LIFE WITH MIKEY

Unemployment is low and people are working, but Americans now carry about $1.26 trillion in credit card debt. So what's really going on?

On this episode of Life With Mikey, Mikey Taylor and Michael Michalov look at the numbers behind America's credit card problem. They ask whether it's a money problem or a social one. They cover the rise of the "fake rich" economy, where people spend to look successful online. They also talk about older Americans on fixed incomes who are getting squeezed by rising costs, and why both groups end up in the same place.

We believe wealth can be built quietly. That means spending less than you make, building margin, and thinking like an owner over the long term. This conversation is about how to do that, whatever stage of life you're in.

In this episode:• Why credit card debt is near record highs even with steady jobs• What 90+ day delinquencies tell us about the household squeeze• The "fake rich" economy and the pressure to look wealthy online• What a 22% interest rate really costs you each year• The "K-shaped" squeeze hitting young and old at the same time• Why the wealthiest person in the room is often the hardest to spot

Chapters:00:00 – $1.26 trillion in credit card debt01:58 – People aren't paying their bills03:06 – Jobs are up, so what's wrong?04:28 – Are we headed for a recession?06:50 – Gen Z and the "fake rich" economy10:16 – What 22% interest really costs you12:16 – Older Americans on fixed incomes14:10 – The K-shaped squeeze15:22 – The quiet millionaire18:02 – How to build margin21:37 – Can you save your way to wealth?23:02 – What are you experiencing?

A new survey says 70% of American adults have delayed or changed a major life decision because of housing costs. Marriage. Kids. Vacations. All on hold.

In this episode, Mikey Taylor and Michael Michalov break down what is happening in the housing market and why the path to your first home may look nothing like it did for your parents. In 1991, the average first-time homebuyer was 28 years old. Today, that number is closer to 40. In markets like LA and San Diego, housing costs can approach a household's entire income. You can't budget your way out of that. So what do you do instead?

Mikey and Michael dig into who is buying homes right now, why the market feels frozen, and the mindset shift that can help put you back in control, building ownership through disciplined saving and investing while you rent, instead of putting your whole life on hold for a down payment.

In this episode:

• The survey: 70% of Americans are delaying life decisions over housing

• Why the average first-time buyer is now almost 40• Who's really buying homes — cash buyers vs. family-funded down payments

• Could a wave of inherited homes reset prices?

• Should you delay kids and marriage to buy a house?

• Rethinking the American Dream: opportunity over ownership

This content is for educational and informational purposes only and should not be considered financial, investment, tax, or legal advice. This is not an offer to sell securities. Always consult a licensed professional before making financial decisions.

Many buyers are waiting for mortgage rates to drop. In this episode, Mikey Taylor and Michael Michalov explain why that wait could last a lot longer than you think.

They break down where rates stand right now, why the 10-year Treasury, not the Fed, is what can determine mortgage rates along with other market conditions, and how the national debt is high borrowing costs. Then they get into the housing market itself: a standoff where sellers locked into low rates are less inclined to sell, and buyers priced out by today's payments hold off to buy.

If you're renting, saving for your first home, or trying to make sense of this market, this conversation gives you a picture.

In this episode:

• Where mortgage rates stand right now and why they're not moving

• The 10-year Treasury

• How $40 trillion in national debt affecting mortgage payments

• The rent vs. own math that's keeping buyers on the sidelines

• What to consider if you're waiting to buy your first home

Eight California counties just lost control of their own zoning and residents may have no idea it happened.

In this episode, Mikey Taylor and Michael Michalov break down SB 79, one of the most aggressive transit-oriented housing laws in California’s recent history. The two unpack how the state took zoning power away from local cities, what it means for the housing shortage, and how some real estate investors are responding.

In this episode:

• What SB 79 does and the counties it affects

• How the Builder's Remedy forced cities into a choice

• Why Orange County's legal fight against the state failed

• The zero-parking problem

• Institutional money vs. mom-and-pop investors: who can actually build under this law

• Does more vertical housing turn California into a renter state?

This content is for informational purposes only, is not offered as investment advice and should not be deemed as investment advice, and reflects the opinions and projections of COMMUNE as of the date of publication, which are subject to change without notice at any time subsequent to the date of issue. COMMUNE does not represent or warrant that the information presented in this message is accurate, current, or complete or that the estimates, opinions, projections or assumptions made in the message will prove to be accurate or realized.

Certain statements reflect projections or expectations of future financial or economic performance of the project.  Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct.  Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or the project’s actual performance. Past performance is not an indication of future results.

This content does not constitute an offer to invest and such offer will only be made by means of an offering document that should be carefully reviewed before determining whether to invest. As with any investment there is a risk of loss, including up to the amount of investment.

Neither this message nor its contents should be construed as legal, tax, investment, or other advice.  Individuals are urged to consult with their own tax, legal, and investment advisers before making any investment decision

$875 billion in commercial real estate debt comes due this year.

In this episode, Mikey Taylor and Michael Michalov break down the "maturity wall": why loans made during the low-rate years of 2021–2022 are now coming due into a completely different market, why even some stabilized properties are being handed back to banks, and the four moves operators can consider when their loan matures. They also share why moments of fear in the market have historically been when some  long-term investors pay the closest attention.

