The Matt Walsh Show - Ep. 1781 - The Hidden Reason Why Prices Are Skyrocketing

Episode Date: May 18, 2026

Gas, everyday products, and homes are all skyrocketing in price, and this might be the common denominator. Ep. 1781 - - - Click here to join the member-exclusive portion of my show: https://d...wplus.watch/MattWalshMemberExclusive - - - Today's Sponsors: Leaf Filter - Schedule your free inspection and get up to 50% off install plus $250 at leaffilter.com/WALSH Mack Weldon - Go to https://MackWeldon.com and get 20% off your first order of $125 or more, with promo code WALSH Boll & Branch - Get 15% off your first order + free shipping at https://BollAndBranch.com/walsh with code walsh. ZipRecruiter - Post jobs FOR FREE at https://ZipRecruiter.com/WALSH - - - DailyWire+: Become a Daily Wire Member and watch all of our content ad-free: https://dwplus.watch/RealHistorySubscribe 📲 Download the free Daily Wire app today on iPhone, Android, Roku, Apple TV, Samsung, and more. 📜 Real History with Matt Walsh is available ad-free, exclusively on DailyWire+ https://dwplus.watch/RealHistory 👕 Get your Matt Walsh flannel here: https://dwplus.shop/MattWalshMerch - - - Socials:  Follow on Twitter: https://bit.ly/3Rv1VeF  Follow on Instagram: https://bit.ly/3KZC3oA  Follow on Facebook: https://bit.ly/3eBKjiA  Subscribe on YouTube: https://bit.ly/3RQp4rs - - - Privacy Policy: https://www.dailywire.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Starting point is 00:00:00 Young men feel directionless, and one of the best answers to that problem is building something real. Start a business, learn a trade, create something new and useful. Take ownership over your own life instead of waiting around for permission from some corporation or government agency. The problem is that actually building a business is hard enough already. Then you run into the banking system. A lot of small business owners are profitable. They're growing and doing everything right. But big banks still bury them in paperwork and drag the process out for weeks or months, just to access capital they need right now.
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Starting point is 00:00:58 buying equipment and inventory. Banks try to lock out small businesses. Cardiff has the key. Big banks may not want to approve your business loan, but Cardiff does. If you've been in business for at least a year, pulling in $20,000 a month in revenue, apply now for up to $500,000 in same-day funding at Cardiff.co slash Walsh. Again, that's cardiff.co.co slash Walsh, real growth, fast funding. Cardiff, borrow better. You know, it's supposedly very difficult to find a talking head, a bona fide legal expert who's capable of breaking down the impact of a super, Court ruling in a thorough and accurate manner. Some of these commentators are paid hundreds of thousands of dollars a year for their expertise. In one case, a well-known Supreme Court analyst performed a
Starting point is 00:01:39 Sex Act on himself on a Zoom call, as we all probably remember, and he still kept his job at CNN. Maybe that was par for the course for CNN Zoom calls, and that's why they didn't fire him. We'll never know. Or maybe that's just how valuable these Supreme Court analysts are. You simply cannot replace them under any circumstance. And yet over the weekend, a random truck driver somehow managed to upstage all of these vaunted experts. The trucker, based on his first-hand industry experience, offered his assessment of the ramifications of the recent Supreme Court case, Montgomery v.
Starting point is 00:02:14 Carribe Transport LLC. And this case was about a man named Sean Montgomery, who sustained severe and permanent injuries after his tractor trailer was struck by another truck. driven by a man named Yosnil Varela Mohina. Now, to give some more background, Mahina was a trucker working for a company called Carribe Transport LLC, and the shipment he was hauling was arranged by a major broker in the industry named C.H. Robinson worldwide.
