Latest / The Ben Ferguson Podcast / Americans Need to Earn 80% More than They did in 2020 to Afford a Home in Today's Market!

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Americans Need to Earn 80% More than They did in 2020 to Afford a Home in Today's Market! · The Ben Ferguson Podcast

0:01
Speaker 1: There is a lot going on with our economy right now,
0:04
Speaker 1: and it's not just financially. It's also the strain that
0:08
Speaker 1: is being put on our economy when it comes to
0:11
Speaker 1: legal immigrants coming across the southern border, and it is
0:14
Speaker 1: making the prices of not just goods and services skyrocket.
0:18
Speaker 1: But mostly where people are feeling it the most is
0:21
Speaker 1: in home prices.
0:22
Speaker 2: Now.
0:22
Speaker 1: A couple of days ago, I talked about this warning
0:26
Speaker 1: with you that Americans now need more annual salary than
0:30
Speaker 1: at any other time in the history of this nation
0:34
Speaker 1: to to afford a medium price home.
0:40
Speaker 2: How much is it up a staggering amount.
0:43
Speaker 1: I'm going to tell you about that in a moment,
0:44
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2:12
Speaker 1: Let's get back to what I was talking about a
2:13
Speaker 1: second ago with home prices and how bad it is
2:15
Speaker 1: in this country. Now, this came out a couple of
2:18
Speaker 1: days ago. Did Americans now need an annual salary of
2:24
Speaker 1: more than one hundred and ten thousand dollars to afford
2:27
Speaker 1: a median price home. Now, it's not just that's one
2:31
Speaker 1: hundred and ten. I want you to understand what it
2:33
Speaker 1: was back in twenty twenty. So this is four years ago.
2:37
Speaker 1: It was just seventy five thousand. So you're gonna have
2:41
Speaker 1: to make basically forty thousand dollars more to afford the
2:44
Speaker 1: same home that you could afford in twenty twenty when
2:49
Speaker 1: Donald Trump was leaving office. Now, to put into even
2:52
Speaker 1: more perspective, Jerry Willis Fox Business, dear friend of mine,
2:56
Speaker 1: gave the report just to give you even more perspective.
2:59
Speaker 1: Listening carefully, because then I have more information about what
3:02
Speaker 1: this is doing to younger home buyers.
3:04
Speaker 4: Listen, the average home buyer needs to make over one
3:07
Speaker 4: hundred and ten thousand dollars to afford the average home.
3:11
Speaker 4: A new bank Rate study showing that the required salary
3:14
Speaker 4: to make that purchase has jumped forty six percent in
3:17
Speaker 4: just four years.
3:18
Speaker 1: Now, let me just hit pause there and ask you
3:21
Speaker 1: this question. How many of you listening have had your
3:23
Speaker 1: salary increase by forty six percent over the last four years?
3:29
Speaker 1: Forty six percent. Now, I know people have gotten raises. Okay,
3:32
Speaker 1: I saw a lot of people get raises. I gave
3:34
Speaker 1: raises over the last four years, especially when you're trying
3:37
Speaker 1: to get people to work during COVID and things changed.
3:40
Speaker 2: But I don't know anybody that got a forty per
3:42
Speaker 2: six percent raise on average.
3:44
Speaker 1: Now, there's some that did, right like, I'm sure there's
3:46
Speaker 1: some of you that listening right now that you've got
3:48
Speaker 1: a promotion or you went to work for yourself and
3:51
Speaker 1: things are going well right now and you're making forty
3:53
Speaker 1: six percent more than you were in twenty twenty. But
3:55
Speaker 1: I'm asking for a whole of the country. How many
3:59
Speaker 1: average workers that work nine to five jobs, that don't
4:03
Speaker 1: own their own business, that are working for someone else
4:06
Speaker 1: got a forty six percent raise in the last four years.
4:12
Speaker 1: That doesn't happen for the average American. It can happen
4:15
Speaker 1: for maybe one percent, two percent, three percent, I don't
4:17
Speaker 1: know what the number is, but it's not the majority
4:19
Speaker 1: of Americans. And you would need ninety percent Americans to
4:23
Speaker 1: average a forty six percent increase in their salary over
4:26
Speaker 1: the last four years. Now here's the other part that
4:28
Speaker 1: you need to understand. If you look at the average
4:30
Speaker 1: salary to afford a medium home in this country. Back
4:34
Speaker 1: in twenty twenty, it was seventy five, nine hundred and
4:37
Speaker 1: thirty nine dollars. That's what you need to make a
4:39
Speaker 1: year to be a homeowner and a median priced home.
4:42
Speaker 1: In January of this year, you need one hundred and
4:45
Speaker 1: ten thousand, eight hundred and seventy one dollars to afford
4:47
Speaker 1: the same home. Now, let's look at home prices. Okay,
4:50
Speaker 1: so not only do you need to make forty six
4:52
Speaker 1: percent more to move into that house, but the average
4:56
Speaker 1: home price is up now forty two percent.
