to have the top story, we're following foy, russian president vladimir putin has praised his military for fighting his war on ukraine and bounds of push on with the invasion. he was addressing the country's victory day parade in moscow. he again accused western countries of provoking his attack on you cried chinese update this hour. phil guy, phil gale will bring you the headlines next hour. after a short break, doc fell. looks at how people around the world are struggling with the sky rocking sky rocketing process of housing. thanks for watching and started out with spooky and transformed into an orgy of hate and violence. the history of the ku klux klan, the oldest terrorist organization in the united states found it over 150 years ago . it's repeatedly died out, but always been resurrected. the ku klux klan starts but 11th. oh 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 faring with respect to the right to housing. but maybe

you could tell me a bit about how you came to needing to have around strike with for me personally, i know most problem i have a clock roach problem. i 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 rent situation all over toronto is the same way there is that is affected by another name. and have you had any response from that cap yet? i guess it's iran hostage harassing bill birkhead aside on her, she had a side 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 at 6 a series criminality. 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 melting 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 give people like us. so the neighborhood is getting gentrified to, if you know, familiar with liberty village, it's moving. it's come right up to king and duffer 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 to never before. but then you also have the middle class. i'm able to afford to live in cities and provide the services that are necessary for city. i don't want to over

use 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 is 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 to 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 the what we have for which we have use a term gentrification. when i hear people today saying it's gentrification, one reaction and ironic reaction is if only it's much deeper, it's much more foundational a faster. so anyway, so then the, then just a for apple and then you to now don't worry,

we're in the home of an older woman breaker, who is being pressured to abandon her home because it's in the midst of this big new development here. there was a hospital, it's been demolished and it was demolished to make way for condominiums, 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, the developments are clearly not for the people about i use them . i did it in the i'm busy though, but me thought was you don't know what's going on, give us a call on a saturday. you don't have anybody then all you will eat amendment feed. well,

i thought that you would have thought a 100 right now. i can, i don't know, but it thank you very much. yeah. it goes, oh, sorry, proud to maybe not, you know, when you go somewhere i want to live on notting hill. so what about the feel more will have uh. * ah, i like about this areas is the community, you know, your frames are all phase or colors. is one with even if you don't know each of our we know to the by face was born just 5 minutes from

here. that 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 a light of the 5 to 5 is really cool. the people seen the will will film that come of all around the world. they want to see where the blue doors they want to see this the, the bookshop, it became very, very trendy places to live. and then the new school ledger center that's going to attract the wealthy people to come down to the area. and then they stop by and talk a taste that the to live there. but you know, because they saw fantastic investment for them. better put in the back to off, off stopped on the highlight tour of london cryptography properties. these 2 properties

are, were, is perhaps $20000000.00 pounds each. i believe mr. chapter 8. coming in the region of 40 or 50000000 pounds, ford. if you could get a whole 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. so we, we pass a fly 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. housing. ah, had buildings, they function as you want those houses to be empty and unused. because you can play with them each each these dark empty buildings day i'm making money. so when people think, oh, poor investor, something went wrong. hell know why? my 1st reaction to learning about this phenomenon of vacant dwellings. i was pretty average. i remain outraged. in human rights framework and through the u. n. system,

it's very clear who is accountable states state 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 blow. a silly and told michael. and then i open the front door as a blanket oh, black smoke. disclosable. very common thinking of is a 5 ah one

with and that was the beginning of the file we have. do we need for 2 and a half hours? that's the beginning. 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 my 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 no inhaled asia neutral, being the only bill was, would about the the sakes of a lover. did you get work out of room?

so he's not, he would have lived there all their lives. i just mean like she like that me. and this will limit, make me sick. you want to why brief is mark, don't just disregard them like their rubbish. like they have that file. they just put them as well as like, you know, this is the richest town in the bottom. how can i have 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 can see that nobody really understands whose language is incomprehensible. who is this? 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 so complex, so somebody huh. wow. use them to you. wow. the previous landlords i think was c a c d. i think they did put information up 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, accommodate the rent up to like $900.00 each. that is by $900.00 by manage it. and are you going to be able to pay that? i don't know. i mean, i can definitely say net sheet is,

is the one we have one ago. i don't have a clue. i don't know. right. and or do 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? lose money? ah. 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 titled sign that i noticed when i came here was lisa labels miti 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 deacon. he again, is the swedish arm of the black them company, so many fine thought they actually don't bother much here. but this is the typical example of the typo estates we are interested in. yes. so every time an apartment is vacant, they thought they renovation, whereby they can increase the rents. wheeler of flea, 50 percent. but these are increased. rents have no connection at all to the actual costs. why this is very, very profitable for them. no,

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 companies like wax own or a the big financial enterprises were the big winners in the crisis. ah, there with rick winters in the housing market. ah, 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 dad bought the, the distressed assets to make money. so it is the way that the 2008 crisis has played an important row, increasing wealth inequality in the united states and, and other countries that have been inflicted 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't 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. when they're, i phones i suppose now, you know, i mean homelessness is a bit different to, you know, we're seeing images of people. and part of the problem 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 $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 and and, and, and what we're looking for the near buildings, the new estate, which is now called elephant paul, which replaces the high guy state where i used to live with like so many, all of them. when you flatten this part of the development sold in hong kong and singapore, when that sold overseas and not necessarily so for people to live in the soldiers invest wouldn't like to sort of romanticize what it was like the full right. but it

