Publication

This paper chronicles the interplay of global and local economic forces and the political responses to them that have led to the loss of affordable housing near the central business district in Chicago. It looks at the changing role of local government, the local impact of globalization and the outlook for housing policy and gentrification under the changed circumstances. The authors conclude that financing for urban development is integrated into global capital markets and that the supply of these urban goods is determined by the returns these investments offer creditors seeking opportunities in a globally integrated market.