Part 6/8:
The conversation further evolves to the influence of artificial intelligence (AI) on employment, particularly in the mortgage sector, which may see up to 99% of applications processed by bots in a mere 18 months. This shift hints at a broader trend across various industries where automation is poised to take over many job functions, raising questions about the future of the workforce.
The Classic Real Estate Market
Touching on the real estate market, Dan shares the story of Michael Jordan’s coveted estate that struggled to find a buyer for over nine years before finally selling at a significantly reduced price. This case exemplifies the volatility plaguing the luxury real estate sector, which has also been impacted by economic uncertainties and changing buyer sentiments.