Has Wall Street Created Another Housing Crisis?

[@AnimalLover4171]

i heard that we never got out completely of the recession.

[@macioluko9484]

I heard the "powers" have not changed anything about their approach. This next bust will be 10 times worse.

[@victoriacorcoran1258]

As an Australian watching, my thoughts are you could not make this stuff up. Absolute insanity watching these homes with heaps of character being bulldozed. With a population so huge and seeing the odds stacked against them in this way is utter madness.

[@califtom]

They don't have a choice. America has some of the most draconian zoning and environmental laws of any country in the world. When you combine that with the mass immigration policies this country has adopted over the last 30 years you get a housing shortage. Its easy to blame the Wall Street boogeyman but America's environmental and immigration policies are the real cause of this mess. I live in Minnesota and we are now experiencing a major housing shortage. The population of this state increased by nearly 1.5 million in the last 20 years while fewer than 300,000 new housing units were built in that same time period. That is a recipe for a housing disaster and you can't blame Wall Street for it.

[@Spaghetti_policy]

With the current political situation here the way it is, it will just get worse.

[@nicolle_2944]

Just wait till you see the housing crisis that will hit Sydney soon. Our over inflated properties have already started to tumble, then combine that with an interest rate rise and under employment. It has been propped up and inflated to insane levels by immigration and foreign ownership to avoid falling when it should have in the GFC. Our fall is not going to be easy.

[@fdseoulsandiego6514]

I'd like to take a minute to give thanks for the great contributions that the Black community has made to our society. First off is their peaceful and generous nature that make them ideal neighbors, lending testimony to their exceptional family values and parenting skills unrivaled by any other culture we know. I might add also their commitment to academic excellence enriches our schools and serves as an example to all who hope to achieve prominence as a people. And less we forget about the real estate values that are fueled by the mix of African Americans into an area due to their caring, kind, and respectful nature of these communities. This is an example of all they have achieved through their enthusiasm for self-improvement by hard work and a self-reliant can-do nature. Without their industrious and creative drive, we would be much poorer as a nation.

[@Inchonseoul]

Epiphany! thanks for the enlightenment.

[@majinvegeta7381]

Jokes on you.

[@SabbathSOG]

A home is not an asset.

[@Coffification]

+Truthsabre7 Exactly! People don't get that...

[@johnbenton4488]

+Truthsabre7 Truth be told, a home has never been an asset. All a home is is a money-pit. The only ones to profit from home ownership are the money-lenders and the lawyers who back them up.

[@Nick2007]

I’ve always said this. A home is NOT an asset, but a liability. It’s not even yours, it belongs to the bank. It’s an investment to the bank, NOT you.

[@Zapanath]

actually no it doesnt belong to the bank. it belongs to the government. u can pay off your mortgage free and clear but dont pay off your property taxes and see what happens

[@mohammadwasilliterate8037]

If a home isn't an asset why do banks offer far lower interest loans on them, dumbass.

[@MrTruth0teller]

Crappy Wooden Homes. I Never get why houses are made up of wood in US. House should be made by using Steel bar Reinforced concrete cement. Not some wooden tinder.

[@monkkeye]

wooden houses are warmer in winter cooler in summer. Wooden houses are easy to repair and will handle earthquake batter then concrete houses

[@SiliconBong]

+nawzy202 Coming from a country that suffered a decent quake a few years ago, I completely agree. The tough brick fortresses simply crumble like a dropped torro* house. *Torro was a cheaper lego but made from a stronger PVC type of emulsion and twice as nasty to step on !

[@davethomas543]

+bilbo baggins Go fuck yourself bilbo. Stick to adventures with your boyfriend Sam and stop making statements that show you do not know a thing about the subject of which you speak

[@SiliconBong]

+Dave Thomas Saruman, behave yourself !~!

[@numbereight886]

You are correct though, Britain has most of its housing near 100 yrs old, whereas wooden frame construction definitely has an end of life at around 80 yrs. Concrete construction etc can be made quake proof, but many places just go for the quick and dirt cheap approach... I'd certainly prefer concrete in a hurricane ally.

