There’s an affordability. This whole country is just falling apart. This whole country is just falling apart, man. You know, as I go through these subjects and I determine what it is that I want to talk about on the millionaire morning show, I’m gonna read that super chat shortly. This whole country is just falling apart. Story after story, situation after situation, housing affordability. And it’s so easy to profit off of this because I see where the duress is.

Right. And because when you see where the duress is, I’m going to get into the story shortly. I see where the duress is. Right. And when you start to really understand what happens, you really got a couple of different choices. Your first choice is, do you want to rail against it, understanding that you’re going to be like a small fish in a big pond of people that remain voluntarily ignorant, and then the powers that be laugh at it, or do you pivot and then you start taking advantage of it, right.

So it’s easy for me to see that it’s an affordability crisis. It’s also easy to see where all of these different things are taking place that then puts you in a space to where it’s going to be an affordability crisis. I’ve been telling you all for a long time, and I’ve been saying, listen, it’s going to be the haves and the have nots. It’s going to be the middle class.

It’s going away, and it’s going to be the have and the have nots, and it’s going to be a whole lot of have nots. And it’s not going to be a whole lot of haves. It’s going to be people that think that they have and they’re not really going to have because they really don’t understand stand how it works. And then they eventually going to be considered middle class.

And then it’s going to be half knots. I said, listen, $100,000 is going to be considered a lot of money. It’s not even going to be middle class. I’ve been saying this stuff for a long time, bro, a long time. And ultimately I want you guys to benefit from it because it. You’re going to have to pick a side, bro. Honestly, you’re just going to have to pick a side.

You’re going to have to pick whether or not you want to be poor or you want to be rich. You got to pick a side. You genuinely got to pick a side. California’s housing crisis hitting renters hard. A new report shows many people are spending half of their income on rent. Thanks for staying with us at 530. I’m Hunter sourd. And I’m Curtis Ming. CBS Thirteen’s Kayla molar is getting answers on how a shortage of homes is really driving up prices.

Kayla, we all know the 30% of your paycheck rule. It’s the sweet spot to spend on rent. But nowadays that number is much higher for many people, myself included. My rent is extraordinarily high for what I live in. This renter moved back to Sacramento last year after being gone for seven years. She says after shopping around for a place to live, she’s seen a dramatic increase in the cost of living in the area.

I’m definitely paying more than 30% now. It’s unaffordable. Yeah. It’s a story we keep hearing. It’s much more difficult than it used to be where you have a job at a grocery store and that makes everything work and that’s just not the environment we have right now. Local appraiser and housing analyst Ryan Lundquist says not enough homes are being built. We need both apartments and single family homes to be built to help alleviate pressure on rent and pressure on home prices.

The good prices. Let me give you all, I got some good news and some bad news for you. The good news is that they’re going to continue to build housing. The bad news is that the prices is not going to go down, they only going to continue to go up. I have a phenomenal relationship with every single tenant that I have. Right. And I’ve called them on this live stream, I’ve called different ones at different points or whatever, and they’re very thankful at the idea that I’ve never raised rent, not one time, for any tenant that I’ve ever had in my entire life.

Right. It’s so crazy. And I’ve developed such a reputation in my small community. Right. Because in the grand scheme of things, obviously I’m not a blackrock, but I own a significant amount of property. And when you’re living in a smaller town, even though I’m moving back to the city of Detroit, but I’m going to still be spending a lot of time out. Know, you get to know people.

I know the treasurer. I know. Know supervisor. I know all of the principals. I know everybody that owns a house that’s on a lake, all of that. Right. And it’s so interesting. And you develop such a reputation that the houses that I’m building right now, people are literally asking me. And I’ll give you an update. I’ll even show you a picture of what the current state of it is.

They’re actually out there working on it right now. As of yesterday. This is what the latest project, because I just started becoming a builder versus just buying them turnkey or whatever. People are literally already coming to me and saying, that’s in the community, and saying, hey, is this going to be a rental property or are you moving in here? And so I say, well, I’m going to rent it out to the people or whatever.

