You Do Not Have a Right to a Home!

You Do Not Have a Right to a Home! www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Here's a bit of a news flash, at least for now.
At least for now, I just want to letybody know.
You're not entitled. You don't have the right to a house.

Speaker 3 (00:28):
You don't have the right to house. Again.

Speaker 2 (00:30):
This is one of these things that are becoming all
in vogue now because the price of housing has gone
through the roof, and everyone thinks they have some sort
of right to an affordable house in any neighborhood that
they choose.

Speaker 3 (00:46):
Wrong. You don't listen.

Speaker 2 (00:51):
I don't like the higher cost of housing. And there's
a myriad of reasons why that's the case, some of
which is regulations, some of which is yeah, some of
which is zoning. That was shocked to see it was
actually in Reason, which is a libertarian publication. Families need
affordable housing, but New York residents use red tape to

(01:14):
block development with the help of New York's Environmental Review
Law Local nimbi's not in my backyard, halted an improved
housing project and its delays and costs in a city
facing a howdens and shortage, and they're going to not
far from where I grew up In Troy, New York,
they regulators greenlit and eleven unit apartment building out a

(01:36):
vacant lot.

Speaker 3 (01:37):
However, the.

Speaker 2 (01:40):
Neighbors didn't want it. The neighbors didn't want it. Now again,
Troy will used to be described when I was growing
up as a toilet, Troy the toilet, and they've managed
to turn it around. I can understand residents being a

(02:00):
bit concerned by putting in inexpensive housing in an area
that has been revitalized. Yeah, the same thing about where
I used to live in New York, the North Store
Long Island centerport On. One person wanted to go up

(02:20):
an extra floor make it. They said, the only way
I'm going to make it affordable, it had to be
three or four floors, and residents are like, no frickin way,
We're not opening up this can of worms, because then
it's going.

Speaker 3 (02:32):
To happen everywhere.

Speaker 2 (02:33):
And again, the neighborhood had a certain New Englandy flare
to it. Single family homes and that's just the way
that people wanted it. It's their community. You're not entitled
to live anywhere. Okay, there's different affordability. Yeah, I want

(02:54):
a house on the beach in Malibu.

Speaker 3 (02:56):
Huhh. I don't have fifteen million.

Speaker 2 (02:58):
Dollars to pay for that. So you know what, we
should put out a multi multi family unit there, just
to make it accessible to everyone. Wrong, you can earn
your way into certain places. Granted, granted, do we need
more housing here in this country?

Speaker 3 (03:16):
Yeah? We do. But what do we need to be
doing that. We need to be knocking down.

Speaker 2 (03:22):
Commercial buildings that are no longer of use. Government buildings again,
eighty five percent of government workers.

Speaker 3 (03:29):
Don't even come in anymore.

Speaker 2 (03:32):
Got a lot of space available out there where you
can turn this around. That's what needs to be done.
You know, it's this basic rules of economics. Quite frankly,
I got a quote I want to share with you.
This is from the great Thomas Soul. So, the first

(03:53):
lesson of economics is scarcity. There's never enough of anything
to fully satisfy all those who want it. The first
lesson of politics is a disregard the first lesson of economics. Now,
when politicians discover some group that is being vocal about

(04:13):
not having as much as they want.

Speaker 3 (04:15):
They want their fair share.

Speaker 2 (04:17):
I want this house, I want to live in this neighborhood.
It's to give it to them. Where do politicians get
this more, Well, well, they rob Peter to pay Paul,
and then eventually they figure out that Peter doesn't have enough.
Oh so then they got to run to the rescue.

Speaker 3 (04:39):
Again.

Speaker 2 (04:41):
They don't admit that robbing Peter to pay Paul was
a dumb idea in the first place. Now they go
after Tom, Dick and Harry to help Peter. And again
that's how our politicians work. Let the free market decide
when it comes to housing. We talked about housing and

(05:02):
urban development and subsidies and you get rid of all
of that nonsense. We talked about home ownership rates in
this country, talked about the problems that we have right
now with commercial real estate and the need to turn
a lot of these old office buildings, knock them the
hell down and turn them around. It's happening in certain places,

(05:24):
but for people out there that think that you have
the right to come in and change the look and
feel and dynamic of a neighborhood because you're entitled to
a house.

Speaker 3 (05:35):
You're not. You're not.

Speaker 2 (05:39):
Yeah again, this is a little bit not a personal
note right now.

Speaker 3 (05:44):
I got to call for my mother, Yesterda. I got
to call with my mother.

Speaker 2 (05:46):
Yesterday and she's like, Chris, you're right. I was like, yeah,
I look the shirt. Don't doubt me. But anyway, you're
right what they're trying to do. She lives on a
barrier island here in Flora to cole Mannesota, Key and
it was wrecked.

Speaker 3 (06:05):
It was wrecked.

Speaker 2 (06:06):
Now again, other don't doubt me. I knew eventually it
would be wrecked. I eventually it would be wrecked. They
had lots of lots and lots of old houses.

Speaker 3 (06:21):
You're talking, you know, fifty seventy five, one hundred.

Speaker 2 (06:23):
Years old at the water level on the beach on
the inner coastal. This place never got hit by a storm.
I said, go fishing out of there. Told the story
going through the inner coastal, going back into there, and
I'm like, this place gets it went, Oh my lord, merciful,
it's going to be devastation. And that's what happened. That's

(06:47):
what happened with Playing and Milton this past year. And
there's absolute devastation. And I told my mom, I said,
what's going to happen is is that the powers that'd
be developers are going to work with their buddies in
government and they're going to look to have the zoning
changed for your Barrier Island and they're going to look

(07:11):
to build up and change density and what they're able
to do. And enough, sure enough, I got it. You know,
my mom tells me, Yeah, that's they're trying to do.

Speaker 3 (07:23):
People are pushing back.

Speaker 2 (07:24):
They're going to have a vote on it next week.
I said, well, you guys better get organized. You guys
better get organized, but quick or yeah, you're a Barrier
Island is going to turn.

Speaker 3 (07:34):
It's going to have high rises.

Speaker 2 (07:36):
Now again, I don't have any problem you know, certain
places and having higher rises and higher density, but if
the people there don't want it, they don't want it. Also,
with that being said, okay, you know what, you may
have to allow people to combine properties whatever it may be.

Speaker 3 (07:52):
There's a lot of things that are.

Speaker 2 (07:54):
Involved with all of this, and again getting to you
get back to scarcity, you get back to what people want,
You get back to what the government was pushing. It
was Kamala Harris, we're gonna have green light three million homes, ten.

Speaker 3 (08:08):
Whatever million homes. She was going to green light. It's
not so easy. It's not so easy. The reality is
you don't have the right to a home.

Speaker 2 (08:19):
You have the right to go out and earn money,
save it, put a down payment, and buy a home
that you can afford. Watchdog on Wall Street dot Com