Jason Friedberg

And as folks know now, I live in Austin, Texas.

And if you perfect segue there, David, there's really two different countries here.

You have people living in coastal cities where you're not allowed to build units and rent is incredibly expensive.

And you make the same amount of money.

If you look at when I grew up in Brooklyn and I went to school at night, I took five years to get my degree from Fordham University.

I had 12K in student loan debt.

I was making $40,000 to $60,000 a year while I was in college doing IT.

It's a big salary for back then, but my apartment in Brooklyn was $500 a month.

I lived in an apartment, an addict apartment.

If you were to take two people like that in America today, they're making $60,000 to $70,000.

That's the average salary for college-educated people who are 27 years old.

If you live in Austin, it is absolutely no problem for you to own a home.

Let me explain to you how easy it is, Freebird.

We have so many units.

in Austin, Texas, and in Houston, it's even more pronounced, but Nick, pull up the chart there, just on rent, because you start as renters, obviously.

Austin rent has gone down 20% in the last three years because we build units.

When you build units, when you have supply, prices go down.

And the stupid people in San Francisco with their woke bulls**t

are like, oh, you're building luxury units.

Let me tell you what happens, dumbasses, when you build luxury units.