<\/p>\n\n\n\n
We are pleased to announce the publication of an article by Francesco Findeisen entitled “The Housing Crisis in Superstar Cities: Labour Markets, Price Inflation, and Financialization” in the European Journal of Sociology<\/em>.<\/p>\n\n\n\n <\/p>\n\n\n\n Abstract<\/strong><\/p>\n\n\n\n This article advances explanations of the housing crisis in modern political economies. It argues that the rise of agglomeration economies is driving the massive increase in housing prices in superstar cities. These concentrate high-paying jobs and life chances in central metropolitan areas, pulling in a highly skilled workforce who are willing and able to pay \u2018whatever it takes\u2019 for access to these opportunities. As a result, the value of homeownership in strategic urban locations has surged. Investors have thus found it rational to capitalize on longer-term price inflation and invest. Based on a comparison between New York City, London, Paris, and Berlin, this article demonstrates that housing prices in superstar cities move in lockstep with the reconfiguration of urban labour markets. Investors follow this trend in their decisions to invest in housing, which further compounds affordability pressures. The article concludes that access to homeownership in strategic urban locations increasingly mediates inequality and class formation in modern political economies.<\/p>\n\n\n\n <\/p>\n\n\n\n R\u00e9sum\u00e9<\/strong><\/p>\n\n\n\n Cet article propose des explications \u00e0 la crise du logement, observ\u00e9e dans les \u00e9conomies politiques modernes. Il affirme que l\u2019essor des \u00e9conomies d\u2019agglom\u00e9ration est le moteur de l\u2019inflation massive des prix du logement dans les villes dites \u00ab superstar \u00bb. Ces r\u00e9gions m\u00e9tropolitaines centrales, qui concentrent les emplois bien r\u00e9mun\u00e9r\u00e9s et offrent les meilleures am\u00e9nit\u00e9s urbaines, attirent une main d\u2019\u0153uvre hautement qualifi\u00e9e, pr\u00eate \u00e0 payer le prix fort pour y vivre. En cons\u00e9quence, la valeur des logements situ\u00e9s dans ces lieux strat\u00e9giques a significativement augment\u00e9. Les investisseurs cherchent donc \u00e0 tirer profit de cette augmentation des prix \u00e0 long terme et \u00e0 y investir. Bas\u00e9 sur une comparaison de New York, Londres, Paris et Berlin, cet article montre que les prix des logements dans les grandes villes \u00e9voluent en fonction de la reconfiguration des march\u00e9s du travail urbain. Les investisseurs suivent cette tendance dans leurs d\u00e9cisions d\u2019investir dans le logement, ce qui aggrave la pression sur la capacit\u00e9 des m\u00e9nages \u00e0 acc\u00e9der \u00e0 la propri\u00e9t\u00e9. L\u2019article conclut que l\u2019acc\u00e8s \u00e0 la propri\u00e9t\u00e9 dans les lieux urbains strat\u00e9giques est un facteur cl\u00e9 pour expliquer les in\u00e9galit\u00e9s et la formation des classes sociales dans les \u00e9conomies politiques modernes.<\/p>\n","protected":false},"excerpt":{"rendered":" We are pleased to announce the publication of an article by Francesco Findeisen entitled “The Housing Crisis in Superstar Cities: Labour Markets, Price Inflation, and Financialization” in the European Journal of Sociology. Abstract This article advances explanations of the housing crisis in modern political economies. It argues that the rise of agglomeration economies is driving the massive increase in housing prices in superstar cities. These concentrate high-paying jobs and life chances in central metropolitan areas, pulling in a highly skilled workforce who are willing and able to pay \u2018whatever it takes\u2019 for access to these opportunities. As a result, the [\u2026]<\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/posts\/945"}],"collection":[{"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/comments?post=945"}],"version-history":[{"count":3,"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/posts\/945\/revisions"}],"predecessor-version":[{"id":994,"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/posts\/945\/revisions\/994"}],"wp:attachment":[{"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/media?parent=945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/categories?post=945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sciencespo.fr\/research\/cities\/wp-json\/wp\/v2\/tags?post=945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}