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Speaker 1: Good morning, Coon Air contrary. Okay, a lot and I

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Speaker 1: mean a lot to talk about today. We're also going

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Speaker 1: to be talking about Trump's decision now to allow six

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Speaker 1: hundred thousand Chinese students on a visa program on colleges

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Speaker 1: and universities across the country. Many of them are going

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Speaker 1: to be coming actually to Massachusetts, but also to other

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Speaker 1: colleges across the entire country, and it's creating a lot

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Speaker 1: of backlash among his supporters. We're going to have that

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Speaker 1: at nine o'clock with a special guest. But first, is

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Speaker 1: getting a fifty year mortgage a good idea. So, in

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Speaker 1: the wake of the recent off year elections, and in

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Speaker 1: particular the Democrat victories in New York City, in Virginia

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Speaker 1: and in New Jersey, many within Trump's inner circle and

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Speaker 1: even the President himself now fear that the so called

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Speaker 1: affordability issue, the cost of living inflation, is still going

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Speaker 1: to be a dominant, potent issue in the midterm elections,

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Speaker 1: and Mom Donnie explicitly ran on it. But many who

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Speaker 1: are in the exit polls, who voted for the Democrats

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Speaker 1: in Virginia and in New Jersey said that the cost

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Speaker 1: of housing, rent, food, groceries, utilities across the board is

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Speaker 1: still way too high. And they're sending a message to Trump,

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Speaker 1: to the Republicans and to all politicians, we want you,

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Speaker 1: we need you to lower prices. And so Trump is

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Speaker 1: now worried as well as Mike Johnson and John Thune,

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Speaker 1: that the Democrats are going to use the cost of

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Speaker 1: living issue, the affordability issue as a as a as

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Speaker 1: a stick a bludgeon to hammer Republicans and perhaps retake

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Speaker 1: the House and even the Senate in twenty twenty six.

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Speaker 1: And so now they are going to focus like a

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Speaker 1: laser beam on the affordability issue. Already, Trump is telling Republicans,

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Speaker 1: Tell Republicans sorry, Tell the voters. Lay out to the

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Speaker 1: voters that gas is coming down, that the price of

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Speaker 1: eggs has come down, that the price of certain foods, vegetables,

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Speaker 1: fruits is starting to ease and come down. In other words,

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Speaker 1: don't let the media and the Democrats define the perception

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Speaker 1: that they are now slowly defining, that prices remain skyrocketing high.

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Speaker 1: The problem, however, is that that's only half true. It

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Speaker 1: is true, there's no question I tank up my car

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Speaker 1: gas is it is getting cheaper eggs, have gone down. Frankly,

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Speaker 1: other items not as much as I would like, but

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Speaker 1: they do cost a little bit less. But I'll tell

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Speaker 1: you this, housing is skyrocketing rent in many cities like Boston.

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Speaker 1: But it doesn't matter. It could be La it could

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Speaker 1: be Chicago, it could be Philadelphia, it could be Baltimore,

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Speaker 1: it could be Atlanta, it could be New York, take

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Speaker 1: your pick. Rent is getting so expensive that many people

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Speaker 1: now find it utterly unaffordable. Utilities, energy bills way too high.

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Speaker 1: Now that's primarily because of what governors are doing. For example,

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Speaker 1: in Massachusetts, this is almost one hundred percent more heally.

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Speaker 1: So you know, it's not fair to blame Trump. But

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Speaker 1: the fact of the matter is, you know how it goes.

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Speaker 1: He's the president and they judge the economy based on him,

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Speaker 1: and so Trump is now it's an all hands on

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Speaker 1: deck saying we now need to find ways to tackle

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Speaker 1: and confront this affordability crisis head on. That was inherited,

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Speaker 1: by the way from Joe Biden. This is all because

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Speaker 1: of Joe Biden and his policies. But Trump vowed and

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Speaker 1: pledged that he was going to clean up Biden's mess,

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Speaker 1: and so it now appears that the twenty twenty six

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Speaker 1: midterms are going to be essentially a referendum on the

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Speaker 1: issue of inflation and affordability and the Republican's ability to

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Speaker 1: bring costs and prices down. So what Trump now wants

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Speaker 1: to do is he's hoping that all of these investments

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Speaker 1: that are pouring in trillions of dollars, you're going to

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Speaker 1: finally see wages go up. That's going to help. He

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Speaker 1: wants to give a two thousand dollars tariff rebate check

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Speaker 1: to every middle working class home and family. Now it's

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Speaker 1: not a silver bullet, but two thousand dollars again puts

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Speaker 1: a little extra money in your pocket and helps you

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Speaker 1: deal with the you know, with the pine groceries, helping

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Speaker 1: out a little bit with rent, paying some of your bills.

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Speaker 1: But one of the big ideas that Trump now seems

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Speaker 1: to really be interested in is to provide, especially first

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Speaker 1: time young home buyers, the option of a fifty year mortgage.

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Speaker 1: As you know, really since the nineteen thirties, mortgages have

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Speaker 1: historically been thirty years, maybe some forty years, but mostly

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Speaker 1: it's been a thirty year mortgage. Well, now Trump and

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Speaker 1: his advisors think that having a fifty year mortgage is

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Speaker 1: going to bring monthly payments down because you extend the

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Speaker 1: cost of the loan. By extending the cost of the loan,

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Speaker 1: you can then have lower monthly payments over a much

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Speaker 1: longer period of time. Now, one of the things that

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Speaker 1: is driving all of this is that, let me just

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Speaker 1: give you an example when the cooner man was growing

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Speaker 1: up in the nineteen eighties, and to me, the nineteen

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Speaker 1: eighties remain a golden age. I can't tell you how

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Speaker 1: grateful I am that, really I grew up, I came

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Speaker 1: of age in the nineteen eighties, because it truly was

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Speaker 1: a much much better time than today, that's for sure,

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Speaker 1: or certainly under Obama. But anyway, let that go. Most

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Speaker 1: young people, when they bought their first home, the median

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Speaker 1: age was twenty nine years old. I remember growing up,

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Speaker 1: you were expected to get your first home by about

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Speaker 1: thirty years old. You went, you worked, you spent a

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Speaker 1: few years in an apartment, you developed your credit, you

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Speaker 1: found someone, you eventually get married, and then you know, together,

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Speaker 1: you get your first home by your late twenties, early

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Speaker 1: thirties at the latest. Now the median age. Listen now

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Speaker 1: to this where people buy their first home is forty

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Speaker 1: years old. Forty years old, and many people now say

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Speaker 1: that they really can't buy their home, their first home

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Speaker 1: until the age of fifty. That, in other words, the

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Speaker 1: cost of housing, the cost of homes has become so expensive,

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Speaker 1: and the cost of rent takes so much out of

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Speaker 1: your paycheck that you can't put enough money aside to

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Speaker 1: get yourself a home. And so the argument now in

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Speaker 1: favor of a fifty year mortgage. And I just want

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Speaker 1: to lay it out for you. The average cost of

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Speaker 1: the median home in the United States. I'm not talking

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Speaker 1: Boston because you're gonna laugh when I tell you this figure.

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Speaker 1: I'm talking you know, you got to think about you know,

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Speaker 1: we're going into Iowa and Kansas and Idaho. So it's

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Speaker 1: not just Massachusetts or California or New York. I'm talking

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Speaker 1: the entire United States. The average cost of a median

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Speaker 1: home is four hundred and fifteen thousand dollars. Four hundred

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Speaker 1: and fifteen. Now, that doesn't even get you a shock.

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Speaker 1: I mean four hundred and fifteen thousand, and frankly, not

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Speaker 1: just even in Boston. In most parts of Massachusetts, it's

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Speaker 1: like four fifteen. That's an insult. If you put an

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Speaker 1: offer on any kind of a home, Okay, and that's

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Speaker 1: the reality in many, many big urban areas. But still

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Speaker 1: it's four hundred and fifteen thousand dollars. If you were

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Speaker 1: to extend the mortgage from thirty years to fifty years,

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Speaker 1: you get a four hundred and fifteen thousand dollars home.

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Speaker 1: At the current rate of interest, thirty year mortgage, it

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Speaker 1: will cost you ballpark two thousand, five hundred dollars a month,

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Speaker 1: twenty five hundred a month. You now tack on another

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Speaker 1: twenty years, make it a fifty year mortgage. You've now

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Speaker 1: lowered your monthly payments by two hundred and twelve dollars.

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Speaker 1: It will cost you two thousand, two hundred and eighty

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Speaker 1: eight dollars. And so the administration is arguing that by

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Speaker 1: extending the loan from thirty to fifty years, you're going

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Speaker 1: to be lowering the monthly payments by about two hundred,

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Speaker 1: two hundred and twenty two hundred and thirty dollars. This

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Speaker 1: is going to make buying a home more affordable. Hence,

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Speaker 1: more people are going to start to get into the

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Speaker 1: get their first home, develop some equity, develop some credit.

