Brazilian Gamers Aren’t Waiting for Hollywood. They’re Building Their Own Cons

Perifacon shows the power of gaming, geek culture, and tech outside of uptown São Paulo.

Housing Sales Boom

When tectonic plates shift, the main shock is followed by aftershocks in outlying areas. The tectonic shift of the past two years was interest rates, which climbed faster than in any period in U.S. history. Now that the fight appears to be (almost) over, the plates are readjusting: Last month the Fed signaled it would cut rates in 2024.

We’re in for a series of aftershocks, and the most consequential will occur in housing. In the past 40 years, we’ve experienced a doubling in housing prices, while household income has risen just 20%. In 2024 expect to see a boom in housing sales volume.

The runup in housing prices has been a perfect storm of choked volume: Low interest rates on existing mortgages have locked people in, people are living longer, Nimbyism has restricted new construction, and household earnings aren’t keeping pace with housing prices. The result: Home ownership is increasingly sequestered to the olds. Housing in America over the past four decades has been a proxy for economic policies writ large, a concerted transfer of wealth from young to old. Reduced interest rates, coupled with pent-up demand (new jobs, kids, life events), will drop like prunes through the colon of housing in 2024.

State legislatures and zoning boards have (sort of) gotten the memo that more housing is desperately needed. Unemployment is low, and young workers are facing historically strong prospects. A sweetener? The real estate agent cartel might finally break, reducing transaction costs for buyers and sellers.

A large group of young people are cosplaying as their favorite characters. Others are wearing T-shirts with similar motifs and bright, colorful hair. This scene is typical to many conventions around the globe, but here in São Paulo, it’s different. Many of the attendees are Black and brown Brazilians. Their slang and mannerisms demonstrate a collective pride in their communities, which also happen to be some of the most disenfranchised neighborhoods in the region.

This is from Perifacon, a growing convention started in 2019 devoted to geek and gamer culture in Brazil. The target audience of Perifacon are people from impoverished neighborhoods and favelas away from the more affluent areas in and around São Paulo.

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Will Knight is a senior writer for WIRED, covering artificial intelligence. He writes the Fast Forward newsletter that explores how advances in Al and other emerging technology are set to change our lives—sign up here. He was previously a senior editor at MIT Technology Review, where he wrote about fundamental
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