that's undercutting but what's good for markets it's not good for the global economy. for the benefit. i a standard of living for a country of. 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 this is not redemption among people follow . them bernardino recently came to 3rd california say the filed bankruptcy and like a homeowner who can walk away from a mortgage that's more than the house is worth a municipality. or live. if you come back to this property it's considered tresco did you ever think that this word could become 50 percent of your business no never would have to live. yes i found. the model

harms our world your ideology was not right to charge the. jar opener everyone needs one of those. snatched. the team. from the living room. i was 18 counting the counter. he count this to feed 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 running 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 out there isn't much.

december 2000 and. 900 square feet right across the street from the freeway. so we call it retro order. a vintage. lovely. you. are watching this video and your realtor. i represented the buyer when they hit a 1000000. i want to put you my tie down and. you don't deserve to be licensed december 2006. if you want. to get fired. i'm jim. there's a lot of trust marketplace 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 and 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 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 house.

everyone was going by the montra get in or you might get priced out forever because up to that point no one had seen any previous downturn just wasn't in the camera larry and nobody clinton realtors ever really thought a party is never going to end. i mean the thing about this is this is kind of i used to bill i was the engineer would design and layout build this stuff. i would work on these big development projects seize would come to us we want this done we got 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 or near 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 asked the question ok based on the taxes the cities collecting from these people how long is going to take them to me to get the money they just spent. the answer 79 years. as an engineer i knew that 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 at today.

were like way out here. you can look at the runup to the housing crash as a prime example everybody felt like we're doing ok because you know yeah i made 12000 dollars housing payments but my house went up by 40000 i cashed out the difference i'm doing fine here's centrally skirting 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 could classify 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 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 others 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 tendency to circle the wagons and what zoning did is a good 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. i think the irony today is that it's also now trapped for white people their mechanics say is you go to i didn't get it out is for new break lads. what is the other. thing for $40.00 you don't think that this was an advantage if it's not a refrigerator market. if.

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 that 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 cool place. starting to see more and more that is a mainstream experience how are you going to. win even the mission here and nobody else can even call it even. if. you can create a social contract to make tons of promises we now live in the day when those promises are coming to you. and that's not a left or right thing. kind of transcends left and right because neither side understands that they both want to go back to what they thought worked. it didn't work.

so what we've got to do is identify the threats that we have it's crazy foundation let it be an arms race. theory dramatic development only mostly i'm going to exist i don't see how that strategy will be successful very critical time to sit down and talk. always be polite never engage with a negative aided or confrontational also. don't get into any conversation or start answering questions just ask for an attorney. to survive and tear a geisha. definitely don't want to. jump on cops. you're more likely to walk free if you're rich and guilty or if you're poor and. you've got 2 eyes 2 ears and one mouth.

so you should be seen in here and a whole lot more than you're saying if you don't take that advice easy going to dig yourself a hole. make no certainly no borders to nationalities. as a murder we don't come with you we do a back seat world needs to be. judged as comedy classes to sentence. we can do better we should. everyone is contributing way but we also know that this crisis will not go on forever the challenges created the response has been so many good people are helping us. it makes us feel very proud that we are in it together.

the way it is being read. between 195-210-0000. people feeling like they have control over. the lines. are. not. a lot of fun. but.

not only this but they are. that. we will build together port covenant when we build it it will be ours for coming to a vision for the heart of a new world headquarters for under armor an opportunity for all of baltimore. mr. snipes baltimore city council put the stamp of approval on the $660000000.00 for the forthcoming project the developer guaranteed the city affordable housing jobs in exchange for the investments are intended to have a mixed income community their definition of affordable housing is affordable to families making about $70000.00 per year so what we're saying is just can't build a community with people who are this. is not our

goal but if only. those neighborhoods are the still inequality. in favor. and he. remembers you're creating structural disadvantage in our national marriage but we creating structural advantage in our white. desks where we are today. it was until i got older and start to understand in. politics i love him more and at the same time i started getting really big and black history and about the things that america had done to us of course shot step down a c.b.s. news desk tech will be readily recognize that is about right but we don't recognize

what. we already know as putting people in environments where they don't have. a desk. don't 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 thorax the police door 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 throwing themselves into activism and nonprofit work and

voluntourism. so this is let's. talk about here so that's. it is. part of this. agreement area to me that small section of a neighborhood is everything because a certain level of pain you got to go through to be really from baltimore and when you really from a neighborhood that has a reputation you get was known as a stand. my little stand you know. it's only for the last 2 digits. so it's really. you know to be connected to a neighborhood. where 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 or we think we were going to say so from their kids grow up on a bunny you name what is your name what kind of name you want to leave for your children. suffer that's the name of allah for me i could go anywhere i want to is bottom line i have a problem because all my followers but because i'm not history do but i still carry those morals i got a. block in a city. block i'm trying to tell you my help 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 will be my legacy as.

it was only families. who. have seen some of my shoe. you know it's a scene. from when i was young to name something that's not even to me and it's dangerous and the meat is an american speak and it. and then i think. you know said they need me to get again. people who've been here and have been. beaten up and tired of life is so much. to be managed. kind of manifested itself into. so when you go to the to display your anger. it goes way beyond anybody's i think.

the 3. guys are just at the c.b.s. bar. they. are. going to go. as long.

as. someone to stop it right here i just wanted you to see this piece 1st i want to do something else to sort of young man was poking the waterholes most a pocket knife. wow i want you to know that see i'm right there. right there. 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 us any time a recitation pay. while 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. you know what i mean because everybody has a seat. when people make the claim of you know why would people burn down their own neighborhood but then you sort of live statement to sort of gloss over the fate that news labor has don't have this need to begin with. we why would they burned on their own community i mean it really isn't

a community that they've been able to have ownership in. 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 doors. choice property now the. chance for 5 you know gentrification i suppose on one hand is a good thing for sure cleaned up the neighborhood it makes it nice but my heart goes out to the people who once lived here who got moved down because when those poor people go you know they were forced out enabled by their homes or god.

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. 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 the hurt in the needs that call on him in all our places.

i'm going to trust my friends. walk. across in progress bring a reviewer longer and you could start employing in the good things that the young.

person's wishes for were. not scott ph i'm not. the best local noise so. much that a stupid piece kid. in the future beginning with if i'm a u.s. astronaut and yet you naturally proceed. smooth things can boy get him. i still have. the faith that a. blog post looks all extremists all of which i don't know much. of that if you should be. able remove usually. deals in a store and for. me to pull be as nice. to each working with another you can be a. happy

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