Latest / Chuck Douglas / More on Affordable Housing and your calls

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More on Affordable Housing and your calls · Chuck Douglas

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  Speaker 1: Chuck Douglas a power hoursixten up you TV and laughably
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  Speaker 1: they call it affordable housing. I call it smoking mirrors
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  Speaker 1: and just you know, maneuvering a round of money from
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  Speaker 1: one place to the and it's you know a lot
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  Speaker 1: of the I've I've had the beloved habitat I've had
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  Speaker 1: a problem with because of the way that you know,
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  Speaker 1: things are structured. It. Uh where houses provided, Yes, did
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  Speaker 1: people get the experience of working and helping to build
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  Speaker 1: their own houses. Yes. However, when it came to the
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  Speaker 1: dollar signs, I've just always had a philosophical issue of
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  Speaker 1: moving money from one way. This is what they do
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  Speaker 1: when government gets involved. I've talked before about the uh
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  Speaker 1: it used to be, you know, back in the ward
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  Speaker 1: clever days. Uh. I want to buy your house, minister,
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  Speaker 1: but I just I don't have the down payment. Well
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  Speaker 1: I'll tell you what, buddy, you seem like a good
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  Speaker 1: young market. I'll give you the down payment and we'll
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  Speaker 1: just add that to loan. You can pay me back
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  Speaker 1: part of your loan on that. Okay, that's fine, And
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  Speaker 1: they did well. The government said oh no, no, no, no, no,
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  Speaker 1: that's an inducement. You can't do that. So what was
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  Speaker 1: the way they fixed it? By inserting a nonprofit entity
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  Speaker 1: in the middle of it. There was a Marriag Dream
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  Speaker 1: in Neemyah were the two most popular when I got
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  Speaker 1: started in real estate. Let's say I wanted to give
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  Speaker 1: Zach five thousand dollars to use as a down payment
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  Speaker 1: to buy my house. I couldn't give it to him.
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  Speaker 1: That's illegal, It's an inducement. So I would pay five
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  Speaker 1: thousand dollars to a marriag Dream or Namayah in his name.
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  Speaker 1: I would also pay a marriag Dream or Niamia five
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  Speaker 1: hundred dollars for you know, because nonprofits have to make
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  Speaker 1: money for facilitating this. They would then pay Zach's down
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  Speaker 1: payment in a grant. Now think about this, giving Zach
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  Speaker 1: the money and saying I'll just put it on your loan.
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  Speaker 1: Instead of buying my house for one hundred thousand, he buy
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  Speaker 1: for one hundred five thousand. He is pay it back.
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  Speaker 1: I'm giving it to a nonprofit. They're charging me a
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  Speaker 1: fee to give it to them. Then they give it
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  Speaker 1: to him as a grant that he never has to
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  Speaker 1: pay back, instead of allowing me to just be nice
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  Speaker 1: to him and put it on his his loan amount,
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  Speaker 1: so you can just pay me back over time. Why
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  Speaker 1: was that illegal in the first or when? Why did
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  Speaker 1: they make that? Because it's considered an inducement.
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  Speaker 2: I don't know what that means.
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  Speaker 1: That means you're you're being, in one way, shape or
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  Speaker 1: form maneuvered into buying a house. Uh that's still which frankly,
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  Speaker 1: I mean it flies in the face of of of
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  Speaker 1: legal and so forth. But I I think, honestly, unless
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  Speaker 1: you're you're affecting a protecting class and those are written
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  Speaker 1: out in black and white, you should just if I
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  Speaker 1: disclose it. Everybody knows about it. It's written down and
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  Speaker 1: signed off on. Government could just get out of the way.
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  Speaker 1: If I want to pay now, you can still pay
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  Speaker 1: the closing cost or credit the closing cost, but you
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  Speaker 1: can't give money for their down payment. Just crazy, absolutely crazy.
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  Speaker 1: This is what happens when government gets involved in stuff
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  Speaker 1: the government doesn't know. Squad about A two or nine
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  Speaker 1: and eight six A two on w TV And back
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  Speaker 1: to the phone calls. John, you're on SIXTENDATV at height.
