WEBVTT
00:00:04.799 --> 00:00:06.719
Welcome back to the Lars Larson Show.
00:00:06.879 --> 00:00:20.559
Well, Republicans usually run for office on the idea of cutting down the size of government, and now they're pushing a bill that actually is loaded up, or I would say larded up with Democrat style housing subsidies.
00:00:20.719 --> 00:00:22.079
That makes no sense to me.
00:00:22.160 --> 00:00:25.199
So I've got to turn to Joel Griffith for a few answers.
00:00:25.359 --> 00:00:28.719
Joel is a senior fellow at Advancing American Freedom.
00:00:28.879 --> 00:00:30.239
Joel, welcome back to the program.
00:00:30.320 --> 00:00:36.799
And how is it that Republicans can be pushing the kind of garbage they usually oppose when the Democrats push it?
00:00:37.439 --> 00:00:38.799
Well, thanks for having me on, Mars.
00:00:38.960 --> 00:00:49.759
Well it's deeply unfortunate that the centerpiece of the so-called road to housing plan is actually pieces that have been championed by Elizabeth Warren and Bernie Sanders for years.
00:00:50.000 --> 00:01:13.680
I guess I'm really not that surprised considering that Vice President JD Vance once did call Bernie Sanders a state of Democrat, but it's still quite troubling to see that uh a housing proposal going through the House right now would, number one, ramp up more stimulus, which is going to throw the drive of prices, but number two, it's going to be restricting a lot of investments in the single-family housing space.
00:01:13.760 --> 00:01:16.879
It's not free market, and it's actually going to drive up costs for families.
00:01:17.280 --> 00:01:21.040
I I I guess I just wonder, Joel, what's what's causing them to do this?
00:01:21.120 --> 00:01:25.760
Because ordinarily most conservatives like me say, I don't want any government subsidies at all.
00:01:25.920 --> 00:01:29.680
I don't want them personally, and I frankly don't want them going to anybody else.
00:01:29.840 --> 00:01:41.680
And it's I'm usually hard-pressed to imagine a circumstance in which I'd say, well, we ought to subsidize this because somehow it'll produce a better result than actually producing out of the free market.
00:01:42.799 --> 00:02:00.640
Well, we see politicians here in corners because there's a real recognition of a major problem, and that's housing affordability is the worst that it's ever been in this country, whether you're looking at the actual home cost or home cost relative to income, or you're just looking at uh what the interest payments are, or the mortgage payments.
00:02:00.719 --> 00:02:04.319
It's never been worse right now for families across most of the country.
00:02:04.400 --> 00:02:06.319
So there's a very real problem here.
00:02:06.480 --> 00:02:11.599
Uh, but unfortunately, DC has set to double down on failed problems of the past.
00:02:11.759 --> 00:02:21.360
Very few politicians are recognizing that the primary driver of record unaffordability in the housing market has been all of these programs that have been there to help us.
00:02:21.680 --> 00:02:30.479
Over the last 40 years, you've seen the federal government through Fannie Mae and Freddie Mac end up financing close to 90% of whole mortgages by buying those mortgages.
00:02:30.560 --> 00:02:34.719
We've seen the Federal Reserve print nearly$2 trillion to purchase mortgages.
00:02:34.879 --> 00:02:38.639
All of this has driven money into residential real estate.
00:02:38.800 --> 00:02:52.319
Think about the three sectors in the economy that have been the worst inflation over the past um decades with health care, education, and housing, all three areas of the economy that the federal government has repeatedly been there to help with.
00:02:52.560 --> 00:03:02.080
But in the past, we saw conservatives and Republicans saying, hey, let's recognize these mistakes and get the government out of the way to allow Francis to come back down to earth.
00:03:02.319 --> 00:03:11.919
Unfortunately, this time you see Republicans teaming up with some of the most progressive members of the Senate to move forward a deal that doubles down on the worst of the past 30 years.
00:03:12.240 --> 00:03:18.080
I'm not even sure I'd be as charitable as to call foca huntas Elizabeth Warren, uh, you know, progressive.
00:03:18.240 --> 00:03:21.759
She's she's sort of way, way out to lunch.
00:03:21.919 --> 00:03:32.319
But the one place I could see if the federal government wanted to push something, I may have thrown this idea at you uh before Joel, but let me throw it at you in a in a slightly different way.
00:03:32.560 --> 00:03:44.800
If the biggest problem that you can change right now, uh you can't really change the cost of materials, you can't really change the cost of labor very much, but you could c change the cost of government.
