WEBVTT
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Do you feel restless and anxious, feel like something's missing
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in your life? Maybe you just need a little more
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treehouse in it. Go to patreon dot com slash Treehouse
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o in dot com slash Treehouse on air.
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It is time believe your worries outside and laugh with
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us inside the treehouse. I'm Daniel Malley along with Trade
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Trendholm and Raj Sharma. Coming up today, Low brain activity
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something we know all too well. Here inside the Treehouse
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we dream McConaughey, and today we start with no surprise.
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Dallas ain't cheap, y'all. A new report states a single
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adult in Dallas Fort Worth needs an annual pre tax
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income of one hundred and seven thousand and sixty one
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dollars to live a financially comfortable lifestyle. This required salary
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depagately exceeds the median personal income of DFW residents, which
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is currently only fifty one thousand and six h nine.
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So what some experts are saying you need to live
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comfortably in DFW is double the median salary in DFW.
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The study used the fifty to thirty twenty budgeting rule
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fifty percent on needs, thirty percent on once, and twenty
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percent on savings or debt. That's what they used to
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calculate the necessary income. I think you could argue that
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most people don't live by the fifty thirty twenty. It's
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more like the seventy forty thirty. And I know that
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doesn't add to one hundred because I feel like most
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people live in debt, and I feel like there's I
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think even from the true A Federal Bureau of Labor
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Statistics has even supported that, Like there was even another
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study it said in America, so not just THEFWS, but
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in America, people that make six figures still struggle with debt,
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credit card debt, all these things.
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There are all that.
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Are we all that dumb? Or is it just is
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it just you know? What is it? What's the reason
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for this?
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I don't know that.
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When I was living in Los Angeles, there was a
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guy who was on the news with it was him
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and his daughter, and he has a full time job
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forty hours a week and he lives in a tent
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under the four or five Jesus, that's where a full
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time job. Yeah, it's a decent pain job. Yeah, but
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he just couldn't The cost of living is so outrageous
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in Los Angeles. He couldn't afford it anymore. So they
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got a gym membership and that's where the day, you know,
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they go and shower and change and all that stuff.
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And they both an a tent.
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Not to be a total you know jerk here, but
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how much is that content? Well, I mean financing. Yeah,
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what sort of a mortgage rate did he get on
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the California four or five tent?
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I think the tent was a last minute purchase after
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he left the apartment. Okay, that's where that came from.
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And rent under a bridge, I believe is free. I'm
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pretty sure.
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It has costs. It definitely comes with costs. Look, I
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think there are a number of factors that go into this,
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not the least of which is that, you know, I
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feel like wages have been pretty stagnant over the years,
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whereas or at the very least falling behind the rising
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costs of other things.
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Well, I mean the biggest crisis we face right now
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as far as affordability, and it's the hardest one to
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figure out how to unravel. But it's it's Airbnb and
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and and these corporations that are gobbling up you know, homes, condos, everything,
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and it is driven rent and home prices through the roof.
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Do you think, Trey, that's a bigger cause for financial
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difficulty in people's lives or wage stagnation?
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I think, I mean, statistically, wages have gone up enough,
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it's but home prices, your cost of living has especially
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since COVID has just gone through the roof. And a
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lot of it is you know, people sucking up properties
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for airbnbs and then then you have these massive corporations
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that are buying properties as investment for airbnbs, and that
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that right there, I think is absolutely the biggest cause
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there is.
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There was a there was another news story I saw
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this past weekend that basically said that there are fears
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that the host the hosing Jesus, the hop the home housing.
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I put the do together, the hosing economy. That's actually
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what this is. It is the hosing economy. Uh, middle
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class gets hosed absolutely because you might get it, you
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might get a three percent raise if you're lucky, but
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you can't keep up with the corporations buying all the
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properties around you and the inflated costs of those things.
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And because of that, then your property taxes go up
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if you happen to be a homeowner anyway, right, part
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of that does that's the trickle down economics that nobody likes.
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And so one of the stories I saw over the
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weekend was that the housing market might be close to
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or getting in the neighborhood of a correction, but one
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that could be worse than what happened in two thousand
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and eight, not because of bad loans that went out
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like in you know two thousand and eight area, but
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because of all the corporations buying up all these houses
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and it's just overinflated home prices. It's absolutely insane.
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What is it?
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Oh, I was just gonna say, like Las Vegas, like
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there's a whole I can't. I think it's like two
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or three Chinese run companies have bought like I can't
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remember if it's Henderson or in Paradise County, but they've
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bought like twenty percent of the housing market just because
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it's for them.
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It's just cheap.
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That seems so odd to me. Like when I first
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saw a news story about a foreign companies buying land
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in America, my first thought was, huh. I thought like
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there had to be some sort of major approval process.
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And my assumption is that it would be for commercial
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use kind of a thing like like the Toyota plant
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in San Antonio. I think that's still operational where they
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build trucks and SUVs and stuff. I mean, Toyota is
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a Japanese company, but they're commercially building things in America.
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But now you're talking about foreign companies going in buying
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private land for real estate stuff, and that to me,
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it's just mind boggling that that's a thing.
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It's a safe I mean, if you think about it,
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I mean, it's one of the safer investments you could
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make in the world that has I mean beyond you know, bonds,
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you know, US government bonds are real estate market. You know,
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especially if you know you're in it for ten years,
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you're going to make money.