[@turboredcart]

A couple of big problems with buying a home for $1 from the city. 1- you must repair it up to code. 2- taxes are $2000 and more. 2k of tax is way too much on a house that is worth 20k

[@JasonCWaite]

This is one of my favorite documentaries as of late. VERY insightful. I'll probably watch again. Amazing. Lot's of deals to be had here soon. The crash crash still hasn't occurred yet, and is on it's way. :)

[@PricillaMac1]

Brilliantly done. Thank you

[@lazsatori]

Lavender and Ornamental trees! Please plant food plants! Fruit trees are easy and will make you food and $$ xoxo

[@socalsilver6397]

I grew up on East 65th and Norwood Avenue. Great neighborhoods In the 70s, when manufacturing jobs were plentiful. It’s really sad to see the state of these communities. We can thank Alan Greenspan and the federal reserve imo. 😕

[@Mr.Unacceptable]

13:00 There was regulations they decided to disregard the regulation.

[@macioluko9484]

Correct. There are regulations (bylaws) that require all of us not to litter, but go down any urban street and watch how this regulation is literally pissed on. Anyone can write regulation. It's the enforcement that's the tricky part.

[@joro9960]

5:54 "nineties and nounties"? 😂😂😂

[@csn6234]

I'm sure someone has heard you speak before and thought, "That dude sounds stupid."

[@dianefitzpatrick7774]

This is outrageous!! We've been here already. Prosecute & break- up these Banks. Enough alteady!!

[@califtom]

Go ask Venezuela how well thats working out for them....

[@hypehype1982]

Gee watching this in 2020 I can see this be like a drop I the ocean when this financial crisis comes around.

[@AvaT42]

I like that Tony Brancattelli. He cares about what he is doing.

[@evadesc]

America booming again? Based on what? Booming perhaps compared to a third world country. But seriously get real.

[@califtom]

If you live in a country like America and your life has degraded the point you live in your car it is due to your own bad decisions.

[@ruthpullis4977]

how. is it my fault. my i was making. 60 thousands. a year . my husband got sick and lost his job. we. lost everything. in n.j. living on my paycheck. it was shit. could. not pay the bills. live with friends. and family, a total. of. 4. live in a shelter. the move out of state. . still in the same boat. it a little better. but not much .i know. what. it. to live in a car. it not fun. but people. dont real lize . taxies. 4 times. a year. electric. water. gas. food. garbage pick. all costs money. if. you hand money. comming. in and one get sick or lose a job you are in trouble. and it happen. all over it sad people who do under stand it can. happen. to any body. it happen. to my family in 2008

[@califtom]

Ruth Pullis - You couldn't support two people and ended up living in a car on $60k a year?? My wife and I supported a family of 4 on far less than that. You are either terrible at managing money or are seriously incompetent. If your husband was sick and unable to work he would be eligible or SSDI. There are plenty of programs to assist homeless families all over this country. Stop blaming others for your own failures. If you were irresponsible with your finances and signed up for credit you weren't able to pay off its your OWN FAULT.

[@ruthpullis4977]

Thomas B west milford town ship. property. taxes. and this is cheap. 8982.00

[@robertmartinez8576]

evadesc when half Americans can not afford to buy a home or feed their famlies in America there is a problem and no one cares at all

[@pforce9]

I thought that Hillary told those wall street guys to "cut it out!!" So this could not be true, right?

[@EYTPS]

Hillary is funded by those Wall Street guys, so...

[@henrykingfire6236]

Awesome documentary

[@incognito7932]

WALL STREET! NOT Russia, Iran or China.

[@TheWormzerjr]

all flags with stars are on the same team. click my name to watch Son of Perdition part 4

[@csn6234]

@@TheWormzerjr Hello, Jesus. I saw you in another movie--a blockbuster, as a matter of fact. Perhaps you have heard of "The Passion of the Christ"? Anyway, not your best performance, bro. Just saying.

[@viciouslady1340]

Wow 16:25 what a beautiful bailiff her hair reminds me of a floral wreath.

[@RUSSIANREVIEW2010]

why not let homeless people have a roof?