00:03:44.960 --> 00:03:56.319
So I'm told that in Los Angeles it's close to$300,000, uh about one-third of the cost of a house in government uh fees that have to be paid to build a single house.
00:03:56.560 --> 00:04:04.960
An average house in LA is about a million bucks, and about$300,000 of that is government rules and regulations and fees that you have to pay.
00:04:05.199 --> 00:04:12.240
Now, if the City of Los Angeles were to say we're gonna cut that in half, right there you've got a$150,000 reduction.
00:04:12.319 --> 00:04:27.360
And what is the how does the government suffer if you say you can't collect a toll of$300,000 to build a house any more than the you know the Iranian mad mullahs can collect$2 million tolls to go through the Strait of Hormuz.
00:04:27.519 --> 00:04:30.079
I think both of them are about equally evil.
00:04:30.319 --> 00:04:37.519
And if if you say, well, how do we get Los Angeles or California or any other state to stop doing that, you know what you could do?
00:04:37.759 --> 00:04:41.759
You pointed out that the federal government has agencies that buy these mortgages.
00:04:41.920 --> 00:05:01.120
And if they were to tell states, you know what, if you're going to do, if you're gonna have these crazy rules and regs, we're gonna pay to take the 25 states that have the most freedom for people to build their houses and the lowest cost of government, then we will give priority to those loans, and we may not buy the other ones at all.
00:05:01.360 --> 00:05:06.160
Now that one change, now that would be the federal government telling the states what to do.
00:05:06.319 --> 00:05:20.160
But it would be saying if you're gonna insist on collecting this gigantic toll at the front end before somebody's even put a shovel in the dirt, you're gonna demand 300 grand up front to be able to build a house, then we're not gonna buy your mortgages.
00:05:20.319 --> 00:05:24.720
You can sell them to somebody else in the market, probably under less favorable terms.
00:05:24.959 --> 00:05:35.680
Meanwhile, if you've got states that say, no, no, we're not gonna charge those kinds of fees, we're on the other end of the spectrum, then the federal government says we'll be happy to buy those mortgages all day long.
00:05:35.839 --> 00:05:38.079
Would that bring about the change we want?
00:05:38.800 --> 00:05:58.000
Uh look, I certainly sense the frustration and agree that places like LA, Seattle, Portland, they have some owners' restrictions contributing to the rising cost of living in Newport Beach and well aware of the impact that local zoning can have on the supply of housing and affordability.
00:05:58.079 --> 00:06:00.079
So that's certainly a driving factor.
00:06:00.240 --> 00:06:16.639
Um, but if you look at across other parts of the country, even across the Midwest, um, you've seen the price of housing, even in these areas you don't have the zoning issues, even in areas where population has been stable with the climate, you still see home prices increasing at a rate higher than inflation.
00:06:16.720 --> 00:06:20.639
And that's especially true in the lower to middle income housing market.
00:06:21.040 --> 00:06:24.639
And that primary driver is more than just the regulation.
00:06:25.040 --> 00:06:26.959
Um, it's more than just the tariffs.
00:06:27.199 --> 00:06:35.920
It's this long-standing house that we have of putting trillions of dollars, government dollars, into the housing market has driven the free spot.
00:06:36.639 --> 00:06:39.680
All that does is it it just drives inflation.
00:06:39.839 --> 00:06:42.399
By the way, Joel, you got to satisfy my curiosity.
00:06:42.560 --> 00:06:45.040
Did you end up with child care duty today?
00:06:46.079 --> 00:06:49.439
Um no, I did not, but I did end up with the delayed flight.
00:06:49.680 --> 00:06:50.560
With a what?
00:06:51.360 --> 00:06:52.560
With the delayed flight.
00:06:52.639 --> 00:06:54.879
But no, no, no childhood duty for me.
00:06:55.199 --> 00:06:55.519
Okay.
00:06:56.480 --> 00:06:58.480
Joel, I very much appreciate the time.
00:06:58.720 --> 00:07:02.319
Glad to get your phone calls and your emails at 866-HLars.
00:07:02.560 --> 00:07:06.160
That's 866-439-5277.
00:07:06.319 --> 00:07:11.279
Send your emails to talk at LarsLarson.com and I'll get those calls in just a moment.
00:07:11.439 --> 00:07:13.920
First, though, I gotta give you a piece of advice.
