i a standard of living for a country of. 'd a. kind of mind that never had a supply house price at a nationwide basis. she an ebb and flow price but you're not going to see the collapse because she when people go into a bubble. if there is a bubble. that. people like. that the. entire economy is in danger and that means life as most americans know what is about to change 40000000 people took a mortgage in the last 3 years they will assume this is not redemption higher among

people follow. them bernadino recently came to 3rd california say the filed bankruptcy and i don't like the homeowner who can walk away from a mortgage that's more than the house is worth a municipality. or less. if you come back to this property it's considered trespassing did you ever think that this word could become 50 percent of your business no never would have a little bit. yes i found a flaw in the model harms our world your ideology was not right to start. out. everyone needs one of those.

yes not just. the team. from the living room. i was 18 counting the counter. he count those 2 feet here. i've been doing real estate with him since now that was 2 so that's 16 years. after the l.a. times article in the nightline piece all bad i remember us being just completely crazy busy i mean as great as it was it was such a blur. it

was a blur. you think when i said where you think that i don't know all those details i'm just saying blur meaning it was a blur time of my life well let me add some color because i remember the i'm sure. the blog was run into i don't want to talk about those tales. because of our connection to countrywide they started at least they had just applied to be one of the agent. of. december 2006 this house sold for a 1000000 dollars 900 square feet right across the street from the freeway one. so we call it retro order here a vintage. lovely. you. are watching this video and your realtor.

i represented the buyer when they paid a 1000000. dollars shipped which of my tie down and grab a shingle. you don't deserve to be licensed december 2006 so i. want. to get fired. i'm jim. there's a lot of trust marketplace on value could this be just a value bubble where people just keep paying these crazy prices a lot more than they used to just literally a year ago just because they want to get a house there really isn't the evidence to help support them that i can say oh for sure it's worth. there's really i think some valid concern about valuations when the proof is so thin. it's always been

a problem in this industry there is. just one way to determine what some is worth is look what other people paid off the other people were crazy. they were hoping to get $2000000.00 for these appear you can see the bill i think a handful of them and gave up and those are $5.60 square foot alice. everyone was going by the montra getting in or you might get price down forever because up to that point no one had seen any previous downturn just wasn't in the camp and nobody clued in realtors ever really thought parties never going to end.

i mean the thing about this is this is kind of based on bill i was the engineer would design and layout build this stuff. i would work on these big development projects sees would come to us we want this done we got to build it and i sincerely believe that the work i was doing was building a great america. but then i started to ask some questions about what comes next. after we build something how do we take care of it what's the cash flow that makes this all work i started to look at developments that i had worked on and run some larger math problems. for example developer would come in and build the road the developer paid all the costs to build it people have been paying their taxes and the idea was they pay their taxes and then the government would fix this road.

the cost was $3.00 and $54000.00 to fix that road we has a question ok based on the taxes the cities collecting from these people alone is going to take them to recoup the money they just spent. dancer 79 years. as an engineer i knew the road was going to last 2025 years this doesn't make any sense the growth creates what we call the illusion of wealth if you lose money on every transaction you don't make it up in volume. where we accidentally. were like way out here. you can look at the run up to the housing crash as a prime example everybody felt like well we're doing ok because you know yeah i made $12000.00 housing payments but my house went up by 40000 i cashed out the difference i'm doing fine here's centrally security. around the core problem which

is that the underlying economy does not work. in 2000 we had 1100 census tracks in this country that year classified as persistent poverty in 2010 it went from 1100 census tracks to 3300 census tracks 3 times the american geography is now in persistent poverty. our places don't work they're just designed to decline. if you don't know what was lost. you don't look at the place and see like this is decline. 143 if you're 10 years 20 years 30 years older than me all you see is wounds. and so it's really hard for you to get your mind out of that and actually see how this could be a better place. now we have it all off guard and so we made it right i don't know maybe the middle east is heartbreaking the midwest is

