The Wall Street villain fell apart in every interview: guests put Wall Street banks at around 3% of ownership, and the 50 largest owners combined hold under 11%. Jerremy Alexander Newsome and Dave Conley say big money stays out of New York and LA because the margins are too thin there. Both lenders they talked to said credit is available, and that easier qualifying would just add bidders and raise prices. Dave calls the homeowner tax break welfare for the top fifth, and says cutting property taxes shifts the bill onto young families. Jerremy asks whether we should pay property taxes at all, and points out that a married couple can sell their home with up to $500,000 of profit tax-free.

Timestamps:

• (00:00) The outside villain – Everyone wanted Wall Street to be the bad guy
• (01:01) About 3% and under 11% – What the guests said Wall Street owns
• (01:32) Margins too thin – Why big money skips New York and LA
• (02:50) Not lenders, not Wall Street – Jerremy lands on supply instead
• (03:27) Neighbors say no – Zoning vetoes keep showing up as blockers
• (07:32) Easier loans, higher prices – What both lenders told the hosts
• (11:39) Welfare for owners – Dave on the homeowner tax break
• (12:41) Should property taxes exist? – You pay off the house, and keep paying
• (13:50) A tax revolt – Dave on who pays when property taxes go
• (19:43) $500,000 tax-free – The home-sale rule most people never hear about

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