4:59
Speaker 2: So what is it? Median? This is middle of the
5:01
Speaker 2: road home.
5:02
Speaker 1: This is kind of home ownership for you and a
5:05
Speaker 1: family maybe one kid, possibly two. All right, like as
5:10
Speaker 1: you're growing, this is the middle of the road medium
5:12
Speaker 1: priced home.
5:13
Speaker 2: Do you know what the number is now? In this country?
5:15
Speaker 1: It will now cost you over four hundred thousand dollars
5:19
Speaker 1: to own that home. Now that used to be a
5:21
Speaker 1: dream home in the past, not anymore. That's medium. So
5:25
Speaker 1: it costs now more than ever just to get an
5:27
Speaker 1: average house, and it cost you a salary that had
5:30
Speaker 1: to got forty six percent since twenty twenty to get
5:33
Speaker 1: that average house.
5:35
Speaker 2: Keep listening to what Jerry Willis says.
5:37
Speaker 4: Home buyers only needed to make seventy six thousand back
5:40
Speaker 4: in twenty twenty, and the issue widespread. You now need
5:44
Speaker 4: a six figure salary to buy the average home in
5:46
Speaker 4: twenty three states, including the District of Columbia. Four years ago,
5:51
Speaker 4: that number was just six mortgage rates.
5:54
Speaker 1: Of course, play better way, let's just stop there and
5:56
Speaker 1: dissect that. In January of twenty twenty, there were only
6:00
Speaker 1: six states in America where you need a six figure
6:02
Speaker 1: salary I meaning one hundred thousand and one dollars okay,
6:06
Speaker 1: to afford a medium home. So the majority of America, Okay,
6:12
Speaker 1: look at the map. Only six states did you have
6:14
Speaker 1: to make one hundred thousand and one dollars or more
6:17
Speaker 1: to afford a medium home price. That number has now
6:21
Speaker 1: skyrocketed from just six states to twenty three states in
6:25
Speaker 1: four years. That is catastrophic to our economy because what
6:29
Speaker 1: that means is is people are having to pour more
6:31
Speaker 1: money than ever before into the dream of home ownership,
6:36
Speaker 1: and that means they have less money for other things
6:38
Speaker 1: like goods and services and their kids in private school
6:40
Speaker 1: or whatever.
6:41
Speaker 2: It may be a car, as all the.
6:43
Speaker 1: Other prices of goods and services have also skyrocketed.
6:47
Speaker 2: That's not all.
6:48
Speaker 4: Mortgage rates, of course, have played a small role in
6:51
Speaker 4: the bump, but home prices have buy and large kept
6:54
Speaker 4: pace with a needed salary to buy them. The average
6:56
Speaker 4: home up forty two percent, sitting at four hundred two
7:00
Speaker 4: twelve thousand dollars.
7:01
Speaker 2: Let me just put that into perspective.
7:03
Speaker 1: I mentioned a moment ago that it cost you four
7:06
Speaker 1: hundred and twelve thousand, two hundred and twenty seven dollars
7:08
Speaker 1: in February of twenty twenty four to afford a median home.
7:13
Speaker 1: Right now, do you know what that number was for
7:16
Speaker 1: the same exact damn home in January of twenty twenty
7:20
Speaker 1: two hundred ninety thousand, two hundred and sixty four dollars.
7:23
Speaker 1: Two hundred and ninety thousand dollars is what it cost
7:27
Speaker 1: you for the same home that would cost you today
7:29
Speaker 1: to buy for four hundred and twelve thousand change. That
7:32
Speaker 1: is a forty two percent increase. That is unsustainable. You
7:35
Speaker 1: cannot continue to have houses go up by forty two
7:38
Speaker 1: percent over a four year period indefinitely, and there's no
7:42
Speaker 1: way in hell that wages can keep up with that
7:44
Speaker 1: where you used to have to make seventy six thousand
7:47
Speaker 1: at for that home and now you've got to make
7:48
Speaker 1: one hundred and ten thousand plus just to get into
7:51
Speaker 1: an average home.
7:52
Speaker 2: That's not all. It gets worse now.
7:55
Speaker 4: Even though the housing market may be pricing people out,
7:57
Speaker 4: people shouldn't be too quick to think that renting is
8:00
Speaker 4: the solution. Since President Biden took all this, rents are
8:04
Speaker 4: up nearly twenty one percent.
8:07
Speaker 1: So twenty one percent rents are up because you may
8:09
Speaker 1: say to yourself, well, man, I'm just going to sit
8:11
Speaker 1: on the sidelines, right. I had a good friend they're
8:13
Speaker 1: renting the other day. They're renting for years, and they
8:16
Speaker 1: had a good deal on the rent. They liked the house,
8:18
Speaker 1: they'd made it their own. They probably should have bought
8:20
Speaker 1: the house or bought another house when interest rates were low,
8:23
Speaker 1: but they didn't, right because the rent was a good
8:26
Speaker 1: deal and they liked heror they live and it felt
8:27
Speaker 1: like home.