00:07:14.160 --> 00:07:18.240
Peace of mind actually matters, especially when it comes to your health care.
00:07:18.560 --> 00:07:21.920
But for a lot of Americans, the system does not make it easy.
00:07:22.079 --> 00:07:23.279
Prices are high.
00:07:23.519 --> 00:07:29.519
Access is inconsistent to say the least, and the process can feel really, really complicated.
00:07:29.680 --> 00:07:33.680
That's why more people are looking for better options and more control.
00:07:34.079 --> 00:07:39.839
I can tell you personally that all family pharmacy makes it simple, safe, and secure.
00:07:40.079 --> 00:07:41.759
Simple because you go online.
00:07:42.000 --> 00:07:46.240
You choose exactly what you need without somebody else telling you what to do.
00:07:46.399 --> 00:07:50.720
You fill out a quick online form, and then safe, licensed U.S.
00:07:50.879 --> 00:07:55.199
doctors review every single request and prescribe if appropriate.
00:07:55.360 --> 00:07:56.959
Now, have I done that myself?
00:07:57.120 --> 00:07:57.600
I have.
00:07:57.759 --> 00:07:58.639
It's simple enough.
00:07:58.720 --> 00:08:00.560
Even a talk show host could do it.
00:08:00.720 --> 00:08:05.759
Secure your information, and transactions are protected from start to finish.
00:08:05.920 --> 00:08:09.120
Now, all family pharmacy has everything in one place.
00:08:09.360 --> 00:08:19.040
400 prescription meds from maintenance meds to antibiotics, antivirals, ivermectin, mebezidol, hydrohydroxychloroquine, and more.
00:08:19.279 --> 00:08:20.240
No confusion.
00:08:20.399 --> 00:08:26.319
No long waits, no insurance headaches, just a better way to get what you need when you need it.
00:08:26.480 --> 00:08:32.080
Go to all family pharmacy dot com slash Lars and then use the code Lars10.
00:08:32.240 --> 00:08:33.919
That will save you ten percent.
00:08:34.080 --> 00:08:41.519
Again, that's all family pharmacy dot com slash Lars and save ten percent with my coupon, Lars Ten.
00:08:41.919 --> 00:08:44.080
You're listening to the Lars Larson show.
00:00:04.799 --> 00:00:06.719
Welcome back to the Lars Larson Show.
00:00:06.879 --> 00:00:20.559
Well, Republicans usually run for office on the idea of cutting down the size of government, and now they're pushing a bill that actually is loaded up, or I would say larded up with Democrat style housing subsidies.
00:00:20.719 --> 00:00:22.079
That makes no sense to me.
00:00:22.160 --> 00:00:25.199
So I've got to turn to Joel Griffith for a few answers.
00:00:25.359 --> 00:00:28.719
Joel is a senior fellow at Advancing American Freedom.
00:00:28.879 --> 00:00:30.239
Joel, welcome back to the program.
00:00:30.320 --> 00:00:36.799
And how is it that Republicans can be pushing the kind of garbage they usually oppose when the Democrats push it?
00:00:37.439 --> 00:00:38.799
Well, thanks for having me on, Mars.
00:00:38.960 --> 00:00:49.759
Well it's deeply unfortunate that the centerpiece of the so-called road to housing plan is actually pieces that have been championed by Elizabeth Warren and Bernie Sanders for years.
00:00:50.000 --> 00:01:13.680
I guess I'm really not that surprised considering that Vice President JD Vance once did call Bernie Sanders a state of Democrat, but it's still quite troubling to see that uh a housing proposal going through the House right now would, number one, ramp up more stimulus, which is going to throw the drive of prices, but number two, it's going to be restricting a lot of investments in the single-family housing space.
00:01:13.760 --> 00:01:16.879
It's not free market, and it's actually going to drive up costs for families.
00:01:17.280 --> 00:01:21.040
I I I guess I just wonder, Joel, what's what's causing them to do this?
00:01:21.120 --> 00:01:25.760
Because ordinarily most conservatives like me say, I don't want any government subsidies at all.
00:01:25.920 --> 00:01:29.680
I don't want them personally, and I frankly don't want them going to anybody else.
00:01:29.840 --> 00:01:41.680
And it's I'm usually hard-pressed to imagine a circumstance in which I'd say, well, we ought to subsidize this because somehow it'll produce a better result than actually producing out of the free market.
