we see wanted a slowdown could mean in business news. and don't forget you can get all the latest news and information around the clock on a website that's need dot com to save a day the only news again hundred physics is standing by you have more coming up shortly looking at the turkish economy and how it still don could impact the country back. to. being a fun day to. his work and the goddess fortuna. the munchies and feed. the children finished gone twenty team.

earth home to millions of species the home worth saving. googling dio's told stories of creative people and innovative projects around the world ideas that protect the climate boost green energy solutions and reforestation . using interactive content to inspire people to take action google audience the environment series of global three thousand on t.w. and online. at the. house prices keep going up on our how much is too much government and stakeholders and to answer that question for germany today we talked to an industry insider about how to solve the housing crisis it's. more bad news for turkey off the freefall of the lira in fly. action is now about twenty percent

and growth forecasts are constant is this the last straw for many small businesses . this deed of your business i'm doubtful is welcome financial advisors will often tell you it's smart to keep your housing costs to roughly a third of your monthly income but in many cities that's slowly becoming impossible in berlin for example german chancellor angela merkel is even hosting a so-called housing summit to get to the root of the problem but the lack of affordable housing doesn't just affect the german capital it's a global issue now shoe box homes like these are becoming common in hong kong as real estate and rent prices soar authorities are scrambling to find out cers for what's becoming a major source of economic and social unrest in one of asia's richest cities one of the proposals is to reclaim more land to build on along the harbor but some residents are taking matters into their own hands by occupying industrial spaces

for instance dangerous and also illegal in a world where a fifth of the population lacks adequate housing hong kong is representative as its struggle for a solution. but although prices jumped nearly fifteen percent last year it's still only the fifth hottest property market in the world potter still is vancouver where prices rose sixteen percent both cities are outstripped by reykjavik at izmir but the upward swing is most evident in berlin where prices have skyrocketed twenty point five percent. the reason for runaway real estate pricing are manifold a big one is simply supply and demand as population growth outpaces construction but residents the world over put at least part of the blame on foreign investment driving up prices in an era of cheap money in berlin the local government has said it was mulling restricting the foreign ownership of homes that idea wouldn't be

original in a bid to counter house price growth and homelessness new zealand passed the law just last month banning foreigners from purchasing existing houses a step further from foreign ownership taxes imposed in other cities like toronto. many question just how much these measures will help bring prices down for now housing prices are still in danger of overheating. so how to solve the crisis in residential housing i'm now joined by thomas byerly he's a real estate analyst with cut a large european property investor headquartered in sweden thomas property investors like your company especially loved ones painted as the ultimate bad guys not only here in germany do we need more regulation to keep you people in check and make sure you don't owe money. well i think we don't i don't personally think that we have a bad guys on that but what we don't need of course more regulations what we need of course a reliable framework where we all kicked connect in the tenants the landlords but

also the industry in total so what is then other than this framework that was which is rather lofty what is the answer to the housing crisis browning for a number. for example. well to be honest i think from a former international perspective germany is still undervalued market which means coming from extremely low level compared to the rest of europe on one hand with a huge demand to two urbanization effects in metropolitan areas we need finally just one thing sounds a little strange but it's building building building buildings build build build is the motivation and within that framework it's of course how can we. find things coming together what is called affordable housing and this fence but the met the massive demand on that is coming from the people who muting in the in the city centers and this is again we have to solve together the property investment is a strange beast isn't it it's an investment and it's also

a public good can these two ever be reconciled. i think we have to really look for both sides on one hand it's absolutely a social thing when it comes especially what is the definition of affordable housing what means this soul supporting people who are not affordable to get homeownership or whatever on the other hand investment in residential means also to achieve outcoming on that and again to bring peace things together it's it's that what hopefully today will be reached in the housing someone in berlin just one example at the end if you build more properties then the people get more attendant on the new property and especially they will have to pay higher rents but also there should be find a definition on how many percent let's say ten or twenty like in munich should be then frozen in for the next ten years time on a reduced rent one example on that which we hopefully will be discussed today in berlin very very briefly if you can is residential properties still