Can I get first dibs on it? We at least a couple of months away from even entertaining, putting it on the market, right. At least a couple of months away. This is what it currently looks like right now. Right. So they building it, send us snow, all of that, 100%. No financing, no banking, no bank, no bank loans, none of that. But it’s so bad out here to where I got people coming to me and trying to find my number to see if I’m going to make it available to the people because I’ve developed a reputation for being a good landlord and never raising a rent on the people, right.

And so when you get the pulse of what’s happening along with looking at the news, you start to find out that there’s a huge gap. Now, I understand the money aspect of it, right. And I could take a couple of different approaches, but I decided to do the same thing that I’ve been doing my entire life. And I’m always going to do the thing that’s ethical. And I think that you still can get rich and you still can make money as a result of it.

And this is the pathway that I try to advocate for my bag chasers. You can do it the right way, but you don’t have to continue to gouge people. You don’t have to raise their rent. You don’t have to do any of that. Sometimes you even have to take a hit up front. Okay, so I’m going to buy the whole thing. I’m going to put a whole bunch of money into this property I’m going to build.

It’s going to cost me all of this money, and I’m going to charge rent, but I’m a charge under what everybody else charges because I know that I want to keep my people in there for a long time or whatever, and I’m never going to raise the rents and until they move out, whatever, so on and so forth. And I’m building a brand new home for these people and I’m building multiple different properties at the same time.

And I’m going to profit and I’m going to be successful and I’m going to get all the tax write offs and I’m going to get richer as a result of it. But I don’t have to have them get poor renting from me. I don’t have to have them get poor renting from me. But we live in such a capitalistic society to where we don’t even look at the good parts of capitalism and we can do business the right way.

So now you have an affordability, Cris, where they’re teaching you, hey, listen, you supposed to spend at least 30% or up to 30% of your income on housing, whether you got a mortgage or rent. It’s BS. It’s the biggest BS that they’ve ever sold you. It’s BS. You are not supposed to be working for the next 30 years only to continue to refinance your home and have to pay for this for the rest of your life.

It’s BS. The number one thing that I would tell people to do is to stay home as long as you can. But I can’t have my independence. You can have being broke, split the costs over here in metro Detroit itself, over in Dearborn, where it has the largest arab population of the United States of America. You know what they do? They all live together until one of them saves up enough money to buy the entire property next door.

And then they go in there and then they all help out. One person own it. They all spend money with each other and then eventually they buy something else. They’re not sitting here spending a whole bunch of money in order to be able to purchase and mortgage the property. They buying a property, they tearing it down and then they building a huge house on top of it and then they all move in together.

And so you need to do the same thing, but at a smaller scale. Why are you so quick to try to push your kids out to the street? Why do your daughter got to go out there and live on campus? And you spend this extra money in order to take out money so that she can have student loans that she going to ask to be forgiven ten years from now? Why is it so bad for a man to live with his mom until he gets to a certain age to where he can just buy something cash and not have to worry about financing to a bank? Why do you all keep letting them market to you that you supposed to have a 30 year mortgage for the rest of your life? You buy a house at 35 and you supposed to be paying on it till you 65 years old.

That’s not cool. That’s not supposed to be your norm. Why are you not sharing costs and then allocating more money over to the thing that’s meaningful? But Anton, somebody got to keep the banks propped up, not you. Let that other sucker do it. I’m not about to go out here and mortgage one of my properties. I’m not about to pull money out of my property. For what? I don’t want to participate in the way that the banking system has marketed to you to continue to fund them so that they can go and spend more money and then make money off of you based off of the interest.

I’m not looking to do that. I want to be the lender, not the borrower. You should borrow other people’s money. No, I should lend other people money, and then I’m going to make the money off the interest. I don’t want to be a borrower. They keep telling you, look, use other people’s money to get rich. Well, why would I do that when I can use my own money to get richer? Why don’t we change our mindset to then have a different mentality? And even if it doesn’t come to me at a grand scale, guess what? My daughter will and my nephews will.

