Hey, it’s Dan. Welcome back. You’re watching Iallegedly. And I’ve got a good one for you today because buyers are taking a pause right now and taking a big time out. So please hit the like button, please subscribe to the channel. There is a ton to cover today, including our sponsor Private Internet Access. But first things first, D.R. Horton is the world’s largest home builder, and they just announced their numbers, and everything should be great, right? Because the economy is so good, they should have made money hand over fist. Well, think about this.

They only closed in the third quarter new construction homes that were built 19,025 homes. Okay? Well, that sounds like a lot. Well, no. Analysts thought that they were going to do 19,994 almost, you know, not over 950 more homes, and they didn’t do that. So what happens? The stock gets clobbered. The CEO of the company steps forward, and they start asking questions. What happened, guys? Well, people are sitting this out. People are taking a pause right now, and they had a tremendous amount of contract canceled. Yippee dogs. Got a good reaction to that.

People are taking a pause for two reasons. Number one, high interest rates that never dropped like everybody thought they were. They dropped, you know, the my go-to gal for loans, Sabina, said, Dan, they dropped for two weeks, and then it ended, and the rates went right back up. So rates are high, and people have that to look forward to. Can’t afford these expensive homes. D.R. Horton is given every type of incentive that they could right now. They’ve given people interest rate reductions. They’ve given people incentives on upgrades, landscaping, delay on the payments.

They’ve done everything they could possibly do, and it has not worked. Now, think about this. The other big problem that they had, and they had almost 14% of the houses not close escrow because of the price of insurance. So what builders are going to have to do is they’re going to have to step forward and sit there and say, hey, you know, we’ve got an insurance coverage. It’s going to give you a million dollars of coverage, this much medical, this much inside your interior for X amount of dollars. They’re going to have to do that, and they’re going to have to find an insurance carrier that’s going to honor that.

But again, no, it’s not going to work, guys. People are fed up, and people cannot afford what’s happening. All we’ve done is talk about how bad the numbers are in business, and D.R. and D.R.s numbers came out. So with that, you know, stocks down, you know, 12% and they see real problems, you know, down the road. No, it’s funny. Another stock that got clobbered yesterday was Wingstop. And the fact that the stock was almost, you know, $300 a share was shocking to me. Wingstop. Wingstop. A bunch of single guys go there to watch the game.

That’s my vision of this place. But sales were up, revenue was up, but profits were down. They got clobbered. The stock dropped almost 22% in the day just because of the numbers. But this sheds light on businesses like this. I don’t think Chipotle should be worth, you know, $700 a share. I don’t think McDonald’s should be worth what it is. I think that this is crazy. A home builder, that’s a different story. Somebody’s selling an asset for up to a million dollars. That’s different than somebody selling wings at Wingstop. But I digress.

The other problem that people have it is a property tax issue. And this is something that D.R. Horton found is that people buy houses and get the property tax bill and say, how much is it? Well, it’s, you know, $1,860 based on raw land. Oh, okay. How much is it with the house on it? And here in California, I’m walking down a straight eight, nine, house at the end of the street sold for $17.5 million, okay, which is in Looneyville. Yes, this is your backyard, but that’s insane. So generally it’s 1%, unless you’ve got Melaru, so they have different bond issues that were for the schools and things like that.

So if you say 1 to 1.2%, you’re pretty safe. The problem with it is the property tax issues. I have literally every day people that write me and say, oh my gosh, I got my property tax bill, I can’t afford it. Jeffrey Brown out of Cook County area in Illinois got his bill and said, what? I didn’t do anything to my house, no improvements, no nothing. It went from $4,000 to $8,400 in a year’s time. I don’t have the money. And the thing about this is that, hey, pay your bills, get yourself down to where you have no debt, and then you’re fine.

Well, you never own your house, guys, because of the property taxes. You have to pay the property taxes. Because if Mr. Brown in the Chicago area decides not to pay his taxes, they’re going to take his house. They’re going to sell it. So there’s that. But this is a problem around the country right now. You have so many people, think about this, that, you know, so many municipalities and cities that are not making less money. Wages, people want more money. They want, you know, they’re not getting the tax dollars. Businesses are not doing well.

So what do they do? They raise your property taxes. Now, you can call California anything you want, but that’s the big holy grail, and that is the, you know, the third rail of real estate here is this. They’ve done ridiculous things in L.A. proper, where they’ve said, listen, if you have a house and it’s over $5 million, we want an additional 5% of the sale for the homeless, which they don’t use it for the homeless. It’s an absolute scam. And, you know, Governor Newsom yesterday announced that they’re going to put $800 million towards the homeless problem in Southern California.

You know, it’s been billions, $23 billion is missing. Where’s that? Give me an accounting of that. You know, that’s what’s sick right now about this stuff. So, you know, you haven’t seen anything yet. The big problem is that if you can even get insurance, there’s houses right now that are, there’s houses right now that are out there that’ll never get insurance. They just won’t because of where they’re located. And what’s that worth? What is your house worth if you can’t get insurance? You know, I’ve heard people say, you self-insure, you do that.

