Max Mishler’s interview with with Samuel Stein, author of the book Capital City: Gentrification and the Real Estate State (Verso, 2019), is part of the “(In)Security in the Time of COVID-19” series. Read the rest of the series, including a post contextualizing this interview, here.
Max Mishler: Hi Sam. Thanks so much for taking the time to think with us about the connections between the Real Estate State, human vulnerability, the global Covid-19 pandemic. Let’s start off with a simple question: what is the real estate state and why do you think this is an important concept when trying to make sense of the relationship between financializing cities and gentrification?
SS: My addition of “the real estate state” to the lexicon is meant to be a contribution in the spirit of a number of such phrases meant to describe a fraction of the state that is aligned with a particular outcome, and thus also aligned with a fraction of capital and a fraction of labor. Think, for example, of “the carceral state” or “the welfare state” – two expressions of government that put the powers of the state toward a particular end, in alignment with a broader – and generally informal – political alliance.
In the case of the real estate state, I’m talking about the fraction of government that is aligned with real estate capital and the fragments of labor employed therein which seeks to use the tools of state power to increase land and property values. In other words, the real estate state is the part of the government that sees gentrification not as a problem, but as a sign of success. Continue reading