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LPE Originals

Property Commodification as a Municipal Strategy, Property Tax Reform as an Imperative

Hyper-commodified property – imbued with value by public infrastructure, developed at its “highest and best use” from an income generation perspective, and then taxed – is in theory a boon for municipal governments. In reality, urban fiscal and land use policies become caught up in cycles of price appreciation and rent-seeking. To reverse this spiral, municipal leaders must both reform currently regressive property taxation regimes and implement tax policies that expressly curb rent-seeking and speculation.

LPE Originals

Collateral Cities

Under financialized capitalism, corporate investors value homes not solely or primarily for rental income, or even as assets that can be bought and sold—but rather because they serve as collateral. Three episodes of institutional change in housing markets underscore the importance of not only decommodifying land and housing, but decollateralizing it.