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Speaker 1: Uh maybe eventually sell it, get another home. In other words,

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Speaker 1: it's a way to tackle the affordability issue and make

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Speaker 1: the American dream, and owning a home is a big

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Speaker 1: part of the American dream, make it more accessible, especially

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Speaker 1: the younger first time buyers. Now, let me be brutally

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Speaker 1: honest with you. I'm against it. I'm against it, and

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Speaker 1: I'm against it for two reasons. Number one, let's just

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Speaker 1: say you go from a thirty to a fifty year mortgage.

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Speaker 1: I to me, sure, I'd rather pay two twenty you know,

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Speaker 1: twenty three hundred over than two thousand, five hundred. But

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Speaker 1: I don't think two hundred dollars six one seven two six, six,

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Speaker 1: sixty eight sixty eight is the number. Okay, So I'm

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Speaker 1: against the idea of a fifty year mortgage. I don't

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Speaker 1: think it's going to really tackle the affordability issue.

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Speaker 2: Uh.

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Speaker 1: And I'll tell you why. As I mentioned, the first

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Speaker 1: point is you're not really saving that much money. Again,

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Speaker 1: just to use I'm just going buy you know, median statistics.

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Speaker 1: So the average home in America four hundred and fifteen dollars,

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Speaker 1: four hundred and fifteen thousand dollars. Okay, that's the median

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Speaker 1: cost of buying a home in the United States, if

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Speaker 1: you were to use current interest rates, thirty year mortgage

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Speaker 1: two thousand, five hundred dollars. I mean, give or take

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Speaker 1: a few bucks, but it's two thousand, five hundred dollars

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Speaker 1: every month that you have to make in payments to

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Speaker 1: the bank, your mortgage payments obviously interest included. You extend

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Speaker 1: it from thirty years to fifty years. It's now two thousand,

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Speaker 1: two hundred eighty eight dollars. Now, okay, I mean, would

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Speaker 1: I rather pay two hundred and twelve dollars less a month? Sure,

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Speaker 1: But I'll be honest with you, I don't think that's

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Speaker 1: what's keeping people up at night. I don't think two

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Speaker 1: hundred dollars a month is the difference between staying in

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Speaker 1: a home and not staying in a home. You know,

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Speaker 1: you look at rents, for example, in Boston, they're twenty

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Speaker 1: eight hundred a month, three thousand a month, three thousand,

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Speaker 1: five hundred dollars a month. That's what's choking people. So

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Speaker 1: if I go to you and say, well, okay, your

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Speaker 1: rent now is not going to be I don't know

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Speaker 1: three thousand, five hundred is going to be three thousand,

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Speaker 1: three hundred. It's still too expensive. I mean that's the problem.

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Speaker 1: Okay again, sure I'm not poo pooing two hundred bucks

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Speaker 1: a month. Please don't get me wrong, but I'm saying,

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Speaker 1: you know, that's not oh my god, all my problems

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Speaker 1: are solved. It's no. So you're not saving that much.

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Speaker 1: It's not like you're going I don't know from twenty

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Speaker 1: five hundred state, I don't know, two thousand, we go, whoa,

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Speaker 1: that's a five hundred dollars. Okay, that's that's pretty good.

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Speaker 1: So you're not really saving that much. And here's the kicker,

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Speaker 1: and this is why I really don't like it. You

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Speaker 1: end up that house which you started off it was

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Speaker 1: four hundred and fifteen thousand dollars because now the banks

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Speaker 1: are taking a much bigger risk. It's a fifty not

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Speaker 1: a thirty. It's a fifty year mortgage. So the possibilities

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Speaker 1: now of you walking away from your payments, of you

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Speaker 1: being delinquent on that mortgage, of you being able to

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Speaker 1: consistently pay that mortgage over you know, basically your lifetime.

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Speaker 1: You know, you start at twenty five thirty, you're gonna

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Speaker 1: pay the mortgage, and you're basically at eighty eighty five

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Speaker 1: years old. That's your whole that's your whole life that

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Speaker 1: goes up much higher that you're gonna be delinquent or

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Speaker 1: not be able to make your payments. So the banks

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Speaker 1: are gonna charge much higher interest, there's no question because

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Speaker 1: they're taking a much higher risk. Well guess what the

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Speaker 1: higher interest is gonna amount to? An extra Listen to

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Speaker 1: this three hundred and seventy nine thousand dollars. Well, do

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Speaker 1: the math. You now suddenly you don't owe four fifteen

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Speaker 1: You now owe eight hundred thousand dollars with all that

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Speaker 1: extra interest. So what you're really doing is you're not

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Speaker 1: paying the principle off your loan. You're paying basically, it's

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Speaker 1: almost like you're paying most of the interest every month

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Speaker 1: with a little bit off the principle. It's it's a

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Speaker 1: form of debt slavery. I'm sorry. So I'm like, so,

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Speaker 1: let me get this straight. I get a fifty year mortgage,

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Speaker 1: so basically I'm spending my whole life trying to pay

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Speaker 1: off this home. And the banks make so much freaking

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Speaker 1: money off of this that it's almost double the price

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Speaker 1: of the home. So I buy the home at four

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Speaker 1: point fifteen, and you tack on an extra three hundred

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Speaker 1: and seventy nine thousand dollars in interest. Nah, I'm good,

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Speaker 1: I'm good. No, I'm Would you take this? I wouldn't

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Speaker 1: take It's like what they do now with cars. They go, well,

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Speaker 1: i'll get you a much lower monthly payment. You're like,

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Speaker 1: because you're like, well, I can't afford these, you know which.

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Speaker 1: Let's say I want to buy a you know, an

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Speaker 1: ordinary whatever, a grand dam they just don't pick your car, okay, so,

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Speaker 1: or a four tourists or whatever. So I want to

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Speaker 1: buy a car, Well, I can't afford this payment. Well,

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Speaker 1: i'll tell you what we're gonna do. Instead of having

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Speaker 1: you pay it off in five years, we're gonna drive

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Speaker 1: this thing out to ten years. And you're like, wow, okay,

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Speaker 1: and look at your payment, uh huh.

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Speaker 3: Suddenly now it's I don't know, it's thirteen hundred a month.

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Speaker 3: It was two thousand, but now it's thirteen or fourteen hundred. Yeah,

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Speaker 3: but now you're paying this thing off over ten years.

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Speaker 3: In many cases, the car is not even working anymore,

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Speaker 3: and you still owe on the car.

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Speaker 1: It's a raw deal and all you're doing is now

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Speaker 1: paying for a lot more interest. So the whole thing

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Speaker 1: is a scam. And in the end, who wins? Is

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Speaker 1: it the buyer?

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Speaker 2: No?

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Speaker 1: Is it the consumer?

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Speaker 2: No?

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Speaker 1: The banks, the too big to fail banks, they walk

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Speaker 1: away like bandits. And so I understand the intent. I

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Speaker 1: honestly I appreciate the intent. I do. I know Trump

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Speaker 1: is trying to bring costs down, and he's thinking, well,

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Speaker 1: let's get you know, let's knock this thing down a

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Speaker 1: couple hundred bucks. But a fifty year mortgage. I'm sorry,

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Speaker 1: Now you may disagree with me. I'm just speaking from

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Speaker 1: the heart. I wouldn't take a fifty year mortgage, and

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Speaker 1: I think it brings way too much risk into the system.

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Speaker 1: I think it's you know, did the housing market the

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Speaker 1: collapse in two thousand and eight, two thousand and nine,

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Speaker 1: teach us nothing. I don't want to start. You know,

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Speaker 1: this casino housing where you're putting people in in mortgages

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Speaker 1: that they really can't pay, and they say, well, let's

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Speaker 1: just extend it then over fifty years, because ultimately they're

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Speaker 1: in a home that's just too expensive for them. Well,

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Speaker 1: eventually they're not going to be able to make their

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Speaker 1: payments because they're just not qualified to be in that

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Speaker 1: home period full stop. Now listen to President Trump. He

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Speaker 1: was asked by It was on Fox about the idea

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Speaker 1: of a fifty year mortgage. He says he likes it.

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Speaker 1: He and his team are seriously thinking about pushing this

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Speaker 1: and making it available to everybody. And he says, look,

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Speaker 1: it's no big deal. I just want to lower your

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Speaker 1: what you pay every single month roll cut twenty five. Mike,

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Speaker 1: it's not even a big deal.

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Speaker 4: I mean, you know, you go from forty to fifty

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Speaker 4: years and whatever is is you pay, you pay.

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Speaker 5: Something less from thirty that some people had a forty

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Speaker 5: and then that now they have a fifty.

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Speaker 2: All it means is you pay.

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Speaker 6: Less per monthy paid over a longer period of time.

