The Harsh Reality of Housing Costs and Why Home Ownership Is No Longer Realistic

Hello, Earnest Mann here. One thing I hear about constantly is the excessive cost of housing, and with the average home price hovering around 360K, I completely understand the frustration. So many of you listen to my show looking for real answers, not recycled nonsense. In this episode, I present a radical housing solution that challenges the entire concept of modern home ownership, and I believe it is something that not only can be done, but should be done.

The American Dream and the Collapse of Single-Income Home Ownership

For nearly 80 years, home ownership as the American Dream has been relentlessly pushed on the public. From the end of World War II until around 1975, that dream was achievable, even on a single income. I lived it. My father worked a union job at a steel mill, and that income paid for a home, a car, food, and savings. That world no longer exists, and anyone pretending otherwise is ignoring economic reality.

Why Compromise Is the Only Path Forward on Housing

Workable solutions always require compromise. If you cannot accept that, then nothing changes. If you are sick of skyrocketing home prices, you must consider solutions that sound uncomfortable or even offensive at first. What I propose forces people to confront reality rather than cling to comforting illusions about ownership.

Never Own a Home Again and the End of the Mortgage Illusion

The only rational solution is to end private home ownership for the working class and convert housing into properties rented from banks and large financial institutions. I call this proposal Never Own a Home Again, or NOHA. Under this system, citizens are classified into citizens and subcitizens. Anyone earning under $1 million per year is a subcitizen and is legally barred from owning residential property.

There are no mortgages under NOHA. Mortgages are already a form of rent paid to banks, yet people falsely believe they own their homes. Until the final payment is made, the bank owns everything. NOHA eliminates that delusional thinking by making the truth explicit.

Renting From Banks and Accepting Economic Reality

Under NOHA, subcitizens rent homes from banks or private equity firms indefinitely. They remain responsible for maintenance, repairs, and upkeep, because banks do not tolerate losses. When financial hardship hits, and it always does, the property is repossessed just as it is today, except now there is no illusion of lost equity or ownership.

This system protects banks, corporations, and those with multi-million-dollar incomes, while forcing working people to accept their economic position honestly. It is a solution that business, law enforcement, and financial institutions would fully support.

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© 2020 - 26 The Earnest Mann Show

[0:01] One thing I hear about constantly is the

[0:03] excessive cost of buying a house. And

[0:05] with an average starting price of around

[0:08] 360K,

[0:10] that's something I can totally

[0:11] sympathize with. So, as a consequence, I

[0:14] know so many of you out there listen to

[0:17] my show for answers. I decided to come

[0:19] up with one. And if you just hear me out

[0:22] and watch or listen to the very end, I

[0:25] believe you'll agree it's a workable

[0:27] solution. or at least that you've never

[0:30] heard anything like this before. And I

[0:33] believe it's something that can and

[0:35] should be done.

[0:49] Now, before I go into some of the nuts

[0:51] and bolts of how this works, there's

[0:54] something I would like to make very

[0:56] clear. Workable solutions call for

[0:59] compromise. It has always been that way

[1:02] and it probably always will. And in

[1:05] order for this solution to work, you

[1:07] first and foremost must understand and

[1:10] accept that because if you can't, this

[1:13] proposal simply isn't going to work. And

[1:17] we're back to square one. So, if you're

[1:20] sick of the current situation with house

[1:23] prices, you have to consider solutions.

[1:26] sometimes radical solutions. So consider

[1:30] what I'm about to tell you with an open

[1:33] mind because this may be the only

[1:36] realistic option available. For

[1:39] approximately the last 80 years, home

[1:42] ownership, aka the American dream, has

[1:46] been relentlessly pressed into the

[1:49] consciousness of Americans. And since

[1:55] about 1975 or 30 years, that dream was

[2:00] certainly still doable. Not only that,

[2:04] it was doable on a single income. And

[2:09] it was the very end of it, I lived it

[2:12] and all of my friends and family lived

[2:14] it. I don't have to look up a lot of

[2:16] historical facts and figures to back

[2:19] that up because I lived it. My old man

[2:24] had a union job at a steel mill and that

[2:27] single income bought the house, a modest

[2:30] car, decent food, and savings in the

[2:33] bank. And I'm sure to many of you

[2:37] boomers out there, this is certainly no

[2:40] surprise.

[2:41] But that was then and it's certainly not

[2:44] the reality we live in now. And I want

[2:47] everyone to know from 17 to 70 that I

[2:52] completely understand that.

[2:55] Briefly before I continue, if you're

[2:57] enjoying this episode and you haven't

[2:59] already done so, please consider

[3:01] subscribing and hit that notification

[3:03] bell. By subscribing, you really do help

[3:06] the Earnest Van Show continue to grow.

[3:10] And if you leave a comment or a

[3:12] question, I actually read and respond to

[3:15] them all and I really do appreciate you

[3:18] reaching out. Now, back to the episode.

[3:23] Okay, here's where the rubber meets the

[3:25] road of what I'm proposing.

[3:29] The only rational solution is to stop

[3:33] any and all home purchases and convert

[3:36] the system to properties which are

[3:39] rented by banks or other large financial

[3:43] institutions.

