Transcript for From the Housing Rebound to America's Latest Obsession With Yoga
Hello and welcome to real -- I'm Rebecca Jarvis here in New York City here's what's on our radar today developers are banking billion. Land in America and new homebuyers are paying with cash also America's obsession with yoga. And it should you bet your hard earned money on financial pundits on TV a new book says. Be aware of that expert advice -- want to get right to -- low interest rates are creating a treasure trove for real estate developers. Multi billion dollar properties are popping up all over America and get this some of buyers a lot of them actually -- paying with cash. My next guest is none other than David Weinrich -- CEO of the Howard Hughes corporation ticker symbol. Is HHC. And your stock is surging it's up almost 50% in the year David. Tell me. What's the outlook. Not just -- -- stock -- have to go there but for the overall market. Well thanks for having me today. We're very pleased with where the markets are right now. As I mentioned to you when we were talking earlier we've got one of the more prolific master planned community businesses in the country. With land in Houston at the woodland slammed in Las Vegas. And some Roland and then are very very exciting project in Honolulu -- village. Yes Honolulu the -- projects that you take -- -- their way. What markets do you like best right now for real estate obviously the -- one of them. Hawaii we like again Houston's been very strong. Nevada surprisingly has come back -- a big way. And of course New York we've got big plans for our seaport district. About Honolulu I mean besides the fact that people like to go there on vacation what is it about Honolulu that makes Hawaii attracted to you. Well first -- in the middle of the Pacific it's a gateway. Market from Asia. And it's a great spot for people from the West Coast to go. On vacation to have second homes and this property that we own and -- -- -- is very unique sixty acres. Right next to -- on -- mall which is one of the great shopping experiences. Where we recently got. Entitlements to build over nine million feet vertically so -- we typically build. Our housing on a horizontal line we're building here vertically and -- it's all said and done over the next decade we'll have about 4000 condos. On that site in about 22 buildings. Over a million square feet of retail. And some other uses as well. Our viewers -- getting -- taste of these pictures that that looks stunning some of the re creations of what -- -- look like when all is said and done thank you should Houston. I heard now from a lot of people in real estate -- this market keeps coming up what's what's driving that. Well the woodlands is really unlike any other master planned community anywhere in the world we actually have. Over 50000 people that commute into the woodlands daily which is very usual typically when you have a master planned community people -- living there commuting out to work. In this case we have over seven million feet of class -- office space. With a 1% vacancy rate so it's very unusual to to have this much office. In an area where. People are are living. So they're able to work and potentially walk to work. From their houses which are very -- work. Playing live and have an environment related sustainable. When it comes to -- to the investments that you're looking at in real estate what are some of the biggest things for anybody to think about out there whether they're buying a house or there. Investing in real estate stocks what is important metrics that you're looking. Well again getting decked -- Hawaii I think that this is a great example we try to do things on a scale. To create opportunities that other people can't compete with. So in this case we're gonna have 22 buildings were bringing in world class architecture from all over the world. We actually recently converted a six story office building to our sales centering gallery and created a sales experience that's. Completely unique not just to Hawaii but anywhere in the world. We you can go and actually see the -- that that you can buy. And on multiple floors we've created alumni. On the seventh forces people to really experience what it was like -- to be in their units. Looking out the ocean and all the other beautiful I think she'll have looking -- -- It's what some people -- the -- -- -- real estate porn because it's you just want to look at it it's so stunningly beautiful. Bill actually huge fan of your company big investor in your company. And wonder in terms of your outlook overall. What if it -- in the future the next ten years of the real estate market and in particular the US domestic real estate market what -- -- Look it's hard to predict. A long time into the future we believe that if you on the best properties. The best assets and a market that they'll always be runway. And if you look at places like the woodlands even. When times were depressed we were still selling land to -- because people recognize that there was a limited supply of it. So I think if you've got best of class assets like we do in Houston. In Honolulu. In Las Vegas you're creating -- demand that. In some ways is protected by. Economic. Swings. David what are we really appreciate it. Thank you for having the CEO Howard Hughes corporation makes have a great wolf I think the latest American obsession -- Right now more than twenty million of us are getting ready for a little outward facing -- This year the 5000 year old practice will become a thirty. Billion that is billion