Urban Studies and Planning Commons^™

The Housing Crisis And The Rise Of The Real Estate State, Samuel Stein

Publications and Research

This article — an excerpt from my book, Capital City, with elaborations on a number of key points — argues that the housing crises endemic to contemporary capitalism must be understood as a result of the concentration of global capital into real estate and the the re-orientation of state planning capacities around the demands of the real estate industry. The first half of the article explains the dimensions of the crisis in the US and the rise of "the real estate state." The second half explores policy alternatives to contemporary urban neoliberalism and the kinds of movements necessary to …

Do You Believe In Ghost Apartments?, Michael Lewyn

Scholarly Works

According to the popular press, expensive cities are being overrun by "ghost apartments"- condominiums owned by wealthy foreigners, but used as investments rather than being rented out to local residents. This article points out that such apartments are in fact a very small percentage of housing supply, even in some cities that are supposedly overran with such condos.More importantly, the existence of new “ghost apartments” does not justify exclusionary zoning policies. If a city popular with foreign investors discourages construction of new housing, investors are likely to purchase older housing units, outbidding local residents for those units. In this scenario, …

Do You Believe In Ghost Apartments?, Michael Lewyn

Michael E Lewyn