And that’s what generational wealth is, a mindset that ultimately trans. It’s just like the Bible. It says, faith without works is dead. The faith part is what you believe. The works is actually what you put into play. That’s what shows that you have faith. The generational wealth is the same thing as what the Bible said. They just remixed it and tried to make it prettier, to make you consume it a little bit, a little bit differently.

Generational wealth is a mindset. Faith is a mindset. The works is actually what you do in order to justify that, you got at least the faith of a mustard seed. That’s why they say faith without works is dead. They didn’t tell you that other part. So you think that generational wealth is just you generating money? It’s not. It’s the mindset to understand exactly what money is supposed to be and how you continue to leverage it, even generation after generation after generation.

But they’ll tell you, oh, man, 50%, 50% of your rent, 30% of what you make. This is the equation. There is no equation. The equation is not to have to pay nobody nothing in order for you to continue, or pay them very minimally so that you can go and do the things that you want to do. That’s the equation. That’s the ultimate equation. Good news is more homes were built last year than the year before.

The Sacramento region saw an increase of 1600 homes built from 2022 to 2023. But the bad news is it’s still not enough. It’s nice to see a glowing year of new construction, but we’re not building anywhere close to the number of units that we could have to make a difference. Lundquist blames high construction costs, difficult land permits, and a labor shortage for the lagging numbers. For example, back in 2002, Sacramento was seeing 9500 homes being built a year.

It’s tough to, I think, build fast in California, homes have been scarce, and so landlords are able to command more asking price for tenants. I would like to buy a home eventually, but that doesn’t account for the ridiculous prices of the market. A lot of people have similar feelings there. But Ryan Lundquist did make a point to assure me that the housing market is a cycle, right? So what goes up must come down.

But when you own it outright, you’re not worried about what comes down. And it is cyclical, but it’s not going to come down the way that you think it’s going to come down. It’s going to come down based off of the fact that you under duress and you can’t afford it, which then puts people in a position to have to drive the prices a little bit further down or move over into a place where they can’t afford it, and then they start to shack up with each other.

It’s silly. It’s the dumbest thing ever. We talk about housing. Financial experts often advise you that you should spend no more than one third of your pay on housing. But have you seen that they continue to program with you all program into you all the same thing, and then you know what will happen. The same thing that happens when women say, who hurt you? You going to go and regurgitate it to somebody else and you’re going to say, listen, you are only supposed to spend one third of your income, 33.

3% of your income, on housing. Lord, forgive them. They know not what they do. That doesn’t really fly around here. New data reveals renters in the East Bay are having the toughest time with this. Let’s bring in our investigative reporter, Hilda Gutierrez, who joins us with these details. Hilda? Yes, the government defines affordable housing as the costing no more than 30% of your income. But residents, the government, the government you are basing your narratives and your talking points based off of what the government determined what affordable housing is.

Did you realize that in the East Bay, where rent was once considered affordable? Tell us. They surpassed that percentage a long time ago. And the latest census data agrees. Like, when I say rent prices to you, what’s the first thing that comes to mind? A significant part of a paycheck? It’s too much. Really too much. Ridiculous. Ridiculous. Lakeisha Jones and her three children moved from San Francisco to Pittsburgh 13 years ago because living in the city was no longer affordable.

At the time, she says, prices in Pittsburgh seemed fair, but not anymore. People are scrambling, trying to figure out how to pay bills and how to. It’s going to happen everywhere. Y’all keep thinking that it’s only going to happen in Miami and New York and San Francisco and all of the different parts of California. Nope. It’s coming to your small town. You think you escaped it? You didn’t.

You didn’t. Because as they push, people, just, look, you know what’s happening in Florida right now. The people that were living in southern Florida, they’re being pushed up. And so now the people that’s in Orlando, they’re going up to, what is it? Jacksonville? Jacksonville people are going up to Atlanta. Atlanta people is going up to Tennessee. Tennessee people is going up to Ohio. Ohio people is going up to Chicago and Gary, Indiana.