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Speaker 1: It's not like a big factor. I mean, he's right

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Speaker 1: in the sense that you're not saving that much money,

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Speaker 1: you know. But he goes, I'm trying to help in

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Speaker 1: every little bit. That's what he's trying. What he's saying

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Speaker 1: is every little bit helps. Okay, I guess, But man,

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Speaker 1: I don't know about you. Do you want to be

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Speaker 1: paying your home for fifty years? Do you want to

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Speaker 1: be paying that much interest to the banks? Six one, seven,

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Speaker 1: two six six sixty eight, sixty eight is the number. Okay,

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Speaker 1: very very quickly, because the lines are jammed. I want

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Speaker 1: you to listen now to Kevin Hassett. He is the

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Speaker 1: head of the White House Economic Council. He is a

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Speaker 1: big supporter of this idea, and he is asked by

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Speaker 1: many now in the media. He says, outside the White

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Speaker 1: House of a press briefing, how serious is President Trump

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Speaker 1: and the administration looking at rolling out fifty year mortgages

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Speaker 1: and making them available to especially first time home buyers.

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Speaker 1: Listen now to Haset's response, roll cut twenty eight mic.

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Speaker 6: How seriously is that being considered by the administration. Again,

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Speaker 6: the issue is.

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Speaker 4: That under President Biden, marg rates went up by about

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Speaker 4: four percentage points, and that about double the typical monthly

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Speaker 4: mortgage payment. And because of that, we've seen like a

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Speaker 4: real sharp production and first time home buyers especially, and

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Speaker 4: also a reduction in people's willingness to move.

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Speaker 7: And it's something that.

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Speaker 6: We take very seriously as a policy challenge.

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Speaker 4: And extending the length of mortgages can reduce monthly payments.

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Speaker 6: By hundreds of dollars, and it's something we're taken.

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Speaker 1: Very seriously now by the way. I mean, I'm not

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Speaker 1: a big fan of the fifty year mortgage obviously, but

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Speaker 1: he's right. I mean, you know, to me, it was

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Speaker 1: the excessive spending under Biden that led to massive inflation,

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Speaker 1: which then meant they had to massively raise interest rates, okay,

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Speaker 1: to control the problem that they created. And that's a

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Speaker 1: major reason why Holmes became so expensive, because the interest

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Speaker 1: rates skyrocketed, especially the mortgage rates. So to me, the

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Speaker 1: answer is lower the interest rates. Now, I know Trump

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Speaker 1: can't do it, you know, with a magic wand he's

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Speaker 1: got you know, he's got Jerome Powell who's deliberately now

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Speaker 1: slowly starting to lower rates. But the rates should be

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Speaker 1: coming down much faster. So we got to get rid

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Speaker 1: of him as the chair of the Federal Reserve, which

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Speaker 1: is going to happen soon anyway, because his tenure is up.

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Speaker 1: What is it next early next year. But to me,

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Speaker 1: the answer then is lower the rates. Get a Federal

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Speaker 1: Reserve chairman. By the way, Kevin Hasset is one of

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Speaker 1: the top contenders. Put Kevin in there and have him

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Speaker 1: lower the rates. That would be my answer. Now, let

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Speaker 1: me just play one other cut and then I promise

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Speaker 1: I'm going to go to the phone lines. Uh six

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Speaker 1: seven two six six sixty eight sixty eight, Okay, roll

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Speaker 1: cut twenty nine, Mike, wouldn't.

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Speaker 6: It be the same as essentially ranking and howard homeowners

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Speaker 6: build equities.

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Speaker 4: No, it wouldn't, because you would basically build equity, first

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Speaker 4: of all, a little slower because it's fifty years is

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Speaker 4: said of thirty years or fifteen years.

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Speaker 6: Fifty years fixed U off.

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Speaker 4: A great way to build early equity. But don't forget that,

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Speaker 4: you get the equity of the price goes up on

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Speaker 4: average prices of TENDA data preset.

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Speaker 6: So I don't think that the absence of equity is

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Speaker 6: a serious concern about this.

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Speaker 1: And the bottom line.

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Speaker 4: Is that we need to The average age of a

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Speaker 4: first hide book buyer has gone up by about ten years.

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Speaker 4: Just a few said it's something that we're very serious

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Speaker 4: about addressing.

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Speaker 1: Oh, I mean, I believe he's serious, no question. The

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Speaker 1: question is is this the solution? But basically, look, he's asked,

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Speaker 1: isn't this basically yeah, technically you own a home, But

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Speaker 1: isn't just like it's like renting with no equity, you know, essentially,

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Speaker 1: And he says, well, no, that's not really true. He says,

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Speaker 1: because you know, we believe that the house is going

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Speaker 1: to appreciate in value over time. So as it appreciates

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Speaker 1: in value over time, you'll eventually start building a little

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Speaker 1: bit of equity, and you know, and then maybe you

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Speaker 1: can resell it or whatever and make a little bit

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Speaker 1: of a profit and so and maybe get you off

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Speaker 1: to another mortgage that say it's thirty years or twenty

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Speaker 1: five years or twenty years. So he's saying, but what

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Speaker 1: we want to do is we want to drive down

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Speaker 1: monthly payments. That's our goal. So now, to me, the

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Speaker 1: flaw in that argument, and that's it. I don't want

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Speaker 1: to say anymore because I want to go to the

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Speaker 1: phone lines. And in fact, Grace and I were have

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Speaker 1: this very discussion yesterday. She said, well, Jeff, I don't

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Speaker 1: know why you're opposed to this. She said, you know

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Speaker 1: what's the problem. You get into a home, you make

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Speaker 1: your lower monthly payments, it appreciates in value over time.

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Speaker 1: As it appreciates and appreciates and appreciates, then you can

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Speaker 1: sell it, make a little bit of a profit, and

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Speaker 1: get into a better situation for you and your family.

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Speaker 1: And my counter argument was, I go, I hear you. However,

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Speaker 1: you're assuming the house is going to appreciate. Here, let

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Speaker 1: me just be brutally honest with you. We bought an

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Speaker 1: investment property in Maryland and it was a town home.

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Speaker 1: I mean, we still own it, but we thought, oh,

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Speaker 1: this is going to be great. It's going to appreciate it.

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Speaker 1: You know, it's going to appreciate in value and keep

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Speaker 1: going up. No, the value actually started to go down.

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Speaker 1: It dropped about forty to sixty thousand dollars, and then

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Speaker 1: over many years is started to climb up, climb up,

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Speaker 1: climb up. Only about a year or two ago has

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Speaker 1: it finally now appreciated enough in value that it's actually

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Speaker 1: worth a little bit more than what we initially paid

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Speaker 1: for it. And what was this maybe fifteen years ago.

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Speaker 1: So what I'm saying is you're just assuming that this

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Speaker 1: thing is going to take off like Gangbusters and it's

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Speaker 1: going to go up fifty thousand, one hundred thousand, one

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Speaker 1: hundred and fifty thousand. No, I'm sorry again, that's a

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Speaker 1: casino style mentality. Nobody knows what the future holds, so

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Speaker 1: you have to to me, I'm a realist when it

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Speaker 1: comes to money. It's very simple. Can we make payments

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Speaker 1: on a mortgage, yes or no? And can we sustain

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Speaker 1: this over a fifty year period? Yes or no? And

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Speaker 1: do I want to pay that much interest on any loan?

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Speaker 1: And to me, the answer is no.

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Speaker 2: No.

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Speaker 1: Oh, I'm telling you over I would I would rather

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Speaker 1: shoot myself in the head than take a fifty year mortgage.

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Speaker 1: I'm obviously exaggerating for effect. I don't want to shoot

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Speaker 1: myself in the head, you know, But I'm just saying like,

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Speaker 1: I'd be like, hell if Grace and I were at

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Speaker 1: the bank and be like, oh, we really want this home. Oh,

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Speaker 1: we really want it. You know, the down payment, we

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Speaker 1: can squeeze it, but damn these monthly payments. Well, hey, hey,

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Speaker 1: don't pay twenty five hundred. I can get you in

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Speaker 1: at twenty three or even twenty two fifty. Come on,

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Speaker 1: you can swing it. And I'd be like, hold on,

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Speaker 1: what fifty years? Fifty years? I'm not even sure I'll

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Speaker 1: be alive in fifty years. No, but that's me I

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Speaker 1: want to hear from you. Six one seven two six

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Speaker 1: six sixty eight sixty eight is the number, okay. It

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Speaker 1: is the Cooner Country Pole Question of the Day, sponsored

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Speaker 1: by Marios Marios quality roofing, siding, and windows. Would you

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Speaker 1: buy a home or refinance your home with a fifty

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Speaker 1: year mortgage? If you have that option and now they're

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Speaker 1: seriously considering giving that option and underwriting the banks. That's

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Speaker 1: the key. The banks are demanding fine, but you got

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Speaker 1: underwrite us. In other words, the federal government has to

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Speaker 1: come in and say, hey, if people start not making

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Speaker 1: their payments, if they get delinquent on these mortgage payments,

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Speaker 1: you know the banks are going to be technically on

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Speaker 1: the hook for the money. The government is coming in

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Speaker 1: and it's going to say, no, we're going to backstop you.

