Housing Booms in Gateway Cities

Housing Booms in Gateway Cities is a book by David Ley that examines the development of housing booms and policies intended to stimulate or limit them in five gateway cities. It provides a comparative approach and offers a superb understanding of the politics of booms, lifting the debate beyond narrow housing and real estate studies. The book is required reading for anyone interested in global cities, housing markets, or comparative urbanism. It explores the importance of placing urban housing theoretically and provides fresh and inspiring explanations of both common global logics and diverse local trajectories of housing booms.

Format: Hardback
Length: 336 pages
Publication date: 10 August 2023
Publisher: John Wiley & Sons Inc

The book employs a comparative approach, examining the policies and factors that have contributed to these housing booms. Ley highlights the political dimensions of these booms, emphasizing how they have shaped urban landscapes, influenced social inequality, and impacted government policies.

One of the key themes of the book is the role of financialization in driving housing booms. Ley argues that the increasing importance of real estate as an asset class has led to a surge in investment in residential properties, driven by factors such as low interest rates, globalization, and urbanization. This has resulted in a shortage of affordable housing, particularly for low-income households, and has contributed to rising housing prices and homelessness.

Ley also examines the diverse local trajectories of housing booms in each gateway city. He highlights the unique factors that have contributed to these booms, such as economic development, government policies, and demographic changes. For example, in Hong Kong, the housing boom was driven by the influx of immigrants and the government's policy of encouraging homeownership. In Singapore, the boom was fueled by foreign investment and the city's status as a financial hub.

The book also provides valuable insights into the social and economic consequences of housing booms. Ley argues that these booms have led to increased social inequality, as wealthier individuals have benefited from rising housing prices, while lower-income households have been left behind. This has contributed to the growth of urban slums and homelessness, particularly in cities where housing prices have skyrocketed.

In conclusion, Housing Booms in Gateway Cities is a comprehensive and insightful analysis of housing markets in five global cities. Dr. Ley's comparative approach provides a deep understanding of the political, economic, and social factors that have contributed to these housing booms, and his insights into the diverse local trajectories of these booms are valuable for policymakers and researchers alike. The book is a must-read for anyone interested in global cities, housing markets, or comparative urbanism.

Weight: 622g
Dimension: 158 x 239 x 26 (mm)
ISBN-13: 9781119853596