Scientific American - 1 May 2017
This article about how climate change is now part of the gentrification story in Miami real estate gives us a taste of things to come. All coastal areas around the world will suffer the same fate, and it is the less affluent (in rich countries) and areas that don’t have the financial resources to adapt to rising waters (in poor countries) that will suffer. A rather long read (more than 10 min) but worth it! It introduces a new expression: “climate gentrification”.
Published in Weekly selection 5 May 2017
Quartz - 9 Sep 2015
Since 1950 the share of residential property value as a percentage of GDP has increased dramatically in European countries, but the phenomenon is global, driven by an increase in the demand for desirable locations - an inherently scarce commodity that pushes up the value of land. What ultimately determines the value of modern land is the incentive to locate close to other people, but this creates “externalities”. A possible solution, politically difficult, is to tax the value of locations. (reads in about 5 mn)
Published in Weekly selection 11 September 2015
Project Syndicate - 18 Sep 2014
Andrew and Xiao, both from the Fung Global Institute, argue that China’s ghost towns will merely prove to be “potholes on the path to development” and explain why they are not “harbingers of doom”. This is a powerful and must-read argument, especially for those, like us at The Monthly Barometer, who view the impending collapse of Chinese property prices as number one global economic risk.
Published in Weekly selection 20 September 2014