From Housing Bubble to Repossessions: Spain Compared to Other West European Countries

Fuentes, Gala Cano; Etxarri, Aitziber Etxezarreta; Dol, Kees; Hoekstra, Joris

doi:10.1080/02673037.2013.818622

Cited by 52 publications

(47 citation statements)

References 13 publications

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“…The housing crisis has been at the centre of the broader crisis in Spanish political economy since 2008 with foreclosures, repossessions and evictions being some of the main ways in which the crisis has hit many Spanish people (Cano Fuentes et al 2013, Barbero 2015, Vásquez-Vera et al 2016. Moreover, Spanish growth preceding the crisis was largely driven by increasing house prices (López andRodríguez 2010, Charnock et al 2014).…”

Section: The Actually Existing Austerity Of Housing In Spainmentioning

confidence: 99%

“…Vulture investments are the buying of cheap assets in a crisis with the expectation of long-term profitability. House prices in many countries fell in and after the 2008 crisis, and in some countries the fall was dramatic with Ireland and Spain experiencing the worst devaluations (Cano Fuentes et al 2013: 1204. The result of falling prices has not been to make housing more affordable and an expansion in home ownership.…”

Section: The Actually Existing Austerity Of Housing In Spainmentioning

confidence: 99%

“…The particularly punitive Spanish legislation that does not have allowances for personal bankruptcy means that hundreds of thousands of foreclosed homeowners remain burdened with debt following from their negative equity (Cano Fuentes et al 2013). In Spain, when a foreclosure process is carried out, the property is auctioned.…”

Section: The Actually Existing Austerity Of Housing In Spainmentioning

confidence: 99%

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Contesting Actually Existing Austerity

Berglund

2017

New Political Economy

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The paper considers what it means to contest austerity and what political contestation of austerity says about how austerity as a political process should be conceived. It does so through separating a narrow view of austerity as fiscal consolidation from actually existing austerity as a broader political economic process ongoing in different ways in different countries. Through a case study of crisis, austerity and contestation as it relates to housing in Spain, the paper argues that to contest actually existing austerity it is necessary to contest both the wealth and power of the actors that have gained from austerity, not least finance capital. Through bank bailouts and the creation of a bad bank, the reforms demanded by the troika have opened up Spanish housing to direct wealth extraction by global finance capital whilst half a million households have been evicted and hundreds of thousands live with insurmountable debt. The Plataforma de Afectados por la Hipoteca (PAH, Platform for the Mortgage-Affected) has contested austerity in Spanish housing by contesting finance capital through civil disobedience whilst campaigning for anti-austerity reforms to housing and mortgage legislation, aiming to limit how housing can be a sphere of wealth extraction for finance capital. ARTICLE HISTORY

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Section: The Actually Existing Austerity Of Housing In Spainmentioning

confidence: 99%

Section: The Actually Existing Austerity Of Housing In Spainmentioning

confidence: 99%

Section: The Actually Existing Austerity Of Housing In Spainmentioning

confidence: 99%

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Contesting Actually Existing Austerity

Berglund

2017

New Political Economy

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“…Depending on their economic blueprint and housing and welfare systems, the economic crisis took on a different form, with variegated consequences in each country (for example, Forrest and Yip, 2011;Fuentes et al, 2013;Waldron and Redmond, 2015). Although more households have faced employment risks and negative equity in countries with more strongly financialized housing finance systems, the relationship between risky household positions (for example, mortgage arrears and repossessions) and urgent welfare problems has been moderated by various factors.…”

Section: Post-gfc Housing Wealthmentioning

confidence: 99%

Why housing wealth and welfare?

Dewilde¹,

Ronald

2017

Housing Wealth and Welfare

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“…In contrast to Ireland, banks moved quickly to repossess properties in Spain. In the first six months of 2012 alone, banks repossessed almost 100,000 properties whereas repossessions remained minimal in Ireland (Fuentes et al 2013(Fuentes et al : 1198. The crisis did not affect Italy as dramatically as the other 'PIIGS', partly because it had followed many years of stagnation rather than any enormous growth.…”

Section: Setting the Contextmentioning

confidence: 99%

Just One of the ‘PIIGS’ or a European Outlier? Studying Irish Emigration from a Comparative Perspective

Glynn

2015

Irish Journal of Sociology

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The return of high levels of emigration has become one of the most debated and sensitive social topics in Ireland in recent years. But Irish emigration continues to be discussed in the singular rather than the plural. This paper compares Irish emigration to other Eurozone states that also encountered serious economic difficulties following the onset of the global financial crisis to highlight international trends and specify national differences. All of the 'PIIGS' experienced increased emigration after the crisis. Yet Irish citizens left in much greater numbers per capita than their Eurozone counterparts, with only Portugal bearing any similarities. This was because Irish emigrants possessed valuable transnational human, cultural and social capital that enabled them to access liberal labour markets outside the Eurozone. They possessed skills desired by attractive destination states; they spoke the same language and shared similar cultural traits as their hosts; and they were able to call upon recently renewed Irish networks to further facilitate their move abroad.

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From Housing Bubble to Repossessions: Spain Compared to Other West European Countries

Cited by 52 publications

References 13 publications

Contesting Actually Existing Austerity

Contesting Actually Existing Austerity

Why housing wealth and welfare?

Just One of the ‘PIIGS’ or a European Outlier? Studying Irish Emigration from a Comparative Perspective

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