Michael Blastland

speaker
745 appearances 4 recordings 1 series first heard Mar 2011 last heard Aug 2011

Michael Blastland’s voice in public audio — every appearance, attributed to the second.

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In recent years, economics has looked increasingly to experimental studies of behaviour and to psychology.
That's where we turn next week.
One last trip in Chicago before we go, with the real estate agent Mabel Guzman, to see the human cause and effect in the global system.
We're heading to the city's southwest side, where a property that might have fetched $175,000 a few years ago is today worth $75,000.
60% of its value wiped out.
This is subprime country.
Where are we now?
What are we looking at?
So we've got three pretty substantial family homes here.
What strikes me is this is not a poor neighborhood.
You've been down on the Gulf Coast.
And you've seen physical damage there.
But how do you compare these two?
What strikes you about the contrast between these two kinds of property damage, if you will?
We've got houses boarded up.
They stand here like broken teeth.
A sense of a community fraying at the edges and behind all these doors.
People who've got into these situations through goodness knows what kind of human mess and muddle.
Optimism, overambition maybe.
Just the belief that they have to behave as everybody else behaves in buying a house.
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