Okay, deal with that after a hurricane. I’m telling you, deal with the problems with, you know, electrical problems. Anything that could absolutely go wrong. Oh. One thing that’s very cool out here is they have a boat parade every holiday season. That would be Christmas for you and I. Christmas season, what they do is they decorate all the boats and then have a big boat parade. It’s cool. You sit in a restaurant or you, you know, get a perch like this and you could come by, sit here and watch the boat parade. It used to go 24 days.

Twenty years ago, it went literally from the first until the 24th. And like all good things, they killed it and it got smaller and smaller and smaller to where it’s basically, I think, six days long now. So just not what it used to be. But that’s the big problem that you’re seeing is that all these taxes and property taxes, insurance, it’s killing, you know, it’s killing the real estate business. And my friends that are in the foreclosure market, there’s a big foreclosure festival next week and everybody’s going to it. Everybody in the banking industry is going to go out and be at that.

So once again, after the election, you’re going to see all hell break loose when it comes to real estate and the sale of these houses that are being held and the banks are going to be stuck with things. You want a deal? That’s going to be your little ding, ding, ding to get yourself a deal. Mark my words, okay? But it’s going to take money. Remember that. Let’s talk about our sponsor, Private Internet Access, VPN. A VPN is a virtual private network and what it does is it gives you a level of encryption from any device that you are on to any website that you go to.

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And there was a manufacturing company in Michigan. It was just ordered to pay back their $3.6 million PPP loan. And again, never should have gotten it in the first place. But nobody’s going to jail for this one. You just need to pay us back $3.6 million. Now, again, misrepresentation, locations, what we should have used the money for. Okay, that’s what they’re coming back after people for. And it just feels good knowing that they’re coming after these people. Okay, now the manufacturing company is going to pay it because they got the money. But never should have gotten $3.6 million.

The next one is a local county board of supervisor named Andrew Doe. Mr. Doe got PPP loans and other COVID money talking about how he was going to feed the homeless and the less fortunate. Do you understand that Fran Glover, who runs the great site business, Joseph Dreamhouse, who feeds the homeless and the less fortunate, can’t get money. But Andrew Doe got himself millions of dollars. And what did he do? He didn’t feed anybody. He fed his family, bought houses for his kids. His wife is a judge too, and they don’t know how this is going to affect her.

But the guy, he had to resign, and he’s going to have to pay the money back, and we’ll see if he has to do any jail time. But that’s what’s unfortunate about this, is that people took this money that could have been used someplace else for the common good. And again, man, I don’t want to hear about anybody going hungry in this world. You know, people have enough challenges right now. And there are irresponsible people that use drugs and things that are stupid. And we need to help people right now, especially the families and people that are less fortunate, including our veterans.

Another real estate story out of California, and that they interviewed 90,000 real estate agents in California. That’s the wild thing when I started reading this out of Newsweek. I thought, wait a second, I would not. I thought that there were 90,000 agents in California. And of the 90,000 agents, 14% said that they’ve had cancellations this year. Because people can’t get adequate insurance and have to back out of the deal. So not just cold feet, can’t afford it. So think about this. You look for the house, you get your dream house, and you’re prepared to go ahead and you have to back out of the deal.

Because of the fact that you can’t get insurance, that’s fair. And again, you want to be a good agent, go out and fix this, guys. Go out and fix this. Steven from the UK sent me a bunch of stories. I’ll cover some of those in a bit. But one thing that blew me away was here in California and San Diego, woman’s kids were playing in the backyard. And son got bit by a snake, okay, and the kids, snake, okay? So they had to take him to the hospital, because he was so young, he was two.

They had to issue the anti-venom and had to do all these different methods to get the kid the anti-venom. How much was the charge for the hospital? 300 grand, $300,000, which of course, nobody can afford 300 grand for anything. And fighting with the insurance company, because she had insurance too, that’s the worst part. Here’s what’s sick, what’s sickening is when you take an ambulance ride, thank God they got John there quick. No, that’s not covered by your insurance. You have to pay that. They wanted this kid’s family to pay $11,000 for the ambulance ride just down the street, 11 grand for that.

And we lit the sirens up and everything for him. It’s a great day at Disneyland. So that’s what’s wrong with this, but nobody can afford this stuff. So let me know your thoughts on all this. One thing I wanna remind you about is we have a private channel called I allegedly live that is completely uncensored for everything too hot for here. And I am so grateful cuz hundreds of you have signed up for it and it’s fantastic. And we’re putting information out and videos out all the time on that channel. Go to iallegedly.tv and you can sign up for that if that interests you.

And I’d love to have you there. It’s a lot of cool stuff happening. Can’t wait to share it with you. The numbers don’t lie in the economy. One thing that you’re seeing is you’re seeing that business is taking a hit in so many different areas. And one thing that we talked about a year and a half ago was that you would see more and more businesses that would merge out of necessity. And it would be a way for them to survive the Kroger merger. Now, think about this. Apple is considering buying Intel right now.