Starting point is 00:02:42 Brokers are typically hired by companies like Walmart or Costco to find a truck and company that can ship their goods. And in this case, Carribe Transport merely had a conditional safety rating from the Federal Motor Carrier Safety Administration, which means that they can technically operate for now, but they're considered a higher risk because they don't have adequate safety management controls in place. In particular, Carribe Transport was found to be deficient in terms of their driver's qualifications, crash rate, and other factors. Why are they allowed to still operate when they're known higher risk? I don't know. Nevertheless, C.H. Robinson, as the broker, hired Carribe for the job,
Starting point is 00:03:22 even though they should have been aware of the company's issues. And shortly afterwards, somewhere in Illinois, Mahina veered off the road and smashed it to Montgomery's tractor-trailer, which was stopped on the side of the road. Montgomery's leg had to be amputated. Now, the legal issue in the case was whether the broker, in this case, C.H. Robinson could be sued for negligence. In other words, if a broker finds an incompetent trucking company for a client and then the truck gets into an accident, can the broker be sued? Can the middleman be forced to compensate a victim in addition to the trucking company? By a unanimous 9 to zero vote, the Supreme Court held that indeed the broker can be liable. And here's how the trucker broke down the upshot of this specific ruling. Listen.
Starting point is 00:04:10 So I'm over here in Eden, Ohio, and there's a bunch of foreigners over here. You know, this guy right here, the guy right next to me, all along in all these trucks, okay? None of them can get loads out of Ohio today. And I was talking to the imam guy right here while I was in there at the Punjabi place getting something to eat. And he said that the reason that they can't get freight out of Ohio today is because the freight brokers won't work with them anymore. Okay. Apparently what has happened is that, you know, yesterday they had the rule, the Supreme Court ruling that found brokers could be held liable for. accidents with carriers with red flags. Apparently the trickle-down effect happened like that.
Starting point is 00:04:59 Okay, brokers are just saying no, there's a whole lot of other trucks. We don't need you. We're not going to use you no more. Okay. I was looking up at some of these DOT numbers to these guys, and they do have a pretty substantial track record of unsafe behavior, accidents, high out-of-service rates, things like that. So guys, here's what I got to say. This is a going to be changing in a hurry. Brokers are not just thinking once about it. They're thinking twice, three, and even four times about who they want to work with. If you're an established U.S. carrier, you know, between one and 15 trucks, you better hope to God you have a proven track record with these brokers because they're on the hook now. They're on the hook in ways that
Starting point is 00:05:45 they've never experienced before. So it really is this easy. All you have to do if you want to stop the constant stream of foreign truckers who are killing Americans is punish the people who are hiring the truckers. Don't take away their license. That's meaningless. They'll just hide behind another shell company where every single employee is named Kumar and everyone has the exact same birthday. But if you financially destroy everyone who hired incompetent foreign truck driver, then the roads will get a lot safer very quickly. And that's what we're seeing right now. Nobody wants to hire a trucking company that hires illegal aliens who can't speak English. or read the road signs. Now, of course, it should not have taken a Supreme Court ruling to get us to this point. Congress should have acted sooner.
Starting point is 00:06:32 All the same, it's a victory that we should celebrate. About a year ago, if you remember, we did several shows back to back about all the foreign truck drivers, many of them from India, who wiped out entire families in the United States and Canada. We showed the videos of the truckers who were on their cell phones while they were driving, only to crash into the back of stopped cars and kill everybody inside. In this case, a grandmother and her grandchild were killed. And most of the time, truckers who commit these crimes aren't punished to any significant degree. A Canadian trucker who blew a stop sign and killed 16 people, wiping out an entire junior hockey team,
Starting point is 00:07:08 was paroled in five years for killing 16 people. They aren't even deporting him from the country. And then, of course, there were the many cases in the United States, including this illegal U-turn on the Florida Turnpike that resulted in three fatalities. The driver was an illegal alien from India. And we stopped covering these crashes in detail after a while because there were simply too many stories to cover. And it's similar to how in the early days of the Russian Revolution, newspapers stopped reporting on bombings and assassination attempts. They were happening so often that the newspaper editors lost track of them. And here's just one recent example of how devastating
Starting point is 00:07:46 these crashes are and how quickly they can happen. This report aired just a couple of days ago. on CBS watch this is what ohio state troopers confronted responding to a crash outside of cincinnati the day before christmas 22 can you hear me a tractor trailer heading north on i 75 crossed the median and slammed into two vehicles they were texting me throughout their drive saying how close they were where they were and then i heard nothing amy ross had planned to host christmas for her family that year. In those two cars, her mother Kimberly, a sister Lauren, another sister Karen, and brother-in-law, Jeremy Bainey. And that's when we got in touch with the police and the police said they're all gone and there was nowhere to go. There was no hospitals to go visit them at.