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Yeah, and that and that's what I mean. That's the
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part that surprised me is I didn't know as a
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foreign company you could buy non commercial like residential real estate.
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That to me, it was just like really, I don't know,
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it just seems weird that we would have our country
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for sale, of our country for sale.
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It's it's a big issue, and it's like one that
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states are talking about about, especially farmland, about you know,
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foreign nations owning our farmland and everything else.
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Yeah, because I don't think we'd be allowed to buy
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plots in China.
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No.
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Yeah, you can't buy land in Mexico technically, yeah.
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Because because if in like residential stuff in Mexico, you
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never actually own it. Like if you buy a condo
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in Mexico, it's isn't it. It's just like a ninety
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nine or one hundred year lease.
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If you're not if you're not a citizen of Mexico. Yeah.
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Right, So that that's why it's so odd to me,
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because we're we we allow it to happen. And that's
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and that's going to be our biggest that's going to
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be our our great failing, is the fact that we
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set all this in motion to screw ourselves.
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Yeah, I mean that was you know, especially in the
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early eighties, is when you know Japan started like South
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In Corporation bought Rockefeller Center.
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South Incorporation as an American corporation.
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There's a Japanese US it's not okay.
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South Incorporation was started in Dallas, Texas. It's the parent
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company at seven to eleven. It was that it was
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the Thompson family.
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I thought it was.
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I thought it was bought out. I thought it was
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bought out. But it's a Japanese company that owns like
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Times Square, I was bought up by And that was
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in the early eighties, and so that started happening then,
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and it just caught on Hawaii I think is half
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Japanese owned.
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Oh that was a whole I mean, but the Japanese
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were just looking for investments, you know, and that's h
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Everyone thinks the Chinese government has more nefarious things afoot.
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Well, I mean, I've never heard the term of foot
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used in a very long time, you know.
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What, though, I'm glad he did because it calls attention
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to it. It stood out more, didn't it. Yes, absolutely,
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if you see a headline that says foreign nation is
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doing is doing something and something something is afoot, you're
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going to pay attention to that.
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Well, but it's I mean, this is before I don't
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like how Trump is handling the immigration thing. I don't like.
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But we should never have gotten to this point where
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we let so many people in and all of a
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sudden we're like, oh, we don't know who's in our
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country because no other country does that. Yeah, and the
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same thing, I mean, we we are already one of
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the biggest problems in this country is it's like we
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let it become a huge problem, then we go, oh,
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we' probably should do something about that.
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He said. He said, we have a we have a
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real reactionary problem in this country. We don't like to
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solve any problems because we have a difficulty in doing
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it because the problem has run them up for so long.
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We don't know how to go back and fix it.
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Because most of our problems they're not problems that happened overnight.
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They're problems that happened over twenty thirty, forty fifty, sixty
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eighty years of this of this stuff. And that's how
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it's crazy to me. I think about I know roughly
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what my parents made in the eighties. I remember the
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Honda Accord they bought in nineteen eighty six, Honda Accord
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d X, and that was a little beat ninety nine
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hundred bucks in nineteen eighty six. By today's standard, that's
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like a one hundred thousand dollars car adjusted for the
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relation and all that kind of stuff. I mean, that's
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insane when you think about it.
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Yeah, before they you know, reformed their or their image
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or whatever, it came good.
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The key Rillo you could buy one, get one free.
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I remember that.
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When when the head of Kia got visited by three
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spirits in the night and woke up and said, KI,
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is there everybody?
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Yeah, it was buy one, get one free for the
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Kyrillo and it was ten grand.
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Oh my god, that's insane.
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Yeah.
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My first like when I saw the ad, I was like,
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how shitty is this car? Just like, you know what
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ten grand? Take two of them? Like I'm trying to do.
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You want to talk about something. Car prices are just
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oh yeah, insane.
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Yeah, but it's all the new car prices are insane.
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The used cars are plummeting in value, which is really odd.
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They will until the economy tanks and then all of
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a sudden, used car prices are Yeah, people are either
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holding on to them or they're buying us. But I
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mean f two fifty or an escalator. They're all over
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one hundred thousand dollars. I mean, it's yeah crazy.
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Yeah, my brother got uh because they have, you know,
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multiple kids, so they're always taking them to practices and stuff.
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So they uh, he's got the uh the suburban uh
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and he just bought a brand new one and that
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was one hundred and one hundred and ten thousand dollars.
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From So I did a I did a quick check.
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I was way off of my Honda Cord math by
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the way. Yeah, I was, Oh, you don't know who
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owns South Lane. You'll be quiet. Uh. So in nineteen
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eighty six, if it's whatever. Uh, in nineteen eighty six,
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ninety nine hundred bucks is equivalent to approximately twenty nine
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thousand dollars to day, and and the the MSRP of
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a the starting MSRP for a Honda court Lex today
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is twenty eight ninety five. All Right, I guess that's
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not as bad as I thought. But still, my parents
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could afford that car much more. It was much more
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affordable in the eighties than it is today.
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Oh yeah, I mean you could buy you know, you
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can buy a house because your mortgage wasn't that extravagant,
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like my my nephew just bought his house and luckily
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he was in the military.