Miguel explains why landlords & global finance produce luxury housing and withhold housing from the market instead of actually addressing the housing crisis.
“The development of advanced speculative financial instruments is rapidly allowing the treatment of homes closer to pure exchange value in the global financial system. A house is just a commodity that can be accumulated and hedged for others in the pursuit of profit. Like many other derivatives or commodities, housing is a speculative instrument and this is its main purpose. Simply put, the housing of people is not its main business.” – Miguel Robles-Durán
This is a clip from S03 E05 of Cities After… The Problems with Supply and Demand in the Housing Market
Watch the full episode on our YouTube channel at https://youtu.be/drw75mdA9Ow
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Cities After… is a bi-weekly podcast about the future of cities; grounded in our daily urban struggles, it is part dystopian and part utopian. The intention is to entice civic imagination into action, because a more just and sustainable urban future is possible.
Miguel Robles-Durán is an urbanist with expertise in the design and analysis of complex urban systems and urban political-ecology. He is an associate professor of urbanism and director of the graduate urban programs at The New School / Parsons School of Design in New York City. Read his full bio on our website.
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