YNPN speech

We started Green Grass Real Estate because we don't want to compromise. We want to do good, and we want to sell real estate. Those two things aren't mutually exclusive.

Real estate is the largest vehicle for wealth in the world. Look around - wherever you go, whatever you do, you're standing on valuable real estate.

What creates value?

The price of the drinks in your hand is determined in part by the cost of the rent in this building. For those of you with a background in economics, you understand how the laws of supply and demand work - when demand is higher than supply, prices rise. When there is more need for space than there is space available, then the price of rent in this building rises - in theory.

Supply and demand for real estate is not that simple.

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Let's step back for a moment and take a quick lesson in Chicago real estate.

Imagine, if you will, a Chicago without condos.

Most of you probably know that Chicago was a mushy swampy outpost to rendez-vous with traders from the West and South coming up the Mississippi and over the plains. Boats shipped goods back up the St. Lawrence River and out to the world.

Prior to the Great Chicago Fire in 1871, Chicago's downtown was a ramshackle hodge-podge of storefronts and apartment buildings made of wood - nothing special.

What made Chicago great was its response to crisis. When the city burned and the leaders stood in the rubble, they decided that they would seize the opportunity to plan the country's best city.

Chicago's planners recognized the need for open green space as a destination for a somewhat natural experience in the heart of the city. Our parks and boulevards were designed to offer everyone an urban oasis from the grit and grime of city life.

Our city planners knew, even then, that Chicago could be the greenest city in North America.

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Buy the time of the Great Depression, Chicago had experienced unprecedented growth - from 500,000 to 3,300,000 in 50 years. The Depression, two World Wars and the New Deal legislation package led to major changes in the way that real estate was financed. VA loans made it possible for the first time for someone to buy a house without saving up money first. New federal highways, avid subdivision development, and the Ward & June Clever concept drove the baby boomers to the burbs.

Our parents, for most of us in this room.

Where did that leave our fair city?

Chicago lost over 800,000 in population from 1950 to 1990. Racial fears prompted many people into a panic mode, and a lack of community education and central planning pushed many areas into decline. Huge amounts of migration were taking place globally - waves of immigrants and minorities moved into the cities as the white flight to the suburbs took place.

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During the 70s, 80s, and 90s, artists, investors, and urban pioneers moved into the hood. Old Town, Lakeview, Roscoe Village, West Loop, South Loop, Bucktown, Wicker - those names have become synonymous with labradors and lattes, strollers and starbucks - yuppies and condos.

At the time, these neighborhoods were home to the poorest of the poor. Crime was everywhere - some good friends of mine moved into Wicker Park in [1989]. They're now an attorney and an engineer, but at the time he was a bouncer at a punk rock bar and she had a 12" mohawk and worked at Tower Records. They still have 2 enormous rottweilers - not the same ones, unfortunately - but the funny thing is, the same block that they wouldn't walk their dogs down after dark has a $4 million house on it now.

We all know the stories about people who bought houses in Lakeview for $20,000 that are now worth $2,000,000. But what about the folks they bought it from?

Every day, banks, politicians, lawyers and realtors make decisions that ultimately shape each and every one of our lives.

I challenge anyone in this room to explain to me how they are not a product of the community that they grew up in. Tell me how our neighborhoods do not shape our lives. I had a crazy neighbor across the street from me growing up who would ride his bike around with no rubber on the tires - just the bare rims - collecting pop cans. I used to take the blue line downtown to get to school from Oak Park and talked to homeless people sitting next to me. I am a Chicagoan, pure and simple.

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Mayor Daley has stated publicly and has demonstrated, at least in my opinion, a serious commitment to working to make Chicago the greenest city in North America within the next few years. Most experts consider us well on our way.

Chicago is poised upon the brink of a cultural revolution. It is my belief that we are in a very chaotic time right now on this planet. Economists are looking at a whole new world. In a recent discussion with an executive of Shore Bank, she and I agreed that very few people understand the current ways that currency is valued today.

The internet has changed the way that we live our lives. Technology has allowed us to telecommute, to travel more cheaply, and to spread information.

Likewise, banks are now more powerful than ever before. Huge, vast sums of money are exchanged as blips of 1s and 0s across wires. Every second of every minute of every day, billions and billions of dollars flow across the wires.

The real estate market is tied up in all of that.

Every rich person in the world owns real estate. Rich people will go through incredible lengths to make sure that they don't lose money.

Every market changes and shifts. There are many places right now that I would not encourage people on a low budget to buy today, because the value may not be there tomorrow.

Each person's purchase is different, though. Every property is as unique as the people who live there.

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It was our goal in starting this company to be a positive force for change in this world. We want to help people to understand how these forces converge, how they impact our lives, and how we can use them together to change the world. To make it better for all of the people who don't understand, who haven't gotten the education that we may have received, who didn't grow up in the neighborhoods that we did, and who will be displaced by gentrification.

Each and every day, we take strength knowing that there are good people in the world like you working to make a difference, and we want to help.

Green Grass Real Estate is the world's first sustainable real estate brokerage.

We believe that value in your purchase is based on more than what the neighbor paid when they bought theirs. The real estate market is shaped by the actions of its participants - and every single person lives, works, and plays somewhere. There is nothing more universal than the needs for food, love... and shelter.

This is our first edutainment party event. Our team has worked incredibly hard - we hope to inspire you, to inform you - and most of all - to let you know that it is possible for each and every person in this room to achieve their dreams.

Sit back, relax, and enjoy - thank you so much for coming, and don't forget to tip your bartenders and your servers very, very well.