Contesting the financialization of urban space: Community organizations and the struggle to preserve affordable rental housing in New York City

As cities have become both site and object of capital accumulation in a neoliberal political economy, the challenges to community practice aimed at creating, preserving, and improving affordable housing and neighborhoods have grown. Financial markets and actors are increasingly central to the workings of capitalism, transforming the meaning and significance of mortgage capital in local communities and redrawing the relationship between housing and urban inequality. This article addresses the integration of housing and financial markets through the case of "predatory equity," a wave of aggressive private equity investment in New York City's affordable rental sector during the mid-2000s real estate boom. I consider the potential for community organizations to develop innovative, effective, and progressive practices to contest the impact of predatory equity on affordable housing. Highlighting how organizations employed discursive and empirical tactics as well as tactics that reworked the sites, spaces, and structures of finance, this research speaks to the political possibility of contemporary community practice

The Business of Homelessness: Financial and Human Costs of the Shelter-Industrial Complex

This report is the product of a year-long investigation by Picture the Homeless's research committee into the fiscal policies and priorities that influence the lives of homeless New Yorkers. As the city's homeless shelter census has grown to a record high of over 60,000 people, the city has also seen its spending on shelter increase to an all-time high of over $1.8 billion, with an additional$650 million in capital funding allocated to upgrade and expand the shelter system in the next 10 years. By failing to create new units... the city is ensuring that shelter entry will continue at pace for the foreseeable future.