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Speaker 1: So ultimately the taxpayers are going to be on the hook.

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Speaker 1: So the question I have for you is would you

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Speaker 1: buy a home or refinance your home with a fifty

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Speaker 1: year mortgage to get slightly lower monthly payments about two

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Speaker 1: hundred bucks a month? A yes, B no. You can

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Speaker 1: vote on our web page w r KO dot com

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Speaker 1: slash cooner w r KO dot com slash cooner k

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00:27:13,760 --> 00:27:17,439
Speaker 1: U h n E R. You can also vote on

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00:27:17,840 --> 00:27:21,120
Speaker 1: X and again I was active on X yesterday. All

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00:27:21,200 --> 00:27:26,080
Speaker 1: one word that's my handle. One word at the Cooner report.

430
00:27:26,520 --> 00:27:30,000
Speaker 1: K U h n E r I am not just

431
00:27:30,080 --> 00:27:34,159
Speaker 1: a hell no on a fifty year mortgage over my

432
00:27:34,280 --> 00:27:39,520
Speaker 1: dead body. No, but that's me Lisa in mithu n

433
00:27:39,640 --> 00:27:41,800
Speaker 1: You're gonna kick us off, Lisa, and welcome.

434
00:27:42,760 --> 00:27:44,880
Speaker 2: Good morning, Jeff. It was good seeing me a couple

435
00:27:44,920 --> 00:27:48,320
Speaker 2: of weeks ago at the Kelly Kelly events. So I'm

436
00:27:48,359 --> 00:27:51,360
Speaker 2: calling you from my retirement home in the future in Florida.

437
00:27:51,920 --> 00:27:53,520
Speaker 2: But I called.

438
00:27:55,320 --> 00:27:58,159
Speaker 1: Lisa. I want to forgive me. That was my bad.

439
00:27:58,560 --> 00:28:00,760
Speaker 1: I didn't hear Mike. Mike was telling me we had

440
00:28:00,800 --> 00:28:03,359
Speaker 1: to go to break because it is so sad. I

441
00:28:03,400 --> 00:28:05,560
Speaker 1: want to go back to Lisa and Methuen. But just

442
00:28:05,640 --> 00:28:08,120
Speaker 1: before I go back to you, Lisa, by the way,

443
00:28:08,160 --> 00:28:11,719
Speaker 1: six point fifty now on the Great WRKO, Jeff Cohner,

444
00:28:11,840 --> 00:28:15,360
Speaker 1: Boston's Bulldozer. I mean this really, I think just now,

445
00:28:15,480 --> 00:28:18,240
Speaker 1: Mike and I had a brief exchange before we went

446
00:28:18,280 --> 00:28:21,200
Speaker 1: back on air, and this really sums it all up,

447
00:28:21,240 --> 00:28:23,880
Speaker 1: and it's it's really sad. Mike. I mean, I don't

448
00:28:23,880 --> 00:28:25,840
Speaker 1: want to give away his age, but he's basically now

449
00:28:25,880 --> 00:28:29,240
Speaker 1: into his late twenties, okay, And you know when I

450
00:28:29,320 --> 00:28:32,800
Speaker 1: was growing up and for most of American history, that

451
00:28:33,000 --> 00:28:35,960
Speaker 1: was basically the age you bought your first home, right,

452
00:28:36,040 --> 00:28:39,080
Speaker 1: you know, twenty eight, twenty nine, thirty, you know something,

453
00:28:39,200 --> 00:28:42,840
Speaker 1: thirty one whatever. So you know, Mike is now in

454
00:28:42,880 --> 00:28:46,840
Speaker 1: that age rage, so that age range. So I asked him,

455
00:28:47,320 --> 00:28:49,160
Speaker 1: I said, you know, Mike, are you are you a

456
00:28:49,200 --> 00:28:53,520
Speaker 1: fifty year mortgage guy? Like, you know, would you pay

457
00:28:53,800 --> 00:28:55,760
Speaker 1: for you would you get a home, first time home

458
00:28:56,120 --> 00:28:58,000
Speaker 1: and you know, and put a fifty year mortgage on

459
00:28:58,040 --> 00:29:02,480
Speaker 1: your back? He said, to be honest, yeah, he goes.

460
00:29:02,720 --> 00:29:06,440
Speaker 1: To be honest, buying a house is so expensive now

461
00:29:07,080 --> 00:29:11,120
Speaker 1: for his generation. It's it's like you don't even think

462
00:29:11,120 --> 00:29:15,640
Speaker 1: about it. It's just you don't even consider it. Like

463
00:29:15,800 --> 00:29:20,120
Speaker 1: thirty year mortgage, fifty year mortgage, fifteen year mortgage, twenty

464
00:29:20,200 --> 00:29:23,520
Speaker 1: year mortgage, twenty five year more. Like we just it's

465
00:29:23,560 --> 00:29:27,680
Speaker 1: so expensive. I'm you know, no, really, it's like if

466
00:29:27,720 --> 00:29:30,959
Speaker 1: we could just get out of our parents' home and

467
00:29:31,240 --> 00:29:34,080
Speaker 1: get out on our own and just even rent, and

468
00:29:34,320 --> 00:29:39,000
Speaker 1: rent is also extremely expensive. So this is what I mean.

469
00:29:39,120 --> 00:29:42,320
Speaker 1: It's almost like we don't even come fifty years, thirty years,

470
00:29:44,280 --> 00:29:47,440
Speaker 1: We just can't afford it because everything's gotten just the

471
00:29:47,600 --> 00:29:51,400
Speaker 1: cost has just exploded. And that to me is it's

472
00:29:51,520 --> 00:29:55,080
Speaker 1: very sad that it's very, very sad. Six one seven

473
00:29:55,320 --> 00:29:59,360
Speaker 1: two six six sixty eight sixty eight is the number. Okay,

474
00:29:59,440 --> 00:30:02,920
Speaker 1: let's go right back to Lisa and Methuen. Lisa, you

475
00:30:03,000 --> 00:30:06,920
Speaker 1: have two residences. You are now in your second residence

476
00:30:07,000 --> 00:30:09,880
Speaker 1: in Florida. Please pick up where you left off.

477
00:30:10,760 --> 00:30:16,240
Speaker 2: Okay, So being a Massachusetts resident because I'm gonna go

478
00:30:16,280 --> 00:30:20,360
Speaker 2: at least another six years before retirement, Jeff, I will

479
00:30:20,400 --> 00:30:25,560
Speaker 2: not be able to stay in Massachusetts due to the

480
00:30:25,560 --> 00:30:28,120
Speaker 2: cost of the taxes. It's not even just the interest

481
00:30:28,200 --> 00:30:32,040
Speaker 2: rates of the bank or the over priced houses. For example,

482
00:30:32,480 --> 00:30:35,360
Speaker 2: in my town of Thun, our interest rate is one

483
00:30:35,400 --> 00:30:38,960
Speaker 2: point zero seven, I mean tax rate, and in Florida,

484
00:30:39,480 --> 00:30:41,880
Speaker 2: the town I'm in now is zero point in two.

485
00:30:42,880 --> 00:30:45,720
Speaker 2: My nephew, who's thirty years old, still was at home

486
00:30:45,840 --> 00:30:49,160
Speaker 2: with my system because he's been looking at property, and

487
00:30:49,200 --> 00:30:51,920
Speaker 2: it's what if he goes in New Hampshire, he's going

488
00:30:52,000 --> 00:30:54,960
Speaker 2: to have a longer commute because he's a physical therapist.

489
00:30:55,000 --> 00:30:58,840
Speaker 2: Goes into Boston or and he could find maybe something

490
00:30:58,880 --> 00:31:04,640
Speaker 2: pretty decent. But it's the interest rate. This fifty year mortgage.

491
00:31:04,800 --> 00:31:07,280
Speaker 2: When I bought my house off my family and when

492
00:31:07,320 --> 00:31:10,440
Speaker 2: my dad passed. I bought it for two forty at

493
00:31:10,480 --> 00:31:15,000
Speaker 2: an interest rate of six point seven. Say we refinanced

494
00:31:15,080 --> 00:31:19,040
Speaker 2: in two thousand and twenty one at two point seven

495
00:31:19,160 --> 00:31:22,600
Speaker 2: five to fifteen years. My house from two forty is

496
00:31:22,640 --> 00:31:25,520
Speaker 2: now worth seven fifty. I'm in a good position. I

497
00:31:25,560 --> 00:31:28,520
Speaker 2: could sell my home. I could easily pay cash in

498
00:31:28,560 --> 00:31:30,920
Speaker 2: Florida when I want to retire if I want another house.