8:28
Speaker 2: They got to notice.
8:29
Speaker 1: February saying hey, you got sixty days to move out,
8:32
Speaker 1: And what they found was is that they now can't
8:35
Speaker 1: even afford the same house that they were renting because
8:38
Speaker 1: it costs so much money because rent rates have skyrocketed
8:43
Speaker 1: since they signed their lease with someone who basically figured
8:46
Speaker 1: it out. Like that's what this really boils down to.
8:48
Speaker 1: They figured it out. The guy who has a house
8:50
Speaker 1: is going to do.
8:51
Speaker 2: One of two things.
8:52
Speaker 1: Either he's going to raise the rent a lot, which
8:54
Speaker 1: I don't think that's what he's actually doing.
8:56
Speaker 2: I think he's saying I'm going to cash.
8:58
Speaker 1: Out because I feel like they're there's a bubble coming, Okay,
9:03
Speaker 1: Like I think that's what they're realizing, that there's a bubble.
9:07
Speaker 2: I want my money.
9:08
Speaker 1: If you've got a house, it's two hundred thousand dollars
9:10
Speaker 1: four years ago, and you can cash out now and
9:13
Speaker 1: you can put four hundred plus thousand in your pocket.
9:17
Speaker 1: You may say, let's do that and I'll get out
9:19
Speaker 1: of the rental game for a little bit and cash
9:21
Speaker 1: out for retirement. Just take the four hundred thousand and
9:23
Speaker 1: invest it because interest rates are up and you're now
9:25
Speaker 1: getting a lot more for that four hundred thousand dollars.
9:27
Speaker 1: If you invest it in basic money markets, you don't even.
9:30
Speaker 2: Have to take big risks. In fact, you could take
9:32
Speaker 2: extremely low risks.
9:34
Speaker 1: And this is now where we are in this country
9:36
Speaker 1: because of Bidenomics. You can also look to trends when
9:42
Speaker 1: it comes to the economy, and one trend that I
9:45
Speaker 1: want you to know about is where we are with
9:47
Speaker 1: gold prices. Gold right now, as I'm recording this is
9:52
Speaker 1: up almost two percent alone today at two thousand, two
9:57
Speaker 1: hundred and ninety seven dollars and fifty cents an out.
10:00
Speaker 1: Why is gold up from I'll give example, if you
10:03
Speaker 1: go back to the beginning of October, it was about
10:05
Speaker 1: eighteen hundred dollars an ounce. Why to go from eighteen
10:08
Speaker 1: hundred to two thy two hundred and ninety seven dollars?
10:11
Speaker 1: One simple reason, because people are afraid of what's happening
10:15
Speaker 1: right now in this country. They're afraid of what's happening
10:18
Speaker 1: with our economy, They're afraid about what's happening with all
10:22
Speaker 1: of these basic issues that I just describe. Now, here's
10:26
Speaker 1: another headline for you that I want to give you,
10:28
Speaker 1: And this is a little bit of a contradiction of
10:31
Speaker 1: the last headline that I had for you, but it's
10:33
Speaker 1: one that shows you how quick things even change. And
10:36
Speaker 1: I'm not saying for the better, I'm saying for the worse.
10:38
Speaker 1: Home buyers is the headline from Yahoo Finance, home buyers
10:43
Speaker 1: need to earn eighty percent more than they did in
10:46
Speaker 1: twenty twenty to afford a home in today's market. So
10:49
Speaker 1: they're not referring to the medium home price anymore. They're
10:53
Speaker 1: saying just overall. Yahoo Finance and Wealth putting this out, saying,
10:58
Speaker 1: as US housing prices rise, is home ownership still even achievable?
11:05
Speaker 1: That is Yahoo Finance, listen to what they've said on
11:08
Speaker 1: their online show, But for.
11:09
Speaker 5: Many Americans, home ownership is seeming more and more out
11:12
Speaker 5: of reach. According to new analysis from Zillo, home prices
11:16
Speaker 5: have jumped forty two percent since twenty twenty, but the
11:20
Speaker 5: average person needs to earn eighty percent more than they
11:23
Speaker 5: did at that time in order to comfortably afford a
11:26
Speaker 5: home in today's market. So why are homes becoming less
11:30
Speaker 5: and less affordable? That's the big question here with the
11:32
Speaker 5: latest We've got our very own Molly moorehead, Molly, what's
11:35
Speaker 5: going on here? And why is it so hard to
11:37
Speaker 5: be able to afford a home right now?
11:40
Speaker 2: Hey, Brad.