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  Speaker 2: Hey, Jeck, just giving your call about this ridiculous thing
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  Speaker 2: they're doing. Uh, you know what they're gonna tell you
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  Speaker 2: don't worry about it, you know, just go get a
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  Speaker 2: thirty four percent interest rate credit card. You know, if
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  Speaker 2: you're running into trouble, you know.
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  Speaker 1: You.
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  Speaker 2: Do not have a teenage kid out there that can
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  Speaker 2: afford that type of money, that type of parking arrangements.
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  Speaker 2: And they know it.
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  Speaker 1: Yeah, I doubt I doubt that any young person who
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  Speaker 1: has enough responsibility to get their first apartment. You know,
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  Speaker 1: you're gonna pay for parking hourly. Then you're not going
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  Speaker 1: to have a car. What are you going to do?
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  Speaker 1: You come home ten hours, you go to work, and
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  Speaker 1: you come home, So fourteen out of twenty four hours
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  Speaker 1: you're paying hourly parking. That's going to be as much
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  Speaker 1: as you're rent by the time they get done with you.
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  Speaker 2: Yes, and that's the whole problem. Then they force you
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  Speaker 2: to the credit cards and they say, oh, we're sorry. Here,
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  Speaker 2: go ahead and get on food stamps, you know, get
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  Speaker 2: on Assistance's ridiculous.
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  Speaker 1: There you go. But John, seriously, I believe ultimately that
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  Speaker 1: is the plan. If you beat people into financial submission
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  Speaker 1: and get them to come a call in so they
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  Speaker 1: can get the food stamps, or they can get the medicaid,
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  Speaker 1: or they can get the general assistants or whatever they
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  Speaker 1: call it these days. You you get them beholding to you,
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  Speaker 1: You control them.
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  Speaker 2: Love the Democrat.
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  Speaker 1: Yeah, yeah, we are. We are puppets in a lot
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  Speaker 1: of ways. I appreciate you, buddy, Thanks very much for
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  Speaker 1: the call. E two one nine eight eighty six A
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  Speaker 1: two un up a UTV. And yeah, yeah, that's that's
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  Speaker 1: why every time the when I hear politicians talk we've
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  Speaker 1: got to do something about the economy, I about half
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  Speaker 1: believe them. I about half believe them, because the more
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  Speaker 1: in need you are are of what they have, the
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  Speaker 1: more compliant and submissive you are going to be. You've
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  Speaker 1: been traveling through the desert, been through the desert on
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  Speaker 1: a horse with no name. You come up on me,
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  Speaker 1: I got some water. Well, if I want you to
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  Speaker 1: tap dance and sing me a pretty tune, You're gonna
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  Speaker 1: tap dance and sing me a pretty tune. And they
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  Speaker 1: know that that is the nature of government in twenty
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  Speaker 1: twenty five and for years before that. Submission and compliance
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  Speaker 1: are ultimately what you want. If you are if you're
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  Speaker 1: the one in power, you're in control. The last thing
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  Speaker 1: you want is people out here acting of their own accord,
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  Speaker 1: making their own decisions, taking their own chances. You've got
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  Speaker 1: to control everything. There is an extent to which that
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  Speaker 1: can benefit society and you as an individual, But that
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  Speaker 1: extent was passed a long time ago, and we're way
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  Speaker 1: above and be as far as I'm concerned. A TWOTV
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  Speaker 1: and Aaron, you're on the Legacy Retirement Group dot com
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  Speaker 1: phone line.
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  Speaker 3: Ty Hey, So I don't understand why they're not concentrating
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  Speaker 3: more on the areas that are gonna require the most labor,
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  Speaker 3: you know, like out there in Lockborn, out there down
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  Speaker 3: there where they've got all them warehouse all that DHL
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  Speaker 3: stuff going down down by Rickenbacker that they put those
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  Speaker 3: houses on Groveport Road. Those are about three hundred and
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  Speaker 3: fifty thousand right there at Groveport down from the Wendy's.