00:01:42.799 --> 00:02:00.640
Well, we see politicians here in corners because there's a real recognition of a major problem, and that's housing affordability is the worst that it's ever been in this country, whether you're looking at the actual home cost or home cost relative to income, or you're just looking at uh what the interest payments are, or the mortgage payments.
00:02:00.719 --> 00:02:04.319
It's never been worse right now for families across most of the country.
00:02:04.400 --> 00:02:06.319
So there's a very real problem here.
00:02:06.480 --> 00:02:11.599
Uh, but unfortunately, DC has set to double down on failed problems of the past.
00:02:11.759 --> 00:02:21.360
Very few politicians are recognizing that the primary driver of record unaffordability in the housing market has been all of these programs that have been there to help us.
00:02:21.680 --> 00:02:30.479
Over the last 40 years, you've seen the federal government through Fannie Mae and Freddie Mac end up financing close to 90% of whole mortgages by buying those mortgages.
00:02:30.560 --> 00:02:34.719
We've seen the Federal Reserve print nearly$2 trillion to purchase mortgages.
00:02:34.879 --> 00:02:38.639
All of this has driven money into residential real estate.
00:02:38.800 --> 00:02:52.319
Think about the three sectors in the economy that have been the worst inflation over the past um decades with health care, education, and housing, all three areas of the economy that the federal government has repeatedly been there to help with.
00:02:52.560 --> 00:03:02.080
But in the past, we saw conservatives and Republicans saying, hey, let's recognize these mistakes and get the government out of the way to allow Francis to come back down to earth.
00:03:02.319 --> 00:03:11.919
Unfortunately, this time you see Republicans teaming up with some of the most progressive members of the Senate to move forward a deal that doubles down on the worst of the past 30 years.
00:03:12.240 --> 00:03:18.080
I'm not even sure I'd be as charitable as to call foca huntas Elizabeth Warren, uh, you know, progressive.
00:03:18.240 --> 00:03:21.759
She's she's sort of way, way out to lunch.
00:03:21.919 --> 00:03:32.319
But the one place I could see if the federal government wanted to push something, I may have thrown this idea at you uh before Joel, but let me throw it at you in a in a slightly different way.
00:03:32.560 --> 00:03:44.800
If the biggest problem that you can change right now, uh you can't really change the cost of materials, you can't really change the cost of labor very much, but you could c change the cost of government.
00:03:44.960 --> 00:03:56.319
So I'm told that in Los Angeles it's close to$300,000, uh about one-third of the cost of a house in government uh fees that have to be paid to build a single house.
00:03:56.560 --> 00:04:04.960
An average house in LA is about a million bucks, and about$300,000 of that is government rules and regulations and fees that you have to pay.
00:04:05.199 --> 00:04:12.240
Now, if the City of Los Angeles were to say we're gonna cut that in half, right there you've got a$150,000 reduction.
00:04:12.319 --> 00:04:27.360
And what is the how does the government suffer if you say you can't collect a toll of$300,000 to build a house any more than the you know the Iranian mad mullahs can collect$2 million tolls to go through the Strait of Hormuz.
00:04:27.519 --> 00:04:30.079
I think both of them are about equally evil.
00:04:30.319 --> 00:04:37.519
And if if you say, well, how do we get Los Angeles or California or any other state to stop doing that, you know what you could do?
00:04:37.759 --> 00:04:41.759
You pointed out that the federal government has agencies that buy these mortgages.
00:04:41.920 --> 00:05:01.120
And if they were to tell states, you know what, if you're going to do, if you're gonna have these crazy rules and regs, we're gonna pay to take the 25 states that have the most freedom for people to build their houses and the lowest cost of government, then we will give priority to those loans, and we may not buy the other ones at all.
00:05:01.360 --> 00:05:06.160
Now that one change, now that would be the federal government telling the states what to do.
00:05:06.319 --> 00:05:20.160
But it would be saying if you're gonna insist on collecting this gigantic toll at the front end before somebody's even put a shovel in the dirt, you're gonna demand 300 grand up front to be able to build a house, then we're not gonna buy your mortgages.
00:05:20.319 --> 00:05:24.720
You can sell them to somebody else in the market, probably under less favorable terms.
00:05:24.959 --> 00:05:35.680
Meanwhile, if you've got states that say, no, no, we're not gonna charge those kinds of fees, we're on the other end of the spectrum, then the federal government says we'll be happy to buy those mortgages all day long.
00:05:35.839 --> 00:05:38.079
Would that bring about the change we want?