11:41
Speaker 6: So in addition to that increase in home prices, which
11:44
Speaker 6: forty two percent is not nothing, inflation has been on
11:48
Speaker 6: the rise since the pandemic, and interest rates have followed,
11:51
Speaker 6: and so that means the cost of financing a home
11:54
Speaker 6: is so much more than it was four years ago.
11:57
Speaker 6: If you look at the average rate on a thirty
11:59
Speaker 6: year alone, in March of twenty twenty, it was three
12:02
Speaker 6: and a half percent. Today it's around six point eight
12:06
Speaker 6: six point nine, And so it's this double whammy of
12:09
Speaker 6: higher home prices and higher financing costs.
12:13
Speaker 5: So what advice do you have for prospective home buyers
12:16
Speaker 5: out there right now?
12:18
Speaker 6: Yeah, well, it's not easy. This is a tough market.
12:21
Speaker 6: But a couple of things you can do are. Number One,
12:24
Speaker 6: watch the Fed. A lot of economists market watchers think
12:28
Speaker 6: that we still have three interest rate cuts potentially coming
12:32
Speaker 6: this year from the Federal Reserve, and that will help
12:36
Speaker 6: the rate you qualify for on if you apply for mortgage.
12:40
Speaker 6: And so if you're in a position where you can
12:42
Speaker 6: time your home purchase a little bit, you don't have
12:44
Speaker 6: to buy right now, then watch what happens more broadly
12:48
Speaker 6: with interest rates, because that can help you. Second would
12:52
Speaker 6: be negotiate agent commissions. This was not really in play
12:56
Speaker 6: until very recently. With this settlement with the Realtors Associate,
13:00
Speaker 6: there has long time been a kind of de facto
13:03
Speaker 6: six percent commission.
13:05
Speaker 2: But now all of that is negotiable. So go into
13:09
Speaker 2: your home.
13:09
Speaker 6: Purchase ready to negotiate your what your agent's going to
13:13
Speaker 6: get paid.
13:14
Speaker 1: So this is their advice. Yes, home pricing is out
13:18
Speaker 1: of control. You may hope, and you can hope that
13:21
Speaker 1: maybe prices come down. Okay, that's that's a possibility, is
13:26
Speaker 1: that home prices might might come down.
13:29
Speaker 2: Okay, just might come down.
13:32
Speaker 1: They're probably not, but they might, and you should negotiate
13:35
Speaker 1: with your real term what their commission is and that
13:38
Speaker 1: might help you. Now you notice at the beginning of
13:41
Speaker 1: this they said, not only our home price up forty
13:44
Speaker 1: two since twenty twenty, they say that's because both rates
13:47
Speaker 1: and borrowing costs of skyrocket. Notice they don't blame the
13:51
Speaker 1: Biden administration's policies for this. They just act like, oh,
13:54
Speaker 1: this is just some random thing that's happening, and I
13:56
Speaker 1: get that this is yahoo.
13:57
Speaker 2: They're liberal, all right.
13:58
Speaker 1: But what they did take the truth on was and
14:01
Speaker 1: they didn't go with medium price homes. They just were
14:03
Speaker 1: giving you the overall average you need to earn eighty
14:07
Speaker 1: percent more to comfortably afford a home in today's market.
14:11
Speaker 2: Now, why they say comfortably afford If you.
14:13
Speaker 1: Want to be maxed out in your budget, it may
14:16
Speaker 1: be less, But if you want to enjoy and retire
14:20
Speaker 1: and save for retirement and have a balanced budget in
14:23
Speaker 1: your home, you literally need to earn eighty percent more
14:27
Speaker 1: to comfortably afford a home in this market than you
14:30
Speaker 1: did in twenty twenty. That is what this election is
14:33
Speaker 1: going to end up being about, in my opinion. When
14:36
Speaker 1: media and home income have only risen twenty three percent
14:39
Speaker 1: over the last four years, leaving many people without the
14:42
Speaker 1: running for home ownership, they're saying, hey, most Americans aren't
14:48
Speaker 1: even a candidate now for home ownership, and the ones
14:51
Speaker 1: that are in the homes they're in right now, they're
14:53
Speaker 1: not leaving because the interest rates are so low. They
14:56
Speaker 1: couldn't afford to move even into maybe the same house
14:59
Speaker 1: they have right now if they went and bought the
15:01
Speaker 1: same exact home across the street, because prices are out
15:05
Speaker 1: of control because of inflation and interest rates. In twenty twenty,
15:11
Speaker 1: a household earning fifty nine thousand dollars a year could
15:15
Speaker 1: afford a typical home price at about two hundred and
15:17
Speaker 1: forty grand At the time, the income level was less
15:20
Speaker 1: than the US medium income of sixty six thousand, meaning
15:24
Speaker 1: more than half of American households had sufficient cash flow
15:29
Speaker 1: to not only purchase a home, but also to plan
15:33
Speaker 1: for retirement and save money.
15:35
Speaker 2: In other words, they were.
