Karina Franco’s ornate Art Deco building in the historic center of Mexico City has long been the heart of a downtown lifestyle, housing families of artists and activists and supporting an ecosystem of street vendors.
But as the pandemic upended office norms, a wave of remote workers from around the world descended on Mexico City, the country’s capital. The flow of foreigners has yet to slow down, causing housing costs to rise, displacing residents and upending the fabric of neighborhoods.
In August, Franco and the other tenants in her building were told by their landlord that their leases would not be renewed. Some units soon appeared on Airbnb — at rates more than four times the monthly rent — and new neighbors, mostly speaking English, now fill the hallways.