Capital City: Gentrification and the Real Estate State [Paperback]

“This superbly succinct and incisive book” on urban planning and real estate argues gentrification isn’t driven by latte-sipping hipsters—but is engineered by the capitalist state (Michael Sorkin, author of All Over the Map)

Our cities are changing. Around the world, more and more money is being invested in buildings and land. Real estate is now a $217 trillion dollar industry, worth thirty-six times the value of all the gold ever mined. It forms sixty percent of global assets, and one of the most powerful people in the world—the former president of the United States—made his name as a landlord and developer.

Samuel Stein shows that this explosive transformation of urban life and politics has been driven not only by the tastes of wealthy newcomers, but by the state-driven process of urban planning. Planning agencies provide a unique window into the ways the state uses and is used by capital, and the means by which urban renovations are translated into rising real estate values and rising rents.

Capital City explains the role of planners in the real estate state, as well as the remarkable power of planning to reclaim urban life.“Stein’s lucid explanation for how we got to where we’re at shines urgent light on the origins and development of what he incisively calls ‘the Real Estate State.’ Capital City places gentrification in a structurally extensive and intensive urban geography of dispossession. All who struggle for the right to the city should read this book, and realize afresh how capitalism saving capitalism from capitalism must provoke our political imagination.”
—Ruth Wilson Gilmore, author of Golden Gulag