Housing Booms in Gateway Cities

An insightful and accessible discussion of the housing price boom in gateway cities.
* Delivers a detailed exploration of housing markets in Hong Kong, Singapore, Sydney, Vancouver, and London and explains why these gateway cities have seen dramatic increases in residential real estate prices since the 1980s
* Describes how the globalization of real estate has rapidly inflated demand and uncoupled local housing prices from local wages, causing acute problems of affordability, availability, and inequality
* Implicates government policy in massive real estate price inflation, describing a shift from welfare-based to asset-based societies
* Highlights the relatively unique experience in Singapore, where asset-based housing policy has encouraged the dispersion of ownership and accumulation through an increased supply of subsidized leasehold apartments and the regulation of disruptive investment flows
* An innovative treatment of housing as a central category in wealth accumulation in urban economies and societies