499
00:31:31,520 --> 00:31:35,040
Speaker 2: But for people like my son and my nephew, there

500
00:31:35,120 --> 00:31:38,880
Speaker 2: is absolutely no way with the price of the houses,

501
00:31:39,360 --> 00:31:42,360
Speaker 2: the taxes constantly going out. My taxes for my house

502
00:31:42,640 --> 00:31:46,040
Speaker 2: when I first bought it a Mathuin was twenty eight hundred,

503
00:31:46,400 --> 00:31:51,080
Speaker 2: it's now sixty eight hundred dollars. There's no way that

504
00:31:51,240 --> 00:31:55,000
Speaker 2: a young person can afford to buy a house. And that, Jeff,

505
00:31:55,280 --> 00:31:59,520
Speaker 2: has to do with both parties, Republican and Democrats. My

506
00:32:00,600 --> 00:32:02,480
Speaker 2: house's most thor and I have it, send it upstairs.

507
00:32:02,920 --> 00:32:06,040
Speaker 2: I only charge your seventeen hundred. I could easily get

508
00:32:06,120 --> 00:32:09,959
Speaker 2: fifteen hundred. But I'm trying to help others who are

509
00:32:11,440 --> 00:32:13,840
Speaker 2: struggling to get by. And the only way it's going

510
00:32:13,880 --> 00:32:16,640
Speaker 2: to happen, Jeff, is they have to lower the cost

511
00:32:16,720 --> 00:32:20,080
Speaker 2: of what the interest rate is, the cost of housing.

512
00:32:20,440 --> 00:32:23,080
Speaker 2: And we know in Massachusetts that's not going to happen.

513
00:32:23,240 --> 00:32:26,400
Speaker 2: So Trump really needs to come up with a better

514
00:32:26,520 --> 00:32:29,280
Speaker 2: plan because fifty years is not going to do it.

515
00:32:29,320 --> 00:32:31,880
Speaker 2: You're going to bay three times the amount of what

516
00:32:32,000 --> 00:32:34,240
Speaker 2: your house is ever worth, and you'll be like upside

517
00:32:34,280 --> 00:32:36,280
Speaker 2: down with the copy. I want to let you go

518
00:32:36,440 --> 00:32:38,200
Speaker 2: and I just want to hear your thoughts. Keep doing

519
00:32:38,240 --> 00:32:40,080
Speaker 2: a good job, Jeff, Thank you, thank you, thank you.

520
00:32:40,160 --> 00:32:41,600
Speaker 1: Lisa, and thank you for sharing that.

521
00:32:42,040 --> 00:32:42,200
Speaker 2: Well.

522
00:32:42,240 --> 00:32:45,480
Speaker 1: Look, that's the other thing is the property taxes. I

523
00:32:45,560 --> 00:32:49,080
Speaker 1: mean they're punishing. Look really, I mean it's by the way,

524
00:32:49,120 --> 00:32:51,640
Speaker 1: it's not just a Massachusetts thing. I mean, it really

525
00:32:51,720 --> 00:32:54,440
Speaker 1: is just across the country. I mean there's some states

526
00:32:54,480 --> 00:32:57,880
Speaker 1: it's not so bad, but overall everybody says it's not

527
00:32:58,160 --> 00:33:00,880
Speaker 1: just the cost of the home that are getting more

528
00:33:00,920 --> 00:33:05,520
Speaker 1: and more expensive. It's the property taxes, and they just

529
00:33:05,640 --> 00:33:08,160
Speaker 1: keep going up and up and up.

530
00:33:09,040 --> 00:33:09,080
Speaker 2: No.

531
00:33:09,320 --> 00:33:12,080
Speaker 1: Look, and what this is to me, there are two

532
00:33:12,320 --> 00:33:15,760
Speaker 1: three things to do to solve this very quick. One,

533
00:33:16,520 --> 00:33:19,640
Speaker 1: get someone like Kevin has sit frankly in there a fedchair.

534
00:33:20,400 --> 00:33:24,920
Speaker 1: Lower those freaking interest rates. Okay that number one. Number Two,

535
00:33:25,640 --> 00:33:31,920
Speaker 1: supply forget you know, on the demand side supply, build

536
00:33:32,360 --> 00:33:38,760
Speaker 1: more homes period and make it profitable. In other words,

537
00:33:38,840 --> 00:33:42,880
Speaker 1: take off the regulations, take off the red tape, take off.

538
00:33:42,920 --> 00:33:45,920
Speaker 1: You know, these homebuilders say, my god, they tie our hands.

539
00:33:45,960 --> 00:33:48,440
Speaker 1: You wouldn't believe it. It's impossible to put up homes

540
00:33:48,520 --> 00:33:52,240
Speaker 1: or a community or whatever because you've got to deal with,

541
00:33:52,680 --> 00:33:56,360
Speaker 1: you know, the federal government, the state government, the local government,

542
00:33:56,480 --> 00:33:57,760
Speaker 1: the local bureaucracy.

543
00:33:58,200 --> 00:33:58,440
Speaker 7: They go.

544
00:33:58,520 --> 00:34:01,160
Speaker 1: You don't understand. It's just after while, Hey, it's a hassle.

545
00:34:01,600 --> 00:34:05,400
Speaker 1: It takes forever to build, and it becomes so expensive

546
00:34:05,520 --> 00:34:07,600
Speaker 1: to build, which is why everything is getting more and

547
00:34:07,640 --> 00:34:12,000
Speaker 1: more expensive. But if you could get the regulations off

548
00:34:12,040 --> 00:34:16,840
Speaker 1: their back and build up supply, well, obviously the more homes,

549
00:34:16,880 --> 00:34:19,279
Speaker 1: the prices start to go down. And this is the

550
00:34:19,320 --> 00:34:24,560
Speaker 1: big one, this is the elephant in the room. Illegal immigration.

551
00:34:26,480 --> 00:34:29,839
Speaker 1: Boston is exhibit A. Okay, but I can do city

552
00:34:29,920 --> 00:34:34,920
Speaker 1: after city when you bring in twenty million illegals in

553
00:34:35,080 --> 00:34:40,000
Speaker 1: four years, and you've got thirty to forty million illegals

554
00:34:40,080 --> 00:34:44,359
Speaker 1: in the country, and remember you're paying them to pay

555
00:34:44,440 --> 00:34:47,719
Speaker 1: the rent. Right, it's not as if they're sleeping on

556
00:34:47,800 --> 00:34:52,200
Speaker 1: the streets. So like in Massachusetts, more Heelly's giving them

557
00:34:52,280 --> 00:34:55,680
Speaker 1: thirty thousand dollars every two years to rent an apartment,

558
00:34:56,560 --> 00:34:59,480
Speaker 1: so they're going to go around and snatch all of

559
00:34:59,560 --> 00:35:03,320
Speaker 1: the apartm what does that do to rent? It drives

560
00:35:03,400 --> 00:35:06,920
Speaker 1: rent through the roof because now you've got all of

561
00:35:06,960 --> 00:35:09,759
Speaker 1: these millions and millions and millions of people competing for

562
00:35:09,920 --> 00:35:13,480
Speaker 1: housing and for rent and for rentals against you know,

563
00:35:13,880 --> 00:35:18,880
Speaker 1: ordinary American citizens and legal residents. So that's what's causing

564
00:35:18,960 --> 00:35:23,080
Speaker 1: the housing market to explode, and the rents that I

565
00:35:23,200 --> 00:35:27,399
Speaker 1: don't know how people afford. I'm being honest with you. Three.

566
00:35:27,640 --> 00:35:31,680
Speaker 1: I mean, I hear these horror stories. Three thousand a month,

567
00:35:31,800 --> 00:35:34,840
Speaker 1: three thousand, five hundred a month. You've got people in

568
00:35:34,920 --> 00:35:37,200
Speaker 1: their twenties like in a way, I mean to me,

569
00:35:37,560 --> 00:35:41,759
Speaker 1: socialism is never the answer. So I know, ultimately, I

570
00:35:41,880 --> 00:35:44,400
Speaker 1: never understand how somebody can vote for Momdani. But what

571
00:35:44,480 --> 00:35:46,920
Speaker 1: I'm saying is I can kind of get it a

572
00:35:47,000 --> 00:35:49,759
Speaker 1: little bit. I mean, they know, these people in their

573
00:35:49,800 --> 00:35:52,320
Speaker 1: twenties and thirties, say, there's four of us in an apartment.

