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6 New Media and Residential Real Estate
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Published:November 2022
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Abstract
Print media, much of it traditional and well-established, operated under problematic limitations, even though there were notable exceptions of journalists who wrote perceptively. At the same time, new media was threatening or promising to transform the residential real estate sector, as it began to shape the ways buyers, sellers, and intermediaries interacted. The years around the Great Recession were when disruption driven by platform or sharing economies seemed to be everywhere. This chapter focuses on five areas: the buying, selling, and financing of homes; short-term rentals in popular cities and resort areas; the home as sanctuary; the home as workplace; and the racial, class, geographical, and generational dimensions of the impact of disruptive innovation in residential real estate. I explore the impact of these changes on the balance between public and private in people’s lives. New media have fostered major changes in the allocation of time, space, and financial resources. They have helped redefine work, leisure, personal relationships, and entrepreneurship. Emphasizing as they do the neoliberal goal of self-governance, they have accentuated the power of individualism and eroded the roles of or support for governments, social organizations, and public life.
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