Radical Urban Planning Can Fight Gentrification With Affordable Housing

February 24, 2020                      By: Valerie Schloredt, YES! MAGAZINE

We tend to talk about gentrification as if it’s beyond our control, that replacing old urban houses with identical high-end condos is a law of nature. We sigh as historically Black, ethnically diverse, and immigrant communities are displaced, destroying social infrastructure that was built up over generations.

But it isn’t inevitable; it’s the result of decades of policies that reflect the power of wealth in shaping our urban landscapes. So why do city governments in the United States usually do such a poor job of balancing people’s rights with property rights?

Members of the Brooklyn Anti-Gentrification Network took took to the streets at Brooklyn's third borough-wide march 

against gentrification, racism and police violence on September 21, 2019, in New York City.  

Erik McGregor/Lightrocket Via Getty Images

Samuel Stein, a doctoral student at City University of New York whose work focuses on urban planning and gentrification, takes on that question in his well-received new book, Capital City: Gentrification and the Real Estate State (Verso, 2019). The answer has to do with money, history, and the economy. As North America deindustrialized from the mid-20th century on, capital began investing in land and buildings, “the literal and figurative space left by urban industrial flight.” Real estate is now a $217 trillion industry, Stein writes, forming 60% of global assets. We’re living in “a real estate state,” where real estate interests with capital to invest have undue influence in city planning decisions.................Read More.