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the government has to determine which zones is it going to insure and was known as is it not going to insure and it does that based on the racial makeup of neighborhoods. neighborhoods that had a certain number of black presidents what had literally red lines drawn around them on the map. and they wouldn't insure mortgages in those areas because they believed that the properties would not hold value the brain turned on a loan the risk. banks take up that same practice they decided they're not going to lend in those areas that meant that all these benefits that were flowing to potential homeowners were flowing to whites and not going to minorities. to this element of racism into our ownership culture. their problem its own problem is made most of them up and why wimbledon do what we did are probably going to work with them living 2 doors away so we passed a law in 1968 at the fair housing act. proclaims that fair housing for all of

human beings is now a part of the american way of life. the mandate of the government is given to masses prevent discrimination but to actually affirmatively go out and say how do we do. so the government betrays that. i find as i travel across the country that whether we're talking about white americans or people who maybe grow but in other minority groups like the mexican americans i rest. just like the black americans what everybody wants is an equal chance to have a piece of the action that the federal government has never enforced the fair housing act and that state and local governments do not enforce the. you know you

can have federal policy but it's the local administration of these policies that off the moon the people receive discriminatory treatment hello my name is washington. street and part of our. hello my name is graham wellington and i'm calling about the apartment for rent on park street vailable. so what does this mean it means the places that were segregated in the thirty's forty's and they're still racially segregated today because we haven't done anything to undo the racial segregation. today is over 95 percent white very few minority families living there. when fix the damage that was done we just allowed all those inequalities to continue but said from this day forward we can't discriminate. it didn't fix it all of these policies and. this is

these systems. federal government state government local government. they converge to sort of create concentrated poverty by the time we reach the fifty's and sixty's so that creates a situation where many urban areas you have like what george clinton would call you know chocolate cities in the bill suburbs. they still call it the white house but that's a temporary thing and there's a lot of the city. we've got to get yeah every time i don't need to get you know a. working on. a unit you know you will be. interesting to tell you. there is no clue gram a promise that

a president can bake think that better the government going to come in the illegals wanted to do that yet. listening to. the condition of black veterans and white veterans diverged even though when they returned from the war they were economically similar families. public housing then became a black phenomenon. people fall into this category they have to live where society is pushed it. is. not. any nation. going down and people constantly moving the cause of this. city's into adequately service neighborhoods that were heavily concentrated with african-americans garbage collection wasn't picked up as frequently a strange war repair this well. conditions deteriorated and the urban areas became

slums. i would like to rub america's nose in this is say take a look at it if you want to reject that boy but i certainly would it would hate to think that anybody thought i said it would given up hope what i'm really saying is the society has failed the hope of the people who live here and struggle here that's what i'm really saying they're going to go on struggling anyway whether we fail or succeed. but the same time you have concentration you also have clearance you have how a construction which is destroying black communities i was oftentimes in urban areas a built in the middle of black communities so there's a sort of rising anger frustration that sense plays. well once they became slums saw at least look at them and said well we need to do some slum clearance.

where are all those black people that all those loci is where they go. root in our neighborhood messing with our unity it takes 10 years to religion so they know what to do in a systematic genocide. systematic as well as african american families who were displaced had to move somewhere so those families were given section 8 housing vouchers the idea behind section 8 is fabulous it's exactly what one would hope is that people who are impoverished have an opportunity to move into neighborhoods that are not impoverished unfortunately for black americans it doesn't work that way. a large reason for that is you can still legally discriminate against someone for using a section 8 voucher so landlords and most suburbs would not accept section 8 housing factures and that's perfectly legal. white homeowners deathly afraid of

a black person movie makes them because blackness is associated with lower home values we share your presence in the neighborhood c c don't undermine the value of our own and we're concerned we'd like you to move out before it becomes common knowledge that there's a family in the area. it's nothing personal oh oh it never really is it was terse you know but i feel real that we grew up in philadelphia actually originally and we were in an all black neighborhood in my life changed when we moved to south jersey not far from some of the levittown type of neighborhoods and when we came in the police had to come in with us because people were throwing things at our house and terrorizing our house at night. and we moved there because we wanted a place that was integrated and we just wanted to raise our standard of living and it was the strength of my parents that said this is where we're going to be.

do you think moving here will affect the community as a whole. definitely in what way i think that well the property values what i mean to go down if they are allowed to move in here in any numbers do you think them are 11 will affect property values. i don't think. property. and i think you purely i might not happen. well as a result of all these policies we created a segregated system and because we forgot now this entire history of how it happened. white families believe that they got where they are simply by their own hard work and determination to succeed in the middle class life. but they don't understand. is that their parents could have came as that immigrant from

a white country and immediately had access to loans and the ability to move into white neighborhoods and black america to succeed in the middle class life. but they don't understand is that their parents could have came as that immigrant from a white country and immediately had access to loans and the ability to move into white neighborhoods and black american isms of it act very much like a ponzi scheme you have this immediate sugar high with this long term liability kind of hanging out there in the future and the last generation standing on this can have to pick up the bill. we prayed on our fellow americans just so we could keep the growth going and nobody stopped to consider the impact that this was going to have on real people and real families. i was bird dog. finding foreclosures. i

