Description
The Financialization of Housing
A political economy approach
Routledge Studies in the Modern World Economy Series
Author: Aalbers Manuel B.
Language: EnglishSubjects for The Financialization of Housing:
Keywords
Community Development Corporations; Cee Country; Housing Studies; Flexible Neoliberal; Political Economy; Mortgage Securitization; Financialization; Real World Political Economies; Human Geography; Secondary Mortgage Market; Housing Finance; Comparative Housing Studies; Economics; Homeownership Rates; Brett Christophers; post-Fordist Period; Rodrigo Fernandez; Mortgage Debt; National Housing Markets; Social Reproduction; Capital Switching; Mortgage Market; Cross-border Capital Flows; Regulated Deregulation; House Price Development; Housing Wealth; Mortgage Market Crisis; Private Equity Firms; Mediterranean EU Country; National Housing Systems; Fordist Period; House Price Inflation; UK Side
Publication date: 05-2016
· 15.6x23.4 cm · Hardback
Publication date: 05-2017
· 15.6x23.4 cm · Paperback
Description
/li>Contents
/li>Readership
/li>Biography
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Due to the financialization of housing in today?s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate.
A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area.
Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.
1 Introduction: Financialization and Housing Studies
2 Centring Housing in Political Economy
With Brett Christophers
3 The Financialization of Home and the Mortgage Market Crisis
4 The Great Moderation, the Great Excess and the global housing crisis
5 Financialization and Housing: Between Globalization and Varieties of Capitalism
With Rodrigo Fernandez
6 Mortgage Lending and House Price Developments in Germany, Italy, Spain, the Netherlands and the US
7 The Financialization of Subsidized Rental Housing
8 Conclusion: The 21st Century Housing Question
Manuel B. Aalbers is Associate Professor of Human Geography at KU Leuven/University of Leuven, Belgium, where he leads an ERC project and research group on the intersection of real estate, finance and states.
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