The Rent's Too Damned High: 15,000 words on the ways real-estate speculation and inequality have killed NYC

Harper's has published The Death of a Once Great City, Kevin Baker's beautifully written, 15,000 word, non-comprehensive list of all the ways that raising the rents in New York City (something that was enabled by the related phenomena of the increasing wealth of the global rich and the influence of property developers on New York City's planning) has squeezed all the juice out of the city, evicting its people and its businesses in favor of "land banked" condos and co-op units that serve as "an investment, a pied-à-terre, a bolt-hole, a strongbox" -- and whose only viable retail is chain pharmacies and ATMs. (more…)

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