-approved uses for advanced lung cancer. keytruda can cause your immune system to attack normal organs and tissues in your body and affect how they work. this can happen anytime
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during or after treatment and may be severe and lead to death. see your doctor right away if you experience new or worsening cough, chest pain, shortness of breath, diarrhea, severe stomach pain or tenderness, nausea or vomiting, rapid heartbeat, constipation, changes in urine, changes in eyesight, muscle pain or weakness, joint pain, confusion or memory problems, fever, rash, itching or flushing, as this may keep these problems from becoming more serious. these are not all the possible side effects of keytruda. tell your doctor about all your medical conditions including immune system problems, or if you've had an organ transplant or lung, breathing, or liver problems. (roger ) before i'd think of the stuff i might miss. but now with keytruda, we have hope. (avo) living longer is possible. it's tru. keytruda, from merck. ask your doctor about keytruda.
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♪ >> welcome back. i'm bob massi, "the property man." and it's time for the massi memo. we talked earlier about retirement, which is something a lot of us are having to think about sooner than we'd like to admit. now planning for retirement is not just about money, although that's important. you really need to evaluate where and how you're going to live. this means understanding the type of lifestyle you really enjoy. do you want peace and quiet? or do you want to be in the middle of a lively community? surrounded by other retirees, or people of all ages? sort all of that out. and then it's time to figure out your budget.
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now most retirees are on fixed incomes. and people are living longer than previous generations, which is a good thing. but that means making sure you have enough saved for the long haul. remember to calculate expenses like hoa dues, your taxes, your insurance, plus things like travel and, of course, medical bills. once you have a real sense of what you can afford, only then should you settle on your retirement home. we've got time to answer a viewer e-mail. now gloria writes in, "i'm a 76-year-old widow with very little cash. unfortunately, i'm gonna be running out of money within the next couple of years. at the moment, i am relatively healthy. however, my biggest fear, that should i choose to go with a reverse mortgage, i may at some time go into a nursing home. my general question is, what happens in that case? my only living relative is a brother. i know that he and his wife have no interest
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in my condominium. however, i'd like to have the proceeds go to them should i pass. i have no intentions of ever moving, and selling is not an option." first of all, please seek out what we call an elder law attorney. they specialize in this area of the law. and that is, what can you protect if you go into a nursing home? on a reverse mortgage, remember, there's no recourse against you or your estate if something happens. my concern is, if in fact the house is sold, and you're in a nursing home and you're on some type of state aid paying for that, you may have to spend your money down. and then the medicaid, in fact, you would be eligible for again. that's why go see an elder law attorney. let them advise you what is best and what's good for you and your family. that's all we have time for today. be sure to send me your property stories, questions, or pictures of your property bloopers. send them to propertyman@foxnews.com. and don't forget to check us out on facebook and twitter.
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there's also plenty of information and video on our website, foxnews.com/propertyman. i'll see you next week. [ woman vocalizing ] >> his dream? big as a t-rex. >> when everybody else told him he was crazy, he just said, "no, i'm gonna build dinosaurs." >> his creation? a land before time. >> he was almost an engineer when it came to dinosaurs. >> can it survive without him? >> a lot of attractions that were the vision of a single person, all of a sudden they're gone, demolished. >> depends on his daughter... >> when you have an absolute passion, you think that other people feel the same way you do. >> his granddaughter... >> are you living on the edge, kiki, to make this all happen? >> a little bit. >> and his great-granddaughter. >> has your mom ever said, "we need to talk about the future of the park"? >> never. [ door creaks ]
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