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The vanishing middle class. What does this mean for cities?

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Political instability

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Victor Orban

Doug Ford

Recap Erdogan

Brexit

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Increased power of elites/rich

Davos Switzerland World Economic Forum.

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Hostility to internationalism.

G7 meeting, Canada.

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https://wir2022.wid.world/www-site/uploads/2022/03/0098- 21_WIL_RIM_RAPPORT_A4.pdf

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Wealth begets more wealth.

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Wealth begets more wealth.

The rest of the world is catching up fast.

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Four Glorious Decades

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Four Glorious Decades

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Most real asset wealth globally is in housing. Most financial assets are in residential mortgages.

https://www.mckinsey.com/industries/financi al-services/our-insights/the-rise-and-rise-of- the-global-balance-sheet-how-productively- are-we-using-our-wealth

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Most real asset wealth globally is in housing.

https://www.mckinsey.com/industries/financi al-services/our-insights/the-rise-and-rise-of- the-global-balance-sheet-how-productively- are-we-using-our-wealth

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What does this mean for cities?

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