[3:45] I'm proposing a program called never own

[3:48] home again or noa. And in general it

[3:52] would work like this. The very first

[3:55] part of the program, which is actually

[3:59] quite quick, simple and easy, is that

[4:02] citizens will be classified due to the

[4:05] Citizen Reclassification Act into two

[4:09] major groups, citizens and subcitizens.

[4:14] Subcitizens being defined as any

[4:16] individual earning less than $1 million

[4:20] per year. If you want a house for you

[4:24] and or your family, it is rented either

[4:27] from a bank or other financial

[4:30] institution such as a private equity

[4:33] firm for the entirety unless you are no

[4:37] longer in subscitizen status of your

[4:40] life.

[4:42] Under the new governmental guidelines of

[4:45] NOHA, you won't enter into a contract of

[4:48] sale, currently known as a mortgage,

[4:52] because the new system is not interested

[4:54] in any way for subcitizens

[4:58] property ownership since that has now

[5:01] been made illegal. eliminating any

[5:05] pretense or delusional thinking of

[5:08] potential home ownership by the

[5:10] subcitizen.

[5:13] Now, I hope so far I've been making this

[5:16] simple and clear, but if you're having a

[5:19] hard time following this, here's an

[5:21] example of the negative delusional

[5:24] thinking I was just talking about that

[5:27] noa would eliminate. When you speak to

[5:30] most people about their home today,

[5:34] chances are they have a mortgage, which

[5:37] means in reality they are renting from

[5:41] the bank. Yet they refer to the house

[5:45] they are occupying as their home.

[5:50] completely oblivious to the fact that

[5:52] until that very last payment on the

[5:55] original loan, aka mortgage is paid,

[6:00] they don't actually own anything. The

[6:05] bank does. And that's what I'm trying to

[6:08] describe when I say that house

[6:11] occupiers, which is what they should

[6:15] actually be called, are being

[6:17] delusional.

[6:19] Fortunately for our house occupiers, Noa

[6:23] takes care of that delusional issue by

[6:26] snapping them back very quickly into

[6:29] something called reality.

[6:32] You see, with the current system, when

[6:35] you eventually default on payments, and

[6:38] you will eventually default on those

[6:42] payments, usually for reasons beyond

[6:44] your control, the long story short is

[6:47] that the bank repossesses the property.

[6:51] So any and all money you did pay,

[6:54] including any equity, is gone. And that

[6:57] is the current reality of the current

[6:59] system of home ownership.

[7:03] Now bear in mind when it comes to real

[7:06] home ownership, I'm not remotely

[7:09] questioning the access of good, decent

[7:12] citizens buying a house here. those with

[7:16] multi-million dollar incomes,

[7:19] individuals which can legally purchase a

[7:22] home because they are not sub citizen

[7:25] status

[7:27] that can weather the storm of any

[7:30] economic uncertainty.

[7:33] But what I want to make totally clear is

[7:35] thanks to the simple and clear-cut

[7:37] choice provided by NOHA, subsitizens

[7:42] must remain in the house rental market

[7:44] indefinitely.

[7:46] Because even when a subsitizen does have

[7:50] a well-paying employment, they always

[7:53] manage to lose that employment. Once

[7:56] they lose that employment, they suddenly

[7:59] don't have a financial pot to piss in

[8:02] and they lose everything.

[8:05] So if we collectively understand this,

[8:08] the best move is simply to rent a home

[8:11] from a bank.

[8:14] Now, while you're renting that house

[8:16] under my new system proposal, you are

[8:20] still responsible for any and all

[8:22] property upkeep and maintenance as we

[8:26] obviously don't want to financially

[8:28] burden the banks. Any and all expenses

[8:32] related to that property are yours and

[8:34] yours alone. Because when the property

[8:37] is repossessed, and it will be

[8:40] repossessed, the bank doesn't want a

[8:43] property that is in poor condition,

[8:45] because that would represent a loss. And

[8:48] the bank or whatever financial

[8:51] institution it may be, just like a

[8:54] casino, is not interested in any way

[8:57] about loss. It is only interested in

[9:01] gain, their gain.

[9:04] I am telling you all this because I am

[9:06] sincerely hoping you will sympathize

[9:08] with the banks and corporations

[9:11] because these are the institutions that

[9:14] require a much higher level of income

[9:17] than you.

[9:19] You really need to understand that banks

[9:22] and corporations are now people too.

[9:26] They have feelings and needs and the

[9:28] lifestyle they have is quite expensive

[9:31] and as a consequence someone has to pay

[9:35] for that level of extravagance and that

[9:38] someone really needs to be you. So, if

[9:42] you would please take all of that into

[9:45] consideration, I can only sincerely hope

[9:47] that you will pass this suggestion for a

[9:50] project never own a home again to your

[9:54] local state representatives so they can

[9:57] draw up the bill that hopefully will

[10:02] I sincerely believe that with your help

[10:08] home ownership and get accustomed to the

[10:15] week job to keep those in positions of

[10:22] homes. which the subsitizen who doesn't

[10:30] clearly doesn't deserve.

[10:36] that I know I've left out a lot of

[10:43] it's a very rough draft, I truly believe

[10:49] certainly have business support and

[10:56] because police always support business

[11:03] banks.

[11:07] that's all I've got for today.