[@chelsearudisill7312]

There are enough resources for everyone, but unfortunately never enough for the greedy plutocrats on top. It's morally repugnant the way we treat the most vulnerable in our country. We need an uprising. It's sad that so many have been brainwashed to punch down while never looking up at who's really screwing them.

[@androidrobot8809]

Chelsea Rudisill bullshit,if you are stupid enough to take predatory loans,you should also suffer the consequences. you should've been more financially and mathematically literate.

[@joannebarrett1639]

14:00..."Every man hunts his brother with a net, that they may successfully do evil with both hands--the prince asks for gifts, the judge seeks a bribe, and the great man utters his evil desire so they scheme together. The best is like a brier. The most upright is sharper than a thorn hedge..." Micah 7:2-4 Yahweh said it first. "If My people, who are called by My name, will humble themselves, turn from evil and pray, then I will heal their land." (I paraphrase)

[@talitakoomi]

I know I will catch flack for this, but I believe firmly that much of America's continual loss of manufacturing jobs has its roots in worker's unions. I am NOT anti-union; the uniting of workers in the 19th and 20th centuries did a great deal to improve wages, set reasonable hours and enforce safety standards in industrial America. They also got rid of child-labor practices and provided job protections and better benefits- all necessary and good. But after that......they went too far. Companies that would have rather kept their factories in the U.S. have been economically forced to leave because unions are demanding very high wages for their members. Maytag appliances were built in Iowa for decades, but when faced with union demands that workers be paid 40-60 dollars and hour to build their products- they could not afford it. They asked their employees to willingly take a wage of 21.00-25.00 an hour (and this was 10 years ago) the unions refused. Many workers were willing to take the cut in order to keep the company here, but because the union called the shots, they could not make their own choices. The factory went to Mexico- where workers are paid 12.00- 15.00 an hour, and because of this, the company was able to survive- but hundreds of Americans lost their jobs. Unions are also destroying our schools. Unions HATE the idea of our taxes going to the schools of our choice- i.e. COMPETITION- so we all have to keep dumping our tax dollars into failing public schools. If you send your kid to a GOOD school with excellent standards and great teachers- you get to pay twice; tuition and taxes. Most countries in Europe have a voucher like system wherein a family can decide for themselves where their tax money goes. The resulting competition has made ALL schools better because they have to compete for government tax revenue- and because NO ONE wants to support LOUSY schools, and teachers who can't be fired without a huge bureaucratic ordeal, designed by the unions to keep the teacher employed- regardless of how ineffective they are. Vouchers make sense in so many ways- but the NEA and other unions scream that taxes should NEVER go to support any school that provides any religious training to their students- even though parochial/religious schools turn out MANY more graduates who are well-prepared for the challenges of college and living a moral life than public schools could imagine. If you do not want your taxes going to a private, faith-based school- fine. You have that choice- send your taxes to the school you support! But let ME send my tax money to the schools who do the best job of teaching young people. The poor should be able to send their kids where they choose just like the rich routinely do- and they CAN if they are allowed to decide where their money should go. Unions have gone too far and are now WRECKING our country and hi-jacking our fundamental power to choose for ourselves. They had their time and purpose- but enough is enough.......time to take their bows and exit stage right.

[@decimusrex92]

talitakoomi What is wrecking America is that our government no longer represents everyone. Big business has systematically taken all representation and given it to the 1%. As one would expect business works on a simple premise, keep profits higher than costs, grow and destroy competition. Unions cost big business large sums of money. How can unions be disabled ? Pass legislation ( Right to work )in your favor, or pack up your manufacturing and send it to low wage countries. If you are just some regular guy and not a 1%er then you should be concerned as we watch the average wage decline or stagnate, hence the greatest wealth disparity since the great depression like now. Wishing to see more power shift to the ruling class is a spiraling problem that will become a tipping point to social revolution which maybe inevitable.

[@vfiel4111]

At least....we must sit down at the same 'table' and create remedies as we exchange our different opinions.

[@Mom_sBasement]

You could have narrowed that answer to ‘greed’.