with a B. Dollar business here to explain why the world is of -- to with yoga is Kate Clinton -- -- she is the lead trainer at here -- -- it is so nice to have you thank you so much to be here. I love you got yourself voice you have -- -- Is that part of the whole thing it is and it's also a little bit of allergies from the beautiful. Central Park that's coming alive right now. -- I have to admit I -- -- your studio actually oldest remember that's not why we had to here but I am a member in case was doing research on that. And one of the reasons I joined it was the dead of winter at an average and you before. It was the dead of winter I was so cold I joined because of the hot yoga classes I guess I don't want way to get more -- that richter was to do -- And did you love it I think it took some time this is the thing about you for people -- you do it means it takes some time because it's a totally different -- and high intensity work -- at least in the began. For shore and just even starting today to get comfortable on the hot room it's. It to destroy yourself right into the fire -- they're going to the hot classes. It's quite bold if you've never done yoga before. Well I decided to people that I what -- it -- -- look what I think is driving this new obsession. What you I don't think it's a new obsession I mean it's it's ancient practice and admit I think simply it's because it works and more and more people. Are seeing the lives of their friends who have been doing over three years then -- and try it and and make it a part of their lives. We are seeing no let me -- it's definitely of course people been practicing it for awhile. But how -- -- studios in cities like new York and I'm from Minneapolis it's even happening in Minneapolis I've seen it in Chicago. -- on the coast. They're popping up like start. It's funny I just came from Honolulu and -- time -- first yoga class in Honolulu thirteen years ago I lived there for ten years. And it was only really one yoga studio is just to pick from in the studio and going there over the years as -- go back to -- three times a year. The amount of studios that. Is on the island of a -- now is amazing. You know there's probably forty. -- you know thirteen years there was only two so I choose the right -- for nothing the -- one. You have to think about what your goals are. For what you really want to achieve from the practice. And if you're more athletic and if you wanna in the -- -- you want it to be a really great work out. Then hot. -- -- -- will be right up your Alley. Hope for that your heart out. For -- and what about more athletic during focusing get -- out of social media for thirty an area where he could do meditation class you know puree although we. Our philosophy -- many practices one intention. To we have a whole. Beautiful. Array of -- that that we offer but often times their. For the general public if there in Minneapolis -- if -- in. Honolulu the there'll only be one type of -- at the studios here to look at what type of -- you wanna do if you want we're centering. Then maybe a meditation class or a restorative class -- union class. And if you're a little bit older or if you just want to learn more about the alignment. I and our -- is wonderful we have a role -- the studio. He -- chairs and props and really get yourself. Into the -- with refinement. Of the postures Vegas Smith a value that is. Biggest myth about yoga is -- yet to be flexible to -- yoga. Well works for me if I'm not flexible -- -- resident our I take it thanks so much for joining us yeah pretty and very much -- -- that. -- -- -- -- -- that -- twists and turns of your money. For -- knew who are getting back in the market after the Great Recession. There is a lot of advice on TV it's a lot of noise actually online. But the question is can -- trust what you hear how what are the tips from all those pundits and experts well there's a new book clash of the financial pundits. It is tackling that very subject. And it reveals some shocking secrets of financial pundits. I want to bring in the author Jeff MacKey is host of break out on Yahoo! finance and he wrote the book based on his experience as a financial pundit on CNBC. Back then that's when we cross have it's great to have you with us Jeff. It's nice to see you're back you're looking very very -- very yoga like I is that you I don't there's but it day in your life where -- been Jeff. Now I'm not a particularly zen guy -- heads the -- on this financial stuff. People will spend more time Google in what novice stage means that may well picking a stock based on what some Dieter TV is saying when there's a bull market began a slow start to their resurgent -- that this statistic you can market up this. And -- that's really kind of a message of the book is it's a behind the scenes look. At what the financial -- entry industry is it's a business and it's not necessarily aligned with making the folks at home money that doesn't make it evil -- make information bad. It just means folks have to go -- know how to use and we told the story. -- the coauthor Josh Brown. About it kind of -- financial plunger came to be about the industry as a whole in the entertainment aspects -- people pick their own stock to manage the money. Jeff not just saying this because your guests and you're an old friend of -- -- your I genuinely a really Smart Smart. Well researched guy. Why does super good point I cannot examine capturing -- -- of all things in the world because you could write about a lot of things why choose this particular