In this episode:

• What is the $875 billion maturity wall and its breaking point?

• How a stabilized property can end up worth less than half

• Why CMBS delinquencies just hit a nine-year high

• The four options an operator can evaluate when a loan comes due

• Why "waiting for the bottom" usually means missing it

• How regulators are handling distressed loans differently than 2008

This content is for informational purposes only, is not offered as investment advice and should not be deemed as investment advice, and reflects the opinions and projections of COMMUNE as of the date of publication, which are subject to change without notice at any time subsequent to the date of issue. COMMUNE does not represent or warrant that the information presented in this message is accurate, current, or complete or that the estimates, opinions, projections or assumptions made in the message will prove to be accurate or realized.

Certain statements reflect projections or expectations of future financial or economic performance of the project.  Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct.  Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or the project’s actual performance. Past performance is not an indication of future results.

This content does not constitute an offer to invest and such offer will only be made by means of an offering document that should be carefully reviewed before determining whether to invest. As with any investment there is a risk of loss, including up to the amount of investment.

Neither this message nor its contents should be construed as legal, tax, investment, or other advice.  Individuals are urged to consult with their own tax, legal, and investment advisers before making any investment decision

There is $19 trillion sitting in American retirement accounts and approximately 1 in 5 of those accounts isn't invested in anything. The money is in cash, and those people may not know.

In this episode, Mikey Taylor and Michael Michalov break down what some don’t realize they do with their 401(k)s and IRAs. From the 100% matching  employees may be leaving on the table, to the Roth conversion strategy Mikey used the year he started his company, this is the retirement conversation you may not have had before.

In this episode:

• The $19 trillion problem

• The Vanguard study: most people sitting in cash don't know they are

• Max the match: the closest thing to “free money” people ever get?

• Roth vs. traditional — where do you want to be taxed?

• The Roth conversion move (income limits don't apply to conversions)

• IRA diversification beyond the stock market — real estate and private markets

This podcast is for education only and is not financial, tax, or legal advice. Talk to your own advisor before making any moves.

Here's the part you may not know: if you never write down what happens when you die, the government already wrote it down for you.

In this episode, Mikey and Michael break down estate planning without the legal jargon, what a trust actually does, why a will is only part of it, and the one mistake that can make the whole thing worthless. If you have kids, this is not about money. It's about who raises them, who speaks for you, and who gets to make the hardest decisions of your life if you can't.

This isn't just a wealthy-person conversation. In a typical year, more than 99% of Americans will never owe a dollar of federal estate tax. That's not the point. The point is control — over your kids, your health, and your family's peace.

In this episode:

•  The 4 questions your estate plan answers (and what can happen when you don't answer them)

•  Why some people set up a trust and never actually fund it

•  Who raises your kids if you're gone — and why the court's answer may not be yours

•  The difference between a trust, a will, a power of attorney, and a health care directive

•  The conversation with your spouse that nobody wants to have

•  How often to revisit your plan (and the client who hadn't touched theirs in 20 years)

There's an invisible economy cooking. Almost half of Americans earned side hustle money this past year, and most of them are still trading time for dollars.

In this episode, Mikey Taylor and Michael Michalov break down the ladder from side hustle to business and the three levels of making money, and why people never get past level one. You'll learn when the IRS technically considers you a business (it's a lower number than you may think), how to set up your entity without overcomplicating it, when to consider your first hire, and how to potentially build a company that pays you even when you step away.

They also get into the AI question everyone's asking: do you even need employees anymore  and what's the single best money opportunity on the table right now?

What we cover:

• The real numbers behind the side hustle boom (27%–47% of Americans)

• Hustle vs. Business vs. Asset — and how to graduate between them

• The $400 threshold that makes you a business in the eyes of the IRS

• Sole prop vs. LLC vs. S-Corp — and what it actually costs per year

• The 70% rule for your first hire and the 60% rule for building systems

• Why an AI integrator might be the best business to start today

Foreclosures just spiked 21% and everyone is asking the same question: is this 2008 all over again?

We pull the curtain back on the scariest housing number of the year. You'll learn why 230,000 foreclosure filings is still 87% below the last crisis, why today's problem is carrying costs not bad credit and which loans are actually first in line to go underwater. Plus: the debate that had to be settled live with data (let us know in the comments who won).

In this episode:

- Delinquency vs. foreclosure vs. short sale. What each one really means

- Why 2008 was a credit crisis and 2026 is a cost squeeze

- The COVID forbearance backlog finally hitting the numbers

- The 4 states getting hit hardest right now

- How investors buy pre-foreclosures at 70–80 cents on the dollar

Cities across the country are voting no on data centers and people may not know what they're actually voting on.

In this episode, Mikey Taylor and Michael Michalov break down an asset class that has recently drawn controversy. It’s not necessarily the buildings. But the power. You'll learn why a data center lease can end up looking similar to a Walgreens lease, why the same building can carry completely different risk depending on who's inside it, and why nearly $700 billion is chasing this asset. Then the conversation turns: is America's AI race the path out of our debt problem or the biggest bet we've made?

What we get into:

• Why the real estate is the lesser important part of a data center

• The three tiers of data centers and which are fought about

• Why operators are building their own power plants

• Whether AI is America's only way out of the debt burden