➡ The text discusses a service called Delete Me that helps remove personal information from the internet, reducing spam calls and emails. It also talks about the current economic climate, with people being less likely to spend money and businesses like Home Depot and auto mechanics seeing a drop in customers. The author suggests that this is due to job losses and people not saving money, and advises readers to live within their means and cut back on unnecessary spending.

Hey, it’s Dan. Welcome back to IAllegedly. I’ve got a good one for you today, because the recession that you haven’t heard about is all around us, and there’s a lot to cover this morning. So I walk in the golf course, it’s nice. Please hit the like button, please subscribe to the channel, and today we have a sponsor, Delete Me, and I will talk about them in a bit. Think about this, guys. We have talked about real estate for two years now, and how there’s a problem. But what you cannot ignore anymore is the fact that housing starts have plummeted to an absolute all-time low.

You’re starting to see building permits not get pulled, and you’re starting to see all these different problems with construction, and cannot wait to go through this with you. First things first, the average median house right now is $400,000, which still, hearing that figure blows me away, guys, because I’m telling you, the houses on the golf courses right here, 1.8, 1.8, 2.2. I mean, I could sit there in just a million, by the way, and it’s just nuts. Now, in the city that I’m in right now, Tustin, California, there are no $400,000 homes.

Just darn. There’s no $400,000 condos right now. So they just built a new condo complex, and they were $1.3 million, and the parking’s atrocious. They have what they call a two-car garage, but you’d have to have the smallest of cars you can have in an SUV. It’s just terrible. So to go through these stats with you, you know, the average household needs to have $110,000 in annual income to afford that. Now, here’s the thing. If you make $61,000, you can afford half the average house. Where do you get a $200,000 house right now? You just don’t.

It just doesn’t exist right now, and these figures are just unbelievable. Think about this. You know, in 1970 to 1985, you could save 10% of your income, and over the course of five years, you could have enough money for the house. Now, in 2023, it would take eight years to do that if you could save 10% of your income. Now, think about it. The amount of money, our money isn’t worth any more, but the amount that we’ve made is more, and the housing prices have gone up dramatically during this time.

So with that being said, it would take eight years to save for the average house. Now, what’s the housing market gonna look like eight years from now? Are you gonna be together still? You know, I mean, think about it. I mean, it’s like, oh, yeah, I never thought about that, Dan. Yeah, okay. I’m telling you, I have seen the house be the thing that’s the most destructive part of the relationship, where people don’t realize that, now you have to maintain it. Oh, you want to do your, you know, you got a plumbing problem? Well, you don’t call anybody.

Call Ghostbusters, man. You got to fix it yourself. And the other thing is that people just don’t realize the maintenance and the upkeep for a home. Don’t get it. Don’t get it at all. So, you know, some wild, wild stats, okay? In May, builders broke ground on new homes at the slowest pace in five years. Now, you can sit there and go, gosh, all they’re doing is building around me. You guys, I’ve shown you stuff here in Tustin. I don’t know if you’ve ever seen a building that are built next to the jack-in-the-box or on top of each other, and they’re $930,000 for those condos.

Again, no privacy, no backyard. You get nothing for that. So, again, the building permits issuance is at a five-year low. Again, this is the silent recession. This is the beginning of the depression. The thing that most people don’t know is 1 16th the United States economy is construction, okay? Now, throw in the ice raids. People are saying, oh my gosh, we have areas here in Southern California where they’ve had ice raids and construction projects have just gone to a standstill because people are afraid to show up. Now, here’s the thing.

You know, this is the United States of America. I’ve had employees. You guys are an employee. Some of you are employees out there, and you’ve worked for people. You had to give paperwork. They’ve got all these immigration paperwork things you have to do. Here in California, you have to do that. So, is everybody fake? Is it all a bunch of fake social security numbers? Is it a bunch of fake ID cards, driver’s licenses, or do people just turn their head and not get it, not do it? But I’m telling you guys, we’ve covered everything on this channel from a mother and son that started their own bank out of their house to cash payroll checks for illegals, okay? And that was in Florida that did that.

And I’m like, well, wait a second. How do you pay taxes? How do you have a construction company that brings in, let’s just say, $5 million, and then you don’t have proper payroll? Or do you have just expenses with 1099s and checks and things like that? It must just be a shenanigans festival with that. Home builders dropped the builder sentiment, dropped the lowest pace in June ever, ever, ever, ever. We just got those numbers for June right now. So, again, I love sentiment. How do you feel? Well, if I had $5 million in the bank and I had a bunch of chicks swimming in my swimming pool down, I’d feel great.