15:36
Speaker 1: Able to purchase a home without overextending their budgets and
15:39
Speaker 1: being locked in a miserable cycle of hell every month
15:42
Speaker 1: coming up short or having to cut things. Today, those
15:46
Speaker 1: same people, just four years later that are shopping for
15:49
Speaker 1: a home, they need their income to go from fifty
15:52
Speaker 1: nine thousand a year to one hundred and six thousand
15:56
Speaker 1: dollars to afford the same exact home. Because the home
15:59
Speaker 1: price has gone, as I mentioned earlier, from two hundred
16:02
Speaker 1: and forty thousand to three hundred and forty two thousand.
16:06
Speaker 1: That means you've got to earn forty seven thousand dollars
16:10
Speaker 1: more than you needed to earn in twenty twenty.
16:13
Speaker 2: To afford the same exact house.
16:17
Speaker 1: And that's well above today's average income of eighty one
16:20
Speaker 1: thousand dollars. Now, Zillo is more realistic than the other
16:24
Speaker 1: numbers I was giving you earlier. Zillo's analysis is just saying, hey,
16:29
Speaker 1: this is the truth.
16:30
Speaker 2: This is what's going to happen.
16:32
Speaker 1: And a point of concern is also this that the
16:34
Speaker 1: banks are saying is look barely a handful of major
16:37
Speaker 1: metro areas evaluated were affordable for the majority of the
16:41
Speaker 1: people living there at the median income. The real estate
16:46
Speaker 1: firm defines affordability as spending no more than thirty percent
16:50
Speaker 1: of your income after offering a ten percent down payment, which,
16:54
Speaker 1: by the way, most people now don't have the ten
16:56
Speaker 1: percent down payment because that money has disappeared because the
17:00
Speaker 1: cost of goods and services and inflation now.
17:03
Speaker 2: A senior analyst.
17:05
Speaker 1: At Zillo said it this way, incomes needed to purchase
17:09
Speaker 1: a home are just much much higher than the typical
17:13
Speaker 1: household income. The increase in costs is pricing out many
17:18
Speaker 1: families that will never get on the housing ladder and
17:21
Speaker 1: will never be able to start even in their starter
17:24
Speaker 1: home because of what we just described. And the fact
17:27
Speaker 1: is today's typical buyers would be facing a monthly mortgage
17:31
Speaker 1: payment that is ninety six percent higher compared to twenty
17:35
Speaker 1: twenty levels, so virtually double what you were going to
17:38
Speaker 1: have to spend back then for the same home. So
17:41
Speaker 1: there is the government numbers, and I gave you those earlier.
17:44
Speaker 1: And then there's the reality, and Zillo is saying, you
17:47
Speaker 1: need twice as much money now for a payment every
17:50
Speaker 1: month than you did in twenty twenty in four years.
17:52
Speaker 2: So that's twenty five percent increase a year.
17:55
Speaker 1: That's an average payment by the way of two two
17:58
Speaker 1: hundred dollars a month with a ten percent down payment
18:01
Speaker 1: just to get into what you would describe as basically
18:03
Speaker 1: a starter home. Now, the main difference they say is yes,
18:06
Speaker 1: mortgage rates end in January of twenty twenty at three
18:10
Speaker 1: and a half percent, a little lower if you have
18:12
Speaker 1: good credit. So far this year the rates have hovered
18:15
Speaker 1: between six and a half to above seven, depending on
18:17
Speaker 1: your credit, but no less than six and a half.
18:21
Speaker 1: And this uptick has made not only the prices of
18:25
Speaker 1: goods and services go up, but if it is put,
18:27
Speaker 1: would be buyers in a spot where now they're basically saying,
18:30
Speaker 1: I can't afford it, so now I'm going to rent.
18:33
Speaker 2: So what do you do with renting?
18:34
Speaker 1: I go back to what I mentioned earlier when it
18:36
Speaker 1: comes to the issue of renting. The prices when it
18:39
Speaker 1: comes to renting are also through the roof, which brings
18:42
Speaker 1: me to another issue. You may have noticed now that
18:45
Speaker 1: we have a hell of a lot of people that
18:46
Speaker 1: are squatting in homes right. A lot of illegal immigrants
18:50
Speaker 1: as well have figured out how to get into the
18:52
Speaker 1: squatting game. That's where you take up residence and a
18:54
Speaker 1: home that you literally don't own. A Florida Sheriff Grady
18:59
Speaker 1: Judge is about squatters. He's had enough, and the governor
19:03
Speaker 1: in Florida has said I've had enough of this as well,
19:06
Speaker 1: changing the legislation and the laws to protect homeowners who
19:10
Speaker 1: have people that are staying in their houses that don't
19:14
Speaker 1: belong there, that aren't paying rent.
19:15
Speaker 2: They're called squatters.
19:16
Speaker 1: It's gotten so bad in this country right now that
19:20
Speaker 1: the White House is having to respond to the squatter issue.
