Summary
➡ The text discusses multifold issues; one being California’s stringent emission laws leading to layoffs in auto firms like Chrysler and the struggles of electric vehicle maker, Lucid. The second part talks about the skyrocketing of insurance and property taxes, particularly in California, which is posing problems for property buyers and condo owners. The last section focuses on the difficulties faced by the elderly with bank services, particularly in cases of identity theft and arbitrary bank charges.
➡ The speaker shares critical insights into issues with the banking system, emphasizing the need for fiscal responsibility amid corporate restructuring. They stress looking out for the elderly and struggling individuals, reveals citizenship purchases in El Salvador, shares about Canadian produce cheaper in the U.S., and narrates the story of the youngest person to pass the California State Bar. They also hint at potential effects due to legislation changes impacting Airbnb and corporations buying houses.
Transcript
We have a sponsor, Dr. Gundry, which I will talk about a little later. But first things first, guys. There was a senate and House bill submitted to get into law right now. And I want you to think about this, and I want to make sure I get these people’s names right. And what this is is that this is going to be the hedge fund Control of America act to get rid of corporations buying houses.
We finally did it, guys. No more corporations buying houses. You guys are kidding yourself if you think this is going to happen. So think about this. Reps. Jeff Jackson and Alma Adams of North Carolina introduced a separate bill for American neighborhoods to protect them. And what this is going to do is make it so that corporations cannot be massive landowners. I want you to think about this. There are thousands of homes, thousands, tens of thousands, maybe hundreds of thousands of homes that are owned by corporations right now.
And they want to have at least a minimum fine of $10,000 tax per year to help with people’s down payment. Once again, guys, this is going to do nothing to help with the price of real estate. This is going to do nothing but just spur a conversation. That is nonsense. And what I mean by that is anybody can go out and buy a house, okay? And the other person, I’ve got to get their person’s name right for you.
Anybody can purchase these homes. And Jeff Merkley of New York, Senator Jeff Merkley, he wants to make it so that no corporations can buy these houses. Now, if you own more than 75 houses, you have to pay the $10,000 per year tax, is what they’re suggesting, which is preposterous. It’s so insane. This is going to make it so that if this went through, first of all, they would dump all their real estate.
And I want you to think about this. Do you think corporations outbid people? Do you think they pay more than you and I do to live there? That shenanigans, that ridiculous thing that was done with Zillow and Redfin and all these people when they started buying houses, this was very short lived because they were losing money hand over fist because the algorithm couldn’t figure out how to buy houses, AI and real estate still hasn’t been proven yet, guys.
You still haven’t been able to prove that a robot can pick real estate better than a person who walks through the houses. I’ve been into foreclosures lately, guys, a lot of them. And you see beautiful pictures on Zillow. You walk in the house and it looks like a war zone. It looks like the crack lab in North Tustin. And what I mean by that is really nice areas that, oh, you want to kick us? Oh, wait, you see, we’re going to bring some bikers and some pipe hitting friends to take care of this place and damage gets done.
Was sitting in a restaurant about six weeks ago, and Guy leans over to me, older guy, probably ten years older than me, and says, hey, you’re the video guy. Yeah, I’m Dan. He goes, listen, I own 113 rental properties, single family houses here in Orange County. And that’s the quickest way to wealth. Everybody needs to understand that you need to become a landlord and rent houses out. Now, think about this.
Do you think this know forgot his name? I want to say John, but I don’t know if that’s right or know has this just in his name. Like, hey, write the tech to John Stevens. He doesn’t do that. He’s got a corporation that he runs the business through. With that being said, this guy is out there and he’s collecting rent. Well, this guy would fall victim to this 75 house thing.
This rich millionaire, by the way, nondescript, flannel shirt wearing older guy that was loaded, okay? But that guy would fall victim to this. Hey, I have to sell some of those houses or you have to pay the ten grand a year per house. Now, the $10,000 a year is going to be put into a fund to help people with down payment assistance. Now, here’s the thing, guys. It doesn’t matter if you give somebody down payment assistance again, give a guy a fish, they’ll only do so much.
Teach a guy to fish, it’s better you go to Dave Ramsey. And Dave Ramsey right now is talking about how bad that people have not cut back. Now, I’ve talked about Dave Ramsey in the past, guys. I don’t have a problem with what Dave Ramsey has to say because I followed a lot of his models, because my brother taught me that the condescension, how rude he is to people.
And if you read the article below, it’s just his tone. His tone is, you’re stupid. What’s wrong with you. Why didn’t you fix this? Well, a lot of people made a lot of bad choices during COVID Everybody was fearful, we better buy a house now. We’re never going to get a house again. And people bid things up. But if you don’t think that these builders who are now sitting on inventory are going to make deals for people they don’t sell.