Starting point is 00:08:47 They were just gone. It's like this can't be real. The driver of the truck, a Cuban national with a green had left Miami two days earlier in a truck that police said had a stolen federal registration number. Empty, where did you deliver at? Yeah, I'm delivering warmer. A toxicology report showed elevated levels of cocaine and methamphetamines in his system. After the crash, the driver fled back to Cuba. How does a guy like this end up hauling goods for Walmart? I don't think that this driver or many others like him end up on the road, but for the broker, turning a blind eye.
Starting point is 00:09:32 So he's a Cuban national high on meth and coke, driving a truck with a stolen registration number, and after wiping out a family, he's allowed to flee the country. The authorities in Ohio didn't even place him in custody. So you're making sure that your license gets renewed on time, and you know, you're making sure that your title and registration are up to date. You're following all the rules. And in the meantime, foreigners are driving 40-ton 18-wheelers without any documentation for themselves or for the truck. And even when they kill several people, they don't suffer any consequences whatsoever. This is why new certification standards and stricter licensing and all that don't
Starting point is 00:10:16 really accomplish anything. States like California don't enforce any of the regulations. and DAs, even in red states like Ohio, aren't actually putting any of these people in prison. Without any incentive to follow the law, the foreigners aren't going to follow the law. And that's why this Supreme Court ruling is so significant. For the first time, the brokers feel like they might be liable if they hire an illiterate foreigner with a terrible safety record. Now, it's true that partially as a result of this ruling, the cost of freight is going up dramatically. This is a chart from Craig Fuller at Freight Alley. And it shows that flatbed trucking rates in this country have just hit a new all-time high.
Starting point is 00:10:54 This is a metric that reflects industrial sectors like heavy machinery and construction. Meanwhile, here's the truckload spot rate, which is associated with freight and retail. It's measuring the amount of money that shippers are paying to move freight on the spot market. It's showing the real-time spending rather than pre-existing contracts. As you can see, we're basically at an all-time record, another six cents a mile, and we're there. We're at the all-time record. Now, it's true that, according to data from the Fed, year-over-year industrial production is up by about 1.4%. So we're producing slightly more than we were last year.
Starting point is 00:11:30 But obviously, that's not going to explain such a massive jump in freight costs. What does explain the jump, at least to a meaningful degree, is the fact that high-quality truckers are now in demand. And as a result of the Supreme Court ruling and the increased regulatory scrutiny that's been facing trucking companies for the past year or so, it's a very good time to be an English-speaking, competent American trucker in the United States who knows how to drive a truck. On the other hand, if you're a shady broker or trucking company, it's never been more difficult to obtain insurance or to find a foreign trucker who is not going to kill an entire family and bankruptcy company in the process. And we do have to acknowledge that as a result of the Supreme Court's ruling and the increase in truckload rates,
Starting point is 00:12:13 there will inevitably be a slight increase in the cost of some goods. You know, higher transportation costs are always passed along the consumer, as we all know. And there are concerns that these large jury verdicts might have a damaging effect on the trucking industry as a whole watch. We need to make sure that our partners are solvent. And if one of these cases like these nuclear verdicts or a thermonuclear verdict happens, there is no way a broker or most brokers can survive this. I think you're right, Craig. I think you see consolidation and growth among the big motorcars and among the big
Starting point is 00:12:47 big brokerages. It's going to crush entrepreneurism because if you are a motor carrier and you have a conditional safety rating, who in the world would book freight with you? How in the world after this decision would any broker want to do that? What does it take? It incentivizes you to go make another motor carrier. Matt, what does it take to get a conditional safety rating? Like, how do you get, how do you earn a conditional safety rating?
Starting point is 00:13:09 A lot of it has to do with the inspections that you have. If you've gotten some inspections, you come clean or you have some things that have made you get an intervention status. The FMCSA tries to audit every motor carry within the first 12 months. And when they try to get in there and try to understand what your business is like, if they find things that aren't great, they're going to say, here's what you have to improve. Here's the plan. There's a lot of industry consultants that help you navigate this. But a conditional safety means you are legally authorized to hire to haul freight. You can do this.
