is also the co owner of the alley, duchess baseball team. the takeover is still subject to governments on community approval. the seal will end 19 years of when a ship by russian billionaire groman from of which he was forced to sell the club after he was sanctioned for his length to russian press than vladimir putin following the invasion of ukraine. that's all we have time for. stick around warn you, said the top of the o. oh, where natural spectacle proved world the return of the spiky yellow with louse will ensure the survival of the entire ecosystem. ah, one of the many success stories from a bastion of bio diversity. st. helena stuart's meet one he is on d. w. ah

ah ah ah. and my job is to go around the world and investigate different housing issues and to the see how are people ferrying with respect to the right to housing. but maybe you could tell me a bit about how you came to meeting to have around strike with for me personally,

i have a most problem. i have a clock roach problem. i've got things that need to be repaired in the building. they withhold services, they run you around in circles, they frustrate you, you get that off. you just want to leave. but we're, we can go to the brand situation all over toronto's the same way. there is, it is addiction by another name. yeah. and have you had any response from that cap yet? i guess it's iran hostage, harassing bar had a sign on her. she had a sign on her balcony about the red stripe and they threatened her victor. i'm giving you this notice because i want to end your tendency. i want you to move out of your rental unit by such and such date reason. i believe that you or someone living with you has committed an illegal act. and 6th series critic ality. yeah. on my group for legal action, guns and drugs. and oh my god, a shame africa with arden arms category there. yeah. so this was based on the

banner. yeah. you know, we're not back, mousing them or anything just as may 1st rent strike. yeah. they own 19 buildings in the area and that's their plan for all the buildings is to get people like us. so the neighborhoods getting gentrified, if you know familiar with liberty village, it's moving. it's come right up to king and duffer and, and this is, it's only one direction into our neighbor and we're in the way so you have like poor people really struggling now like like never before. but then you also have the middle class unable to afford to live in cities and provide the services that are necessary for city. i don't want to over

years the word crisis, but it suggests a crisis. so then we start asking, wait a 2nd, who's going to live in cities who are cities for it's not tom rocket science enough. what do we think people need to have a dignified life. and it's clear that decent housing affordable housing has one of those things. and it's supported by international law. kennedy heights family is just an hours away from learning whether or not they can stay in their home or be forced out on the streets. problem housing is gobbling up more shrinking paychecks. people and 59 out of 102 countries worldwide would need to see their yearly income for at least 10 years in order to buy

a house in their country. there are 2 histories we might say that intersect to day in that space that we call the city and one of them is familiar aisha, which is so what we have for which we have used to term gentrification. when i hear people today saying it's gentrification, one reaction and ironic reaction is if only it's much deeper than fact, it's much more foundational whole with gasoline even though. so then either way i see of apple. i then you the now little i've enough for you were in the home of an older woman breaker. a is being pressured to abandon

her home because in the midst of the big new development here, there was a hospital, it's been demolished and it was demolished to make way for condominium luxury condominiums and they don't even own this land. i've heard that there are many units standing vacant already, luxury condos, and last because no one in both parties so can afford to buy and purchase any of these units. so these developments are clearly not for the people about, i mean if you didn't, i'm busy though for me. so it was you don't know what's going on. you know, something you wanna build on a saturday. you don't have anybody that only will amanda seed? well, i don't have a photo. i can, i don't know. i don't know,

but anyway, thank you very much. yeah. i was very proud to live in notting hill when you go somewhere. i went to live on notting hill because i've heard about the feel more, whatever. ah, thing i like about this areas is the community. you know, your frames are all phase or colors. this one with even if you don't know each of our we know to the by face was born just 5 minutes from here in the seventy's and eighty's and ninety's. i've seen whole area change of

