March 30, 2023: Capital City: Gentrification and the Real Estate State
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 its 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 Steins 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.