Japan, Europe, [and] America Probably [are] Better

If You Look At Detroit, That Mayor, It's Been A Train Wreck For 40 Years, The Population Has Gone From 2 Million To 700,000. This Mayor Comes In, And He Talked About Streetlights, Sanitation, Jobs, Policing, Schools, Affordable Housing. He's Doing It All, And It's Growing For The First Time In 30 Years. Literally, One Man. But That One Man Couldn't Do It Without Business. And Business Couldn't Have Done It Without A Political Environment Where They Wanted To Improve Things. If You Had An Antibusiness Environment There, It Would Still Be Down There.

The United States Has The Best, Deepest, Widest, And Most Transparent Capital Markets In The World Which Give You, The Investor, The Ability To Buy And Sell Large Amounts At Very Cheap Prices. That Is A Good Thing.

The Real Story In Housing Will Be A Recovery In The Economy That Will Drive A Recovery In Housing, When People Are Working, When There Are More Jobs, More Households Forming And People Go Back To Buying Cars, They're Going To Want Their Apartments And Homes. And That's When You'll Start To See A Recovery In Home Prices.

But In General, As Countries Get Wealthier, There's Going To Be More Savings, Which Means You're Going To Have Intermediation. So Part Of It Is Just The Huge Growth In Wealth, And Part Of It Was Globalization - These Companies, These Clients Getting Much Bigger And Much More Global.

The Government Has The Right To Change Laws And Rules And Regulations.