Do You Really Own Your Home? The Ugly Truth About Our Housing Crisis

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Will the president call a housing emergency? Yeah, they’re putting it out. Scott Besson, secretary of the treasury, is kind of alluding to the fact that housing emergency, they’re gonna make that the 2026 midterm election running point. They may kick it off this fall. Again, is there emergency? Yeah, yeah, that’s an emergency.

Okay. It’s an emergency. I certainly hope, I certainly hope, cause we’ve talked about this greatly, the president doesn’t go and again, try to do all sorts of nonsensical things, usurping his power, extending the power of the executive branch of government where he’s just going to get knocked around in some court somewhere. there are a myriad of different things that they can do and run through Congress to get this done the right way.

and make it permanent. People have been listening to this program. They understand that we’ve explained that homes have never been less portable than they are right now based upon the medium price for home, medium income here in the United States and granted, granted a big country, housing market, real estate, it’s all about certain areas and.

going to be more inflated than others for a myriad of reasons. I get all that. But it’s insane. And it’s not about. Mortgage rates. It really is. It’s not. About. Mortgage rates. One of the things- tried to explain to people this is important and I’ve done this before to pay close attention. Okay.

someone wants to go out, they want to buy a home. Young family wants to go out and buy a home. They have a certain income. There’s calculations that are put together in regards to how much they can afford on a 30-year mortgage. Now, anybody who’s owned a home, okay? Mortgage, housing payments, you’ve got taxes, you’ve got insurance, you’ve got interest, you’ve got principal. Now,

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If the interest element of that equation drops, if that drops well, okay, guess what? The seller of the home knows that money is less, okay, real estate agents know this, meaning that they can charge more for the home. So there’s an inverse relationship. Oftentimes when interest rates drop, mortgage rates drop, the price

of homes goes up because guess what? You’ve got more money that you can spend. Now, those other two areas, Insurance. First and foremost, one of the problems we have here in this country, I’ve explained this before, is the government should never, ever, ever, ever, ever be involved in the insurance business. Just shouldn’t, okay? That’s a scam, okay? That’s welfare for rich people.

We don’t in a flood zone. Well, don’t live in a flood zone. How does that sound? It sounds crude, rude, whatever it may be. I’ll give point myself out for this. Okay? I don’t live in a flood zone. I live in Florida. Okay? I didn’t want to. I could have gone and gotten a house on the water. You think I want to deal with that nonsense?

my age and have to you know what my hurricane might come in and have to deal with flooding and all that. No way, no how. Okay yeah I’m a stone’s throw away from the water but I’m not in a flood zone. Okay many homes here in this country and insurance companies don’t want to underwrite their insurance. Well the government steps in. Meaning who? You and I. Why the hell do I have to subsidize

the insurance on your multi-million dollar house on the water. That is the biggest bunch of BS I’ve ever seen in my entire life. Now what does that do? Well, it makes those homes on the water a lot more expensive, doesn’t it? Again, you can see why real estate agents love this, because they sell homes and it’s based upon the price of the home. Now, play for 10s here, okay? There’s no subsidies. No more, no more government subsidization.

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of any sort of home insurance whatsoever. Well gee whiz then. The insurance companies don’t want to insure the home. Well, geez, guess what? You’re gonna have to pay cash for that home. How many people can afford that? The price of the home will come down. You’re solving a major affordability thing here when you take the government money out of the equation. They make everything go up.

And I can go off on all of the subsidized mortgages and a myriad of other things that quite frankly shouldn’t happen. Should not happen. Now, we’ve gone over here on the program the problem we have with corporate home ownership. You really want to knock the price of homes down. know Marjorie Taylor Greene keeps beating this out there. And I don’t think it’s necessarily a bad thing. Eliminating the capital

capital gains tax on the selling of a home, it’s going to help a tiny little bit. Just a little bit. Again, if you’re smart, you own a home, you keep track of all the money you put into your home over all of those years. You can factor that in and you can get yourself oftentimes, even if you own the home for a long period of time, underneath that $500,000, know, extension cap you have that

that goes above on that. The other issue is home tax rates, property tax rates. They become oppressive. They become absolutely oppressive in many markets. Get that knocked down. Okay, this would be a great way, great way to crush.

