Speaker 1: California's experience a housing crisis. Apparently Jeffrey Epstein's bought everything. Now. Normally,
Speaker 1: you would expect the market to be flooded with home
Speaker 1: builders eager to meet this rising demand. But California is
Speaker 1: not normal. It's run by leftists, so the opposite is happening.
Speaker 1: So far this year, California home builders have had twenty
Speaker 1: percent fewer new projects approved than last year. In Orange County,
Speaker 1: permits for future construction are down. There are a bunch
Speaker 1: of root causes. High taxes, ridiculous regulations, the high cost
Speaker 1: of land, labor, materials, Epstein's bought everything, expensive government fees.
Speaker 1: Builders that once made a profit on moderately priced housing
Speaker 1: have been stymied by environmentalist laws and neighborhood protests, and
Speaker 1: for already built houses, the prices astronomical perspective. Home buyers
Speaker 1: can now expect to pay one and a half million
Speaker 1: dollars for a sixteen hundred square foot house built a
Speaker 1: century ago. So for the time being, there's no light
Speaker 1: at the end of the tunnel for the thousands of
Speaker 1: California residents living in their cars, in their tents, in
Speaker 1: their sleeping bags or cardboard boxes. Yep it's bad, but
Speaker 1: just wait. It's a deep blue state. The Democrats run everything,
Speaker 1: which means things can only get worse for the people
Speaker 1: affected by this