What is it about?
This study analyzes data on the real estate market in Mexico City over the last two decades, where we found that the price of an average home has quadrupled, reducing the expectations of new generations to own a home and also driving up prices in various areas of the city.
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Why is it important?
Our research, conducted from 2000 to 2022, reveals a significant surge in housing expenses attributed to gentrification in Mexico City, particularly in areas like Polanco. This surge has rendered homes financially out of reach for many residents, with prices experiencing a fourfold increase that outpaces income growth, resulting in the emergence of exclusive and expensive neighborhoods. This pattern, influenced by policy and land management decisions, exacerbates socio-economic disparities, underscoring the necessity for inclusive housing policies.
Perspectives
This situation underscores the immediate need for innovative solutions to ensure fair housing access, prevent involuntary displacements, and preserve the diverse and vibrant community fabric of the city. It emphasizes the call for a collaborative effort to promote fairness and sustainability in urban living.
ALFONSO VALENZUELA AGUILERA
Universidad Autonoma del Estado de Morelos
Read the Original
This page is a summary of: Gentrification and access to housing in Mexico City during 2000 to 2022, Proceedings of the National Academy of Sciences, February 2024, Proceedings of the National Academy of Sciences,
DOI: 10.1073/pnas.2314455121.
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