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  Speaker 3: Those new they're like one story, two and three bedroom condos.
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  Speaker 3: They're about three hundred thousand. And then if you go
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  Speaker 3: out to Atna, the newest places they got out there,
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  Speaker 3: those are all three hundred thousand. There's a big apartment
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  Speaker 3: complex that went in just east of Taylor and Broad.
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  Speaker 3: There's a bunch of but it's not enough because they're
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  Speaker 3: building warehouses and they're building industry way faster than they're
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  Speaker 3: putting up houses, and then they're gonna they want to
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  Speaker 3: put three hundred thousand dollars quote unquote affordable houses downtown.
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  Speaker 3: I mean, where are all the people going to work?
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  Speaker 3: They're just it's another example of this city not having
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  Speaker 3: any foresight.
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  Speaker 1: Well, and it's it's people, it's markets, it's everything. There
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  Speaker 1: is no such thing as foresight anymore. I think my parents,
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  Speaker 1: if I remember accurately and over the years, you hear things,
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  Speaker 1: I believe in nineteen fifty nine, my parents' first home
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  Speaker 1: was seventeen thousand, five hundred dollars. Now at that time,
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  Speaker 1: I believe Dad was making about sixty five hundred dollars
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  Speaker 1: a year. So seventeen thousand, five hundred dollars as sixty
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  Speaker 1: five hundred dollars a year income. Now fast forward that
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  Speaker 1: to where seventeen thousand, five hundred dollars becomes one hundred
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  Speaker 1: and seventy five thousand dollars. Was that same line of work,
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  Speaker 1: that same type of thing generating sixty five thousand dollars
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  Speaker 1: a year in income. This is where we have a
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  Speaker 1: problem if income does not go up in accordance with
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  Speaker 1: the price of the housing going up. If the housing
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  Speaker 1: goes up much faster, much higher, then fewer people can't
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  Speaker 1: afford what you're selling. And if the house costs, you know,
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  Speaker 1: five hundred thousand dollars, that's fine as long as income
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  Speaker 1: goes up at that same type of rate, because ultimately,
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  Speaker 1: the dollars, it's what we put on paper. It's just
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  Speaker 1: it's just a way of marking down things. Whether it's
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  Speaker 1: one hundred thousand dollars or ten bucks, it's all the same.
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  Speaker 1: It's just we like to feel better, so we make
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  Speaker 1: more money. And when we make more money, we spend
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  Speaker 1: more money, and stuff costs more. The cost of everything
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  Speaker 1: continues to go up faster than the income of the
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  Speaker 1: people who are buying everything. And this is where we
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  Speaker 1: end up with I need food stamps, I need Medicaid,
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  Speaker 1: I need whatever, and they like it that way.
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  Speaker 3: Well, unless you think about the people that are coming
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  Speaker 3: in to fill all these high tech jobs moving in
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  Speaker 3: from California and the West Coast and Texas and places
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  Speaker 3: like that, that are coming here for these high tech
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  Speaker 3: jobs that they're used to paying half a million dollars
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  Speaker 3: a million dollars for a house, So three hundred thousand
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  Speaker 3: dollars is nothing to them, So I don't think they're
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  Speaker 3: going to have any trouble selling them. Chuck. Yeah, Well,
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  Speaker 3: my problem is is the people that are supposed to
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  Speaker 3: be benefiting aren't. They're going to be pushed out.
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  Speaker 1: I don't know that they're selling these apartments. That was
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  Speaker 1: the gist of the story that we are seeing an
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  Speaker 1: average to build similar apartments in Ohio of sixty five
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  Speaker 1: to eighty six thousand dollars. They're spending three hundred and
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  Speaker 1: fifty three thousand, six hundred dollars per unit on this,
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  Speaker 1: So the rent is going to have to be probably
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  Speaker 1: substantially higher than what you're paying for an apartment that
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  Speaker 1: costs ninety thousand dollars to build. So how are people
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  Speaker 1: going to afford the rent that's going to be required
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  Speaker 1: for that kind of expense? And then they start talking
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  Speaker 1: about all these programs that are involved in how they
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  Speaker 1: have to meet these standards. Well, what that means is
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  Speaker 1: they could probably do it for one hundred grand, but
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  Speaker 1: because of all these standards, and if you want the
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  Speaker 1: free money for the development and you want the tax
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  Speaker 1: incentives for the development, you crank up the price in
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  Speaker 1: order to elevate the housing costs, and so Columbus can go, Look,
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  Speaker 1: our housing is now inflating to this much in downtown Columbus.