Starting point is 00:13:36 But just because the government says you're safe to do it or you're authorized to do it doesn't mean a party like a broker wants to work with you. And the CH case, this Montgomery case, one of the stories about this was that the motor care that was selected had a conditional safety rating. And so it said, I've done what I'm supposed to do. I'm generally considered at what I need to be at, but it doesn't matter because you've made a selection issue. And again, the only time you know these motor cares are truly unsafe is when something catastrophic happens. When 30% of vehicles being inspected or failing, what in the world would you do? If 30% of all motor cares are unsafe, just because they're not meeting out of service criteria, this is a different world. And again,
Starting point is 00:14:16 it's the same business. It's just different rules that brokers are learning that the big asset folks have been dealing with since the very beginning. We've always had unlimited liability. And now that's going to get passed on to some of these larger 3PLs. So he's attempting to make an intellectual argument that nobody has patience for anymore. At a certain point, when you've seen enough videos of American families getting crushed inside their cars like tin cans, suddenly you stop caring about the impact of lawsuits on entrepreneurialism in the trucking industry. That's not to say that the trucking industry shouldn't reward entrepreneurs. That's not to say that we need more lawsuits in our society as a general rule.
Starting point is 00:14:54 But we're at the point where there's no other option. If we had immigration controls in this country, if Joe Biden and Barack Obama had never been president, then maybe we wouldn't need these lawsuits. If prosecutors bothered to enforce the law instead of releasing these Cuban nationals and letting them flee the country, then maybe we wouldn't need the lawsuits. But in the world we actually live in, something had to change. Let's take a look at this graphic from CBS News. Large truck collisions killed 5,300 people in 2024 in the United States.
Starting point is 00:15:26 That is a 57% increase from 2009. Every year, thousands of people are getting killed by 18 wheelers, and the problem is only getting worse and more infuriating. And the other aspect of the story, which needs to be mentioned at every opportunity, is that these foreign truckers, even when they aren't killing Americans, are taking jobs that Americans need. You know, truck driving is the number one job for people who don't go to college. It's the biggest profession in many states, often providing a respectable middle class life, especially more rural areas. And for many years now, truckers and many of the people who own trucking companies have suffered as a result. The problem was compounded by the post. post-COVID crash when people stopped buying as many goods and started putting their money into services and experiences. All of a sudden, fuel prices were up, demand was down, foreign truckers were flooding the system, and people who had invested their whole lives into trucking
Starting point is 00:16:24 found themselves broke or close to it. This is just one example of what I'm talking about. This is from a small fleet operator in South Dakota, quote, The struggle has been very real these last two years and none stronger than 2025. It reminded me of my youth on the family farm in the 80s. Dad got the new tractor he bought two years prior, repossessed when the market shifted. This was before the government gave you a kickback if you lost money in farming, mind you. The lesson learned for me was never give up. I searched my soul in the worst moments of last year.
Starting point is 00:16:53 My wife and I arguing about money, not paying ourselves, working for nothing several months in a row. All of our savings completely gone by the fall of 25. I haven't been this cash trap since I was a young man out of high school. We thought real hard about giving up. This new environment we find ourselves in means serious change for the transportation industry that has always operated on trust. We're becoming a very low trust society, therefore we must adapt procedures and tactics, become more open and honest with sharing who we are and how we accomplish the mission.
Starting point is 00:17:21 This is a note of optimism in an industry that for a very long time has been in a very bad state. Things will still be in flux. Self-driving trucks are another big change. that's coming soon. But the general trajectory is now positive. And since trucking is one of the most important industries in the entire country, that's a big deal. One of the more expensive habits people have is buying the cheap version of something first,
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Starting point is 00:20:26 Go to Macwelland.com and get 20% off your first order of 100%. $125 and more with promo code walsh. That's M-A-C-W-E-L-D-O-N.com code walsh. At the same time, trucking, as important as it is, is just one of many, many areas in which illegal aliens are making our lives worse and doing it in ways that we don't, many of us anyway, we don't think about, may not even be aware of. Housing is another industry that's been tremendously affected by the foreign migration. Again, in ways into an extent that most people don't even realize. And also, again, not to be too optimistic on this show, I wouldn't want to make that mistake. But the trajectory very recently is starting to be positive.