19:24
Speaker 1: Take a listen to this and the White House Press Secretary.
19:28
Speaker 7: The White House was pressed on squatters' rights. What's this place?
19:32
Speaker 7: Sheriff roll it?
19:33
Speaker 8: How worried do Americans need to be about squatters? Homeowners
19:36
Speaker 8: are showing up the places that they own where the
19:39
Speaker 8: lots have been changed, some squatter has moved in and
19:42
Speaker 8: the homeowner has no rights. Does President Biden think that
19:45
Speaker 8: is right?
19:45
Speaker 9: So my understanding is that this is obviously a local issue.
19:50
Speaker 9: We are certainly tracking that issue. The rights of property
19:54
Speaker 9: owners and renters must be protected, and we believe that.
19:57
Speaker 9: You know, ultimately what needs to happen is a local
20:01
Speaker 9: government needs to make sure that they address this and
20:04
Speaker 9: they take action.
20:05
Speaker 7: KJP is saying that it's a local issue. I believe
20:09
Speaker 7: you're saying it's a local issue. Would you want the
20:11
Speaker 7: FEDS to get involved at all?
20:14
Speaker 3: No, absolutely not. The FEDS need to take care of
20:16
Speaker 3: the federal issues. They're not doing too good with what
20:19
Speaker 3: they need to be doing dealing with. So you stay
20:22
Speaker 3: in Washington and you deal with international issues that are
20:27
Speaker 3: really important to us as a nation, and let us
20:31
Speaker 3: take care of the local stuff. That's interesting to me.
20:34
Speaker 3: It is uncon inconceivable to me that any community would
20:39
Speaker 3: allow a squatter to take over someone's homes and tell
20:44
Speaker 3: them they had to go through a civil process. Well,
20:47
Speaker 3: when they go on to your property without permission, that's trespassing, burglary, theft,
20:53
Speaker 3: And all you have to do is man up or
20:55
Speaker 3: woman up as a police administrator and say go arrest
20:59
Speaker 3: them and put them in jail. Once you validate the
21:02
Speaker 3: fact that there's no contractual lease agreements, our legal agreement
21:07
Speaker 3: to sale. We've done that all along, Stuart. As a result,
21:11
Speaker 3: our crimes are a fifty year long.
21:13
Speaker 7: Excellent Cheff, Jeff, thanks for joining us this morning. We
21:16
Speaker 7: appreciate it. Thank you, sir.
21:17
Speaker 1: This sheriff, by the way, is making it clear and
21:20
Speaker 1: this is a nationwide problem. I love how John Pierre's like, oh,
21:24
Speaker 1: this is a local issue, we're monitoring it.
21:27
Speaker 2: No, they're not.
21:29
Speaker 1: They're not monitoring this at all. They're not thinking about
21:33
Speaker 1: monitoring this. They don't want to deal with this because
21:36
Speaker 1: they're in favor I think of the squatters. They're not
21:39
Speaker 1: coming out condemning it. They're not coming out saying that
21:42
Speaker 1: it's wrong. They're not coming out saying that that this
21:45
Speaker 1: is something you noticed. They said that, Well, we have
21:47
Speaker 1: to make sure we're on the side of renters' rights.
21:49
Speaker 2: That's a woke liberal agenda.
21:50
Speaker 1: By the way, they always will side on the other
21:54
Speaker 1: side of the people that actually own the house and
21:56
Speaker 1: that are up for all the problems. Okay, Like understand
21:59
Speaker 1: and be clear about that. This is the problem that
22:04
Speaker 1: we have in this country with our government is they
22:06
Speaker 1: look out for the people that are.
22:09
Speaker 2: Doing this, doing the wrong, more.
22:13
Speaker 1: Than they look out for the people that are holding
22:15
Speaker 1: the bag and owning the house like like, that's that's
22:18
Speaker 1: part of the problem here, and and it's incredibly frustrating
22:23
Speaker 1: when you see it this way. It's it's it's incredibly
22:27
Speaker 1: frustrating to watch a government that doesn't help you out,
22:31
Speaker 1: that doesn't protect you, that that doesn't sit there and say, look,
22:35
Speaker 1: we get it. You own this house, You've got you've
22:38
Speaker 1: got payments, right like when the economy is hurting right now,
22:42
Speaker 1: as the way that it is, and it's hurting right now,
22:46
Speaker 1: people don't have a lot of extra income in their pockets.
22:50
Speaker 2: They just don't. They don't have a lot of extra
22:53
Speaker 2: cash in.
22:54
Speaker 1: Their pocket to sit around for three months or six
22:56
Speaker 1: months or nine months or a year and then hire
22:59
Speaker 1: attorneys to get some out of their house. Had no
23:00
Speaker 1: business being in their house in the first place. That
23:03
Speaker 1: is the issue that we have with all of this.
