hi, who is their criminal and who was the and remember, those are some of the stories the shape the week. thanks very much the, the ah, me any people plan for and their lifetime. however, there is an income levels. i'm because the i watch want a minimalistic lifestyle. me what is causing this decline in home ownership and millennials? in 2016. the lowest rate in half a century and 30 increases for those already married with children. but also another factor in explaining the decline in home ownership at home is high at a medium price of $425.00 state, which is where most of the cost is from the marbles entitling. so you can actually

build a house on us depending on the location and the real estate value. that of real estate is putting a burden on the younger generation. many are who lives in a $375.00 square foot prefabs. a survey discovered that 86 percent of respondents were more your personal belongings. this is especially popular among move and ease of downsizing in their later years. many of the lighting and 4 panels, tiny homes are compact. these tiny homes all have completed kitchens, bathroom folded, attached to the foundation and utilities before it is red, cost and labor efficient to create homes in factories. turn these out effortlessly and less than half the time it takes to sir jason, which country still have quite a few social programs. countries of course have much more affordable housing,

housing, and eastern europe. housing can be very affordable if dramatically, by country and are there substituted u. k. the more developed countries, what he does, it seems like it makes housing more affordable, but a good and gets politicians elected. now, you know, as you would imagine, christie, the more or very expensive, of course, hong kong, very expensive, and it's in the u. s. s. case dollars. it might be the euro, whatever it is. we constructed hong kong shortage, ease, of course, the minimal as well. you know the difference and not that expensive overall. so but, but to answer your question more directly, the mic mansion trend that was largely a baby boomer trend. i think that one has faded as energy cost increase,

upkeep cost increase. i think you are going to see a lot less demand for mcmansions, especially as economic times get tougher and, and people become more conservative and more careful. and a lot of those mcmansions are built. right. so there's more than enough supply of big, giant oversize homes. and, and much more than people will need going forward in the future. obviously people aren't having children as much and demographics have changed. and so there's just a whole bunch of reasons that we have an oversupply of what they call mcmansions. yes, absolutely. and jason, is there a way to tackle the world's homeless problem, obviously a different country by country, but currently there is about a 150000000 homeless people in the world. so how can those problem ever gets solved? well, it's a bad,

a bad state of affairs for sure. and one of the things we need to do is look at it as a mental health problem because a lot of it is just really a mental health and a drug abuse problem. unfortunately. but beyond that, it's an overall economic problem of people that were formerly middle class or lower middle middle class. people who don't have savings and a couple of bad things happen in emergency happens a medical problem, a car repair problem, divorce, and they are on the street. maybe living in their car. so, you know, they're not homeless on the street, but they're living in a car and we're seeing that a lot more. unfortunately, one way to tackle the problem, other than fixing what i talked about already, is just to loosen up on the building regulations and the environmental regulations that make it harder and more expensive to build homes. we have reached

a point where it has become so expensive and so difficult for developers to build that. that is making housing just much more expensive than it needs to be. our homes today are constructed like tanks. i mean, i live in florida, and my home is unbelievably sturdy because it has all of the new hurricane codes. and most of that really is overkill. and it makes the cost of construction very, very high. you know, letting people build on more land, you know, not reserving so much land and not having such strict zoning requirements would make the market more accessible to more people. absolutely, thank you so much jason. jason will stick around because when we come back, china has a far different problem. when it comes to housing,

we'll have more after the break with a russian state full never. i've stayed on the north lansky with within the 55 when. okay, so 92000 speedy when else calls with we will van in the european union, the kremlin media machine, the state on russia today, and split ortiz sputnik given our video agency, roughly all brand on youtube with

me, i feel that focused on these are still working through the journey all developing an identity and national identity. there is a, you know, we talked earlier about the vibrant c and the dynamics of the media were all sorts of use and narratives have a chance to debate and come to the for. but that also has a downside in re thing is out for debate, so nothing is agreed ah the welcome back. we are discussing the cost of housing. meanwhile, over in china, they have quite a different problem. while they have no shortage of housing, citizens have bought these properties for speculation and investment purposes.

driving the cost a real estate up. i'm pricing out many of the low middle income citizens. china has around 65000000 homes standing empty in 2020, which to put it into perspective is enough to house the entire population of france . but while these apartments stand empty, most of them are actually owned. apartments are rapidly bought up by a homeowners who have no intention of moving in, but to use as an investment vehicle. the side effect has been the so called ghost cities in china. these are metropolises that have yet to come to life, as the property market deteriorates. some of the cities are yet to be completed, while others are fully functioning. but with very few residents and not enough tours to fill up the shopping malls. these home buyers believe that time is on their side and that these cities will fill out over time, and that the home values will just keep rising. however, china's house prices as

a property crisis, is made worse by the pandemic suites. the country home prices in 100 cities fell for the 6 months in a row in december. as developers are hit by liquidity squeezes, delaying the completion of many housing projects which further undermine fire confidence, china's housing regulators are struggling to re inflate the property bubble and keep housing supply and demand balance by making home prices stable and strictly curbing speculation. however, u. b, s group estimates that the chinese real estate crisis will cost the banking system as much as 1.5 trillion r and b on loans, bonds, and other assets. this will translate to a roughly $600.00 and a $2000000000.00 in housing activity erased. in europe, the real estate market has been struggling since 2022 on the back of the pandemic

disruption and energy crisis. increasing inflation and tightening financing conditions. swiftly rise. deuced home affordability at a time when home prices have already reached unsustainable levels. in many european countries, especially as higher energy prices and inflation, further roads disposable income. but even as europeans are being priced out of their home real estate market, more americans have been relocating to europe, driven by the rising cost of living, inflated health prices and the surging dollar back at home. italy, portugal, spain, grief and france have been the most popular destination with requests from americans looking to move to greece, rising, 40 percent in the summer of 2022 compared to the us. europe provides relatively cheap housing, particularly in smaller cities and towns. the rise of remote work has also made. a