That’s wild, guys. That is absolutely wild because the chip maker is not doing that well. Sales are slumping from personal computers. You know, I’m gonna keep it longer. I don’t wanna get a new one. That’s what you’re seeing. So be interested to see if they make an offer on Intel or not. The next thing that’s wild is, you know, we had a flurry of people in 2021 through 2022 that quit their jobs, especially older people my age and above. I hate this kid’s gun. And they go take it easy. The problem is a lot of these people quit, didn’t have good retirement, had a few thousand dollars, 20, 30, 40 grand and realized how quickly it would go.

And they quit their jobs at a record pace. But think about this. People right now are not quitting their jobs right now. Can’t get another job. And they’re keeping their jobs longer right now to try to maintain, you know, their finances right now. Great story below about how the percentage of people that are quitting is off. It’s off basically half of what it was a year ago. Well, people know what’s going on. If people that are real and if you’ve listened to anything that someone like me says, it’s like, just prepare. Prepare for the shenanigans that are gonna happen and continue.

Because the home builders, Wingstop, everybody. When you hear about all these people that are not doing well, it should remind us, Intel’s not doing good, guys. Now, here’s the worst one, Boeing. Boeing, when it rains, it pours. And Boeing overcharged the government 9,000% for the cargo planes. I think they’re the C-19s. Anyways, I’ll make sure I get the plane right because I’m gonna have somebody correct me. But C-17, pardon me, C-17 planes. The little soap dispenser overcharged them by 9,000%. And, you know, you have whistleblowers that scan everything. What’d they pay for this? What’d they pay for that? When you’re paying, you know, 96 times what you’re supposed to pay for something, it’s ridiculous.

But again, it is just criminal act. And Boeing has such a bad reputation. But remember, every day, you know, hey, will the machinists sign off? Think they’re gonna come to agreement? Don’t forget those two people are sitting there in space floating around and have been for months now. And they’re almost six months away from returning home if they make it. But we talk about that, you know? Think about this, it should open the news every day with how Butch and Zuni are dealing. So, but criminal act, you know, Boeing ripped us off because when they charge the government this stuff, they’re charging you and I for this.

Don’t forget that. We’re getting clipped for this. The PPP loans and all this stuff, feel good about these people getting, you know, called to the carpet because they need to be responsible for this. Let me know what you think so far. There’s a lot to cover in this last little segment, but I’m gonna finish this video with all this. And first thing is there is a martini at the Adelina restaurant in Chicago. That is $13,000 for a martini. It’s a mezcal martini that’s laced with diamonds. So, if you’re on crack, you can go drink that martini.

And get shot at after you leave the restaurant, it’ll be fun. Fun night. Give me the diamonds. Anyways, Steven from the UK always sends me good stuff. But man, oh man, he hit the mother lode today. First things first, McDonald’s, okay? Is having a real difficult time in the UK because of how expensive it is. Just like here. So what they came up with was, they came up with a $2.49 pound, $3.350 hamburger called the Chili Burger. And it’s basically two patties. It looks like a McDouble, but they threw in some jalapenos in there.

Sounds kinda good, but again, will that save McDonald’s in the UK? Who knows? Then, there’s a restaurant that stepped forward. And for breakfast, they will sell traditional English breakfast items. Which I, you know, all these different things that I can’t, you know. Anyways, English stuff, okay? But it’s 25 pounds to eat there, and people are just fuming, man. And the best part about this story is reading the people’s comments online. Because the place is called Cow Shed. And the Cow Shed, people are like, no breakfast is worth 25 pounds. Guys, I’m telling you, have you ever traveled, ever gone to a hotel, restaurant? My cousin works for a security company and travels around the country.

And I believe he’s in Alabama right now and goes into the resort. And, you know, breakfast is $45. So, 25 pounds didn’t seem like much to me. But people were fuming about that. Absolutely angry. Now, the final story is out of Subway, the sandwich shop. Remember three years ago, that great lawsuit where two women sued and said that they determined that the tuna had no tuna DNA and no discernible DNA of tuna, which I thought was great. The lawsuit got kicked, it got reinstated, it got kicked again, back and forth. Anyways, Anna Tolison is now suing Subway because she went in to a New York location and ordered the steak and cheese and said that this is determined that there’s nowhere near the amount of meat that you had on the, compared to what’s in the picture, compared to what she got in the sandwich.

So, false advertisement, suing in federal court for this. So, crazy guys, you’re gonna see more and more of this stuff. And again, have you ever sat there and looked at a picture of something in a restaurant and said, oh, God, it better look like that, cuz it never does, okay? Don’t forget to hit the like button, don’t forget to subscribe to the channel. And email me, hello at iallegedly.com. And onward and upward, guys, I’ll see you very soon. [tr:trw].

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