pop stars and people moving into the area because they like the 5 to 5 is really cool. the people seen the will, the film that come of all around the world, they want to see where the blue dory is. it want to see this, the bookshop, it became very, very trendy places to live. and then the new school at their leisure center. that's going to attract the wealthy people to come down to the area. and then they stop by and talk a teeth that need to live there. but you know, because this fantastic investment for them better put in the back to our 1st stop on the highlight tour of london properties. these 2 properties are, were, is perhaps $20000000.00 pounds each. i believe mr. chapter they'd something in the

region of 40 or 50000000 pounds for it. if you could get a hold one of these, it would be 30 or 40000000 pounds and nobody lives here and nothing is happening to this thing. so it's become a dead spot in london. there was, ah news agents, there were pubs, there were a couple of restaurants, but the community itself has evaporated to leave the parcel flight 90 full. if i so my fly, i could not leave in kids and shall say, i'll be forced out the area. and i'll have to actually 40 move out london. ah, one way of putting it is,

this is not at all about housing. ah, had buildings, they function s s you want those houses to be empty and unused because you can play with them in these dark empty buildings and they are making money. so when people think, oh poor investor, something went wrong. hell, know who my 1st reaction to learning about this phenomenon of vacant dwellings. i was pretty, i reach, i remain outraged. back in a human rights framework and through the u. n. system, it's very clear who was accountable states states are responsible,

they have international human rights obligations, they sign treaties, and they make commitments to the international community that they will uphold international human rights which include the right adequate housing leo, that's the real block. i personally can call to my door and then i open the front door as as a blanket. oh, black smoke disclosable. very common thinkin. oh is a 5 ah one with

now is the beginning of the file we have. do we need for 2 and a half hours? that's the beginning best. ah. when i heard about it, i was in canada and watching it unfold through twitter and then i started getting these details. social housing estate, marginalized community community sat to in a very rich, affluent burrow allegations of poor housing conditions from before the fire.

there were these elements that seem to be a bit of a global phenomenon where you have a kind of vulnerable community, most of the people in the rental working, but they're working poor literally living side by side with incredibly wealthy people. and i credible amount of wealth the tension between the 2 and then watching this fire, it was like a physical representation of the displacement of a community. for me, that's the narrative of the world right now. one of the i heard one of the counselors while the counselor said, if you can't live in knowing healed asia neutral being milledgeville was, would about to say several other did you get out of room? so he thought he would have lived there all day lives. i just mean long to you like

that. me and this will limit make me sick. you're going to why brief is tomorrow. don't just disregard them, not their rubbish. like they have that file. they just put them as long as like, you know, that is the richest town in the borrow them. how can i help them? oh, you have the instrumentality. that is the law. exactly. because when i see a sales with power board, can they deploy the law in ways that work for their stuff is happening in hm. mm prices go up in a neighborhood that is fixed. that's when the everybody understands at part and

then they should understand that at that point, another actor might come into the picture, a monster that nobody could see that nobody really understands whose language is incomprehensible. who is this monster actually? what is happening here? i don't believe that capitalism itself is hugely problematic. is unbridled capitalism in an area that is a human right? problematic. yes. and i think that's what differentiates housing as a commodity from gold as a commodity. gold is not a human right. housing is just

half with wow. you're 17. wow. the previous landlords i think we'll see. you see the i think they do put inflammation of little. let us know that the bill due to conflicts is going to be sold. but this is before feel fit off. if it came it, you know, who is fairfield, i don't know who they are from. what i'm told to pay a bill is a subsidiary of um, is it blackstone? right. private equity firm? yes, exactly. they want to raise each each carmine the rent up to like $900.00 each, that divide $900.00 by mileage a dollar. and are you going to be able to pay that? i don't know. i mean, i can definitely say next year is, is the way we have one ago. i don't have a clue. i don't know. right. and are you mind me asking,

