How do our expectations for the future act as key elements in housing systems and the rent-based political economies they support? The belief that housing prices will always go up, and that we need to buy while we still can, massively impacts local and national economies, from misallocated resources to market bubbles, whose devastating crashes ripple through our communities. Efforts to restabilize real-estate markets by modifying expectations and incentives, in the United States and elsewhere, have also had considerable unintended consequences. This discussion will focus on Hong Kong and China, with reference to North America as well.
Cosponsored by the Public Space Seminar in the Humanities.