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Abstract

The housing crisis is threatening 80 years of social and economic progress in rich nations. It is leading to reduced social mobility and a hardening of the divide between owners and renters, young and old, rich and poor, and regions too. It has slowed down geographic and labor mobility. It is the single greatest threat to our social and economic stability and is closely linked to rising populism. The housing crisis is creating a society of inherited wealth, or ‘inheritocracy.’

Prof. Timothy B. Smith, Dept. of History, ºÚÁϳԹÏ×ÊÔ´. Author of France in Crisis and professor of Modern European history and comparative public policy.