Hey, listen, the price of those homes are X. Think about this. Lennar Homes would sell a house to anyone that walked in there. Oh, you want to buy multiple houses if Kim Jong Un walked into Lennar in Tulsa. Oh, sir, welcome. You want to buy houses for you and your entourage? Oh, fantastic. Do you guys like granite? Let’s go to the design center. See the warmth of granite in your kitchen, Mr.
Jung Un? You know what I mean? It’s ridiculous. They would sell a house to anyone, anybody breathing that could fog up a mirror, no matter how bad they were. Corporation, too. Okay? It’s ridiculous, guys. So with this, the old supply and demand capitalism, what’s that? Okay. No. Give everybody a free home. Okay? It’s insane, guys. It’s insane. All of these things are backed by the stories below. You have to understand this, that you just can’t give things out.
You just can’t take things away. Dave Ramsey brought up the other thing is that people have such bad credit right now that they’re not working on fixing their credit, which they need to work on. And they just borrowed, borrowed, borrowed and didn’t save for a rainy day. It’s their fault. And he’s right about that 100%. But you have to have discipline. When I decided to get myself out of debt and I decided to pay my bills off, it was a process.
It was not easy. It’s like the fat guy getting in shape. I got myself that was fiscally responsible during that time, and I made it so that I had to cut back so that I don’t have debt. And guess what, guys? I don’t have debt now as a result of doing this. And if you lived your life this way, you would understand and appreciate it, because if you want to go buy a car, you want to go do anything, you can do that now.
Anyways, guess what, guys? You know what time it is? Oh, yeah. It’s mom yoga time. So people say they don’t like that. I say, share your thoughts, and you say it way too much. So do me a favor, guys. Share your thoughts. Let me know if you guys like mom yoga and how you’re spending the holiday season. Let me know. Let’s talk about our sponsor, Chuck Norris. Have you guys ever wondered what happened to Chuck Norris? Well, he’s in his 80s right now, and he’s absolutely fit as ever.
He developed different programs that can help you stay fit, and he’s sharing these right now with us. If you go to Chuckdefense. com Dan, you can see how you can get yourself in shape and do what Chuck Norris has done. He says he has the flexibility and the mobility that he had when he was in his 40s. His wife says that she feels like she did when she was in her 50s.
She made a huge difference on their lives. You can do this by going to Chuckdefense. com Dan, and see what he has done to change his life. It’s something we all can do. But watch this video that’s linked below and find out how you can make a big difference in your life. The older we get, we don’t think that we’re going to be able to have flexibility, mobility and be fit.
Well, look at Chuck Norris, guys. You can make a big difference in your life and take a look@chuckdefense. com. Forward Slash DanToday and see how you can make big changes in your life. We’re going to see real problems in the auto industry right now. And first things first, Stalantis, which was the old Chrysler, owns Jeep, they’re laying off thousands of workers. And they’re not blaming slow sales. They’re blaming California emissions.
California emissions laws are so difficult that we can’t compete with the way things are right now. We have to make these changes right now. So who believes that? You guys believe that? Okay. California’s always had tough emissions, but Stalantis is saying that slow sales, they’re going to cut back and get rid of employees because of that. Now, again, the auto industry is in real trouble. When you have jeeps that go for $75,000 for a Jeep, that’s nuts.
It’s absolutely insane that people are spending this kind of money on a car. Now, my favorite story is lucid. Hey, Lucid’s got some great news. They’re going to lower the price of their entry level car. And the point of this, and the problem with is that Lucid right now, before they did the price reduction, loses an average of $227,000 for every vehicle that they produce. Well, that’s insane, guys.
They’re upside down. They’re completely upside down as an EV auto maker. Okay, well, go buy one of those. They’re also going to introduce their new car, which is going to be in excess of 250 grand. Okay. I mean, what do they lose on that? Think about that. They’re going to lose so much money selling these cars. It’s insane. It’s absolutely insane. Now, next thing is that I’ve had so many people send me stories about condo ownership and the problem that you have with the insurance.
Jim Smith is the president of Marbella Country Club in Daytona Beach. Their insurance for the HOA, just for the HOA, insurance, not the individual homeowners, but the HOA went from $40,000 last year to 260 grand. Who can afford that? Who can afford insurance now? Dan, it’s Daytona Beach. It’s on the water. You’ve got real issues with hurricanes and everything like that. I get it, guys. I get it.
But it’s going to bankrupt people, because the majority of the people that live in this condo project are all retired. And what it’s done with the individual retirees and their own individual insurance is skyrocketed, too, to where people cannot buy these properties. But now you’re going to sit there and say, oh, there’s going to be a glut of properties. You’re going to have houses turned back to the bank because you’re going to have more people that won’t be able to sell it.
