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The cost of living in a city has skyrocketed. While wages have flatlined for most working-class people, rents have reached new highs, leaving most people struggling. And this, despite the economic costs of the pandemic. A one-bedroom apartment in San Francisco is over $3,200 a month. But it’s not just in the US. The rising cost of living is affected the entire world. But why does the cost of housing continue to spiral upward? Samuel Stein’s new book, Capital City and the Real Estate State highlights the growing influence of investment capital into land as the driving force behind gentrification and the power developers have over city and local governments. We talk to Samuel about the rise of the global real estate market and we talk about how radical city planning, rent control and socialized land projects can help fight gentrification.
Image Credit: Alliance for Californians for Community Empowerment Action
Image Caption: Elizabeth Hernandez and other tenants protest rent hike
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The Making Contact Team
Music Credits:
- Bio Unit – Steppe
- Bio Unit – Subterranean
- Blear Moon – Further Discovery
- Jonny Ripper – San Soucis
- Bio Unit – Industrial Zone
- Jim Hall – Wonderlust
- Crowander – Opening Lines
