Description
San Diego has become the most beautiful place where nobody can afford to live because speculative growth drives housing prices regardless of the level of supply or demand. How this happened in San Diego County is fairly clear. Marx explained that ground rents (and thereby land prices) increase when capital and labor are invested in the most valuable land and when investment is intensive, with vast amounts of labor and capital focused on the high yield properties to the virtual exclusion of less productive or less valuable lands. In fact, speculative growth between 1960 and 1980 conformed to what Marx identified as the ideal case for speculative growth in land prices. The speculative growth of housing inspired environmental, tax revolt, and nogrowth movements, but the demand for affordable housing was short lived and of limited impact. Nevertheless, there is no reason why land in San Diego must be overpriced, except for the desire to profit from speculation in land use futures. Q10.. Liistt off keyworrds ((10 maxiimum)) suburban sprawl, San Diego suburbs Q11.. Addiittiionall autthorr iinfforrmattiion:: Naamee ((
Start Date
11-2019
Document Type
Presentation
Keywords
Growth, Sprawl, and the Contradictions of Capitalism: San Diego Suburbs and the Speculative Frenzy, 1970-1991
Session List
Presentation
Growth, Sprawl, and the Contradictions of Capitalism: San Diego Suburbs and the Speculative Frenzy, 1970-1991
San Diego has become the most beautiful place where nobody can afford to live because speculative growth drives housing prices regardless of the level of supply or demand. How this happened in San Diego County is fairly clear. Marx explained that ground rents (and thereby land prices) increase when capital and labor are invested in the most valuable land and when investment is intensive, with vast amounts of labor and capital focused on the high yield properties to the virtual exclusion of less productive or less valuable lands. In fact, speculative growth between 1960 and 1980 conformed to what Marx identified as the ideal case for speculative growth in land prices. The speculative growth of housing inspired environmental, tax revolt, and nogrowth movements, but the demand for affordable housing was short lived and of limited impact. Nevertheless, there is no reason why land in San Diego must be overpriced, except for the desire to profit from speculation in land use futures. Q10.. Liistt off keyworrds ((10 maxiimum)) suburban sprawl, San Diego suburbs Q11.. Addiittiionall autthorr iinfforrmattiion:: Naamee ((