What are you going to do? You’re going to go out and buy a condo that’s going to have, hey, listen, the condo price is a 1. 2 million, but your insurance is going to run you about 300 grand. Who’s going to do that? No one is going to do that. That’s the problem with all of this, is that people don’t realize that you can’t have ridiculousness when it comes to real estate.
The price is the price. But there’s so many variables right now. I have so many people that write me and talk about how their property tax is going through the roof. As municipalities lose money, as they have more and more problems, they raise the property taxes. Here in California, they have Prop 13, which they’ve fudged and they’ve added different things to. So basically, you have about 1. 21.
3% taxes. If you don’t have a mellow Roose or any additional tax, there are some taxes in some cities where they say, hey, listen, we have roads, we have schools, we have infrastructure. You’re going to pay for that. You’re going to have 2% taxes and people go 2%. That’s no big deal. Well, when you have a million and a half dollar house. And you’ve got $30,000 in property taxes.
Yeah, that’s a big deal. That’s insanity, Bill, because it’s air taxes are air taxes, property taxes. What do they do for you? Well, it pays for the city, Dan. It pays for the infrastructure. It does not. It does, you know, more and more and more here in California, remember a man named Ross Perot? Ross Perot was an investor in our early toll roads here in Orange County. And they said, listen, if you guys do this, by the year 2000, these will be gone.
Okay? And at the latest. And then they came back and they said it’s going to be 2010. They just built a brand new toll road. The tolls are higher than ever, and the tolls are going to be here forever because the city is relying on that. Just like the lottery. When the lottery was introduced in the, I think it was the, hey, our schools are going to win, too.
34% of the money goes into to take care of our schools. No, they had a little bit of a switcheroo where it goes to the general fund. So none of that goes to our schools. Our schools are ridiculous. And the taxes are only going to go up in all these municipalities. So you guys know this. You guys live in these cities. And I have people that their property taxes have doubled and tripled and they’re reassessing these places like they’re going out of style as property values are going down.
Okay, so share your thoughts on this. You can’t have somebody buy 25 houses. Think about this. During the last downturn, my accountant was in my office at the time and she was going, you know, gosh, Dan, I wish she had some money. I wish she had like a million dollars because there’s so many houses that you could buy. And the banks are selling lots of houses at ten and twelve for a million dollars.
Certain cities in Riverside County. But she had two clients that went out and bought one guy, bought ten houses for a million dollars, 100 grand apiece, fixed them up, rented them, sold some. But again, those houses in those neighborhoods now are like $600,000 now. So again, sitting on a beach for the rest of your life, if you would have done that during the last economic downturn. But nobody does this.
But you can’t have corporations buy these houses again with what they did in Columbus and Cleveland, Ohio, how they’re going to have hundreds and hundreds of houses purchased. It’s not going to make things good. People don’t have pride of ownership with a rental house. That’s just that simple. But to sit there and penalize people. I mean, it’s funny. These politicians get money from these people that they’re trying to say, hey, you guys can’t do this.
So it’s going to be interesting to see how this plays out. I think it’s just a ploy and a plot and just act like it’s no big deal. So let me know what you guys think about all this stuff. They’re clapping for me at Mom Yoga. So share your thoughts on all this. We keep hearing these stories about people that get their accounts drained and then the banks who used to fix things when someone was stupid two years ago, and they got a phone call and said, hey, we’re from your bank.
Give us your pin and your Zelle account and send us $22,000. They just credited these people back Willy nilly because they cried like schoolgirls. Well, Virginia Weamer is in Florida, and someone got access to her bank of America account. And what happened was they drained $13,000 out of the account. She’s 95 years old, guys. Now, that’s not the worst part of this story. Because of the spending spree that they went on and how they did it.
With access to her debit card, she had another $9,000, 9500 to be exact, in overdraft fees. And the bank’s like, no, you have to pay this. So wait a second. 95 years old. So again, if you have anybody elderly in your life, do what you can do to help people. Do what you can do to check on people. Make sure that no one’s taking advantage of them in any way, shape or form because this is criminal.
And B, of A, this made it to the news in Florida. But this is awful that they did this. Now, am I surprised? No. My girlfriend, my late girlfriend, excuse me, when she went to cancer treatment originally in 2009, just very sick, and she was laid up, closed her business temporarily and had cancer surgery and got rid of her business account at one point and just basically had a few hundred dollars in it.