And so they basically just pushing people out now. They over in Pittsburgh. People in New York and San Francisco, they moved over to Pittsburgh. Pittsburgh is a phenomenal city. It’s one of my favorite cities. They’re pushing you up and away from the places that you’re used to being. And so now everybody is scrambling just for survival. It’s all a trickled up, trickle down effect. It’s coming to your city.

It’s coming to your city. I’m telling you, it’s coming to your city. You can’t outrun it. It’s the same thing as trying to get rich. You can’t save your way to success and wealth. It’s coming to your city. Keep the lights on. Do I pay my car insurance or do I buy food? It’s almost kind of one of those type of things. And do you keep a roof over your head? New census estimates for 2022 show nearly three quarters, 73% of renters in Pittsburgh were burdened by housing cost, meaning they spend more than 30% of their income on rent.

Pittsburgh, top cities across the bay and sits fourth overall nationwide. They’re so high that I decided not to move here. How’s that? Arthur Rainey says when he was apartment hunting in Walnut Creek last November, he became so discouraged by the high rent, he decided to move out of state instead. I said, never mind, I won’t do that. I decided to just live in Omaha, Nebraska, and do my work out here.

And how much are you paying out there for something similar? Oh, actually it’s not even comparable. So I have a two bedroom penthouse condo out there for 2200 a month, 1500 sqft. When we looked at the cities with the highest rent burden in all of the Bay Area, three of the top ones were here in Contra Costa County. Pittsburgh and Walnut Creek both saw double digit increases in burden renters compared to pre pandemic estimates.

Antioch is the only city in the top five where the number. Actually, I get it. They talking about that Pittsburgh, I like the other Pittsburgh went down after the pandemic, but still enough burden renters to make the top five. At the county level. Solano and Contra Costa had the highest percentage of burdened renters in the Bay Area. Only San Francisco had fewer than 40% of renters facing burdening cost.

They recommend to only spend 30% of your income on your housing. Let me laugh. Yeah, no, it’s more than that. Bertha purchased a home and moved to Pittsburgh 18 years ago. At that time, her mortgage was $1,000 a month. She now pays double. After negotiating with her bank, she says a home like hers rents for at least $2,500 a month. The bank tried to make us pay almost triple.

How does the bank make you almost pay triple? If you got a 30 year mortgage and it’s not an arm, it’s not an adjustable rate mortgage or anything like that, but you have a fixed rate mortgage at a fixed whatever it is, the percentage that you finance it at. How do the bank just automatically start to raise your rent? That don’t even make sense. So you probably tried to refinance it, or you probably got some form of an arm or something like that.

That doesn’t even make sense. How does the bank just come to you and say, hey, fam, pay up to triple more? I need you to pay $3,000 more. They told you all to do creative financing on this one. They told you how to do creative financing, 3000. What percentage would you say of a paycheck? It was more than a third. So it was more than an entire paycheck went to my rent.

So how are they able to keep a roof over their head? I mean, roommates. Roommates. So you have to kind of like juggle it and figure it out. Working three or four different jobs all of the Instacarts and the doordashes and all of those type of jobs, shout out to my ladies. You all going to be out here grinding and hustling now, you don’t want a good man.

You don’t want to share resources. You don’t want to go 50 50. You want to do 100% by yourself. You can do good all by yourself. So make sure that my Instacart is here. Make sure that my doordash is popping. Make sure that you get my groceries when you go and pick my strawberries, pick the right type of strawberries, you’ll get a good tip and all of that.

But that’s what’s happening in society today. You know what’s so funny to me? The nerve of these people sometimes, you know, that people still hold me accountable for also still having a regular job and having good health care coverage and life insurance and dental coverage. Why my teeth is so beautiful and maybe missing a tooth. I’ve seen a dude, honestly, no, cap, I’ve seen a dude sitting here holding me accountable for having a regular job with healthcare coverage and dental insurance and vision say, and he had no tooth.

I can’t believe he think that he all of that and he’s like this. Look how beautiful my teeth are. See, that’s it. No, I’m in work right now. I’m clocked in right now. .

See more of The Millionaire Morning Show w/ Anton Daniels on their Public Channel and the MPN The Millionaire Morning Show w/ Anton Daniels channel.