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Real Estate in Accra, Dar es Salaam, Lagos, Abuja and every other Afrikan neocolonial city is speculative. It is owned primarily by owners that live outside of the borders of the neocolonial nation-states, who generally use it only as a speculative asset. These foreign funds flood the real estate market driving up the prices of the real estate well beyond the means of grassroots of the country. It is not affordable real estate which is needed in an urban center, where hyper-urbanization is the rule, due to the neocolonial system of economics that prevails. The speculative nature of the real estate in the neocolonial nation-state is not helped by the weak nature of the local currency. A weak currency, (or depreciated) currency makes makes local real estate relatively inexpensive to foreigners from imperial nation-states. Normally, with real estate speculation properties are purchased when the prices are low and, sold when the market prices rise due to continued area development. In a neocolonial nation-state however, with the continued devaluation of the local currency, whose relative value is tied to imperialist currency things don’t necessarily operate in this fashion. In neocolonial nation-states speculative real estate becomes a means of entry into a higher income bracket as an extra income (or sole income) for those able to purchase properties, either through rent or through later sale. In terms of rent more can be obtained in terms of profit by making the properties available on the tourist dominated short-term rental market. In this market hyper-urbanization and sub-par shelter for the grassroots, are further fed while rental prices are driven ever higher. None of this is beneficial for the domestic economy. In urban areas real estate can not be anything positive. It is a socio-economic system that must collapse. It is in effect much like the banking Ponzi scheme where money is made from money, expands the Gross Domestic Product but leaves unemployment and poverty untouched. Money from production is a different story. Money from money in the neocolonial nation-state expands the money supply for an already weak (depreciated) currency. Living on loans is a socio-economic recipe for continued financial subjugation (financial imperialism). All the entrepreneurial spirit wont break this fundamental flaw, in a flawed system created by a flawed people.