[@gdurant]

November 2 when I got off work I was inside my apt and my friend had his car parked outside and someone broke the window out and stole all of the tools and clothes out of it and Ms. Erwin returned some tools back to him & paid him for the damages. On Nov. 12 my apt was broken into when I was at work and there was no forced entry so maybe a window but a tv, laptop, 2 tablets, 2 iPads, 2 iPhones, clothes, shoes, 5 coach purses, 4 Michael kors purses and misc. Paperwork was stolen and Jesse was outside when I got home.

[@LK-pc4sq]

no...the price of homes were significantly way above what the medium age could ever afford. it was a deck of cards ready to collapse. Now the housing is at a previous all time high...the madness needs to stop.

[@eudoraevans3340]

Nationwide. But there is hope. Keep fighting.

[@maramataniwha3225]

heart breaking stuff right here

[@philg6757]

Another great empire on it`s knees.

[@johnbenton4488]

+Phil G Not necessarily. All that has to happen is for people to stop valuing money more than lives.

[@dsnodgrass4843]

Interesting to see my own city in one of your films. I live on the East side, too, north of what you see. My house is worth 1/3 of what I paid for it in 2005. I've been before Judge Pianka as well, tho' I saved my situation at great effort and expense. The crisis has spread to the inner-ring suburbs as well, with no signs of stopping any time soon. While our city has had race-related problems in the past (and does now), this isn't necessarily one of them. That is the only aspect of your film which is not 100% accurate. I know just as many white families who were swamped by this mess as I do black and other families. One thing you'll learn about Clevelanders is, we're dogged and we're loyal, even in the face of constant defeat and privation. That's why we'll survive this, as we've survived everything else the last 40 years has thrown at us.

[@williamwilson6499]

Surprised they didn’t find a Cleveland Steamer in the Cleveland Double.

[@helsphoenix2623]

One set of landing gear on a fighter jet vs revitalizing a city. That sums up what is fundamentally wrong with America.

[@mvs3553]

why not use our military construction departments to assist the state.

[@clinicalpsychologistwannab7706]

Don't take predatory loans, it's that simple.

[@ECsponger2]

Another reason whyI NEVER want to own a house! Living is free!

[@riverdeep399]

11:32 Is he really wearing a denim rompa suit?? I wish you would revisit these stories for updates instead of plugging 17 year old films.

[@LiberaLib]

The nineties and noughties!

[@harmoneyreilly4225]

What a sad sad mess

[@yuprulesing]

Whoa for once a video it isn't just a trailer!!!

[@jackmeyer8451]

1:00 can’t make the payments, get out.

[@SemperAugustusBubble]

Why the fuck is the bank foreclosing on homes they don't even want? Seriously? That's just some evil shit.

[@ClarksonsinUSA]

+SemperAugustusBubble because they the homeowner agreed to pay a certain amount each month,and they did not meet the contract they signed...If you let one person not pay their mortgage ,and keep their house ....What about the person that makes their payments???????????

[@canubeleiveit]

Let homeless people move into them and fix them, but human greed won't allow that.

[@starlitopensky1]

The homes were overvalued.

[@SoapinTrucker]

And THIS is only a drop in a bucket of coming financial distractions to a me or you near you!

[@SophiesChoice01]

Love and miss you 💞

[@walkerlamock8334]

One word.....outsource.......,,to date Trump saved minimum 10,000 American jobs..& counting ! Creating thousands ! This is a daunting mess in our society,it's in our faces how close we all are to implosion..I'm not defending Trumps irregularities, however I'm given this guy a second look..nothing to loose,all to gain..🤕

[@Mr.Carter777]

End off day its people had choice "Take it or leave it"every single one of them jump in financial hole.Any mortgage more 5% its robbery.

[@johnbenton4488]

At a time when there are so many refugees and other homeless people on the lookout for somewhere to live, would it be possible to rent out some of these properties and build new communities? USA has done it before, why not do it again? Here is an opportunity for someone - or a group - to become legends.

[@turboredcart]

At the same time- being poor - there could be effort to keep it all sparkling clean

[@community1949]

Why is this man continuously harping on the fact that homes are built of wood? Of course most homes in the last 200 years have their frames and roofs built of wood. Why is this a surprise and what has that got to do with the fact that the mortgage loans were created to fool the hapless borrowers up the road. Always get a fixed mortgage, always. If you can't get that, don't buy because your payments will go up and up as times goes by.

