I actually did watch the video.
I understood it perfectly.
That person works in Santa Barbara [I've been there many times]. He's paying off a debt from a failed small business, and he's described as jovial, and I saw that he indeed was (which says a lot about his character and state of mind).
In Santa Barbara the median (not average) home price at the end of 2017 was $1.1Million. That's a lot of vans! Limit your choice to a 2-bedroom home and the number is $841K. And a 1-bedroom house would sell for $495k.
A 2017 survey found that 57 percent of qualifying Americans have less than $1,000 in their savings accounts, and 39 percent have no savings at all. Only 6% of respondents had savings between $5K and $10K.
If any of those people covered above (owning property in Santa Barbara) loose their jobs, they're going to start worrying a whole lot. They certainly are not going to be jovial. They may have inherited their property but they will still have a huge property tax hanging over their heads.
The pair living in the van? No worries. They have no property taxes, and probably don't pay any income taxes. In fact, they could potentially have more savings than the other people mentioned above who own homes.
