Berlin’s spatial dynamics and organized working class show how to secure liveable spaces and combat the financial nature of housing: socialize them.
Over the last few decades, housing in cities around the world has undergone unprecedented financialization and artificial speculation. Investors have never been richer. The worldwide value of the current real estate market is $217 trillion, 36 times worth the value of all the gold ever mined.
Profits from the commodification of the housing market have skyrocketed in step with the enclosure of spaces and the fixing of financial value to them. Living spaces are now complex financial products that can be packaged up into investment funds and swapped by companies across the world. [Read More]