heartbreaking of all the places this is one of the last ones i live in but it's home and i you know there's a part of me that loves it too like i look at it and i'm like i want to help this place i want to make it a moving little google street if you go yeah. that was that's our show and elysium and that's our. show up after another yeah i know. i'm educated enough to to know that i shouldn't talk about some things because i'm i'm i realize how ignorant i am i mean i grew up in a city that is 99 percent white and probably still is very close to that. but when you start to get a mixing of people in the community the other start to move in whether the other is someone of a different race or someone of a different social class i think excite colleges is that there's a natural human to. and incident sets like circle the wagons and what zoning did is

again like this really wonderful tool to be able to write in a more camouflaged kind of racist way we don't want those people here. think the irony today is that it's also now trapped for white people their mechanics say as you go to argue that they did out of 4 new break lads. what is the other going to do that whenever they for $40.00 you know these are the last isn't a dinner and if it's not a refrigerator margaret if. you've got a guy who. you know cream abdul-jabbar said the hyper problem we had today is less race than it is poverty and i think use exactly right i mean there's a racial element to it but. middle class whites will sacrifice poor whites too there's no racial loyalty there they're going to kick them to the curb. been able

to travel around the country to experience different communities it's the same it's the same thing. so you see across the rust belt and you see across rural america people struggling and those struggles are kind of shared struggles with people in urban areas that have long been left behind. when you find that you can no longer get the mortgage week you can no longer cash out the equity when you can no longer get a car loan for the new car your world changes and your experience changes and america becomes like a really cruel place. we're starting to see more and more that is a mainstream experience. when even the 10 year and nobody out. you can create a social contract and make tons of promises. we now live in the day when those

promises are coming to you. and that's not a laughter right thing. kind of transcends left and right because neither side understands that they both want to go back to what they thought worked. and didn't work. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics small business i'm show business i'll see that. there is a saying in washington don't let the perfect be the enemy of the good this appropriately describes the political warfare another stimulus package and to center of this standoff is who wins for loses just prior to the election in the meantime tens of millions are suffering with no end in sight.

secret prisons are not usually what comes to mind when thinking about europe however he even the most prosperous can be deceived within this 0 song there were 2 view houses were. prison was located and only people had access to the story investigators sure l.z. uncovered the darkest dealings of the secret services but i mean. you graded nor been. going for justice.

the way that has been written. between 152100000. people feeling like they have control over the systems of their lines.

not only this but they are both. that. we will build together court coming to when we build it it will be out. for coming to. the heart of a new world headquarters for under armor an opportunity for all aboard. the. baltimore city council put the stamp of approval on the $660000000.00 for the forthcoming to. affordable housing jobs in exchange for the investment. community definition of. making about $70000.00 per year. just can't build a community with people this. is not our.

neighborhoods this. reading structure to teach. today. and start to understand in. politics a low in more and at the same time i started getting really big and black history. about the things that america had done to us step even best spectacular bout's we readily recognize that is about right but we don't recognize what.

we already know as living people in environments where we don't have. a desk. baltimore city. i was sitting here in mind this watching the police in the children interact on the day of april 27th 2015. the children were dora rocks the police dora rocks back at the children in a vision the police you know they're shooting were bullets and they deployed teargas and at the moment they deplore that teargas i'm sitting here and i feel like this weight come right on my chest and i'm like i can't breathe i can watch it anymore because i knew it was causing some sort of physiological reaction in my body. it really was a. powerful political turning point because everybody when overdraft or food everybody went into drawing themselves into activism and nonprofit work and

voluntourism. so just let's. talk about here so that's all that's all you know we need. exercise even the president you think he's likely to be with the wrong party. if. you don't think i'm originally from graeme out the remote area to me that small section of the neighborhood is everything because there's a certain level of pain you've got to go through to be really from bottom. when you really from a neighborhood that has a reputation you get was known as a stand. my little you know. it's only. 2 digits. so it's really. you know to be connected to a neighborhood. but people outside of street don't understand all of this stuff is

about legacy. you don't really know where we come from we don't know our families so. you put your all into band. is really the only industry that we run we think we were going to say so from. your name what is your name and what kind of name you want to leave for your children. for that's the name of allah for me. anyway i want to bottom when i have a problem because all my followers but because i'm not history do but i still carry those morals. in a city. block i'm trying to tell you. i have a lot of people just by giving them places to stay and what i know how to do. i know too much about real estate to get them into these homes. as.

