Form Follows Function: On the Interaction between Real Estate Finance and Urban Spatial Structure

Bieri, David S.

doi:10.2139/ssrn.2144200

Cited by 6 publications

(3 citation statements)

References 30 publications

(17 reference statements)

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“…Indeed, state strategies and practices are restructured in order to facilitate the transformation of ‘urban products’ as financial assets (Ashton et al, 2016; Ward, 2019). Furthermore, the financialization of real estate has also accelerated the standardization and commodification of design and architecture (Aveline-Dubach, 2013; Bieri, 2013) although, of course, this has not erased the dependence of developers on local planning regulations and authorities (Raco et al, 2019).…”

Section: Urban Financialization As a State Strategymentioning

confidence: 99%

Financial geography III: The financialization of the city

Aalbers

2019

Progress in Human Geography

131

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This report discusses the financialization of urban governance and the built environment as an explicit state strategy, focusing on municipal finance and the use of financial products by the local state and (semi-)public sector. A number of lessons can be drawn regarding the temporality and spatiality of financializing ‘the urban’. Firstly, the financial crisis that started in 2007 has not resulted in a definancialization of the city. Secondly, despite a number of common trends, the literature also highlights the diversity of experiences. Yet it would be too easy to conclude that the financialization of the land, housing and real estate is exclusively a Global North phenomenon, as it extends into the Global South. Finally, the literature notes an emerging gentrification-touristification-financialization nexus. The role of the state in all of this is variegated and often ambiguous.

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Section: Urban Financialization As a State Strategymentioning

confidence: 99%

Financial geography III: The financialization of the city

Aalbers

2019

Progress in Human Geography

131

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“…Informed by orthodox economics, however, most current approaches to urban planning practice reproduce, and often even exacerbate, historical socio-economic and environmental injustices and inequalities. The level of inequality in the United States is unsustainable, both in its expression as uneven development between regions and within cities (Bieri 2012;Gotham 2014), and across racial-ethnic groups (Ayala and Robinson 2020;Darity et al 2017), expanding disparities in economic mobility (Saez and Zucman 2014). In the United States, while net productivity has grown considerably in the past 40 years, worker wages have been nearly flat (EPI 2019).…”

Section: Discussionmentioning

confidence: 99%

Transitioning to Reduced Inequalities

2023

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As one of Switzerland's leading centres for sustainability transformations, the CDE is committed to create actionable knowledge for and about transformation pathways (www.cde.unibe.ch). A social geographer by background, Sabin's main research interests refer to the economic and social dimensions of sustainable development, specifically inequality and poverty. Throughout her work she has engaged with questions of power in contemporary societies, especially gender relations. Currently, she investigates global food value chains and effects of digital work on gender relations in low-income economies. Christoph Bader is Head of Transformative Education and Science Impact Area and Member of the Executive Committee at the Centre for Development and Environment at the University of Bern. An economist by training, he works in thematic fields of sustainable economies, post-growth societies, and multidimensional poverty and inequality, explaining and fostering sustainable consumption patterns and lifestyles. He teaches in BA and MA Sustainable Development study programs as well as CAS Sustainable Development. He received his MSc in economics and PhD in geography and Sustainable Development from the University of Bern.

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“…In great contrast to the broad fiscal solidarity of the massive public investment programs under the FDR Administration during the 1930s, the 'new urban renewal' of America's inner cities is mostly funded by private money, albeit cleverly leveraged by complex government subsidies (Bieri, 2013;Hyra, 2012). Indeed, Detroit's celebrated renaissance is largely shaped by the actions of modern-day urban privateers, including the trucking tycoon Matty Maroun (owner of the Ambassador Bridge, the city's only crossing into Canada, and of Michigan Central Station, the most iconic of Detroit's ruins), the Ilitch family (owners of the Detroit Red Wings and developers of the new $650 million hockey arena and downtown entertainment district), and -perhaps above all -Quicken Loan's founder Dan Gilbert, financial messiah and owner of more than 70 properties worth nearly $2 billion, including many of Detroit's iconic high-rises in the Art Deco style.…”

Section: Learning From Detroit?mentioning

confidence: 99%