Starting point is 00:21:10 So admittedly, this change has been easy to miss. Think of it this way. You know, whenever a secretive authoritarian regime is removed from power, a lot of fascinating and often morbid discoveries are usually made in short order. Recall the hidden torture chambers that were uncovered in by U.S. Marines and Saddam's palaces after the invasion of Iraq or the closely guarded Chernobyl protocols that were uncovered after the fall of the USSR. We're talking about invaluable material for historians, scientists, anthropologists, everybody, you know, the kind of stuff that changes your perspective on world events. Put simply, the remnants of a hostile anti-American government are always worth exploring because you never know what you're going to find in there.
Starting point is 00:21:59 And this is a phenomenon that after four years of rule by the Biden administration applies to the United States just as well. Deposing the Biden regime has led to a raft of important revelations that if Kamala Harris had won, would have been kept secret and made worse. But now the Democrats have mostly been ousted from the federal government. Truly astonishing discoveries are taking place all over the country, particularly in the suburbs. after years of misdirection and outright lying, we're finally discovering the extent of the Biden administration's treachery, and there's really no other way to describe it. And many of these discoveries, remarkably enough,
Starting point is 00:22:41 are being made by inspectors and mortgage officers who are deployed by banks to check on homes that are in foreclosure. Here's the trend that these inspectors, the modern-day Marines storming the Iraqi palace, are noticing in America suburbs. Watch. Is this going to be coming trend? This is another home where I've been told the undocumented.
Starting point is 00:23:10 Just left first time here. And a lot of this stuff is still here. Looks like they left in a hurry. Not sure what happened. But again, even some of the... pantry stuff is still here. Left food behind and all. It doesn't make any sense.
Starting point is 00:23:47 Very hard to tell exactly what was going on. But home completely unlocked. Looks like everything left behind. It was just informed that this house was illegal owned and they self-deported. And
Starting point is 00:24:06 they're supposed to be full of It's not full, but there's a TV moving boxes. Who took all the supposed furniture that's supposed to be here? I don't know. And I told them that because I've been here. And it's not full of furniture, like they said. I mean, there's that. So these videos are from Ants Inc. who runs an inspection company.
Starting point is 00:24:35 He's posted dozens of videos like this one. After you watch enough of them, it's hard to dispute his observation. dispute his observation that indeed illegal aliens in Texas are suddenly abandoning their homes in very large numbers. And sometimes they take the furniture with them, sometimes they don't. In fact, in that last home, you saw they left their fish tank behind and all the fish died a horrible death as a result. And the assumption is that these people either fled in a hurry or they were deported. Now, what's interesting is that when this inspector is dispatched to these homes, the bank informs him that they're believed to be owned by illegal aliens.
Starting point is 00:25:15 And that raises the obvious question. How exactly does the bank know that illegal aliens were living there? And in a separate video, Ansank explains what's going on. Watch. This week, I started doing foreclosures on undocumented properties, properties that the people had to leave in a hurry. I just left one. Pizza boxes open. Pizza was still there.
Starting point is 00:25:44 All the food was still in the pantry. They grabbed whatever valuables they could, left everything else behind. These are foreclosures, so these are homes that were bought using FHA, guaranteed by the government for undocumented people. Last month, over 252,000 people. were deported in Texas alone. So all of a sudden, we're starting to see the effects now. I did another one yesterday. They come tagged as possible undocumented immigrant.
Starting point is 00:26:25 Furnitures there, fish tank, dead fish. They left in a hurry. So he says the illegal aliens were using FHA guaranteed by the government to buy these homes. And that's the key. It's how the bank knows that the homeowners are probably illegal aliens. And you see, it turns out that under the Biden administration, the federal housing administration began insuring mortgages by private lenders to non-citizens. Now, these are mortgages with extremely small down payments, around 3.5%, along with 30-year terms. And it's fine if the borrowers have a 500 credit score and can't meet any minimum income threshold at all. These loans are intended for low-income Americans, but instead, foreigners, people who are not even citizens, are getting them.