just saw that. trade in the united states was a real estate so i was determined. it was so much fun when we were making money the company had season tickets to the lakers right behind the lakers bench. bryant's wife leonardo dicaprio literally right in front of us and we used to date. 15 years old right in front of harry's hanging over the back of her seat. dad. playing with. anyway. but. $9697.00 there's a new product that started to flood the market 125 percent devalue and when i 1st started seeing that i said this is a recipe for disaster. you'll homeowner with too many bills

too many high interest monthly payments why not pay them off with a 2nd mortgage up to 120 percent of the value or less your 1st mortgage balance they went after the payment that's what they did they get a 50000 dollars 2nd for $500.00 a month go buy that boat go buy that 2nd car. it wasn't a home improvement loan it was a signature along and you could do whatever you want but i just thought it was an exceedingly irresponsible loan product. i took advantage of me. taking taking how much come on. a set of eyes no no. if the lenders got greedy and they figured ok we exhausted the $125.00 potential pool. let's go make it super easy to get purchase

money now if you were to ask me what the perfect credentials are to qualify for a home loan i honestly couldn't tell you may i help you sir i. need a quick answer on a new home loan. stated income stated employment stated stated stated which means whatever the borrower says is factual is recently as 1997 you had to put 20 percent down and he had to struggle to save that kind of money if asked for 5 years and a busboy from a local coffee shop can buy the same house for nothing you have to verify your credit history credit we don't have it if we did they catch we do without. what you say. you could run the entire american economy i mean where would this country be able to know more than we could pay back. in order for the house of cards to stay standing it has to get bigger so the guy that's in the 3 better one and a half bath house he's got to move up to the 4 bottom 2 bath house. the house

a car just kept getting bigger and bigger and bigger and bigger and bigger and bigger and bigger and it's just all on fake valuations. yeah at that point the home did absolutely become a vehicle for excess home prices rising from the case shiller index i look at the boundary and i say yes this looks good it's much better than expected you look at the number and say. nobody knows where home prices are going to do. people are increasingly speculative when they buy a house a major concern is how much can i sell this to someone else at the other end it can be called the greater fool theory maybe i am a fool dubai's that's a big house but i'm going to. to an even greater fool.

there were people who thought 50 or 100 years ago that home prices should decline with. the reason is they wear out. don't expect that the gains are expected to lose value and that was a common view in the past. we have come as a society to place a tremendous amount of value on the home itself. and the bigger the home the better . it's interesting because living in the houses were meant to evolve and change as families evolved and changed over time. the idea was that this home would be liveable all your life you could have one bedroom with 3 bedrooms to pending on what your needs were at the time and this

area was an extension of the living room or it could be closed off and become a very very. close here. as you're going to be enclosed here. you might enter. hall. so i have the. bedroom hallway you know where all the entrances are to the bed rooms so it could be a one bedroom or 3 bedroom right now we create that one bedroom here and there a are one bedroom that could be partitioned with a rolling wall so it will become 2 bedrooms. it was an extension of the dynamic coming out of post-war idea of what the house provided wasn't really about the upscaling or the supersizing of the house consider that relationship between the growth. of the physical house was still somehow in balance

subsequently people began to make the scale shift where the houses became just warraich. i'm in love with this. hope in a fight because. i don't think it is. a. 5000 square feet on one staircase i'm going to visit. their kids. feel like it's very attractive. to see if. it's really more suited for grandma she doesn't want to have a deep. thing means 12 foot ceilings on

a mcmansion they're going the way that. people want to buy what they need and they don't want any extra and this has so much square footage of wasted space. they might get away with one more sale but in the years to come it's going to be tougher and tougher. on yeah. there's just tremendous economic dependence on this idea that we can keep building new homes on their own lots and that they have to keep marching across the landscape because it's a huge part of the economy depends on being. told. yes so our property line is just basically the white picket fence all the way around. back up to there. so we're going to. i have a garden over here and a chicken coop over there gigi's

a grand champion. not so much dolce. so this whole industry of easy quick money for property did not end at the retail borrower. and developers were exposed to these funds. so these companies were going in and buying up swaths of land from these farmers at ridiculous prices just given them enough money for their great grandchildren to retire and it was just so hard to say no. to anything and that's where you see all of the citrus farms in the inland empire gone. in of course the cities were loving it because the tax basis on real property with a house on it is far higher than firmly. the cities are seeing their tax

base quintuple literally overnight. the developments stops. join me every thursday on the alex salmond show and i'll be speaking to a guest of the world of politics sport that's less i'm show business i'll see of that. you know when i'm going to be out there seeing i don't think about it at all many of us grown men not new dorp or. i kind of were on the. course of

the now i think it's higher than our. members from africa mafias promised them safe and quick passage to europe but once they. leave they are in sleeves they call it speech europe. will not some of them. i couldn't you know. this you know get it out. of the chain. they sold the. it's all gone court of the. the persona but a kid even. making

a stand against radicalism thousands rally across france in the wake of friday's brutal slaying of a history teacher reportedly killed for showing his class controversial cartoons of the prophet mohammed. also to come testing the true shells continued to fall with a new ongoing territorial dispute between armenia and azerbaijan despite both sides agreeing to a 2nd cease fire we hear from locals on either side of the conflict what can i say about people who have no idea of humanity it is a pity that we are dealing with barbarians and terrorists medians also proclaimed cease fires but never observed an occupy new territories.