was an ordinary council despite all to ordinary families, and it was at this time a day, most of them been off to work can off to school, read to college and so on. we're dealing with a very it's very particular perry, 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 substantive reasons as to why people are so 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 fact that some people 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, lowering cost to production with just a standard economic analysis. but by fishing for fools looking for people you can take advantage of or 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 there's a gaping hole our system most of our major international systems are that don't take the individual so seriously . left hand corner. yeah. my flag was then like, i say bought my flag. so i own that flag paid my mortgage. the problem is the price is round here in a for, in a ground floor. any, any flat round yet 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 towel block. i

still not been home 9 months late, 9 months later. i'm 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 anyway. if you can treat people all still a tragedy like that, the way they're treating them now will help as anyone have ah 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 like, am i okay, so is this ridiculous? am i being ridiculous with imagine that you have it and gentlemen unit the a little pressure the like okay, you know what is empty place you'd have to actually be me get on to

have the vehicle put out it is put on to the concert mac. we tend to be like $25.00, just the she got it up as well. so should i list it buddy scott, company the corporate sold, consult the legality. guy calls it. but it's a beautiful we'll just put on there. if be quality, then de la garza versus willie cassie lady mindy alice. so should i say that they say to pearl equipment processed? they said it was when he sold the sport he compounded to play benny hadn't that is all the eat audio you. these dad of jeremiah, cassini, chic littleton will stick to we're finally in thread be sold these product. the lay still non the fight in new law still get complicated. the bad me keep poor even

that if this this so a look to that, but it'll be going to get pushed that crystal mckinney's more. no poyser packet was, i'm in community collected. jimmy's a met that in our face, calking battle, most of the medical, the actual michigan was on medical monet, michelle keianna, l i t t o, when i pad do or love wasn't that he thought the note can be done it, but at least this about get found the static when he got then the from the fatty monkey fat than others. i mean, she missed general. when you saw the local see miss kim cornish told me that he was yona. then mostly supposed was his only been sunday bentham maintenance in the units and all to diesel, albuquerque, lagossi, so good mccarthy squad that he construct after moving, pulling

a non point to lean thought, chatting. moody, jr. leopard michaels like, i'm a fan to get on the group be going on because you had said media bugs on facebook. net you still did it. she had had a good spot suitable by god in with us. michael maple cb keep you know, blazing with that love what i thought you were nice baggage. some of his chin a would have seen that movie. give me that bad. yeah. bag in she quick. what that chance to beat us. we often utilize a missile, should them avoid dental casa authentic missile? she best saw no the bug out on a gas i'll pupils cb pears, both in the school and let it do so. i mean okay, no, not going on with his father that i mean,

yeah. lacrosse to mention it to them about that ah, with it is a totally dysfunctional system in the late 19 seventy's and 1980 scared developed, but i would call it an ideology or religion that merge you solve all problems. will be big winners 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 where you start, it would take a high priest was built friedman. the big experiment was julie under

a dictator to really implement these ideas. they thought that if we privatized for 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 the pie. it ignored the many instances where markets do not work well. it was so bitter, 3 marie, 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 when i think, how will finance come down? it's bringing itself down. it has, you know, extracted so much value that it's 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 angle movement. it's not a movement of just cities. it's a movement. hopefully, all stake holders, you know, although the don't getting to be launching the ship here in barcelona, where the effect from financial aid station have taken hold. and where there is a mayor like out of collateral. like i'm, i've been looking at them blackstone, the largest private equity firm. they have more power than miss day. did you know, how are you? oh, yeah, you know exactly. you're crying when we have some of these arms trying to speak you later in the say they want to buy it a building. you buy it for you, but we do it because we have money. i miss a lot of me because your friend my part. yeah. that that can be expensive. i'm interested to know how the investors are vulture, funds,

the hedge funds, air b and b are reacting to what you're doing in the m. b is when we met or lexia and on wheel. when we ludo moments, we had a cbl, forget naso pot belly there. it is. didn't get one out of it. we'll let you know some, some groups acting like off into my peers. right now a b, b 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 has something to live on that they're

working on. i mission to. so 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 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 master development. you've 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 told you don't pay and you will you take will do is look,

will close the desired is of will on union at yahoo! but hold on, do you, do you do packaging until 10? o. 4. if you go good love on, on your credit. when you come out of a little you don't lose a lot from you all as well. and then the pay to talk will go in that i'm or pelletize. 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 eviction under international human rights is considered a gross violation of human rights. people die enforced evictions and people's lives are basically ruined. so it's not to be taken lightly ah worry issue. climate change housing, they ought to be bettered into the fiduciary frameworks of branch of farms. pension funds are representing people who are retiring. you have to ask, how would they feel about this?

would they feel comfortable with owning shares and a company that is that immoral? i made a very nice to meet with her. yeah. to be a me look any other corner for this? i would. i think it we have come together. we've cds we've partners. we'd look at tremendous associations to build a partnership in bennington. yet the and b a from kush

a question about it and i suppose funds are going up. i'm sure everybody knows a little you, willow, chose amino leo was good to know that we were going to rush olga, you a buff get women? so what a, so she'll get, he'll get those who is who we both empty. should i just come joust? appleton curves for massage. pretty true. so homely, the if you just 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 us, right, the right time for new york to sign onto this declaration. 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. thank you.

wow. i'm any pictures of you. no idea. anyway, we do need to do, we should do another piece. now, jane deadman is back from the guardian. i wonder about taking another kick at the cam 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 publicly, doing so and trouble with ah, ah,

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stores may 20th on d, w. with this is the w news line from ballet and russia's president says he will push on with his war in ukraine. lottie, may i put in addresses moscow's annual victory day parade, blaming western countries for provoking his invasion and praising russian forces for their efforts. despite their lack of recent progress, also on the program, southern ukrainian city of mich alive is blocking rushes west for the advance and bearing the scots. regional government tells the.