more attractive, particularly to millennials who are priced out of the us housing market. in europe, the average sale price of a new residential property in the u. k. was the most expensive in 2021 at $4900.00 euros per square meter, followed by austria in norway and france. meanwhile, serbia had the lowest average sale price at $1520.00 euros per square meter, followed by portugal, lot via poland and croatia. that's compared with the us where the average cost per square meter would cost over $17000.00. and it's no wonder why so many are relocating to europe. and for more let's bring in again, jason hartman. so jason, what happened to the giant real estate corporation ever grant in china? what was the fall out from all of that? well, in one word, debt will happen to ever grant and you know,

the fall out continues. we will see how many of those buyers end up with completed homes or recover deposits. it does not look good. you know, to some extent, there was a sort of a version of a ponzi where, you know, companies being financed by people putting in deposits and so forth. but, you know, do debt in a cooling market and just being on the wrong side of everything. that old saying a rising tide floats all ships. well, you know, companies that don't make sense and are really dysfunctional. can sort of hide a lot of that in a market where you've got demographics growing in your favor and interest rates in your favor and the general market and economy in your favor. but when those things turn, they can become very,

very sensitive to any minor changes. and that's one of the things we see over and over again, not just with his company, but with lots of different companies. absolutely, and jason, the property market has contracted by as much as 7 percent year over year, causing it to become a significant drag on the chinese economy. how does this affect every day chinese citizens who actually spend a significant portion of their wells investing in these properties? you know, in china it's, it's very interesting because the market due to the one child policy in the past has become so really imbalanced in terms of males and females. and if a man wants to find a partner wants to find a wife in china, he has got to own a house. and, you know, we, we've all heard the stories of the chinese go cities and people buying houses they,

they never live in and so forth. but you know, china does, does not look good in terms of its demographics. it has a major demographic problem. and i don't think it can really recover from this. it's going to take a few more years for this to play out. but unfortunately, it will continue to be a drag, in my opinion, and with all the great stuff china has done over the past couple of decades, which have been truly amazing. no one would deny that it is now moving into a time where the population pyramid is demographers call. it is in balanced and there just aren't enough young people and the birth rate is so low. it has just completely crashed there, not enough young people to pay for older people. and that's what has to happen in every society. you have to have children to pay for the people who are aging out of

the workforce. and unfortunately, many countries have the same balance pyramid. it's not just china. japan is already experienced the head of china in this way, russia western europe. but china is coming right into that situation over the next few years. so how imbalanced and demographic affect the housing market and subsequently the economy and you don't think this downturn is nearing its end anytime soon. you think it's going to get much, much worse as the bubble burst over the next years. so right. oh yeah, i think it's going to get dramatically worse. china has had a great ride, but things have changed and, and it is, it is over largely now the, the saving grace could possibly be some great technological innovation. i mean, china is doing a lot of things right?

in terms of investing in infrastructure articles and those children take a long time to grow and fixable problem, you know, and unfortunately it has a multiplier effect. are going in the way that people are have there's not enough resources for the population growth, but it also has a reverse multiplier effect. and that's what we're experiencing now. so it's an untestable problem. thank you so much, jason, for joining us today. it's hard to say who the winners and losers are when the real estate economy very so drastically from country to country. but overall, it seems like the younger generation is losing as so many are price out of owning a home due to the rising cost of living. and wages not keeping up with inflation. rents are also rising faster than wages, making it hard for renters to save for a down payment. this means that more than 9000000 home buyers in america have been

priced out of the housing market. on the other hand, millennials also value mobility. so they shun against the traditional model of putting down routes to early on before they have established their careers. they are the primary drivers of the tiny homes trend which makes home ownership more affordable and offer unique experiences. they provide convenience and quality over size. and these tiny homes offer a nomadic lifestyle for and millennials working remotely. and as they view it as a new kind of rich where experiences are valued over material things. but while tiny homes are catching on, many still view this as a fad for one. a tiny home built on a trailer isn't real estate even if you own the land that it's parked on tiny homes on wheels or personal property. and like other personal property like cars and r v, they depreciate over time. real estate on the other hand usually appreciates over

time. and in the event that you want or need to sell your tiny home, finding a buyer won't be easy as a target audience is very nice. i'm christy. i thanks for watching. and we'll see you back here next time on the cost of everything. ah ah. for only one main thing is important, not as an internationally speaking to that is that nations that's allowed to do anything, all the mazda races, and then you have the minor nation. so all the slaves, americans, brock obama and others have had a concept of american exceptionalism. and international law exist as

long as it serves american interest. if it doesn't, it doesn't exist by turning those russians into this danger is boy man that wants to take over the world. that was a culture strategy. so some of it on your own, i not leashed off in zebulon and tablet block. nato took it out. we moved east. the reason us. hey jim, it is so dangerous. is it the law? the sovereignty of all the countries, the exceptionalism that america uses and its international war planning is one of the greatest threats to the populations of different nations. if nato disbanded shareholders in united states and elsewhere in lodge obs companies would lose millions of millions or is business and business is good. and that is the reality of what we're facing. which is fashion, with

a our staff with his claim to the presidential palace. and this do these capital call to make a 2nd day of heavy fighting between the power military group and the national army across the country, leaving at least 56 people killed and hunger for wounded. also ahead with ah, one civilian is killed and 7 wounded in don't yet, donkey ukrainian shells hit an orthodox church in the middle of an east. the service early on sunday and a warning the following images are distress a.