are you employed to say yeah. and so what percentage of your income would this be 2590 percent? my my the asi glory. yes. 9090 percent. do you consider that affordable for you? let me i think human rights law hasn't caught up and it worries me that i haven't quite yet found the language. how do we describe it in a way that will make sense resonate and really get at that issue? i'm still looking. i'm looking for that. i feel a little bit desperate about that. so maybe i need to keep talking to the people in the financial field. the 1st title to find out. i notice when i came here was lisa larry lived admitted

the opening hours. they show with our tenants that they are willing to, to me from an early for 3 hours or week on, on tuesday for the de connie again, is the swedish arm of the blackstone company. so many fine thought they actually don't bother much here. but this is the typical example of the typo to states they are interested in. yes. so every time an apartment is vacant, they thought they renovation, whereby they can increase the rents. wheeler of free, 50 percent. but these are increased. rents have no connection at all to the actual costs. why this is very, very profitable for them. are.

mm. very different from the bank. we only banks. that's why, you know, it's sell something. we pay money for. finance is totally different. i always say finance. so something it does not and that means that finance is basically an extract extract finance. it's like mining once it has extracted what it needs, it doesn't care what happens with the rest. ah the value of all real estate, that functions as an asset is $217.00 trillion

dollars. that's more than global g, d. p. of all the countries in the world of all the economies in the world. ah, they're highly kennel flashed extractions because they come in the shape of extraordinarily complex instruments that nobody who's not in that business can understand it. so complex that we delegate to the experts who are the experts? is the financial sector itself, a company like wax own or any the big financial enterprises were the big winners in the crisis. ah, there with rick winners in the housing market. or there was a big winners in the equity markets. it was as if the u. s. government, rather than helping the homeowners who were losing their homes,

actually sided with the banks, encouraged foreclosures to clean up, the books, gave the money to hedge funds in and private equity firms who then bought the, the distressed assets to make money. so it is the way that the 2000 a crisis has played an important role, increasing wealth inequality, immunization, and other countries that have been afflicted by the crisis. it doesn't totally work as the statement yet. let me give you a snapshot of the new world of housing. and while i do so, i urge you to reflect on the images behind me. just like that. like i can remember how we did it with the homelessness report. but i remember when i was re reading my statement, i did have that if a pin dropped, we would have heard it in the room,

and that's what i need because they know half the time they're on their blackberries and not paying attention live there. i phones, i suppose now ill, i mean homelessness is a bit different to, you know, we're seeing images of people. and part of the problem then is that when you're describing the stuff is supposed to be shocking, it's all cranes and buildings of glass and stuff. and so you're not moved to the same one. distinguished delegates. we are living in a new world, a world in which the housing sector has been transformed by global corporate financial actors and massive amounts of excess global capital. global residential real estate is now valued at a $163.00 trillion dollars. more than twice the world's total g. d. p. housing has been financial ised valued as a commodity rather than a human dwelling. what i am suggesting is

a significant change away from the commodification of housing in order to retrieve what housing means in terms of human dignity and security as a lived experience, as a human right. thank you. and we're looking for the near buildings, the new estate, which is now called elephant park, which replaces the hagar state where i used to live with so many all of them. yeah. when you flatten this part of the development sold in hong kong and singapore, when that sold overseas, they're not necessarily so for people to live in the soldiers investments. wouldn't like to sort of romanticize what it was like before,

right. but it was an ordinary counseling despite all to ordinary families. and it was both at this time the day, most of them enough to walk and off to school, read to college and so on. ah, we're dealing with a very, it's very particular period. the elite feel free to violate basic laws and ah, and then they're surprised that there is bitterness among their, the working classes that have lost an incredible gra, i mean, a lot of ground in our society. so it's a tough moment. and that following the money brings up a lot of very substantial reasons as to why people last angry. they don't know exactly. they don't have the knowledge, but they know that something is not right. my own work was concern about