23:07
Speaker 1: All right, I'm going to keep watching this because I
23:09
Speaker 1: do think this is the issue that Republicans should be
23:12
Speaker 1: talking about heading into this presidential election cycle.
23:14
Speaker 10: It's the economy stupid. It's the economy stupid. It's the
23:16
Speaker 10: economy stupid. I'm going to keep saying it. It's the
23:18
Speaker 10: economy stupid, because that's what it is. Okay, it's the
23:22
Speaker 10: economy stupid. Let me let me also just say one
23:24
Speaker 10: other thing about this personally. We got a new car recently,
23:28
Speaker 10: and I'm not kidding. It was like exactly what you
23:31
Speaker 10: would expect. And I roll my eyes because it's exactly
23:34
Speaker 10: what you would expect. Two days after getting the car,
23:37
Speaker 10: a big rock hit the windshield, crack the windshield, and
23:39
Speaker 10: you're like, are you kidding me? And so I called
23:42
Speaker 10: because I was like, do I want to do insurance
23:44
Speaker 10: on this.
23:44
Speaker 1: Or just pay cash? And I called to get a
23:46
Speaker 1: couple of quotes. And what I found out was and
23:51
Speaker 1: I had a windshield that was replaced a couple of
23:54
Speaker 1: years ago, not I mean like within the last two years.
23:57
Speaker 1: And what I learned from that, okay, was that And
24:02
Speaker 1: this was after talking to people that sell the glass.
24:04
Speaker 1: I was like, I got the quote and I was
24:06
Speaker 1: kind of shocked by it, Like I'm like, I really was, like,
24:09
Speaker 1: I was like, are you kidding me?
24:10
Speaker 2: And I was like, why is this windshield so expensive?
24:14
Speaker 1: Like maybe there's something I don't know, I'm assuming there's
24:16
Speaker 1: something unique, or maybe it's because it's a newer car
24:19
Speaker 1: and there's just not that many out there in the
24:21
Speaker 1: road yet. So the price isn't not you know, it's
24:23
Speaker 1: not down because maybe they're not manufacturing as many replacement
24:26
Speaker 1: windshields for this car yet.
24:27
Speaker 2: So I was like, all right, I'll give you the
24:29
Speaker 2: benefit of the doubt.
24:29
Speaker 1: But like I got to know, dude, inflation and they're like,
24:32
Speaker 1: we've seen the average price of windshields since COVID, he said,
24:38
Speaker 1: in with inflation. Some of them, he said, more than
24:41
Speaker 1: double depending on what type of car it is, it
24:43
Speaker 1: is skyrocket.
24:44
Speaker 2: They're like, people are.
24:44
Speaker 1: Mad because a lot of them don't have the coverage
24:49
Speaker 1: on their insurance plans for glass, because it can save
24:52
Speaker 1: you some money on your insurance and so it's a
24:54
Speaker 1: way to get your insurance costs down. But they were like,
24:57
Speaker 1: this is this is the part that's insane, is that
25:01
Speaker 1: we have so many different things that you don't realize
25:04
Speaker 1: until you need it. Like, am I gonna shop around
25:07
Speaker 1: for a new windshield?
25:09
Speaker 2: Certainly a little bit. I'm gonna do that. I'm gonna
25:13
Speaker 2: shop around a little bit.
25:14
Speaker 1: Am I gonna Google search and say, hey, here's the car,
25:17
Speaker 1: this is what it is.
25:18
Speaker 2: What's the average cost for this?
25:20
Speaker 1: Yes, I am And you can see the national average,
25:23
Speaker 1: like it's it's significantly higher than what I was expecting.
25:26
Speaker 2: I would argue, it's.
25:27
Speaker 1: Almost double what I thought it was gonna cost me
25:31
Speaker 1: for this windshield. And this is not some like luxury car.
25:35
Speaker 1: Just so you understand, this is this is this car
25:37
Speaker 1: is a Jeep. Okay, that's who the manufacture is. So
25:41
Speaker 1: I'm not thinking this is some like higher price unique
25:44
Speaker 1: European car or like a range Rover windshield that's heated,
25:49
Speaker 1: you know where it has a little veining through it
25:51
Speaker 1: on the front windshield to melt ice, like I get
25:54
Speaker 1: if that's a lot more. This is a basic jeep
25:57
Speaker 1: that has a a basic piece of glass and it's
26:02
Speaker 1: about double what I thought it was going to cost.
26:05
Speaker 1: And that's where we are now, Like this is the
26:08
Speaker 1: reality of the situation. Everything is going up now. Let
26:13
Speaker 1: me also, I want to put something else on your
26:15
Speaker 1: on your radar screen that I also think is a
26:18
Speaker 1: very important point that needs to be talked about, and
26:20
Speaker 1: it deals with Israel. And I thought I was gonna
26:22
Speaker 1: get to this earlier, but I don't want to miss
26:24
Speaker 1: you knowing about this today. For everybody out there and
26:28
Speaker 1: the media and on the left that's demanding a ceasefire.
