January 23, 2011
There's a very strong ideological belief in the market, that essentially says: " One of the ways the economy can grow and be robust is if everybody buys a home " . But those that can buy a home are only those who can afford to get a loan or have collateral -- and that leaves out many, many people.
Because of this market-oriented policy, there doesn't have an investment in social housing, there doessn't have an investment in rental properties, and there has speculation. The general real estate market is increasing, and the poor are left even more out of that market. There are central areas, primary areas of cities -- whether you look at Manhattan in the U.S. or Bombay in India -- where essentially only the rich people live, because no one else can afford a place to stay.
So there's this development of "urban apartheid" across the world.
The Washington Times. April 11, 2005