Okay, well, is that good sentiment? What’s bad sentiment? You know what I mean? It’s like builder sentiment. Well, we’re not selling homes. Lenar Homes is giving the biggest discounts it’s ever given in the history of the company. Enough said, enough said. You want to buy a home? I’m telling you this right now. If you want to buy a new home, you can go out and you can negotiate anything. What’s the first thing they’re going to say? You’re out of your mind. We’re not going to, hey, we’re buyers. We’re qualified.

Here’s what we have now. Hey, listen, do you think you could get us a loan if we took off $200,000 at the price? Do you think you’d get us a loan? No, that’s not how you do it. You walk in there prepared like you have all the money in the world and you’re, you know, Scrooge McDuck swimming in the pool full of money. Even if you don’t have it, you just walk in there with your pre-qualification and negotiate this. I know this, okay? You can buy a house at a discounted price.

It’s there. It’s out there. You don’t have to have real estate agents to do it. You can do this on your own. Real estate, that’s not true. See, he’s a liar. He doesn’t know what he’s talking about. Yeah, I do. Yeah, I really do. So, you know, statistics about the decreased number of houses, you know, that home builders are building, you know, it’s down 19% right now. Multifamily is down 25%. You know, in total, when you add it all up, it’s off 24%. You know, 7% mortgage rates have killed everything, guys.

It’s made it so difficult for people to afford things. It’s double what it was before. Now, I want you to think about this. Let’s just print money out of thin air again. Let’s do 2021 all over again. And, you know, the big, you know, you know, the inflation reduction act, which is was ridiculous. It was a it was let’s write a check act that made interest rates drop and new people had home affordability. The problem with it is most people, I’m going to say the majority, let’s say even 80% of the people out there don’t have the ability to live on a budget at all.

They have to go out and just squander their money. So if you go out and you buy a house for $400,000, it goes to $500,000. We had $100,000 in equity. You know, one thing that my uncle and I, when we had lunch last week, we’re talking about, there was a housing track in 2006 that you could buy a home in Moreno Valley, California. The home prices were $500,000. They would lend you against the property, $600,000. People could go out and you could have instantly buy a home and have $100,000 put into your bank account and you own the home.

Now, some of these people still live there. The houses dropped in value dramatically. They went up as high as $540,000. People thought they were going to be millionaires buying these homes. And what did they do with that $100,000? Did home improvements, put pools in, did their landscaping, went on trips, bought boats, and just pissed it away. That’s what they did. So it’s a lot more to cover on this. Let’s talk about our sponsor, Delete Me. One problem that most of us don’t even realize is happening is that there are data brokers out there selling our data to all these different sites that then sell it to other people.

Now, there is a great company called Delete Me. And what Delete Me does is it eliminates your name, your phone number, your email address, photos of you, photos of your family, family connections, your job, your home’s value, all these different things off the internet with one great service. If you go to JoinDeleteMe.com forward slash I allegedly, you can save 20% on their service and it’s absolutely amazing. I have had this for about 10 months now and it is absolutely amazing. It has eliminated so much stuff off the internet about me and it works amazing.

But if you’re tired of spam phone calls, spam emails, different things like this, Delete Me will help eliminate this by getting your name and all your contact information off the internet. Contact them today. Use the discount code I allegedly. If you don’t want to use the link below, use this QR code, take a picture of it. The service is fantastic. I absolutely love it and it works great. Check out Delete Me today. Good morning. How are you? Now, there’s a lot more to cover with this. Now, first thing is homeowner sentiment.

Peoples, my sentiment, your sentiment, is off right now. People are less likely to spend money right now. Okay, well, that’s tough. I don’t want to hear that. Nobody wants to hear that. But here’s the crazy thing about this. It’s not that things are bad. You have to live your life, guys. You have to do what you have to do. If you’re not making the money or you think that you’re going to lose your job, you need to cut back. No, I’m not going to do that. I’m going to go to the bar.

I’m going to go to the ball game. I’m going to go on the trips. 25% reduction in employees at the Hyatt Company. Huh? That’s in concierge and reservations. Why are they doing that? Because people are not going to travel this summer. It’s going to be a bad summer. Now, the next thing with home builders is the nonsense. It’s like this is all tariff related. This is all tariff related. If you have a home built or it’s in construction, there are no tariffs. It’s not done. You can tariff where? So here’s the funny thing.

I found a great article about Japanese automakers. It said since the tariffs have been announced, we’ve had an amazing season of car buying and car sales have gone up during this time. Same thing with home buying. If people had the money, guys, they would do it. But when you combine losing your job, which is a killer, people don’t save the money. They just spend what they got. I’ll get paid in two weeks. I’ll figure it out. That’s how most people live. And it’s a terrible way to live.

So now that’s showing, you know, a real problem with people. So, oh, gosh, you know, incomes. We make less today than we did 25 years ago. I love people that write me and say, Dan, my first home mortgage was 13.5%. I had a 12% mortgage. I had a 13% mortgage and I did just fine. Guys, the price of those houses were 45 grand during that time. You know that. You own an automobile, probably, that you spent more on than that. Okay. Finance that car for 30 years. It’s free.

