A Critique of Neoliberal Urbanization and its Downsides on Housing Policies

This critical study examines the social consequences of neoliberal urbanism, with a focus on housing policies by implementing qualitative approach. The main goal of the study is to identify downsides of the neoliberalism in residential areas and shed light on the potential social challenges caused by this. After reviewing the existing literature in this field and introducing some cases, the findings highlight that the prioritization of market mechanisms in urban development, which is the key characteristic of neoliberalism, has led to unaffordable housing, gentrification, and displacement of marginalized communities, exacerbating socio-economic inequalities. The commodification of housing under neoliberal urbanism has transformed homes into financial assets, and instead of addressing the structural roots of housing insecurity, strategies such as implementing public-private partnerships (PPPs), urban mega projects and deregulation, have perpetuated housing crises in urban areas. The results suggest that alternative methods such as inclusionary zones for having a mix of market-rate and affordable housing in new developments, as well as strengthening tenant protections through rent control, and tenant rights advocacy programs, can remarkably help address systemic inequalities. By prioritizing the needs of vulnerable populations, policymakers can work towards mitigating the detrimental social effects of neoliberal urbanism and fostering more just and inclusive urban environments. Finally, critical engagement with social justice issues is essential to creating diverse and inclusive urban communities.