asymmetries of information. the tax exempt. we know things that other people don't, and that gives some people the ability to take advantage of others. and you can make more money, not by making a better product and lower cost of production, which is the standard economic analysis. but by fishing for fools looking for people, you can take advantage of not creating wealth or actually just taking wealth. if you're somebody like the head of blackstone, i've heard of talked about the big advantages of no regulation of deregulation. course he wants to be able to exploit the people who are living in his properties. arrived at the moment when is it keeping home our system

mr. far major international systems are that don't take the individual so seriously . left hand corner. yeah. my flag was then like, i say more my flag. so i own that flat unpaid, my mortgage. the problem is the price is round here in o 4 in a ground floor. any, any flat round year is extortionate. yeah. and they wanted to give us like a little bit of money. i say of you go, but then i'll have to move out of london. so i decided to, to stay with friends. most of the people that lived in that town block. i still not been homes 9 months later, 9 months later i am now in

a hostile it the place that they could offer me could be anywhere in the country. and if i don't accept it, i become intentionally homeless anywhere in the country. well, yeah, i mean it could be birmingham, it could be manchester anywhere. if you can treat people auster, a tragedy like that, the way they're treating them now. while health does anyone have lou was picture myself like i'm 5 foot to i'm from this like nowhere place. and i'm trying to make a huge difference globally. i'm

trying to change an entire conversation that's embedded in the way people live all around the world. and then i look back at that girl from ottawa sitting in her basement office and it's like, what am i thinking? i am i, i guess it, is this ridiculous? am i being ridiculous? with imagine that you have a chance to meet your need. the, a little tracy, the like okay, you know, open as empty place. you'd have thought she would even get to know who

did you go? put adding that on to the independent mac. we tend to be like $25.00 just the she got it up as well. so should i list it, but i think she's got comedy the corporate so consult the legality. guy calls it. but it's a good. what is that? i'm thing if. because then the la garza versus when the casa lady mindy, i'll associate eisner, they say to fill a quick won't touch. they said louis, when he saw the spot, he compounded you wait, benny, fatty. and that is all the eat, audio you these data jeremiah quasi see the sheet. littleton will sick to was out of the in thread these all these products, the lay still non didn't fight and new love to get comparative. the bad me keep boy vin. but at this, this, so a look to that, but it's got

a gap which that crystal mckinney's more no poyser, the cat was adenine community glutted. jimmy's, i've met that and i faced calking battle. most of the medical dossier michigan was unco morning. misha keyanna elaine born when a bad deal, or what was it that he thought the not a copy of it, but at least this about he found the static when he got then the, from the fatty clunky saw the notice, the man, she mused general when he saw the local see miss kim connie. so luciana then lost his savalst, which is only was an event that we went and then you had them all to reasonable albuquerque, legacy. so good mccarthy squad that he got a truck after moving fully deep enough poor to lean through chattanooga,

luigi leopard michaels like them a fact to get on the group be going on because you that said in many gayago's and facebook. net still the it she, it added spots you do it by god, him it with us. mohammed was cbs key, you know, blazing will be done. who love what? authorial nice baggage some of his chin. it would have seen that movie me let that . yeah. bag in she quick. what that chance to beat us? we have you in the doors a missile, you them environmental casa, authentic missile? she best saw, know the bugger, or a gas i'll pupils see, put in the school and let it do so. i mean okay, no, not going on with his father that i mean. yeah. lacrosse to mentioned that amount

of ash with it is a totally dysfunctional system in the late 19 seventy's and 19 eighties there developed a code at night. yeah. which your relation that merge you solve all the problems. still the big letters to still be big loose in the name of a should the winnings be redistributed to the losers to the end? if everybody ends up working it would take a high priest was built friedman. the big experiment was actually underpin o'shea. it took their dictator to really implement these ideas.

