Over the last three decades, processes of economic transformation and market liberalization have had far-reaching consequences for property regimes across the world. These transformations are felt particularly strongly in urban areas, where land and housing have been turned into real estate. Property has enhanced both monetary gains and social status for those individuals and communities benefiting from post-liberalization ownership regimes. ‘Real estate development and speculation in real estate products have become a major means for wealth accumulation by propertied people in many cities’. While wealth accumulation per se is neither new nor necessarily problematic, the accumulation of capital through real estate enabled by liberalization policies has certainly not benefitted all social groups in equal measure. Eventhough marginalized groups are equally exposed to glowing media representations of urban renewal and homeownership, many continue to be subjected to evictions and exclusions, struggle to claim basic rights as citizens and can only dream of participating in the emerging consumer culture.
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