Starting point is 00:27:15 Yes, non-citizens, even if they didn't have a steady income or collateral or good credit, have been walking into new homes by putting only 3.5% down. So while you were doing the responsible thing and, you know, saving up $80,000 to put down on your $400,000 home, an illegal alien only had to spend around $14,000 for the same home. That's what you've been competing against. Now, the risk of default is obviously extremely high on these 3.5% mortgages, so the bank would never grant them in normal circumstances, but when the government will take care of any defaults,
Starting point is 00:27:56 the banks have no reason not to approve the mortgage. And that's exactly what's been happening. officially the Biden administration expanded the FHA program to H-1B visa holders and so-called asylum seekers and DACA recipients, meaning illegal aliens who arrived in the United States when they were young. So in effect, every illegal alien could easily access the program. They all just call themselves asylum seekers, and that's it. They know the words to use in order to concoct a fake asylum claim, and then once they do that, they're able to qualify for a loan. Now, the one requirement that you need a social security number to get one of these loans is not a hurdle at all. As Elon Musk has pointed out, two million illegal aliens obtained a social security number from the government in just one fiscal year, 2024.
Starting point is 00:28:42 They weren't vetted at all. The Biden administration simply awarded social security numbers to anyone who had a work permit or claimed to have a work permit. And additionally, as the Center for Immigration Studies has reported, 75% of illegal aliens use fraudulently obtained social security numbers to get jobs. And these SSNs were either stolen or handed out by the Biden administration. And the effect of this policy was that Americans were being forced to subsidize homes for illegal aliens. And of course, all the new competition from these illegal aliens also led to an increase in the average price of new homes, as it was destined to do. This chart here illustrates just how quickly the FHA program exploded once the Biden administration, open the floodgates to illegal aliens and foreign workers.
Starting point is 00:29:32 It tracks the percent of FHA mortgage locks by non-permanent residents. A mortgage lock is an agreement where an interest rate is guaranteed by the lender as part of the closing process. Basically, it means that someone is using the FHA program to buy a home. Now, unsurprisingly, once non-citizens were allowed to apply, the FHA program exploded. In 2018, the share of non-permanent residents who participated in the program was 0.5%. By 2025, it was 6%. That's a 12-fold increase. Now, it's not to say the Biden administration is solely to blame here. Obama was the first to greatly reduce the standards for qualifying for these loans, but the trend
Starting point is 00:30:11 clearly accelerated in the last 48 months. Instead of benefiting low-income Americans, which was supposed to be the point, the FHA program has increasingly benefited foreigners, and in many cases, these people can't afford homes. Quote, at 2007, 35% of new FHA borrowers had debt-to-income ratios above 43%. By 2020, 54% did. The FHA loan portfolio is far riskier than it was before the 2008 housing crisis. 79% of FHA first-time borrowers have a month or less in financial reserves. Not enough to make mortgage payments if their household expenses rise.
Starting point is 00:30:49 No surprise, many are missing payments, especially recent borrowers. about 7.05% of FHA mortgages issued last year when seriously delinquent, 90 or more days when a payment is due within 12 months. That's more than at the 2008 peak of the subprime bubble. Under the guise of COVID relief, the Biden administration masked the growing troubles in the housing market by paying off borrowers and mortgage services to prevent foreclosures of the 52,531 FHA loans last year that went seriously delinquent. Within their first year, only nine resulted in.
