There is a growing international understanding that cities have become too expensive for the people who live and work in them. It is an affliction across the United States, but also around the world as well. Just take some recent coverage of the issue:
- Vancouver has been one target lately, with home prices rising to an average of C$1.3 million. Unsurprisingly, many workers are leaving, decamping for other nearby cities in a bid to try to lower their housing bills.
- London has experienced an almost apocalyptic increase in housing prices, driven by Russian and other oligarchs moving huge dollars into the city’s real estate market. Rowan Moore shows in his book Slow Burn City just what the cost of that situation has