00:05:38.800 --> 00:05:58.000
Uh look, I certainly sense the frustration and agree that places like LA, Seattle, Portland, they have some owners' restrictions contributing to the rising cost of living in Newport Beach and well aware of the impact that local zoning can have on the supply of housing and affordability.
00:05:58.079 --> 00:06:00.079
So that's certainly a driving factor.
00:06:00.240 --> 00:06:16.639
Um, but if you look at across other parts of the country, even across the Midwest, um, you've seen the price of housing, even in these areas you don't have the zoning issues, even in areas where population has been stable with the climate, you still see home prices increasing at a rate higher than inflation.
00:06:16.720 --> 00:06:20.639
And that's especially true in the lower to middle income housing market.
00:06:21.040 --> 00:06:24.639
And that primary driver is more than just the regulation.
00:06:25.040 --> 00:06:26.959
Um, it's more than just the tariffs.
00:06:27.199 --> 00:06:35.920
It's this long-standing house that we have of putting trillions of dollars, government dollars, into the housing market has driven the free spot.
00:06:36.639 --> 00:06:39.680
All that does is it it just drives inflation.
00:06:39.839 --> 00:06:42.399
By the way, Joel, you got to satisfy my curiosity.
00:06:42.560 --> 00:06:45.040
Did you end up with child care duty today?
00:06:46.079 --> 00:06:49.439
Um no, I did not, but I did end up with the delayed flight.
00:06:49.680 --> 00:06:50.560
With a what?
00:06:51.360 --> 00:06:52.560
With the delayed flight.
00:06:52.639 --> 00:06:54.879
But no, no, no childhood duty for me.
00:06:55.199 --> 00:06:55.519
Okay.
00:06:56.480 --> 00:06:58.480
Joel, I very much appreciate the time.
00:06:58.720 --> 00:07:02.319
Glad to get your phone calls and your emails at 866-HLars.
00:07:02.560 --> 00:07:06.160
That's 866-439-5277.
00:07:06.319 --> 00:07:11.279
Send your emails to talk at LarsLarson.com and I'll get those calls in just a moment.
00:07:11.439 --> 00:07:13.920
First, though, I gotta give you a piece of advice.
00:07:14.160 --> 00:07:18.240
Peace of mind actually matters, especially when it comes to your health care.
00:07:18.560 --> 00:07:21.920
But for a lot of Americans, the system does not make it easy.
00:07:22.079 --> 00:07:23.279
Prices are high.
00:07:23.519 --> 00:07:29.519
Access is inconsistent to say the least, and the process can feel really, really complicated.
00:07:29.680 --> 00:07:33.680
That's why more people are looking for better options and more control.
00:07:34.079 --> 00:07:39.839
I can tell you personally that all family pharmacy makes it simple, safe, and secure.
00:07:40.079 --> 00:07:41.759
Simple because you go online.
00:07:42.000 --> 00:07:46.240
You choose exactly what you need without somebody else telling you what to do.
00:07:46.399 --> 00:07:50.720
You fill out a quick online form, and then safe, licensed U.S.
00:07:50.879 --> 00:07:55.199
doctors review every single request and prescribe if appropriate.
00:07:55.360 --> 00:07:56.959
Now, have I done that myself?
00:07:57.120 --> 00:07:57.600
I have.
00:07:57.759 --> 00:07:58.639
It's simple enough.
00:07:58.720 --> 00:08:00.560
Even a talk show host could do it.
00:08:00.720 --> 00:08:05.759
Secure your information, and transactions are protected from start to finish.
00:08:05.920 --> 00:08:09.120
Now, all family pharmacy has everything in one place.
00:08:09.360 --> 00:08:19.040
400 prescription meds from maintenance meds to antibiotics, antivirals, ivermectin, mebezidol, hydrohydroxychloroquine, and more.
00:08:19.279 --> 00:08:20.240
No confusion.
00:08:20.399 --> 00:08:26.319
No long waits, no insurance headaches, just a better way to get what you need when you need it.
00:08:26.480 --> 00:08:32.080
Go to all family pharmacy dot com slash Lars and then use the code Lars10.
00:08:32.240 --> 00:08:33.919
That will save you ten percent.
00:08:34.080 --> 00:08:41.519
Again, that's all family pharmacy dot com slash Lars and save ten percent with my coupon, Lars Ten.
00:08:41.919 --> 00:08:44.080
You're listening to the Lars Larson show.