a good investment in your view. personally i think totally definitely but i'm an analyst to be honest so what has always happened to us should get more focused of course on them. area across wherever you are globally and especially in germany there was a huge disparity meanwhile between what we called for free but also the city center so which yes definitely a good investment. caused by the thank you very much. turkey on thursday cut its growth for costs in half for this year and the next this comes as turkish finance minister of iraq travels to berlin today carrying some heavy economic luggage the lira has plunged by forty percent this year over concerns about president wants influence on monetary policy and there's a deep breath with the united states inflation is now over twenty percent and the situation is getting worse every day as our correspondent julia han found out in istanbul. circa new knowledge is staff still have work to do but it gets

harder by the day eight years ago he set up on his own as a silversmith in istanbul each piece is hand crafted it's hard work and until recently it's paid off but the currency crisis has changed everything silver has to be imported and paid for in dollars as a result the cost has skyrocketed and with people worried about their finances they're buying less jewelry. you know if we're going to sing for half as much as last year. and are in the red in terms of profit. other people are even worse off i've had people who've had to shut down their businesses coming to me to ask if i could take on some of their stuff. even when the market for the mud baths i have the question really is why i think if you want to use the move will be in your small businesses like you nazar especially badly his but larger companies

are struggling to the lyrics decline has made loans taken action dollars or euros far harder to pay back all over turkey people can see that the notes coming out of the a.t.m. are losing value. you know you don't telephone mobile phones have become more expensive they now cost fifteen hundred two thousand lire more than before as well as food transport everything. to look the truth which in all the chocolate i buy for the kids first it cost one lira and one fifteen now it costs to layer a market even at a discount supermarkets are no longer chief. market that leaves an elected government again says he companies are pretty much robbing us blind they put their prices up every month to them acknowledge them carom outcome is an economist and business columnist at the pro-government newspaper sabah he admits that there are problems but he insists it's not the president's fault and that the conditions for recovery are in place the model of the growth for the next one and

a whole few years mostly be about. freezing and export effects for the growth we will find the way to decrease the government expenditures and after the decision period you will begin to see easily two point five four percent or higher than four percent for turkey's g.d.p. growth between two thousand and twenty two two thousand and twenty three for sarah connor twenty twenty three could be too late he's not even sure if his business will be able to stay afloat until the end of this year. so plenty of problems there and turkey are now joined by. union chief economist suffers arsene buying drugs from france for the cost of the turkish finance minister alberich is in berlin today what does he want from germany bought bring back. well turkey is in an

economic crisis so i think he needs three sorts of support first from the turkish voters millions of which are residing in germany second economic supporter that their country needs very very mention germany is. a turkey's most important trading partner and political supporter on international level because that is something turkey does not have especially not from the u.s. at this stage you know you mentioned the u.s. turkey is blaming the u.s. for the economic crisis do they have a point not at all the economic crisis is something of whole making it is being caused by lifting a policy said that they lead to the economy overheat by too low interest rates by too low currency reserves and by it to

a high current account deficit this sanctions the u.s. as opposed to see it was just one little thing that added to all of this but it was not the root cause of the crisis comes new news that thank you very much. for you go has a warming trend in u.s. life insurance provider john hancock now makes new customers where a health monitoring the insurer can access if customers achieve their fitness goals that pay a small a premium cost in most refusing to ever track i will beat on down the company says everyone profits from the measure they cost the most are healthier and live longer critics indeed. misuse and surveillance. and that's all your business news from navi i gave us we'll have an update in the next hour thank you about.

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a. lifestyle you're a. little. boy . oh. contentious figure at home. he wrote in germany. from the phone of the early. two german reunification. and the end of the cold. war charles was one of the great heroes of the twentieth century. because the gorbachev of the last leader of the soviet union was an agent of change. quickly made his downfall. i have decided to resign my duties as president of the soviet union. last fall

but she's the one historical but i'm sure one as a person. she continues to fight for world peace with the reminder by the issues we have to comprehend when peace is taken our search for today there is a new arms race. the power of time gorbachev and the opportunity for peace wasted starts oct third on t w. i won't welcomes earmarks i'm here to bring you the latest live sound news from around europe and today we have a vos range of topics for you that's what's coming up.