they thought that if we privatized to way regulations, lower taxes, growth would go up. everybody would get more, some people get a lot more at the top. but putting aside envy, everybody would get a bigger piece of a pie. it ignored the many instances where markets do not work well. it was so bitter freeman, please read them economic argument for why they should be unconcerned about morality. well, after a 3rd of a century of this experiment, we know that it's wrong that you can make money by destroying the world. and there's something wrong with and when i think,

how will finance come down? it's bringing itself down. it has, you know, extracted so much value that it stock now, and it's beginning to go on the other side of the curve. it is beginning to decline . you know, the amount of value, the capacity to invent more assets, we see sort of a stars. he said bit so it will bring itself down, it will come, it will come back, potentially roaring. that right now, it's a bit of stock. if we're going to defend the cities as we know them, i can't do it alone. i decided to create a new movement called the shift so that we can come up with ideas of how to

protect our cities. so it's not an engine movement. it's not a movement of just cities, it's a movement, hopefully of all stakeholders. you know that the don't getting to be launching the ship here in barcelona, where the effects of financial aid station have taken hold. and where there is a mayor like out of collateral. like i'm, i've been looking at the blackstone, the largest private equity firm. they have more power than the state. you know, so how are you? yeah, you know, exactly. you're crying when we have some of these edge pounds trying to speak you later in the say, hey, they want to buy it a building. you buy it for you, but we do it because we have money. i missed a lot of me because i your friend, my part. yeah that, that could be expensive. i'm interested to know how the investors are balter

funds. the hedge funds, air b and b are reacting to what you're doing in the m. b is when we met or next, you know, we'll, we ludo moments. we had a cbl book. it not so brought up and lay there like it is. the them get is one out of it will that there's some, some groups acting like off into my for years right now a. 2 these big private equity it has taken me some time to ask the question, where are they getting their money from? ah, pension funds have a huge amount of money and they need to grow in order to make sure that the people who pay into the pension fund have something to live on their working

lives. mm. mm. i mission to south korea was grand. well, before i had this one piece of information, but some of the largest pension funds are right here at the national pension service, is the 3rd largest pension fund in the world. it was one of the poorest countries. and now in the 11th largest economy in the world, in 50 years, that's pretty impressive. but of course, to make that happen in a 50 year period required a kind of brutal ism of massive development. you come to have to come with a lot of people don't know how to go when you feel you know to you to pick you taught. you don't pay and deal you through tech. if we'll do is look,

we'll pleasant as i will on new york. what hold on, do you do? you do packaging on time, but oh, for to go. did you get some of our money? you could you, when you come out of a little you don't lose nobody here. unfortunately, we don't got to be always well under the parent. i got cool. go in that i'm a parent has oh, national and city governments in south korea need to make some major ships before they will be in full compliance with their human rights obligations. you know, human rights law is very specific about those types of projects forced.

the vixen under international human rights is considered a growth violation of human rights. people die enforced evictions and people's lives are basically ruined. so it's not to be taken lightly, hulu worry, issue. climate change housing, they ought to be betted into the fiduciary frameworks of granted farms. pension funds are representing people who are going to retire and you have to ask, how would they feel about this? would they feel comfortable with ody shares and

a company that is that immoral? i made a very nice to meet with me in the corner for this i would. i think it we have come together. we've cds, we've partners with local government association to build a partnership with a question. we have a window window,

shows me a video and witness, but to show choker yogi, if they go to us with come down and bottle curves for me 1st. pretty true. so hopefully the, if you don't know what you around this table do, can have a huge influence. it can guide other cities to prevent powerful financial actors. and they are powerful from dismantling cities as we know them. we thought a lot about about whether it's right the right time for new york to sign onto the stick. and we decided it really is. i mean, these are issues we're all grappling with. we do feel like it's a great opportunity to be learning from each other, so we're very excited to be part of this. thank you very much. thank you. well,

i don't have any pictures of you. no idea. anyway, we do need to do. we should do another piece. now. jane gunman is back from the guardian. i wonder about taking another kick, a pic camp on financial aid station. i think with the one thing the one take away that they should know is that cities around the world are shifting and publicly doing so and public ah,

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