574
00:35:53,280 --> 00:35:55,560
Speaker 1: That's the only way we can make it because the

575
00:35:55,640 --> 00:35:57,960
Speaker 1: rent is so high. I don't want to live with

576
00:35:58,040 --> 00:36:00,520
Speaker 1: three other strangers. In an apartment or even if friends

577
00:36:01,360 --> 00:36:05,320
Speaker 1: like come on, my parents had an apartment. They saved

578
00:36:05,360 --> 00:36:09,719
Speaker 1: some money and they got home. But that's the American dream. Well,

579
00:36:09,800 --> 00:36:11,640
Speaker 1: we can't even forget about owning a home. It's just

580
00:36:11,680 --> 00:36:14,239
Speaker 1: too expensive. Now you're lucky if you get out of

581
00:36:14,280 --> 00:36:18,879
Speaker 1: your parents's basement. Because you're right, Lisa, many many young

582
00:36:18,960 --> 00:36:23,160
Speaker 1: people today, and young is now thirty thirty two, thirty three,

583
00:36:23,360 --> 00:36:26,640
Speaker 1: thirty four, they're still living with their parents because they

584
00:36:26,719 --> 00:36:30,840
Speaker 1: can't afford it. Now it's let me get two or

585
00:36:30,880 --> 00:36:35,680
Speaker 1: three roommates and together we'll cobble together enough rent money

586
00:36:35,760 --> 00:36:39,279
Speaker 1: every single month because the rent is so expensive. Well, yeah,

587
00:36:39,800 --> 00:36:43,560
Speaker 1: because you're competing against an army of illegal aliens. So

588
00:36:45,200 --> 00:36:51,960
Speaker 1: just objectively imagine what would happen twenty thirty forty million

589
00:36:52,120 --> 00:36:58,560
Speaker 1: illegals suddenly gone, say you just snap your fingers and

590
00:36:58,640 --> 00:37:01,120
Speaker 1: they're automatically transper bored it to the country of their

591
00:37:01,200 --> 00:37:04,640
Speaker 1: origin where they came from. What do you think would happen?

592
00:37:06,600 --> 00:37:09,120
Speaker 1: You could just feel it. Oh my god, There'd be

593
00:37:09,160 --> 00:37:13,920
Speaker 1: apartments everywhere, There'd be vacancies everywhere. There'd be also a

594
00:37:14,000 --> 00:37:17,840
Speaker 1: lot less congestion, and also there'd be so much welfare,

595
00:37:18,080 --> 00:37:23,719
Speaker 1: more welfare, social services, money available for American citizens, and

596
00:37:23,840 --> 00:37:27,440
Speaker 1: our hospitals wouldn't be to the you know, overflowing, and

597
00:37:27,560 --> 00:37:30,480
Speaker 1: our schools wouldn't be overflowing. But let all that go,

598
00:37:31,280 --> 00:37:35,799
Speaker 1: look at the available supply in housing, Well, what would

599
00:37:35,840 --> 00:37:39,680
Speaker 1: that do? It would drop the price dramatically. It would

600
00:37:39,719 --> 00:37:44,440
Speaker 1: be normal, not the way it is now. You know,

601
00:37:44,800 --> 00:37:48,480
Speaker 1: people don't realize this. You can look it up even

602
00:37:48,560 --> 00:37:51,719
Speaker 1: in some of the poorest third world countries in the world.

603
00:37:51,800 --> 00:37:55,200
Speaker 1: Take Caracas. I'm just gonna use that as an example. Venezuela,

604
00:37:55,400 --> 00:37:59,400
Speaker 1: very poor country. Take a look what rents are in Caracas.

605
00:38:00,280 --> 00:38:05,759
Speaker 1: You're gonna say, how do people do this? So even

606
00:38:05,840 --> 00:38:10,000
Speaker 1: in very, very poor countries, because if there's so many

607
00:38:10,080 --> 00:38:18,719
Speaker 1: people rent housing expensive, it's skyrockets. Here's the difference. They're

608
00:38:18,920 --> 00:38:22,400
Speaker 1: used to sleeping ten, twelve, fifteen in a home or

609
00:38:22,480 --> 00:38:26,080
Speaker 1: in a a in a three bedroom or two bedroom.

610
00:38:27,280 --> 00:38:34,200
Speaker 1: We're Americans, okay, we're Westerners. We don't believe in packing

611
00:38:34,239 --> 00:38:37,719
Speaker 1: two three families in an apartment. I see this. It's

612
00:38:37,960 --> 00:38:41,320
Speaker 1: very common in Boston, in New York, in Chicago, in

613
00:38:41,600 --> 00:38:46,160
Speaker 1: La I could you know, many big cities. So yeah,

614
00:38:46,320 --> 00:38:49,799
Speaker 1: they can afford three four thousand dollars a month rent

615
00:38:50,680 --> 00:38:53,640
Speaker 1: or even to get a home together, because they come

616
00:38:53,719 --> 00:38:56,600
Speaker 1: in ten, twelve, fifteen, and you know, a father and

617
00:38:56,680 --> 00:38:59,040
Speaker 1: a mother, two kids take one bedroom. A father and

618
00:38:59,120 --> 00:39:02,680
Speaker 1: a mother, two kids the other bedroom. I don't want

619
00:39:02,719 --> 00:39:06,560
Speaker 1: to live like that. I'm sorry, I don't want a

620
00:39:06,600 --> 00:39:11,040
Speaker 1: third world life. To me, call me crazy. You have

621
00:39:11,400 --> 00:39:14,360
Speaker 1: the father, the mother, whatever, the husband, the wife, the

622
00:39:14,440 --> 00:39:18,960
Speaker 1: spouse whatever, the children. They rent the apartment, they alone

623
00:39:19,040 --> 00:39:21,480
Speaker 1: and they live in it. Well, who the hell can

624
00:39:21,520 --> 00:39:26,319
Speaker 1: pay three four thousand dollars for an apartment? Very few.

625
00:39:26,440 --> 00:39:29,640
Speaker 1: It's only for the elites. So what's happening is we're

626
00:39:29,680 --> 00:39:34,360
Speaker 1: creating an economy that is literally for the wealthiest and

627
00:39:34,480 --> 00:39:39,160
Speaker 1: for the illegals and the middle and working class were

628
00:39:39,239 --> 00:39:43,680
Speaker 1: the ones getting to quote Elizabeth Warren hammered, we're being

629
00:39:43,800 --> 00:39:48,800
Speaker 1: squeezed and to me, a fifty year mortgage you're just

630
00:39:48,840 --> 00:39:52,319
Speaker 1: putting a band aid. You're not solving anything. But that's

631
00:39:52,400 --> 00:39:58,600
Speaker 1: me agree, disagree. David in New Hampshire, Thanks for holding,

632
00:39:58,719 --> 00:39:59,880
Speaker 1: David and welcome.

633
00:40:01,360 --> 00:40:05,560
Speaker 7: Hey, good morning, jump Hi David. Yeah, I don't I

634
00:40:05,600 --> 00:40:08,040
Speaker 7: don't like the idea, right, I mean, if people want to,

635
00:40:08,400 --> 00:40:11,040
Speaker 7: you know, take a fifty of mortgage that that's on them.

636
00:40:11,960 --> 00:40:13,759
Speaker 7: But I mean think about it like this. I mean,

637
00:40:14,400 --> 00:40:16,640
Speaker 7: most people are firing at twenty years old, and at

638
00:40:16,719 --> 00:40:19,040
Speaker 7: twenty you'd be paying for it until you were seventy.

639
00:40:19,520 --> 00:40:21,279
Speaker 7: I mean, if you buy it when you're forty, what

640
00:40:21,520 --> 00:40:24,160
Speaker 7: happens when you when you want to retire? And you know,

641
00:40:24,239 --> 00:40:27,719
Speaker 7: most people at least that I know, they retire. I

642
00:40:27,800 --> 00:40:30,120
Speaker 7: mean their their income is a lot lower than when

643
00:40:30,160 --> 00:40:31,880
Speaker 7: they were working. I mean, how you how were you

644
00:40:31,960 --> 00:40:32,920
Speaker 7: going to afford it? Then?

645
00:40:33,560 --> 00:40:33,719
Speaker 2: You know?

646
00:40:33,880 --> 00:40:36,880
Speaker 7: And and and kay until you what ninety you know?

647
00:40:37,160 --> 00:40:39,840
Speaker 7: And uh, you stole my thunder there because I was

648
00:40:39,880 --> 00:40:41,960
Speaker 7: going to say, you know, three things in my mind

649
00:40:42,040 --> 00:40:45,360
Speaker 7: that would pitch this and you and you you already

650
00:40:45,360 --> 00:40:47,279
Speaker 7: mentioned it was illegal immigration, to get rid of all

651
00:40:47,320 --> 00:40:50,359
Speaker 7: the illegals, and that would that would you know, lower

652
00:40:50,440 --> 00:40:53,920
Speaker 7: the rents and everything else, lower the interest rate, and

653
00:40:54,320 --> 00:40:57,800
Speaker 7: get rid of pam bomb camp BONDI because until we

654
00:40:57,880 --> 00:41:04,160
Speaker 7: could well the one that will bomb repealed there, that's well,

655
00:41:04,200 --> 00:41:05,040
Speaker 7: you know, the actual.

656
00:41:05,160 --> 00:41:09,719
Speaker 1: Smith Month Act, the Smith Month Act m U n

657
00:41:09,880 --> 00:41:10,160
Speaker 1: d T.