[@ClarksonsinUSA]

Well I read any contracts I sign ,I suppose some people need a nanny for life............ But isn't being free,being able to make choices?????????????? Right or wrong??????????????

[@wendyshields6992]

doesn’t

[@tecomaman]

it was the banks fault and they lend money which they did not have ,the banks don't loose anything

[@SometimesInnocent]

APRIL 2016 ? _________________________________________ THIS IS ANCIENT

[@Skybar23]

does Cleveland have severe storms or hurricanes?..those houses look very brittle when they took it down

[@PRmoustache88]

The place just needs more free trade! ;) Just get the Tanspcific Partnership Treaty going, and just watch the place come to life again.

[@dickhamilton3517]

ha..ha.

[@MyPedorro]

Force the banks to pay

[@SusanLynn656]

Corporations are people my friends. The corporate bottom line of profits, profits, and more profits had most everything to do with the fall of the great old neighborhoods of Cleveland and other American cities. Follow the money folks. You've been duped into thinking this is a Democrats versus Republicans or Republicans versus Democrats duel. Wrong. Educate yourselves.

[@TheAdekrijger]

why dont they clean up their streets. simple way to improve lifestanderds and boost eachothers property value. but i know that most people living in those areas don't do the simple common good kinda things which make a neighbourhood a nice place to live. most people out their think they are screwed by the world and they can only survive through a gangster persona who ironically contributes to the overall shiteness and harshness of the neighbourhood. those communities yeah they sometimes get screwed over by the outside world because they are easy targets but by far most injury to these neighbourhoods is self-inflicted. And if they truly wanted to live in peace they would stop treating eachother like subhumans and maybe they could build an orderly functioning community. But I get it that isn't cool.

[@DigitalYojimbo]

14% wtf.

[@humanflag1922]

CLE

[@bigraf3178]

This video is a lie

[@jvolstad]

Do the banks force the buyer's to take the money?

[@georgewu5]

In my humble opinion, I think job opportunity is the question to every problem. George Wu, ARCHITECT, A.I.A., NCARB 2019-4-11

[@christopherbojorquez5127]

wow three words Federal Reserve Bank end the Fed Crypto currinences will end all fiat currencies.

[@Spaghetti_policy]

Capitalism Kills

[@bernadettekennedy2981]

Realtors are to blame. Speculating should be against the law and realtors should have to have degrees with ethics laws. They should not be able to sell homes to investors instead of homebuyers and should not be able to set rents or home values.

[@nickmattio3397]

I'm glad to know the next time I'll be in Cleveland, which will be Never, where all the best crack dens and crystal meth Forts are East Side Babay!!!!

[@ianhady]

shocking

[@AHHUAT2]

I am pretty sure the Afro-American community wants to be financially responsible for their obligation but as a whole they are no good at financial planning. So it's important for them to be educated to be financially responsible, not meant to be rude using that term. But they really have to start somewhere. Unless the model Asian community which has thousands of years in financial planning upbringing, like always save for rainy days and thrifty as a form of good behaviour for kids. All that goes a long way to be financially responsible adults and families. The Black community really need to change to catch up with the rest of America as a whole.

[@Acclamatar]

China has a housing crisis they literally have ghost cities. So much for good Asian savings practices. The Chinese people got robbed just we did.

[@joeldemars5881]

Girl on fire

[@svs8909]

hecho en chindia

[@sunlongsun2071]

look like burning legian destroy every civillization （：

[@svs8909]

crack ho neighborhood

[@wendyshields6992]

J👽

[@wendyshields6992]

😸😸😺

[@MrApplewine]

This is fascist propaganda that will lead to the next crash if you listen to it.

[@edwardmaxwell3951]

This is a great opportunity to bring in a human community that would stick it out in Cleveland: refugees. If government wants to solve both at once, it is possible if the facilitate the home ownership.

[@mohammadwasilliterate8037]

In Indonesia the houses are often worth more than Cleveland, lolz.