Paper Money, Paper Homes: How the Financialization of Housing Ruined Housing Policy

There is a global housing affordability crisis; the cost of housing has skyrocketed at rates that far outpace real wages. Using a Marxist lens, I look at the dynamics of commodification and financialization in a capitalist land market. My thesis argues that the existence of a profit motive undermines the potential for affordability to be prioritized. Financialization specifically has entrenched and intensified this process of ‘housing-for-investment’ over ‘housing-for-shelter’. My thesis explores modern political solutions to this crisis, performing a comparative analysis of inclusionary zoning by-laws introduced in Toronto and New York City. This analysis dissects how capitalist-oriented housing affordability policies are structurally bound to the same dynamics of profit-over-people; thus, they can never produce affordable housing. Alternatively, I propose a series of non-reformist reforms and radical political approaches to decommodify housing and remove its tender from the private market altogether.

Author dc:creator

• Giblon, Melissa Ruth

Advisor dc:contributor.advisor

• Kipfer, Stefan Andreas

• Geography
• Urban planning

Statement dc:rights

• Author owns copyright, except where explicitly noted. Please contact the author directly with licensing requests.

Language dc:language

en

Handle dc:identifier.uri

https://hdl.handle.net/10315/41674

OAI identifier oai:identifier

oai:yorkspace.library.yorku.ca:10315/41674