658
00:41:15,200 --> 00:41:18,240
Speaker 7: It's stopping the deep days and without stopping and without

659
00:41:18,280 --> 00:41:21,759
Speaker 7: putting them, getting the media back to the truth. I mean,

660
00:41:21,920 --> 00:41:25,280
Speaker 7: the propaganda and everything. Nothing is going to change. Nothing

661
00:41:25,400 --> 00:41:28,360
Speaker 7: is going to ever change. And unless we can, you know,

662
00:41:28,520 --> 00:41:32,080
Speaker 7: take this country back, get rid of the illegals, like

663
00:41:32,160 --> 00:41:35,040
Speaker 7: you said, and lower the interest rate. I mean, I'm

664
00:41:35,800 --> 00:41:38,440
Speaker 7: I'm fifty four. I I don't own a hold. But

665
00:41:38,480 --> 00:41:42,120
Speaker 7: it's a mobile jet. Okay, it's tripled in value, but

666
00:41:42,280 --> 00:41:44,480
Speaker 7: that means nothing. It's not going to get me anything.

667
00:41:44,760 --> 00:41:48,680
Speaker 7: And there's no equity on a mobile hole. So you

668
00:41:48,760 --> 00:41:51,120
Speaker 7: know what I mean, it's like you just keep paying

669
00:41:51,160 --> 00:41:53,600
Speaker 7: and pay them. I don't even own the property jet.

670
00:41:53,680 --> 00:41:56,160
Speaker 7: They call it a co op. It's a trailer block.

671
00:41:56,239 --> 00:41:57,000
Speaker 2: Let's be realistic.

672
00:41:58,000 --> 00:42:01,280
Speaker 7: And you know, and I and I pay property taxes

673
00:42:01,520 --> 00:42:03,640
Speaker 7: just on the house because I don't know the property.

674
00:42:03,960 --> 00:42:07,799
Speaker 7: You know, I basically read the property and I mean,

675
00:42:07,920 --> 00:42:10,239
Speaker 7: and it went from eight hundred a months, I mean

676
00:42:10,280 --> 00:42:13,839
Speaker 7: eight hundred a year ten years ago to thirty two

677
00:42:13,960 --> 00:42:15,640
Speaker 7: hundred a year and I don't even know.

678
00:42:16,719 --> 00:42:19,319
Speaker 1: That's disgusting. I mean, that's that's what I mean. It's

679
00:42:19,360 --> 00:42:23,160
Speaker 1: highway robbery, and that's happening. It's not you know, if

680
00:42:23,160 --> 00:42:26,400
Speaker 1: it's any consolation, Uh, David, it's you know, it's not you.

681
00:42:26,560 --> 00:42:29,359
Speaker 1: It's it's happening all across the country. I mean, that's

682
00:42:29,440 --> 00:42:32,080
Speaker 1: I mean, that's what I mean. So you know, that's

683
00:42:32,480 --> 00:42:34,000
Speaker 1: and you know, and Mike was in my ear as

684
00:42:34,040 --> 00:42:36,719
Speaker 1: you were talking, you know, to reinforcing your point, because

685
00:42:36,719 --> 00:42:38,400
Speaker 1: you were saying, well, say you buy a home at

686
00:42:38,440 --> 00:42:39,719
Speaker 1: forty you're gonna what are you gonna have a home?

687
00:42:39,880 --> 00:42:42,120
Speaker 1: You know, until you what ninety years old? So Mike

688
00:42:42,200 --> 00:42:44,080
Speaker 1: said to me, because Mike's twenty seven to twenty eight.

689
00:42:44,520 --> 00:42:46,879
Speaker 1: And Mike says, Jeff, even if I got it now

690
00:42:48,120 --> 00:42:51,480
Speaker 1: right now, fifty year mortgage, I don't know if I'm

691
00:42:51,480 --> 00:42:53,759
Speaker 1: even gonna live that long. I mean, what am I

692
00:42:53,760 --> 00:42:57,120
Speaker 1: going to be seventy seven seventy eight? So you're dead

693
00:42:57,200 --> 00:43:01,400
Speaker 1: on David. You know, look I like the intention you

694
00:43:01,520 --> 00:43:04,880
Speaker 1: want to help lower prices, of course, but no, we

695
00:43:05,320 --> 00:43:09,080
Speaker 1: need something more serious than this. David, God bless you

696
00:43:09,280 --> 00:43:11,719
Speaker 1: and thank you for that call, my friend. Six one

697
00:43:11,880 --> 00:43:14,719
Speaker 1: seven two six six sixty eight sixty eight.

698
00:43:15,200 --> 00:43:15,359
Speaker 6: Oh.

699
00:43:15,440 --> 00:43:17,960
Speaker 1: Look, we're being dispossessed off of our own land and

700
00:43:18,040 --> 00:43:21,160
Speaker 1: off of our own country. I mean, I'm just that's

701
00:43:21,200 --> 00:43:26,360
Speaker 1: what's happening with illegal immigration, and they've rigged the entire

702
00:43:26,480 --> 00:43:30,319
Speaker 1: system to benefit them, and of course the wealthy oligarchs

703
00:43:30,360 --> 00:43:35,399
Speaker 1: who control both parties. So yeah, look, if you're look,

704
00:43:35,880 --> 00:43:38,440
Speaker 1: if you're let's say, if you're a hedge fund person,

705
00:43:39,239 --> 00:43:42,200
Speaker 1: if you're a high tech person, if you're in the

706
00:43:42,440 --> 00:43:47,160
Speaker 1: banking financial class, You've never made more money in your life,

707
00:43:48,160 --> 00:43:49,480
Speaker 1: So what do you care about inflation?

708
00:43:50,320 --> 00:43:50,440
Speaker 2: Oh?

709
00:43:50,520 --> 00:43:50,719
Speaker 7: Really?

710
00:43:50,880 --> 00:43:52,680
Speaker 1: Like, so what, Okay, I'll play three thousand a month,

711
00:43:52,719 --> 00:43:55,520
Speaker 1: What do I care? I mean, you're making millions, Oh

712
00:43:55,600 --> 00:43:58,920
Speaker 1: three thousand and four thousand, What do I care? I'm

713
00:43:59,000 --> 00:44:01,960
Speaker 1: making three four, five, six seven eight million dollars a year,

714
00:44:04,400 --> 00:44:07,680
Speaker 1: So yeah, what do I care? And if you're an illegal,

715
00:44:08,000 --> 00:44:11,880
Speaker 1: well you're getting subsidized by the government. And illegals they

716
00:44:12,000 --> 00:44:15,120
Speaker 1: live three four families in a redroom or sorry, in

717
00:44:15,160 --> 00:44:19,719
Speaker 1: an apartment, each family in a bedroom. So they're like, hey,

718
00:44:20,400 --> 00:44:23,560
Speaker 1: where they're from. And I'm not saying this as an insult,

719
00:44:23,640 --> 00:44:27,960
Speaker 1: It's just a statement of fact, you know, compared to Bolivia,

720
00:44:29,280 --> 00:44:34,960
Speaker 1: compared to Somalia, to Ethiopia, to Senegal. So they're like,

721
00:44:35,520 --> 00:44:38,279
Speaker 1: you're in heaven. You mean I get to stay in

722
00:44:38,360 --> 00:44:41,839
Speaker 1: a furnished apartment. You mean we actually get our own

723
00:44:41,920 --> 00:44:47,080
Speaker 1: bedroom with a mattress in beds and an actual roof

724
00:44:48,360 --> 00:44:51,840
Speaker 1: and heating in the wintertime, and centralized air conditioning in

725
00:44:51,880 --> 00:44:55,440
Speaker 1: this in the summertime, with a big flat screen television

726
00:44:57,080 --> 00:45:00,200
Speaker 1: with you know, we can you know, get laptop, some

727
00:45:00,360 --> 00:45:03,320
Speaker 1: cell phones and electricity and plug it into the wall.

728
00:45:03,440 --> 00:45:06,360
Speaker 1: And Okay, so what we're in a tight cram space.

729
00:45:06,840 --> 00:45:09,200
Speaker 1: We came from a tight cram space. But we're not

730
00:45:09,280 --> 00:45:14,239
Speaker 1: sleeping on dirt, we're not sleeping in a hut. So

731
00:45:14,719 --> 00:45:18,520
Speaker 1: for them, this is a massive increase in their standard

732
00:45:18,600 --> 00:45:23,719
Speaker 1: of living. For them, they've hit the lottery. But if

733
00:45:23,760 --> 00:45:27,200
Speaker 1: you're an American or a Canadian, or a Swede or

734
00:45:27,239 --> 00:45:30,480
Speaker 1: a German or a French or whatever, you're like, no, man,

735
00:45:30,560 --> 00:45:31,480
Speaker 1: I'm We're Western.

736
00:45:31,680 --> 00:45:32,040
Speaker 2: I know.

737
00:45:32,520 --> 00:45:36,160
Speaker 1: I'm sorry. We don't pack three four families into a

738
00:45:36,280 --> 00:45:41,040
Speaker 1: three bedroom apartment. That's that's not what we That's not

739
00:45:41,160 --> 00:45:45,879
Speaker 1: what we're about. And that's that's what's slowly happening. It's

740
00:45:45,960 --> 00:45:50,400
Speaker 1: the third worldization of our nation. That's what we have

741
00:45:50,520 --> 00:45:56,520
Speaker 1: to address. Agree, disagree. Lou in Rhode Island. Thanks for

742
00:45:56,680 --> 00:45:58,600
Speaker 1: holding Lou and welcome.