topic. I think -- it's the importance of the industry ICI I've run money professionally run for myself -- for other people. And I see people and just throwing away assets that they don't need to. I think that -- they've been sold kind of ally in the sense that managing money is not something necessarily that you should be doing at home you can't be. On a competitive basis you have to understand this. Because your financial future depends on her back and and. We -- you and I both -- we -- both have a roots and financial television. We've seen people take this otherwise incredibly useful tool this this ability to get information that was was held secret for so long. And they misuse of me abuse at any given to their base gambling instincts and made they've really makes financial Dan -- and I think this is a way to help people. And it's something that -- it's a bit of a personal journey for myself and is something that -- I hope we can help people. Both improve themselves kind of in a spiritual yoga like way and also financially. What is the reason why I think actually you know you look it where investment has gone. So much before the Great Recession most people -- in the market now only half of Americans have their money in the stock market. You you mention getting burned but there's also this sense of the game is raped. The game is rigged and it's always been -- -- they've stock murder we'll turn to 125 years old this year. It's been rigged from inception to people who have more information and to try to balance -- also understand that. That doesn't necessarily make it evil it just means that people who have more information are going to be making the most money it's a full time job to be an investor. And -- had to stay out of those penny stocks to stay out of the three card Monte type of ideas. And to get rich slow if -- may paraphrase Jim Cramer -- an excellent interview in the book. It it's it's a process that it's a learning experience rather -- -- just this game that people should be playing in and trading and whipping around their stocks at home. And I really think that it needs to be exposed so people understand it more it's not -- scary once you actually get into it. But the idea that that market is -- is neither news nor something that -- prevent you from getting involved. So what do you think what's the first thing for somebody who was hearing this for the first time for new (%expletive) What's the first thing they should do to create a batter. Planned for themselves financially. Well I think they should first of all of their -- omen for end of my advice is always see a professional NC financial -- and and understand that industry but if you're just someone who watches this stuff at home. It's you can't do enough research you can't possibly watch this and and learn enough about the companies involved it's a starting point we hear some guy like -- is evil I love Apple Stock and -- long Apple Stock I think it's going higher. That's not me telling you to buy it I'm not making a giant -- trick for you to go out and click your computer and buy stock. What I'm doing is giving an idea. And from very you go on and you recognize that this is your personal portfolio to nest egg you're trying to build over time you understand the industry. You understand profit margins you get to know. How business and industry works rather than just -- -- these blind bats based on tips tips -- for waiters always stick your waiter and never -- Stockton says there to the exit to just keep -- part of the book Jeff also part of your spiritual journey. The comeback for you personally. Idea that's been got a good strains of roads you have to -- kind of edge it's -- we've -- did you ever added I think 18100 years or so given I think -- -- -- at any quick melt down is showing right now by the way -- really active well there you go that's that's a little slice -- know it adds. It's a little bit about just kind of going -- with your life and and I have. Been up and down and and really rebuild myself over the last few years stripping away a lot of things that -- I had associated with the success over time. It really isn't about that I've had toys about houses those things are not really where you need to be money doesn't buy you happiness but money is fantastic have it's the toys that get in trouble Rebecca. And I think this spiritual journey to people around you and -- recognizing that. Every -- is a chance to sort of advance yourself collectors often and hopefully. Fines and happiness and something other than the idea of getting a new car that's shaped you know that giant phallic symbol type of representation of your net worth in yourself and go inside and understand yourself as a human being -- on the net or the last 56 years. Israeli it's been somebody wanted to share with folks out there just who maybe have -- -- right now -- are on their own journey. And face and sums and men in a position they never really thought they'd find themselves -- Jeff really glad you were able to join us today to share some of that journey the book clash of the financial pundits available now for sale Jeff. We really appreciate it and -- you for sharing the journey with us also wishing you all the best on the journey. Not mustang now must stay baby they -- you for joining us burial is we want to hear from you are you look fan of -- And what's your favorite yoga studio between is that real -- with RJ until next time. This is Rebecca Jarvis for -- --
This transcript has been automatically generated and may not be 100% accurate.