Urban Housing in an Era of Global Capital

Abstract

U.S. cities have become increasingly bound into a global system in the decades since World War II. Of primary importance for urban housing are the implications of this system for the flow of residential capital, and the effects of a global labor market on U.S. wages and incomes. Globalization has overlaid issues of liquidity and new forms of financial investment on an already difficult housing situation for older manufacturing cities. Using Philadelphia as an example, issues of abandonment, affordability, and homelessness are discussed as they reflect the effects of a global urban system. The conclusion seeks to reorient discussions of local housing policy in this global context.