Starting point is 00:31:22 in foreclosure. So in other words, even when these foreign borrowers miss several large payments, for example, five, $4,000 monthly mortgage payments, which is the example the journal uses, they still don't lose their home. Instead, the government wires cash to the loan servicer to cover the shortfall. And in turn, the loan servicer adds the missed payments and any applicable fees, of course, to the balance of the loan. And the cycle repeats endlessly. The mortgage balance continues to grow. The illegal alien continues to miss payments, which are growing by the month, but the lender is not worried because the government will just keep paying out. Quote, one result is that many FHA borrowers owe more than their original mortgage and more than
Starting point is 00:32:13 their homes are worth. They are essentially trapped in their homes, even if they want to sell and move. Another result is that home prices keep increasing because borrowers who don't pay their mortgage and never should have qualified for loans, can't get foreclosed on or be forced to sell their homes. Getting foreclosed on these days is like flunking out of college. It takes effort. You have to reject repeated offers for mortgage relief. So the problem is hitting homeowners from multiple directions. First of all, the illegal aliens are in the market competing for homes that they can't afford. Naturally, that raises the cost of buying a home. And secondly, once the aliens are living in these homes, they're almost impossible to evict. And yet, even with all these protections,
Starting point is 00:32:58 which you're paying for, an extremely large number of these illegal aliens are delinquent after qualifying for an FHA loan. According to the latest data, a grand total of 14% of the 8 million FHA home loans are currently delinquent. I'll say that again, 14% of the 8 million loans are delinquent. That means more than one million FHA borrowers are currently behind on their payments. They're passed due by 30 days or more. By contrast, the delinquency rate on conventional mortgages, ones where the government is not ensuring the loan to encourage more foreigners to come to the United States, is well under 3%. Now, these are not academic points. The existence of this program and the way the Biden administration expanded it has made it more expensive for a lot of.
Starting point is 00:33:51 Americans to own homes considerably. FHA is one of the main reasons why in more than 70% of 235 major metro areas in the United States, home prices went up in the first quarter of this year. The National Association of Realtors reports that the national median single-family existing home price rose to $404,000 in the first quarter, with home prices in the Northeast rising by 5%. But the Midwest, home to a growing Somali community, community wasn't far behind. Quote, the Midwest, known for its greater affordability, followed with nearly 4% in annual home price increases in the first quarter. Metro areas like Akron, Ohio, led the nation for the highest jump in annual home prices in the first quarter, climbing 12%.
Starting point is 00:34:38 So it's all part of a larger trend that's impossible to avoid. As the U.S. Department of Housing and Urban Development has found, quote, the foreign-born population now stands at more than 53 million individuals making up the highest share of the American population in history, this immigration-driven increase in households contributed to a significant increase in housing demand, thus driving up housing prices. In fact, in some markets, immigration has accounted for nearly all of the increase in housing demand in recent years. Now, needs to be mentioned that in addition to subsidize housing, these people are getting everything else subsidized too. Their food, their education, everything.
Starting point is 00:35:21 According to the Center for Immigration Studies, roughly 60% of illegal alien households currently benefit from at least one government welfare program, and nearly 10 million people living in public and subsidized housing haven't shared enough information with the government to determine if they actually meet the criteria to be housed there. So we can assume that most of their housing costs are fraudulent also. But again, there's a positive trajectory here. The Trump administration has ended this expansion of FHA loans, which means that no more non-residents will be getting these loans. Watch.
Starting point is 00:35:56 We eliminated non-permanent residents eligibility for FHA insured mortgages, and we are audited in public housing authorities to ensure taxpayer dollars don't support illegal aliens. American dollars should benefit American citizens and American citizens only. By focusing on our core mission, HUD provided a pathway for homeownership and supported housing affordability for more than one million Americans through FHA and Jenny Mae. We also take stewardship very seriously, so we're cracking down on waste and fraud and abuse. Our office of the Chief Financial Officer uncovered more than $5 billion in potential payment errors over $50 billion in total rental assistance for the fiscal year of 2024,
Starting point is 00:36:37 and that includes money that went to nearly 30,000 dead people. That is ludicrous. It's ridiculous to even think or talk in such a way. It's a violation of our sacred trust to American taxpayers, and it has to end and it will. Now, it's crazy we even have to applaud this. I mean, it's the bare minimum of what a competent pro-American government would do. Of course, we shouldn't subsidize foreigners who want to steal our homes. What kind of political party would say otherwise? How can we coexist with them?
Starting point is 00:37:11 And how can we take anyone seriously when they claim that immigrants in the modern day are just like our ancestors who migrated here centuries ago? it's not just that they aren't the same. They aren't similar in any way whatsoever. Modern immigrants are in an entirely different category. It's a different category of thing completely. Our ancestors came here and built a civilization from scratch. Modern immigrants come here, often from the third world,
Starting point is 00:37:40 from non-Western countries, which is another major difference. And they have a red carpet laid out for them. as we see in the case of housing, they are given advantages that the native citizens of the country are not given. They are coddled and cared for. They're not here to build. They're here to enjoy the fruits of labor that was not performed by them, labor that American citizens performed. And we've known this as the case for many years. We're just now discovering how bad, how grotesquely absurd the situation really is.