743
00:46:00,800 --> 00:46:01,279
Speaker 2: How they're doing.

744
00:46:01,360 --> 00:46:05,440
Speaker 5: Jeff, uh, you're you're right about the legals, uh to

745
00:46:05,600 --> 00:46:08,320
Speaker 5: you know, twenty bring twenty million people in the country,

746
00:46:08,880 --> 00:46:11,920
Speaker 5: and it's going to cost something, and especially if it's subsidized.

747
00:46:11,920 --> 00:46:13,719
Speaker 5: But here's what I want to say. There's two a

748
00:46:13,760 --> 00:46:15,759
Speaker 5: couple of really big points I want them to say. First,

749
00:46:16,080 --> 00:46:19,560
Speaker 5: First of all, the Democrats are going to run on affordability.

750
00:46:20,000 --> 00:46:23,359
Speaker 5: Where are the Blue states so much more affordable than

751
00:46:23,360 --> 00:46:25,800
Speaker 5: the red states? I mean, the affordability up here in

752
00:46:25,840 --> 00:46:28,120
Speaker 5: New England it is terrible. So what are they going

753
00:46:28,160 --> 00:46:30,640
Speaker 5: to brag about. It should be a paradise if Democrats

754
00:46:30,640 --> 00:46:33,239
Speaker 5: are in charge. And then they're and they make things

755
00:46:33,280 --> 00:46:36,560
Speaker 5: so affordable, which they don't. And it's even worse now

756
00:46:36,640 --> 00:46:41,960
Speaker 5: because remember Mandami, he defeated another Democrat and so now

757
00:46:42,040 --> 00:46:45,480
Speaker 5: then he has used to doing the communist thing for affordability,

758
00:46:45,480 --> 00:46:48,000
Speaker 5: which means the government's going to own everything and they're

759
00:46:48,000 --> 00:46:49,960
Speaker 5: going to dole out the houses and fix them up

760
00:46:50,239 --> 00:46:52,279
Speaker 5: and and and it's going to be terrible. And on

761
00:46:52,440 --> 00:46:55,360
Speaker 5: top of that, with him and and and Healy and

762
00:46:55,400 --> 00:46:58,960
Speaker 5: everybody else, they're making their states and their cities a

763
00:46:59,120 --> 00:47:01,480
Speaker 5: magnet for more legals to come in there because it's

764
00:47:01,520 --> 00:47:03,160
Speaker 5: going to be a paradise. He's going to protect them.

765
00:47:03,680 --> 00:47:05,560
Speaker 5: It's going to be terrible. It's gonna be even worse

766
00:47:05,600 --> 00:47:08,239
Speaker 5: than the Blue States. So that's that. But I want

767
00:47:08,239 --> 00:47:09,640
Speaker 5: to get to a couple of major points that I

768
00:47:09,680 --> 00:47:11,880
Speaker 5: think are important, because I think the legal thing is

769
00:47:12,239 --> 00:47:15,920
Speaker 5: very important. But the second thing is is that recently

770
00:47:16,000 --> 00:47:18,719
Speaker 5: Bill Gates came out and he said, oh, climate change

771
00:47:18,800 --> 00:47:21,239
Speaker 5: is no big deal. Look at all the money we

772
00:47:21,360 --> 00:47:24,799
Speaker 5: have put in regulations, we have put into climate change

773
00:47:24,920 --> 00:47:29,160
Speaker 5: over the years, especially under Biden. The new Green Deal

774
00:47:29,360 --> 00:47:32,319
Speaker 5: bill that they call the Anti Inflation Bill is eight

775
00:47:32,480 --> 00:47:36,759
Speaker 5: hundred and ninety one billion dollars, and that's to subsidize

776
00:47:36,800 --> 00:47:39,520
Speaker 5: all this screen stuff. Not only that, look at the

777
00:47:39,640 --> 00:47:43,600
Speaker 5: cost of energy. If more healing had not stopped those pipelines,

778
00:47:43,600 --> 00:47:46,439
Speaker 5: your energy prices would would have been down much lower

779
00:47:46,640 --> 00:47:49,160
Speaker 5: by now, way down lower. If we could have had

780
00:47:49,239 --> 00:47:52,640
Speaker 5: more nuclear and used more fossil fuels or energy would

781
00:47:52,680 --> 00:47:55,600
Speaker 5: be way lower. He's got Trump first of all. Number

782
00:47:55,600 --> 00:47:59,239
Speaker 5: one has to focus on energy. Get these energy costs down.

783
00:47:59,320 --> 00:48:02,480
Speaker 5: Force the blue They used to start bringing in more

784
00:48:02,640 --> 00:48:06,279
Speaker 5: energy cheaper, either through pipelines through nuclear. I have a

785
00:48:06,360 --> 00:48:09,640
Speaker 5: neighbor who worked in the energy business. He said, nuclear

786
00:48:09,719 --> 00:48:12,440
Speaker 5: is so much more advanced now. You can build big plants,

787
00:48:12,480 --> 00:48:15,160
Speaker 5: you can build small plants and they'll really reduce to

788
00:48:15,160 --> 00:48:17,600
Speaker 5: the cost of energy. It's much cleaner. Get rid of

789
00:48:17,960 --> 00:48:21,920
Speaker 5: all the green energy regulations that we have that drives

790
00:48:22,040 --> 00:48:24,759
Speaker 5: up the cost of housing. It's ridiculous. How much you

791
00:48:24,840 --> 00:48:26,399
Speaker 5: got to have solar, You got to have this, it's

792
00:48:26,400 --> 00:48:28,080
Speaker 5: got to be there, you got to be this. And

793
00:48:28,160 --> 00:48:31,000
Speaker 5: then it's like Thomas Ohl said, the regulations killed housing

794
00:48:31,080 --> 00:48:35,000
Speaker 5: in California. You've got to get these regulations down, especially

795
00:48:35,080 --> 00:48:37,720
Speaker 5: the green regulations that drive up the cost of housing

796
00:48:37,800 --> 00:48:40,320
Speaker 5: and bring the housing down. I mean, back in the fifties,

797
00:48:40,520 --> 00:48:42,480
Speaker 5: they used to be able to build things like Leavittown.

798
00:48:42,760 --> 00:48:44,400
Speaker 5: Remember I don't know if you know about Levittown, but

799
00:48:44,440 --> 00:48:45,920
Speaker 5: they used to build all these houses all over the

800
00:48:45,960 --> 00:48:48,560
Speaker 5: place that were affordable to people, that people could buy.

801
00:48:48,800 --> 00:48:49,200
Speaker 6: Oh no, I.

802
00:48:49,280 --> 00:48:51,160
Speaker 1: Remember, Oh, you're right. No, no, I mean I used

803
00:48:51,160 --> 00:48:54,040
Speaker 1: to teach that when I was at university, about Levittown

804
00:48:54,120 --> 00:48:58,319
Speaker 1: and just what it did for especially working middle class Americans.

805
00:48:58,960 --> 00:49:01,440
Speaker 1: They were suddenly able to get into a home, and

806
00:49:01,560 --> 00:49:05,520
Speaker 1: they were good quality homes, well built, and because they

807
00:49:05,600 --> 00:49:10,080
Speaker 1: had low regulations, and they encouraged builders to build and

808
00:49:10,239 --> 00:49:13,279
Speaker 1: to create these communities and just to piggyback off of

809
00:49:13,360 --> 00:49:17,360
Speaker 1: what you're saying, Lou about these red crippling regulations, the

810
00:49:17,520 --> 00:49:21,600
Speaker 1: fires in the Palisades, I think, what is it, ninety

811
00:49:21,680 --> 00:49:24,600
Speaker 1: nine percent of the homes haven't been rebuilt yet. I think,

812
00:49:24,640 --> 00:49:26,400
Speaker 1: what do they say, only two hundred or in the

813
00:49:26,480 --> 00:49:29,919
Speaker 1: process of rebuilding out of thousands and thousands of homes

814
00:49:29,960 --> 00:49:32,839
Speaker 1: that have been burned down. And when you say, well,

815
00:49:32,880 --> 00:49:37,160
Speaker 1: why to go all of the environmental regulations, all of

816
00:49:37,280 --> 00:49:41,960
Speaker 1: the permitting, all of the process, all of the regulations,

817
00:49:42,000 --> 00:49:45,800
Speaker 1: all of the paperwork, all of the so the builders

818
00:49:45,800 --> 00:49:49,719
Speaker 1: are saying it takes forever to rebuild, and this is

819
00:49:49,920 --> 00:49:56,000
Speaker 1: an emergency zone that was burned to the ground. Builders

820
00:49:56,080 --> 00:49:58,439
Speaker 1: in Massachusetts keep tell me if I'm wrong