26:31
Speaker 2: I want you to know where we are on a ceasefire.
26:34
Speaker 1: There is an Israeli airstrike that took place. Media not
26:39
Speaker 1: covering this, that took out an Iranian general in Damascus.
26:44
Speaker 1: Apparently the strike killing Muhammad, a top commander in the
26:49
Speaker 1: Iranian Revolutionary Guard the IRGC. According to a new report
26:54
Speaker 1: out by Reuters, citing a security source in Lebanon, this
26:58
Speaker 1: is a massive victory for Israel because Iran and this
27:03
Speaker 1: individual and the Iranian National Guard was the one that
27:06
Speaker 1: was funding terrace directly. Muhammad, the top commander of the
27:10
Speaker 1: coued force of the Iranian Revolutionary Guard, this is their
27:13
Speaker 1: top guy for Lebanon and Syria, was assassinated in an
27:18
Speaker 1: airstrike on Monday, along with his lieutenant and about five
27:22
Speaker 1: other top officers. This individual is the highest ranking Iranian
27:28
Speaker 1: killed since the current war started, even higher than another man.
27:33
Speaker 1: You may have remembered us talking about Sayid who was
27:36
Speaker 1: killed in December, and the Jerusalem Posts talked about that.
27:40
Speaker 1: Reuter's reporters at the site of this area in Damascus,
27:45
Speaker 1: they said saw emergency workers clamoring atop the rubble of
27:48
Speaker 1: a destroyed building inside the diplomatic compound adjacent to the
27:52
Speaker 1: main embassy building. Emergency vehicles were parked outside an Iranian
27:56
Speaker 1: flag hung from a poll in front of the debris.
27:59
Speaker 1: The Syria and Foreign Minister and Interior Minister were both
28:02
Speaker 1: spotted at the scene. Initial reports indicated that at least
28:06
Speaker 1: six people were killed in the strike, which targeted the
28:09
Speaker 1: building adjacent to the Iranian consulate, reported to be used
28:13
Speaker 1: as a military command center for the IRGC. Syrian state
28:18
Speaker 1: media said at least six people were killed and several
28:20
Speaker 1: more were injured. Those reports had not been verified by press.
28:24
Speaker 1: That was just the reports coming out from the government there. Now,
28:28
Speaker 1: besides his wide ranging responsibility for terror on Israel's border,
28:33
Speaker 1: this individual was the highest level individual for Tehran to
28:38
Speaker 1: be talking directly with Hesbelah, and we know what Hesbela
28:42
Speaker 1: did to the innocent people in Israel. This means that
28:46
Speaker 1: although Israel has not taken credit, by the way, for this,
28:50
Speaker 1: Iran and Hesbla are already accusing Jerusalem of quote escalating
28:54
Speaker 1: Israel's war against Iran's regional proxies, and they said this
28:59
Speaker 1: could be a huge, huge blow to.
29:00
Speaker 2: The prospect of peace.
29:02
Speaker 1: Yeah, I'm going to believe Iran saying they want to
29:05
Speaker 1: be peaceful.
29:05
Speaker 2: I'll pass on that.
29:06
Speaker 1: One Iranian press is also reporting that there was a
29:10
Speaker 1: meeting with leaders of Palace in the Islamic Jihad at
29:13
Speaker 1: the time of the strike, but these reports have not
29:15
Speaker 1: been independently verified. We also know that he commanded the
29:19
Speaker 1: Coud Forces Unit eighteen thousand, responsible among other things, for
29:24
Speaker 1: smuggling ammunition and smuggling precision weapons into Lebanon.
29:29
Speaker 2: He had also commanded.
29:30
Speaker 1: The IRGC's Air Force and the Imam Hussein the Vision
29:36
Speaker 1: in the past. Israel we also knows long targeted Iranian
29:41
Speaker 1: military installations and those of its proxies in Syria, and
29:45
Speaker 1: have been ramping up the strikes in the last few days.
29:49
Speaker 1: This is a victory, by the way, for Israel. This
29:51
Speaker 1: is a victory for freedom. This is a victory that
29:55
Speaker 1: we should all celebrate. And I'm guessing ninety nine point
29:58
Speaker 1: nine percent of you listening right now now did not
30:01
Speaker 1: know this happened on Monday, because the media will not
30:03
Speaker 1: tell you about the good that Israel is doing. And
30:06
Speaker 1: this is good. I want to make that very very
30:08
Speaker 1: very very clear. Okay, this is good, this is success,
30:14
Speaker 1: This is a victory.
30:17
Speaker 2: All right.
30:18
Speaker 1: As always, please share our podcasts anywhere you are on
30:21
Speaker 1: social media. It helps other people find the show. Please
30:24
Speaker 1: write us a five star review that helps us as well,
30:26
Speaker 1: and we'll see you back here tomorrow