She had all these charges in it. She gets to the point that she can check on the bank and there are almost $700 in overdraft fees and different things with the account that they kept charging through the account. And I’d heard that, I said, that’s outrageous that they did that to you. Well, her mother, who was a consumer advocate herself, went down to the bank and explained how wrong this was and how awful it was and that they took advantage of a poor woman with cancer going through this and fine, you know, what we’re going to do, we’re going to do this this one time, but we’re never going to do this again.
She needs to be more responsible in her account. So do you think the 95 year old woman needs to be more responsible in her account when someone stole her identity and ripped her off? This is what’s wrong with the world right now. And these banks, if you don’t see that Wells Fargo, B of a truist bank, they’re all letting people go Citibank with their restructuring. Yes, the corporate restructuring needs to be done at Citibank because they’re overspending.
But if you don’t think that this is a problem and you don’t think that there is a banking problem in general, you’re kidding yourself. But you know that they did a hard and fast line with people getting overdraft fees and Zelle and all these idiots that went out there and sent people money that weren’t supposed to get it. The next thing is during COVID one thing that blew me away.
So I’ll never forget walking to a bank and it said, hey, are you overdrawn right now? Because if you’re overdrawn, we’ll still give you full credit for your stimulus check. I’m like, really? If somebody’s overdrawn, you’re going to let them have it? Oh, yeah. We’re just going to let them have access to it for 45 days and we won’t let it go to the negative balance. So they’ll be negative, but they’ll get access to that money.
And I’m like, whoa, okay. And this goes to the Dave Ramsay stuff, guys, where you’ve got to be fiscally responsible and you’ve got to cut back and you’ve got to make hard choices. And it sucks, man. It’s not easy to do this, but everybody wants a new car, the new handbag, to go out to dinner, to spend more money than they have. Don’t do it right now. Cut back any way that you can right now.
That’s what you have to do. But most importantly, especially this time of the year, look after people. People that are older that are having it difficult. Be their advocate, guys. Help these people out. And I hope B of A gives this woman her money back. They’ve never been in. I’m going to finish this video with these last few stories. Have you guys ever thought about being a citizen of another country? I’ve got good news for you, because you can be a citizen of El Salvador right now for only a million dollars American.
Okay, you can become a citizen of El Salvador. They’re selling citizenship now. Where have I heard about El Salvador lately? Well, they made bitcoin their official currency. Remember that? So now raise money. Hi. You want dual citizenship, come to El Salvador. So maybe they’re going to hire me as a spokesman. I don’t think so. Anyways, next thing is Canadians are really furious with one thing, and that is Canadian produce is getting shipped to the States.
And it’s cheaper here in the States than it is in Canada. There is a store called Lobla’s, and Lobla’s is selling produce more expensive produced in Canada than it is in places like the south, where you can buy a bag of carrots for a dollar and it’s $4 in Canada. So I got a kick out of that because we’ve seen this so much. We see gas is refined here in California.
We have a lot of these refineries out here, and it’s more expensive here even without our ridiculous. We have tax of like almost a dollar on our gasoline out here. Final story. And this is something I know a lot about. Not this individual, but just the subject matter. And that is, the youngest person to pass the state bar is a man named Peter Park. Peter park passed the California State Bar at 17.
So this guy went to law school when he was in high school and attended Northwestern at the absolute same time. So he just passed the bar. And the bar is twice a year. He took it in July, got his results November 9, and he is a practicing lawyer at 17. And to the best of the California bar’s knowledge, he is the youngest person to ever pass the exam.
But it’s funny, I was thinking about this because my late girlfriend, I met her in high school, met her in the 10th grade and sat next to her in driver’s Ed. She was so smart. Okay, just brilliant. But one thing her parents did because she was pretty was they put her in college night classes. So while she was attending high school, she got a college degree. When she graduated from high school, she got a two year college degree at the same time, which I thought, wow, how’d that work out? Because I did this so that she wouldn’t be out dating and carousing and doing anything.
She said it kind of backfired because I dated older guys. So I always thought that was funny. So made fun of her mom for that one in the later years. But anyways, anyways, congratulations to Mr. Park. But it’s crazy because you want more people to become lawyers that are diligent like Mr. Park was. Anyways. Please don’t forget to hit the like button. Please don’t forget to subscribe to the channel.
And if you want to send me anything. Hello@iallegedly. com? But what do you think about this legislation? Do you think they’re going to pass this legislation to make it so that you’re not going to be able to have corporations buy these houses? Do you think that’s going to change the price? I think you’re going to see more damage, which one thing that’s already been done and that is the legislative change and the regulation changes to Airbnb and all these properties that people have bought are going to be dumped on the market.
I think that’s going to be more effective than what they’re trying to do. Let me know what you think about this. Don’t forget to hit the like button. Don’t forget to subscribe. Join our email list. Onward and upward, guys. I’ll see you very soon. .
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