Housing Prices: A Downside to Global Cities

CHICAGO—Over 50% of the world’s population lives in cities, and experts predict that this percentage will increase to about 66% by 2050. This and many other challenges were addressed by urban planners, corporate executives, and non-profit leaders at this week’s inaugural Chicago Forum on Global Cities, hosted by The Chicago Council on Global Affairs and the Financial Times. And yesterday afternoon, at a panel on urban infrastructure, a group of experts grappled with how the world’s increased urbanization would affect housing prices, livability, aging infrastructure, transportation and many other issues.

Moderator Simon Kuper of the Financial Times pointed out that although global cities were successful in attracting new residents, most were also experiencing steep increases in the price of housing, and asked the panelists what could be done.