(doorbell rings)
Nando and Chrissa are newlyweds looking
for their first home.
Unfortunately, they are looking in Los Angeles,
which is going through an affordable housing crisis
of massive proportions.
Realtor slash Instagram influencer Gavin Seal
will have to stretch their strict budget
to find them their dream home.
Nando and Chrissa each make $46,380 per year,
the average income for 29 to 33 year olds in Los Angeles,
where the city's average home price is $630,000.
We already feel like we're living the American dream
but I'm just a little nervous about the cost.
I mean, this sounds crazy but I'd love a second bedroom.
I know why she wants a second bedroom.
She wants to have a baby.
Not gonna lie it's rough out there.
Now, all your real estate experts are gonna tell you
you shouldn't spend more than 30% of your income
on your housing budget.
The only problem with that is it's kind of impossible.
Bottom line you're gonna get screwed.
Yeah.
What I recommend is that you go big and go home,
like I did.
Gavin is proposing that Nando and Chrissa
join the one out of every three households in America
that are considered unaffordable,
meaning they spend over 30% of their income on housing.
Wait, is that true?
[Narrator] You can hear me?
I might as well tell you that half of those households
spend over 50% of their income on housing.
That's 19 million American households.
A lot of these properties look like
they're a little bit out of our price range.
That's 'cause they are but don't worry
spending money that you don't have yet is like a good luck charm
to ensure that you make it in the future.
I'm just gonna 'gram this real quick.
Are you guys on Insta?
Of course, you are, you're my youngest clients.
Wait, is that true?
Yeah, dog.
Home ownership has gone down 21% among people
under the age of 35 since the year 2000.
Most of my clients are hedge fund suits.
They're super stingy with the likes.
What's your handle?
Oh wait.
This one seems nice.
No, no, no.
You don't want that one. Too many homeless in that area.
Gross!
We can avoid those, right?
No worries.
There's literally tons of houses on the market.
Wait a minute.
Narrator, how many homeless people are there in America?
[Narrator] About half a million.
Don't you guys find it weird that we live
in such a rich country
but there's all these homeless people.
I mean, how many empty houses are there in America?
[Narrator] About 18 million.
So, there's half a million homeless people
and 18 million empty homes.
No one else can see the– No? You're not seeing
the problem here?
18 million empty homes?
How are we gonna decide?
Let's get to hunting houses.
So, this one next one is a cool modern
industrial loft with bay windows.
And exposed brick.
I know you love exposed brick.
I do.
It's my favorite thing to expose.
Oh! Hey guys.
We're not quite ready yet.
Yeah, I just need five minutes to displace
the black family you guys are gentrifying.
Wait, what did you say?
Yeah, we used to have this kick-ass thing back in day
called redlining.
It kept all the housing prices
in historically black neighborhoods lower,
so now those neighborhoods are primed to be gentrified
by white folks like you.
Oh my God, it's Pete White
from the L.A. Community Action Network who now is also
apparently working for a moving company.
Everybody needs a side hustle.
Back in the 1930s, the government
began promoting home ownership by backing 30-year mortgages.
Millions of people were now able to buy homes.
This created a huge amount of wealth for them,
except the government also did
this little thing called redlining
where essentially they excluded black neighborhoods
from getting any of those loans.
So they just straight up excluded black people.
Man, that's the grim reality.
That was like so long ago.
Yeah, but we're still feeling the effects at this moment.
Right.
Here in Los Angeles one in 22 black men are homeless.
One in 47 black women are homeless.
That's compared to 1 in 272 all other races and gender.
We're feeling the effects of yesterday, today and tomorrow.
You see this is making me a little uncomfortable.
Well, come on you're gonna blame us
for institutional racism?
I mean, I just feel a little weird having
this conversation in front of the person we're displacing.
[Narrator] Will Nando and Chrissa find their dream home?
Will Pete White ever stop moving boxes?
Will Gavin sleep with Chrissa?
Wait, what?
[Narrator] Stay tuned for more Desperate House Hunters.
(doorbell rings)
[Narrator] For their last potential home,
Gavin shows them a spacious house in the suburbs.
Guys, this is an objectively beautiful home
and the great part is there's a walk-in closet
big enough to be a second bedroom.
Oh, I love that idea.
You know, this place is nice
but it's literally two and a half hours away from my work.
Where do we sign, Gavin?
Can't we afford a place that's a little bit
of a shorter commute?
Not really, pal.
I mean, all the hot neighborhoods with lots of jobs
tend to limit new constructions.
If I were you I'd line up those podcasts, brother.
You're gonna be doing some driving, kemosabe.
Of course you all know,
in Singapore the government owns 80% of the housing.
That allows everybody to live in places
that are actually affordable.
Wait, are you suggesting that the government intervene
in the housing market to make it
more affordable for everyone?
Man, they already do.
They do a little bit but it's still not enough.
That's crazy talk.
No, it's not.
You remember the show "Friends"?
Of course, I love that show.
I love "Friends" too.
Well, how do you think a bunch of frequently-unemployed
20-year-old somethings were able to live
in that huge apartment in the West Village?
Actually, TV apartments are always unrealistically big.
It's so they can fit the cameras in there.
No, it's not.
It's rent control, it's rent control.
Whatever.
You two nerds talk about "Friends".
Gavin and I are gonna take a look at that walk-in closet.
In times of trouble,
the Dalai Lama once told me a proverb.
"I'll be there for you if you're there for me too."
It's just the song from "Friends".
Of course, it is.
[Narrator] Nando and Chrissa
head back to the restaurant to discuss.
Will they pick the newly available foreclosure,
the gentrifying hipster loft
or the home in the distant suburbs?
I love the second bedroom in the suburbs.
You could have a lot of fun in there.
Which one are you leaning towards?
You know what, I'm starting to think
we need to put people over profits.
Housing is too important.
We can't leave it up to the market to decide.
Besides it's not like the government doesn't intervene
in the housing market already.
They just intervene to benefit the people
that are already well off.
It's about taking back control of our lives.
We shouldn't leave it up to speculators
and sleazy agents that I'm starting to suspect
are sleeping with my wife.
We need more funding for public housing,
more rights for tenants, more subsidies for renters.
We should demand that our politicians work to provide
everyone in America with a place to live
because housing is a fundamental right.
I see what we need to do now.
Right?
I want a divorce.
[Narrator] Up next, on Desperate House Hunters–
No, no, there's no next.
We're clearly not getting a house together.
The episode's over.
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