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The transformation of housing into financial assets normalizes misery in the cities of the Americas

It is crucial to become aware of the advance of financial speculation on poor housing in the Americas, says Saskia Sassen, interviewed by José Zepeda for democraciaAbierta.

The transformation of housing into financial assets normalizes misery in the cities of the Americas
A view of Buenos Aires, Argentina, from the residential neighborhood of La Recoleta, in August 2020
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The face of this era is composed of the rapid development of information technology and the liquidity of capital. Saskia Sassen explains the emergence of global cities within this context. Large cities have become strategic places for global capital and migrant labor. Translocal communities and identities have been born. We’re facing the possibility that new forms of citizenship emerge from this reality. And even more so now, when the social consequences of the pandemic are already recognizable.

Saskia Sassen is of Dutch origin and has lived in Buenos Aires since her youth. She is a philosopher, sociologist and holds a Ph.D. in Political Science. She received the Prince of Asturias Award for Social Sciences in 2013. She is the author of numerous books, articles, and essays. Her works include The Global City, Expulsions: Brutality and Complexity in the Global Economy, and A Sociology of Globalization.

José Zepeda: Professor Sassen, it seems that global cities (and those that are not so global), have, in one way or another, transformed into accomplices of Coronavirus’ attack on the weakest sectors.