It’s like, it’s like, you know, the, you know, having lunch at the cafeteria. That’s more expensive. So is this the canary in the coal mine? Is this the bad thing that’s going to just completely destroy us? Personally, I just think it’s like long overdue. And you guys know that, but look at everything else. When you have companies like Home Depot that are saying that home improvement projects from the simplest, from painting the door is off from people going because what they do is as bad as Home Depot and Lowe’s are right now.

They have people there to assist you supposedly. They don’t need more. They’re not like they were 15 years ago. They had real professionals that worked at those stores that would give you advice on everything from wiring, plumbing, lighting, everything. Now they have people that can give you suggestions because they took a class for 45 minutes. So with that, those sales are off completely. People are not doing the projects, even the simplest things. The auto mechanic. I’m telling you, I had to, I had to tow a car to my mechanic yesterday.

And oh, thanks Dan. We’ll get on it right away. And I’m thinking, okay, he’ll look at this thing three or four days from now. I’m going to get on it today because nobody’s getting their car fixed right now. I am telling you it is absolutely crazy to think about because that you haven’t seen anything yet, guys. People not working in the cars, not repairing, not replacing the oil in your car. That’s the kiss of death, guys. Absolute kiss of death. So, you know, the great financial crisis that we went through in 2007 to 2009, people have a very, very short memory for.

And it’s nuts because it dropped so bad. Now people are saying it was the free money and it was the free mortgages. And think about this. They had the liar loans where you could walk into a lender and they had this thing called stated income. Well, how much do you make? Well, we’ll tell them you make 250,000 a year. Okay. And then they had a teaser rate for a year or two. Let’s say you borrowed a million dollars. You could have a literally an $1,800 a month payment for a million dollar mortgage.

And then the real loan kicked in, which is about $7,500 at the time. Huh? I don’t make that. I don’t even make that in a month. Well, you’re going to get to refinance it before the two years are up. And guess what? That ended. Watch the big short. And it’s funny, I mentioned that I love the movie Margincon. I think it’s better than the big short and it just sparked this big debate. So that’s crazy. Now, it’s not all bad. You guys are going to sit there and say, it’s so good in my neighborhood.

Everything’s fantastic. Maybe, but everything guys is off right now. There’s nothing right now that’s doing well, other than the negative. And I spoke to an attorney who does bankruptcies, doing great, spoke to a divorce attorney that does divorces. Oh, yeah. This is, this is just like, uh, uh, what, what was the, oh, it’s just like 2009 all over again. Everybody’s falling apart right now. Huh? I got divorced in 2009 anyways, just like me. So one thing that’s great is I have never understood the fascination with the Hamptons.

It’s okay. There’s no, you know, uh, it just doesn’t look exciting. Now, do I think it’s overpriced? Yes, I do. I’m going to walk away from the, uh, from lawnmower man over here. There is a trailer park in the Hamptons, a trailer park, modular home, manufactured houses that got notoriety because some guy sold one for $3.64 million. Now he rebuilt the trailer and it was the super trailer. Okay. If there is such a thing. And now there’s another one for sale for $2.64 million.

Now, some of these are what they call land leases land where you don’t own the land. You have to pay a space rent, kind of like a mobile home park. How much is that? You know, but you’re in the Hamptons, Dan, it’s the, it’s, it’s the billionaire bungalows. It’s where the billionaires hang out. No, they don’t. Are you guys, I love lies like this. You know, you want to appear to look rich. Okay. You, you, while you look rich to me, you’re not, you’re not even close, but the latest one, you know, you can own an ocean from Hampton’s home for less than $3 million because it’s a trailer, which I love, love stuff like that.

So live within your means, pay your bills off. I have stacks of friends. So I, I mean, it’s really over probably close to 15 that have all altered their spending over the course of the last year. You know, your buddy kind of makes sense. You know how it is. You know, everybody has this. You have friends that you get along with and their wives think you’re an imbecile. Okay. To a certain point. And then I guess he’s kind of right, but we did this on a row.

We don’t need to listen to Dan’s advice. I don’t care if you listen to my advice. Sock away some money, pay your bills, don’t overextend, don’t go places and buy things you don’t need. You don’t need new clothes to make yourself look better. It’s ridiculous right now. Have it be the summer of cutting back because that’s what it’s going to be. Fourth of July is coming up and it’s going to be a completely different year. Okay. Let me know what you think. Hit the like button, subscribe to the channel, check out our sponsor.

And onward and upward guys, don’t forget to join the email list. Link is below, link is below, link is below. Okay. I’ll see you soon. [tr:trw].

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