Starting point is 00:38:13 One of the most underrated quality of life upgrades in adulthood is good betting. Most people don't think about it very much. Sheets are sheets are sheets, blankets are blankets, and as long as the bed is technically functional, they move on with their lives. But at some point, usually while traveling, you realize there's actually a massive difference between bedding that feels breathable and comfortable and bedding that feels heavy, stiff, or weirdly hot all night long. My wife and I have noticed this especially after switching to Bowling Branch. We'll stay somewhere that's supposed to be very nice, and after one night it becomes obvious how much difference good bedding actually makes, especially in the summer since a lot of bedding traps, heats. Ball and Branch designs their bedding specifically to stay cool and breathable. Their sheets are made from 100% organic cotton woven for airflow, not just softness.
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Starting point is 00:39:50 all of that matters but sometimes the deciding factor is much simpler you talk to somebody for five minutes and it's immediately obvious they actually want to be there they've done the research they understand the company they're curious they ask thoughtful questions those are candidates that tend to stand out the daily wire has had really positive experience is a finding strong candidates through ZipRecruiter over the years. The platform does a better job helping employers identify people who are not only qualified, but actually interested in the role itself. If you're hiring, you want a candidate who's passionate about your role,
Starting point is 00:40:23 but you can't get that insight from a resume unless you post your job on ZipRecruiter. And now you can try for free at ZipRecruiter.com slash Walsh. ZipRecurter's matching technology helps businesses connect with qualified candidates very quickly. One of their newer features is especially useful. ZipRecruiter now shows employers the most interested qualified candidates first, helping companies spend less time sorting through applications and more time talking to the right people. There's a reason ZipRecruiter is consistently rated as one of the top hiring platforms. Find candidates who really want your job on ZipRecruiter.
Starting point is 00:40:55 Four to five employers who post on ZipRecruiter to get a quality candidate within the first day. Try for free at ZipRecruiter.com slash Walsh. That's ziprecruiter.com slash Walsh. Meet your match on ZipRecruiter. So what really needs to happen now, beyond this policy change, is a sustained campaign of mass deportation without apology. Go back to California, Minneapolis, arrest anyone who obstructs or interferes with ICE agents. Put as many of these foreign criminals on deportation flights as possible. Illegal immigration affects your life in ways you probably don't even realize.
Starting point is 00:41:29 And now that those effects are finally being exposed and curtailed, we have to be. to make sure that a future Democrat administration can't simply undo this administration's accomplishments. So bankrupt the criminal trucking companies, throw the foreigners getting the 3.5% mortgage rates out of the country, and ensure that American homes and American highways are used exclusively by the people they are intended for. Americans. That'll do for the show day. Thanks for watching. Thanks for listening. Talk to you tomorrow. Have a great day. Godspeed. Martin Luther King Jr. is an American icon, widely considered one of the greatest Americans who ever lived. A man who had a vision for a colorblind society, a post-racial America.
Starting point is 00:42:27 He had a dream. It's just not the dream you thought it was. Or his true aims, a colorblind society, or something far more radical, who bankrolled him? What unfolded behind the scenes in Birmingham, Alabama, in 1963. Was civil disobedience actually peaceful? We wanted to show you a clip of the I Have a Dream speech, but according to our lawyers, we can't. In fact, King's family has made a lot of money suing media outlets. They want to silence critics like us. What they're doing makes it very difficult to judge Martin Luther King, Jr.,
Starting point is 00:43:00 not by the color of his skin, but by the content of his character. Is America today stronger, more unified, and racially equal than before King's rise? before Kings rise. These questions demand answers, and as Americans, we are entitled to a full accounting of the Civil Rights Movement and its consequences. King's Movement fundamentally transformed our country and our system of government.
Starting point is 00:43:21 I speak as a citizen of the world. Each day the war goes on, the hatred increases, though the cause of evil prosper. First part of our two-part special on the Civil Rights Movement, a new Constitution. Available now on Daily Wire Plus.

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