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  Speaker 1: Is this valuable to people?
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  Speaker 2: Well?
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  Speaker 3: Not only that, what about all this you said before,
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  Speaker 3: the green Edge Energy initiative, of all this, who's benefiting
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  Speaker 3: from that craft and green initiative initiation? You know what
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  Speaker 3: that means to me?
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  Speaker 1: Cheap?
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  Speaker 3: But it's still three times the cost of normal material.
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  Speaker 1: There you go, there, you got I agree with you.
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  Speaker 1: This stuff that they are saying, is that environmentally friendly
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  Speaker 1: and so forth? Usually does not? I mean, go back
• 10:45
  Speaker 1: to Mosquitos. Every time we complained about Mosquitos. You know what,
• 10:48
  Speaker 1: I think we got rid of DDT, which killed everything.
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  Speaker 1: Pterodactyl could fly over your house. Man, you spray some
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  Speaker 1: DDT up there, the pterodactyl comes down. Now you get
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  Speaker 1: five hundred different sprays and candles and torches and everything
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  Speaker 1: else burning in your backyard, and you still hear the
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  Speaker 1: sounds of guests smacking their legs when they come over
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  Speaker 1: for an eating barbecue. I just it doesn't make sense.
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  Speaker 1: Get rid of what works in favor of what doesn't work.
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  Speaker 1: Because somebody like aoc or al Gore. You know, al
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  Speaker 1: Gore's got to be mad. You know, I'm not getting
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  Speaker 1: any more carbon credit only everybody's love it on her.
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  Speaker 1: It's not aw that's not fair. You know, he's got
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  Speaker 1: to be upset. Do you remember when he was pushing
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  Speaker 1: the carbon credits, Zach, were you cogent enough or coherent
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  Speaker 1: enough when it came to political stuff when al Gore
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  Speaker 1: was selling the carbon offset credits?
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  Speaker 3: Sure was?
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  Speaker 1: I remember an inconvenient truth.
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  Speaker 2: I think I may have went to see it.
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  Speaker 1: Do you remember when the news story broke about the
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  Speaker 1: highest user of cold powered electricity in the state of Tennessee. Yes,
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  Speaker 1: it is al Gore, al Gore's mansion. Was you using
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  Speaker 1: more electricity while he's telling you you need the ball
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  Speaker 1: off set credits carbon offset credits because you own a
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  Speaker 1: cow and the cow farts and that creates greenhouse gas,
• 12:11
  Speaker 1: so you get about credits for your cow. And his
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  Speaker 1: Tennessee mansion was burning more. Maybe it was in his
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  Speaker 1: city that he is litter burning more electricity than any
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  Speaker 1: other any other building in the city. This is the
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  Speaker 1: disingenuous nature of people that seek to control you. Zach
• 12:34
  Speaker 1: seeks to control me pretty much every day. I have
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  Speaker 1: yet to let him get away with it. Are you
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  Speaker 1: does anything you need to do? I'm just saying the
• 12:41
  Speaker 1: stuff that you you do to me and say to
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  Speaker 1: me and send me and so forth. It just do
• 12:46
  Speaker 1: you know how many people you could like and go?
• 12:49
  Speaker 1: Why do you let Chuck abuse you so much? No,
• 12:52
  Speaker 1: they do not. Constantly, they do not. Everybody knows. Everybody knows.
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  Speaker 1: I'm way nicer to you than I should be. None
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  Speaker 1: I've done wrong. I sent you some funny videos. That's it.
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  Speaker 1: I got free to describe them. You got to get
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  Speaker 1: out of here.