we. have seen so much. from when i was young. and it's dangerous. and. you know. people who've been here have been. beaten up and it's so much. you've got to be manic the feeling of hopelessness any kind of manifested itself into hate so when you get out attorney to display your anger. it goes way beyond anybody to think.

the 3. guys are just at the c.v.s. bar. take it. let's not. go. as long. with.

someone to stop it right here i just wanted you to see this piece 1st i want to do something else and to. a young man was poking the waterholes most a pocket knife. why i want you to know that see i'm right there. right damn. it 21 we know. is 25 and he was trying to give me more time than i had been on earth. he was scary but it was eerily familiar because it felt like no matter what i accomplished in my life being the 1st person to go to college graduate school i felt like i was supposed to be there it's kind of hard for you to take this stuff that we see here and translate it into the humanity of it as

a person. a 1000000 got a $1000000.00 in restitution. $100.00 and that is $10000.00 less anybody i know anybody had to live $10000.00 less and that can lead a city to my recitation pay. well he. can't unilaterally you said he said it's sort of presentation pay these in a struggle they don't make the news these are the differences that make. people like myself turn off from everybody just self. you know what i mean because everybody has a shoe. when people make the claim of you know why would people burn down their own neighborhoods but then you sort of live statement to sort of gloss over the fate that new used labor has don't have this need to begin with. the one with the burned on their own community i mean it really isn't a community that they've been able to have ownership is. don't

push me cause close to the black community and close to that is it and i think that is sort of why we see some of the prism you see that. happen may begin to understand the black lives matter but black lives don't matter if black neighborhoods don't matter. i came back yes subsequently when i was a police officer. and it was all bricked up all the windows to dois. choice property now the. chance of 5. gentrification i suppose on one hand is a good thing for you cleaned up the neighborhood it makes it nice but my heart goes out to the people who once lived here who got moved out because when those poor people go you know they were forced out enabled by their homes are gone.

if we as a country don't pay attention to. the places where people are the homes. that people. will continue to go in circles and that really get to the root problem. when you look at a rain forest home you're seeing a very complex ecosystem. not only do you have these massive trees but you have all the understory all the animals every do leaf has its own individual ecosystem so when you add up all that you have this massive massive complex and if. you compare that to say a cornfield. you have one species of plant the complete monoculture. and what you see is a very efficient undertaking a lot of corn in a very small space but you certainly don't have the complexity and the ability to thrive than a rain forest. so what we did is we switch cities from being complex

systems to. you look back in history and the way humans evolved along with the city. and what you see is that messiness that friction that rubbing up against other people is an essential component. and there was a certain discomfort that went along with that there was also a social dimension to it that we've just completely lost. this pattern of development has allowed us to. intentionally enrich the pain and hurt in the needs that call long and in all our places.

the world is driven by dream shaped by.

the day or thinks. we fear to ask. this single greatest most important aspect of any functioning society is price discovery price discovery more so than any moral or aesthetic or ethical. kind of set of rules because without sound money without some price discovery you don't have a society full stop. you know what i mean you get there see i don't think about it at all many roman not new dorp or. i kind of but i wonder. if they now want think it's have enough.

members of the african mafia is safe and quick passage to europe but once they. leave they count speech util. will not some of the lead be a mom and i couldn't you know. this you need to get it out in. the cheek with. the soul of the. lady. of the. because the persona that a kid again. there are more millennial.

france vows to take on islamic radicalism after the horrific killing of a history teacher but average muslims fear they will bear the brunt of the government's response. the fear that you know i would have to maybe be careful or fall for what they forsook i might flee the whole speech as a human rights activist these are literally all the brightest and integration issues that elsewhere in europe a lebanese man is denied german citizenship over his refusal to shake hands with a woman discrimination or a justified request instead. with a clear signal that he still lives here to a totally different value system. the one which is established in germany this is a cultural and business office and the leadership.