And again, this is part of the problem because again, I don’t think the donkeys or the elephants have any interest in crushing the black stones of the world and other types of corporate ownership of homes. I’m a big believer. Owner occupied.

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owner occupied homes. Real simple, no property tax.

No property hacks. Or you come up with something, you know, a much more reduced rates. I every municipality is different. You don’t want the federal government, you know, messing around in little towns, here, there, and everywhere. Okay? But you have to have some sort of break. Some sort of break. We see this all the time. And again, it’s awful. We live in a country where people have busted their ass their entire lives.

They move to an area and that area would become, which is fine. It becomes gentrified. More people want to move there. The property values go up. But again, their property taxes have gone through the roof and they live on a limited budget and they can no longer afford.

They can no longer afford to live in the home that is bought and paid for because of property taxes. Story the other day, this poor guy, this poor guy bought a piece of property. It’s kind of like a this old house situation. Okay. He’s a handyman. Okay. Knows how to fix things. Rich guy. He fixed the entire home himself, did everything there on the house.

Property assessor, get it himself. Property assessor comes in, reassesses the home at a new valuation. He has to move. He can’t afford to live in the house that he bought and he fixed up by himself because the property taxes are too high. You tell me, land of the free, home of the brave. What a bunch of bullshit. I said this again and again and again. People were all suckers, okay? You don’t own a home.

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You don’t. You basically, when you purchase a piece of property or home here in the United States, you’ve bought with, basically you bought usage rights. That’s all that you have. You don’t pay your property tax and they take it.

And you have all of this waste in local government. You want to talk about Doge? We need to doge that.

We’ve got to go towards a consumption tax, which we had it nationally as far as federal tax is concerned, but on states as well. Owner occupied homes, no. No, you can’t be paying the property. People can’t afford it. You get rid of that. People be able to afford a home. That is a major problem that we’re dealing with, also as well.

the monopolistic nature of a lot of this corporate ownership we’ve gone over before, buying up entire neighborhoods, playing the game there, playing the game. look at, you know, we bought all these homes for $500,000. We’ll sit on them for a period of time. We’ll sell those homes to ourselves and another fund for $200,000 more. Look at that. We sold three or four of them. Now we’ve got comps.

Cause that’s how the industry, how do we got Tom? geez, right? know, $700,000. Now we got to sell that for more. It’s a scam.

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It’s a scam. Talk about various different antitrust stories here on the program. How does this scam benefit the consumer? Does it? And I say we go after Google, you go after, I mean, you go after these tech companies which are lowering prices and doing various different things. Why not go after this? It’s a damn racket. So yeah.

Yeah, do we have a housing emergency here in the United States? Absolutely. Would our economy be much better, much more dynamic if people had more disposable income rather than having to spend it on their homes? Absolutely. Big life lesson. And again, I hate conventional wisdom. We defied all the time and that’s why we’re successful.

The idea out there that your home is this wondrous, terrific investment is stupid. Okay? It is a bill. It’s a necessity. You have to live somewhere. They’ve got people believing that it’s this great, all this stuff. It’s not. It’s not. It’s a bill. You do not want to become house poor.

Once people fully understand this nature, as financial planners, what we do, we try to explain to them, don’t take your home into account with anything. It’s a bill, okay? you wanna put that kitchen in? Great, put the kitchen in your home. You wanna improve it because you want the kitchen, not because you’re gonna actually get your money out when you sell your home, because you’re not. It doesn’t work that way, that’s a lie.

Anyway, yeah, housing emergency, yeah. Would this be a surefire winner if it’s done the right way? Yeah. Will it be a surefire loser and problematic for years to come if the government starts stepping in and pushing more types of subsidies out there? Absolutely. Watchdog on wallstreet.com.